Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker)

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Rainmaker
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Uhmmmm, What Noah? We use a Exclusive Buyer Broker to inform the Buyer what we will do for them, what our fee's are and who pays them.  We use them everytime, from the first meeting.

Jan 17, 2015 12:46 PM
Rainmaker
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Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

Chief Cook uses them all the time....I think rather than ruining a trust relationship, it reinforces it. 

Jan 18, 2015 02:06 AM
Rainer
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RVA HomePRO Michael Hottman
RVA HomePRO Realtor with Keller Williams serving Hanover, Henrico, Chesterfiled and Richmond, Virginia - Glen Allen, VA
Helping you achieve goals in life & real estate

I use them since they are mandated by the state. But I make light of them and usually the first one is for just one house for just one day. If they aren't willing to sign that then they are likely going to be a difficult client and I need to weigh if they are someone I want to work with.

Jan 18, 2015 01:09 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

In Pa we  have the non exclusive contract which I explain by saying that if I show the home they should buy that home through me but they are free to look at other homes with other agents if they choose . They are adviced to read the contrcat carefully . I always provide the consumer notice which is not a contact and it explains agency.

Jan 17, 2015 11:16 PM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Noah,

We always did get an exclusive rep agreement.  I don't think it is like a prenup.  The only client that did not was a big music company.  I stuck to the principal like glue showing him every available space in the designated areas of Los Angeles...we did the deal and subsequently 3 more, and by then they loved us...A

Jan 17, 2015 01:04 PM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I use them 95% of the time and just tell buyers that is the way I work. It is usually not a problem.

Jan 17, 2015 12:38 PM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I have used them in some cases but not all. I usually talk with new buyers about this after we have had a meeting and a tour of some homes so they can decide that that they DO feel comfortable signing with me or not

Jan 17, 2015 11:49 AM
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

I don't typically use them; however, there are always exceptions especially when the buyer says he's had contact with other agents but wants to work with me.  Just as a precaution I think they should put it in writing. 

Jan 17, 2015 10:44 AM
Rainmaker
407,561
Bill Dandridge
MKB, Realtors - Roanoke, VA
GREEN, ABR, GRI, EcoBroker

I do not ask my buyer's to sign one until we write an offer. I want my buyer's to feel as if they want to work with me rather that being contractually obligated to work with me. Also, an attorney and a motivated buyer could always get out of the agreement anyway...

Jan 17, 2015 09:46 AM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Put the agreement in writing and provide an easy release if needed.

Jan 17, 2015 09:23 AM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Noah Seidenberg now I got to fix this for myself - I do not have EBA - and work on turst. However, God has been kind with me.....

Jan 17, 2015 08:07 AM
Rainmaker
364,889
Cindy Davis
SD Home Source Realty - San Diego, CA

I like the idea of a buyer's agreement. In reality, I don't feel comfortable asking someone who just me to sign a legally binding document. If I am unsure about whether a buyer will wander, I will ask for a buyer's agreement, but only after a time or two of getting together.

Jan 17, 2015 08:03 AM
Rainmaker
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Jimmy Williams (352) 874-2354
Keller Williams Elite Partners IV - Mount Dora, FL
Lake and Western Orange County Real Estate Expert!

Noah, I felt the same as you until recently!  I now follow my scripts and do not deviate from them.  Of course, the last bad experince has changed my thinking.

Jan 17, 2015 07:52 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Good relationships are outlined with good written agreements.

Oct 22, 2017 09:22 PM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Every time - just like listing agreements

May 13, 2017 04:29 AM
Rainmaker
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LuxurySoCalRealty Compass San Diego
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

I've never used in 4 years and don't intend to change 

Jan 11, 2016 07:42 PM
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Only in a questionable situation. Like the prospect knows a lot of agents get one suspect who has also talked to lately. 

Jan 19, 2015 01:38 PM
Rainmaker
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

An exclusive buyer agency agreement is difficult to obtain at an initial meeting and not an easy conversation to have. Most agents choose not to do so, which makes it more difficult for those of us who insist on it. It is a legal requirement in our state to have one to sell a home (i.e. buyer representation is mandatory for their protection since the listing agent works for the seller).  A listing brokerage has the right not to pay a co-broke fee to an agent without such an agreement. However, even if you have one on day one, I think the protection is minimal as often buyers don't obide by it. 

Jan 18, 2015 09:53 PM
Rainmaker
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Absolutely, I use these. Otherwise, that buyer is not a client and I am required by law to represent the best interest of the seller as their sub-agent.

Jan 18, 2015 08:53 PM
Rainmaker
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Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Although Larry and I are Buyers Reps, many here are skeptical of signing anything...

Jan 18, 2015 08:30 PM
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I have buyers sign an agency agreement with me as soon as possible. It protects the agent by doing that. 

Jan 18, 2015 12:37 PM
Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

 Noah, in Colorado we are to identify our relationship with our buyers as soon as possible.   I usually show the first day, then have them sign if they are comfortable with my knowledge. 

Jan 18, 2015 10:38 AM
Rainer
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Charlotte Marrocco-Mohler
REMAX Insight/Advantage/On the Move - Nashua, NH
Broker Licensed in NH and MA

You need to read your buyers.  Not all buyers want to sign a buyer agreement.  On a case by case basis.

Jan 18, 2015 07:08 AM
Rainmaker
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Jill Moog
Coast & Country Homes and Estates, Inc. - Carlsbad, CA
Carlsbad, CA Homes for Sale

I have not used Buyer/Broker agreements in the past, preferring to go the trust route, which has worked for the most part. However, I think I will start having buyers sign for the properties I actually show them. I feel this is fair for all parties involved and may cut down on the "shenanigans" some people like to play.

Jan 18, 2015 06:19 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have tried using these down here in FL, Noah.  But since so few do in my community, it's a really hard sell.  It's probably more beneficial to get the trust and educate buyers than having them sign a rarely enforced piece of paper.

Jan 18, 2015 05:28 AM
Rainmaker
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Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I really liked doing the 'trust' thing...worked very well...UNTIL

some brokers started submitting homes for sale into the MLS with a whole $1 co-broke compensation. Add to that the reality that a buyer who says "I'm looking for a home in Tabbybush and don't want to spend more that $400,000" suddenly wants to see a foreclosure listed at $57,000 on Auction.com. I trust you are doing the math.

If you have not had the compensation discussion before hand, doing it now will be truly uncomfortable. My conversation is about how I am compensated, it just happens to be contained in the EBA.

Jan 17, 2015 09:42 PM
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Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Here is my answer. If I feel that the buyer is clicking with me and I explain to them the time investment I have in this, then your word is as good as your bond. That is how I am in life. But if feel in anyway that it not going to be like that then you show me the preapproval and sign the exclusive buyers agreement. Usually it is unnecessary.

Jan 17, 2015 07:14 AM