Confusion about Buyer Representation Agreements

By
Real Estate Broker/Owner with (808) 226-1095 or (831) 626-4000 CA #01772851 HI #RB-21268

I just saw a blog that disturbed me re buyer representation. I am going to paraphrase here because I don’t want to use a direct quote for the whole thing:

It mentioned that there is a state law that an agent can only show a property if:

1.      There is an Exclusive Right to Represent agreement or

2.      Has the seller’s approval to show the property

What this implies is that the agent needs to get the sellers approval to show the property. Ok, I buy that, the agent has to set up a showing with the listing agent. You always need to do that.

BUT YOU DO NOT GET APPROVAL BY THE SELLER TO SHOW IT TO A SPECIFIC BUYER THAT YOU HAVE A SIGNED AGREEMENT WITH.

The blog also mentions that once you have a signed buyer representation agreement, the agent can show that buyer ALL PROPERTIES THAT ARE LISTED BY ANY BROKER.

No, the agent ALREADY CAN show all properties if he/she is part of the MLS. No buyer representation agreement is necessary.

AT LEAST IN CALIFORNIA!!!!!

Although I would like you to sign a Buyer's Representation Agreement if it looks like I will be spending a lot of time with you, Mr. and Mrs. Buyer, I don't insist on it. If I am persuaded that you are in the market to purchase a property, I can show you any property that is in the MLS, and, by making a few phone calls, probably some that are not (especially Commercial and Income Properties). I am a real estate broker licensed in the State of California and I will help you with your real estate purchase without making you sign a contract that you might not be comfortable with.

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________________________________________________________________

Hella Mitschke Rothwell (R)

Real Estate Broker/Owner/Realtor®
Licensed in California #01772851 & Hawaii #RB-21268

Tel. 808-226-1095 or 831-626-4000 

Fax 1-877-822-9332

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Rainmaker
869,561
Paula McDonald
Chevaux Group, PLLC - The Woodlands, TX
CHEVAUX Group ~ The Woodlands, TX 936-203-0279

Each state and agent has their own guidelines regarding these agreements.  I always believe it is best to develop a good relationship with the person before approaching this subject.  Trust must be established first.  Some brokerages however require these to be completed before they will pay the commission.

Sep 25, 2011 10:42 PM #1
Rainmaker
577,290
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker

Paula: I agree with what you say. What floored me was that the rule was attributed to "state law".

Sep 25, 2011 10:51 PM #2
Rainmaker
820,981
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Hella - I'm assuming this other agent was also a California agent.  In Connecticut we can't show other brokers' listings without buyer agency representation, although it doesn't have to be "exclusive." 

Sep 27, 2011 08:12 PM #3
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Rainmaker
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