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Having a buyer and having a client isn't the same thing. BBA are not customary or legally necessary in my market. And I rarely get it signed until we're ready to write an offer. But I also rarely lose a buyer because I earn their loyalty by working hard for them.
I explain that I am here for them and they are to call me for their real estate needs. I do ask if they are working with another Realtor. I don't make them sign anything. It may be my bad but it's the way I do business.
John McCormack, CRS
I do, as well, Evelyn, because many people have signed agreements without truly understanding what it was they signed. You can't lose something you never had in the first place, as you said.
John McCormack, CRS
Evelyn - since when did rational behaviour become a hall mark of our industry? LOL - When do you ask them to sign the buyer agency agreement?
I do ask if they are working with another agent and few have EBA...
Evelyn Johnston - you are so right! I just let them go - and usually, in first couple of visits, I know where they stand!
Some agents assume that the buyer is theirs even without a written agency agreement. I too ask if they are working with another agent and can tell if they have been looking at homes with another agent so I ask more questions.
Has anone heard of "meaningful disclosure"? That means you CANNOT stick an agency agreement in the buyers face when they are getting ready to write a contract on a house...that is way too late.
A disclosure or agreement has to be given during a time when the buyer still has the option to understand and walk away if they don't like it.
Hi Evelyn - I do and ask the same question. If they are not committed to another agent I am going to work hard to get them committed in writting to me.
I always get a kick out of those agents, hopefully it is a lesson to make your buyers clients and not just drive around a customer you may never get paid for.
They Shouldn't . Nature of this business
Evelyn Johnston BBA's are are State mandated in my area.
I always ask a buyer if they have contacted any other agent.
the question is: "Why would an Agent get upset if they lose a buyer they never really had?
Everyone, including Evelyn and Tammy and Nina and Lise and Paul and Praful and Gary and Debbie and James get upset when the realize they did a poor job. In this case the agent did a poor job 'locking-in' the buyer....or the agent suspects you transgressed on common practice and stole a buyer.
In either instance, is should be no surprise nor uncommon the agent would be upset even if they do not express their disappointment.
I like you always have the buyers sing an exclusive agency. If they are hesitant or refuse we are finished.
I agree. I want to work with only those who want exclusive representation.