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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Who does that Buyer Broker Agreement protect? 

 

      The Florida Realtors standard form protects the Broker's commission... it may NOT offer any fiduciary relationship. 

Jul 21, 2021 04:00 PM
Rainmaker
887,533
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Take your blog post off of this question and it's a good question.

Jul 21, 2021 01:21 PM
Rainmaker
298,795
Shayne Stone
Champion Real Estate Group - Missouri City, TX
"Your Rock Solid Choice Realtor"

Does it really matter? Our broker / State now in days require it to be signed. But in my opinion it isn't worth the paper it's writtten on. Like I explain to the client, my license is their protection and the BRA is my protection. But like any contract to be enforce I would need to take legal action and in most cases I feel that would be just more lost of time and money...

And like your blog says how would I know if I or they would like to work together. Have them sign, and if you don't want to work with each other - WALK AWAY... 

Jul 21, 2021 12:53 PM
Rainmaker
845,920
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Yes, it's required in VA. "As of July 1, 2012, Virginia Law now requires that a BUYER and a BROKER have a “WRITTEN” agreement (not just verbal). ... By law, Agents in Virginia can only show homes and work with a Buyer after both have signed this Buyer Brokerage Agreement."  It can be for 1 showing, 1 day, 1 week, etc. I have been at trainings, where the trainer was teaching agents at Open Houses how to handle buyers that are working with other agents. This trainer was teaching the Open House agent not to ask visitors " Are you already working with an agent? " and instead ask them " Do you have a written and signed Buyer Broker Agreement with another agent?", and if the answer is No, and that buyer wants that house, it's the duty to the sellers of the Open House agent to write up that offer/contract, and that agent that didn't get the BBA signed is out of luck and gets paid zero even if they had showed that buyer 20 other homes over the last 3 months.

Jul 22, 2021 04:10 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Until they sign it they are NOT a client, only a customer, and you owe your fiduciary responsibility to the seller, not the buyer.  Something that could get a lot of agents in serious trouble.

Jul 21, 2021 09:35 PM
Rainmaker
1,715,898
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

You asked a question which means you are looking for OTHER PEOPLES opin ions. I know I'm not interested in yours as you are promoting yourself.

You've done it before & just don't get it.

Jul 21, 2021 03:00 PM
Ambassador
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Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

I'll not read the blog post as it goes against all policy.  However, I do require all Buyers to sign a Representation Agreement the same as I require all Sellers to sign their Agreement too; Listing or Buying makes no difference.

Jul 21, 2021 01:56 PM
Rainmaker
2,634,031
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

NO they shouldnt have to but if you run into a dicey seller situation it is wise to have a back-up understanding

Jul 21, 2021 01:37 PM
Ambassador
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

They aren't your clients until they do sign one, at least in our state.  

Jul 22, 2021 07:40 PM
Rainmaker
1,380,173
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I've never found one to be necessary.

Jul 22, 2021 08:57 AM
Rainmaker
1,213,009
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

In CA, Yes. Mine all do - my whole career.

Since 1999 my buyers and sellers equally sign agreements.

 

Don't you make your sellers sign listing agreements?

 

Do your tenants sign leases?

 

Then why wouldn't you equally expect it of your buyers?

 

I never understood the debate. I can't speak to other states; but, as a 41 year CA entrepreneur across 5 businesses and 4 industries, YES!

All my clients - of any business I own

sign agreements/contracts. 

It's the professional thing to do.

But, you run your business as you see fit, I speak for me and my CA opinion only.

 

Jul 21, 2021 09:25 PM
Rainmaker
3,966,917
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I learn the hard way and did not have them sign one, now always

 

Jul 21, 2021 04:56 PM
Rainmaker
894,822
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

How interesting since I read and responded to the question following this one before seeing this question.

To answer the question...which could stand alone in this venue without a self-promoting link...I do not pursue the strategy of insisting that my buyer clients sign a contract to work only with me.

Jul 21, 2021 04:41 PM
Rainmaker
818,217
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

In Connecticut Buyer Agency Agreements are mandated by law, but since it's not always the easiest conversation for some to have with new customers (BA agreement makes them clients), often agents choose to skip that step.

Jul 22, 2021 01:03 PM
Rainmaker
882,261
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I do not require it to work with a buyer. 
However, if the buyer wants to benefit from all the resources I can offer, membership has it's benefits.
And, in today's market, to find the house a buyer wants that is not on the MLS requires payment in advance. This is actually how it should be, every buyer and seller pays their agent directly. The day is coming.

Jul 22, 2021 06:32 AM
Rainmaker
439,515
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

If the Buyer wants representation in Maryland it is required. The state did away with assumed Buyer representation a few years ago.

Jul 22, 2021 04:19 AM
Rainmaker
580,681
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

I only had a buyer sign once when it was a big commercial property and the buyer had been working directly with the listing agent, then decided he needed his own representation. 

Jul 21, 2021 03:07 PM
Rainmaker
6,539,560
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

You are welcome to have your own opinions.

Jul 21, 2021 12:16 PM
Rainmaker
735,239
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Always. We're required to have buyer agency signed before we make an offer. I get it signed before I show homes. 

Jul 26, 2021 07:40 AM
Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Nope and will only ever do it if the state requires it.  Won't like it then.

Jul 24, 2021 03:16 PM
Ambassador
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Before an offer is submitted here, a BB Agreement must be signed by buyer, agent and broker.

Jul 23, 2021 03:18 PM
Rainmaker
4,155,903
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Never used a buyers brokers agreement while active. In this day and age, might give it some thought.

Jul 22, 2021 04:36 AM