Should you sign a buyer representation agreement?Posted by Dream Realty on Tuesday, November 22nd, 2011 at 3:41pm.
When I started in the real estate business ten years ago, I worked for a national firm that had its rules. One of the most important rules was getting a buyer representation agreement with my buyer. The first time I showed a buyer I came with the agreement in hand and had a speech prepared. Let's just say that I never saw this person again. I learned different ways to present the agreement and in most cases the client was happy to sign the form. So, why should you sign such an agreement?
Agents are paranoid by nature. They believe that they will lose their commissions, their clients, their jobs if they don't perform. However, this doesn't mean you should sign the agreement with the first agent you meet. Just like any job interview you should find the person that works well with you and get the job done. Most seasoned agents have certain confidence about themselves and should be able to break down any question you have for them. So, you have found your agent, but what does and agent do for you after that?
Agents perform a number of tasks that seem minimal, but take a great deal of preparation. Most agents are information specialists and have a number of contacts for their clients. Need a lender? Need an appraiser? Need an inspector? Good agents have built up contacts over time that only benefit you. If the agent has a website they will go into their back-end of the website and create custom searches based on their clients needs. These can change and the agent should have an open mind for other alternatives if the buyer cannot find immediately what they are looking for.
However, some agents will find the following step as their most important. Showing homes. Most clients don't realize that the time spent scheduling the showings, mapping the homes, and gathering the details on each home takes several hours before they even get the client into the car. I have personally shown 3 different clients in one day and 40 homes. To do this an agent must have good organizational skills, if not you will be able to feel the pressure from the agent and mistakes will be made. For this one reason alone, no agent should go out unnecessarily without an agreement.
So, back to the question should you sign a buyer representation agreement? The answer is why shouldn't you? If you feel confident you have found your agent and they have the skills to get you the home you want, why wouldn't you? As with any relationship trust is important and with an agreement this shows trust and the agent will perform at a much higher level for their client.
The Dallas Real Estate and McKinney Real Estate markets are have agents ready to show you homes with the help of Dream Realty. Please visit our website today and contact us with any real estate questions you have.
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