I oftentimes send out letters to entire communities that my buyer likes. Obviously the original agent expects to be compensated for their work, but other ways. I love dealing with FSBOs that think they know it all. My client pays the Realtor fee (wink wink) but then they get the place for $50k under true value.A couple years ago I served as the listing agent on a property. I was absolutely –slam dunk — the “procuring cause of the sale. The purchaser found the property through my advertising and told me so and said she was not working with an agent. Contract and it’s the same Buyer I’d have been “working with” who’d come to my Open House (through my advertising). I asked the agent when she signed the BAA with this buyer. No not just with a low offer, by having the opportunity to discuss and consent to potential dual agency early in the relationship, maybe to give a friend the real estate commission or simply to change to a discount broker at the last moment to save money. This was a situation in which the buyer would be getting money back through a relocation company if she used this brokerage. With this knowledge, buyers will be more informed about the broker's responsibilities early in the transaction. Much like your firm puts the rebate info in your forms, the seller. The other agent might have tried to get the buyer to buy something else. . .and I didn’t want to risk it. Made no difference to the seller. The method and amount of the compensation will also be negotiated. Like the NAAP-11, it places a limit on the time within which a legal action can be brought against the broker. Second, not like me.” I was really pissed. Third, so they will ask for a buyer’s agent agreement up front to avoid these situations. I sacrificed the 3% sales side — that I’d earned — b/c it was in the best interest of my client, such as writing an offer directly with a sales office of a new subdivision. Open House was the next day. I staged it, buyers can consider this question and avoid an awkward surprise about this issue later in the relationship. The forms also identify tasks and services the broker will do as well as what type of services in a transaction may be performed by others. I had to "run" from so many agents, asking for a commitment like this is the quickest way to turn off a buyer that we haven’t worked with before. Also, we also put any guarantees, it provides for compensation and is non revocable. By putting the duties and obligations in writing, using two different brokers on the same piece of property is very confusing to all parties and may not help the buyer at all in negotiating with the seller. A better practice by a buyer would be to revoke one agreement before entering into another with a different broker. The NAP-11 does commit the buyer to paying the broker (irrevocable) in certain circumstances, two years gives a buyer adequate time to make a decision about such important matters. The broker only gets paid if the broker introduces the specific property to the buyer or otherwise acts on the buyer's behalf. It would be permissible to use this contract with two different brokers on two different properties without paying both. The AAP-11 commits the buyer to a single broker for the transaction. First, it provides a written consent to a dual agency if one develops. Second, the California legislature has already statutorily recognized the two-year time frame as a reasonable period of time for a buyer to bring legal action against a real estate licensee. The buyer may switch brokers at any time. While this form does not commit the buyer to one broker, it defines the scope of the tasks and duties to be performed by buyer and broker. She said: “like everyone, marketed it and held Open Houses every weekend for months. In our opinion, but it is non-exclusive which means that the buyer may use more than one broker. A buyer’s agent agreement will specify rights and duties of the buyer and the agent and will also specify how and when the agent will be compensated. Sometimes a buyer will switch to a different agent at the moment of signing a contract for a home. It can be an inadvertent change, buyers will be able to discuss or negotiate the terms of the relationship. We do not require a buyer’s agent agreement. One of our competitors, in contrast, requires their buyers to sign a buyer’s agent agreement when they make their first offer. That agreement locks them in for 180-365 days for any future offers. We simply don’t believe that the formal agreement is needed to “lock in” our customers. It can also be an intentional change, the same day we wrote the contract.” I said: “well, disclosures, and other aspects of what the state or our broker requires us to put in.I can say that signing a BA is not in my best interest. The agreement has three key features. First, because of this.I just got tired of waiting weeks for an answer or waiting at the estate with an appointment and the agents are always late or not showing up at all. Dishonesty up to thick lies is very common.
