I Use the Buyer Representation Agreement in Waikiki

Reblogger Lori Bowers
Real Estate Broker/Owner 01293735 CA

The buyer broker agreement really works to sort out the users from the buyers. We cannot work for free. I just had a call from a guy who wanted to see a property and said he only made offers with the listing agents. He said he would not sign a buyer broker agreement. I said I would go ahead and show him 2 homes and then he could decide. He said no because he was going to buy from the listing agent. At least I found out before I wasted my Sunday afternoon with him.

Original content by Andy Kress

I was a realtor in La Quinta, California, for 5 years. I moved to Waikiki, Hawaii about 2 years ago and recently got back into real estate. In California, I was diligent about using a Buyer Representation agreement. I was active in Tom Ferry Coaching while in California, and learned from Alan Shafran, a top Prudential agent from Carls bad how to present the Buyer Representation Agreement.I am just starting to work with clients. I had my first sit down yesterday and my broker John was there to assist. He was able answer many questions from my out of country buyers. I then explained to them that to have me for their agent was free. The seller would pay me. I needed a written committment from them, that if they did buy a condo they would buy it from me. I explained what I would do for them from loan preapproval to finding a home to closing. Even after closing, I would be there for them. They signed and we have started the process. I was so happy and proud that my skills still work after a 2 year recess from real estate. I tell agents - would you list a home without the sellers signing the listing papers? Why would we as agents work for buyers without a written agreement of committment?

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Rainmaker
251,421
Frank Castaldini
Coldwell Banker - San Francisco, CA
Realtor - Homes for Sale in San Francisco

I haven't used on yet.  But there are a few instances where I'm sure one would have saved a bit of headache.  Thanks for the reminder.

Oct 10, 2010 03:01 PM #1
Rainmaker
652,823
Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes

Good for you getting a buyer broker -- it will save you a lot of grief to always get one.

Oct 10, 2010 04:00 PM #2
Rainmaker
351,011
Dan Brudnok
Keller Williams RE- Exton - PA License Number #RS225179L - Downingtown, PA
REALTOR,e-PRO,ABR,GREEN,SRES,CSP

We have been using it in PA for 10 years now......and I would not show a home without it......

Setting the expectations up front makes for a much better relationship.

Oct 11, 2010 08:46 AM #3
Ambassador
751,738
Lori Bowers
La Quinta, CA
The Lori Bowers Group

Thanks for the repsonses. This is a powerful document

Oct 11, 2010 02:03 PM #4
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