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#69905 - 09/22/06 11:23 PM Re: Burned Again
Sabby Offline
Junior Member

Registered: 09/22/06
Posts: 3
Loc: Southern Oregon
Quote:
Originally posted by Rep:
I Showed several properties to new clients and then they buy a home with another agent...I called them and they tell me they were working with 5 agents and speaking with 20.

I find that the buyer agency contract is something they do not want to sign. So like an idiot I take them out on a verbal agreement and a handshake. This is the third time this has happened to me. I know it is my own fault for not getting the contract signed...but how do you get them on paper nicely?
_________________________
Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind.

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#69906 - 09/23/06 05:28 AM Re: Burned Again
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
Was there a point you were attempting to make by this post?

Quote:
Originally posted by Sabby:
Quote:
Originally posted by Rep:
[b] I Showed several properties to new clients and then they buy a home with another agent...I called them and they tell me they were working with 5 agents and speaking with 20.

I find that the buyer agency contract is something they do not want to sign. So like an idiot I take them out on a verbal agreement and a handshake. This is the third time this has happened to me. I know it is my own fault for not getting the contract signed...but how do you get them on paper nicely?
[/b]
_________________________
Paul Oaks
Oaks Real Estate Group

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#69907 - 09/23/06 05:36 PM Re: Burned Again
Sabby Offline
Junior Member

Registered: 09/22/06
Posts: 3
Loc: Southern Oregon
sry something came up and had to back out didnt realize it actually posted my "non post"

Yes, actually there was. Dont work with out a buyer agreement form it is a contract. One way we get buyers to sign the buyers agreement is to remind them that you as their agent will work 110% for them. One agent says it like this I am applying for a job! The job is to be your Realtor. "If you don't like me FIRE ME! That is my guarantee!" Also, just as they are interviewing you, you are interviewing them as well. Be confident about yourself. Not forceful but Confident. Be confident enough that once they meet you they will hire you! Just as any other business if they are going to provide you a service they want a contract. Why would they not want to sign, the buyer generally doesn't pay the commission it comes out of the sale proceeds.
_________________________
Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind.

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#69908 - 09/23/06 05:37 PM Re: Burned Again
Sabby Offline
Junior Member

Registered: 09/22/06
Posts: 3
Loc: Southern Oregon
sry something came up and had to back out didnt realize it actually posted my "non post"

Yes, actually there was. Dont work with out a buyer agreement form it is a contract. One way we get buyers to sign the buyers agreement is to remind them that you as their agent will work 110% for them. One agent says it like this I am applying for a job! The job is to be your Realtor. "If you don't like me FIRE ME! That is my guarantee!" Also, just as they are interviewing you, you are interviewing them as well. Be confident about yourself. Not forceful but Confident. Be confident enough that once they meet you they will hire you! Just as any other business if they are going to provide you a service they want a contract. Why would they not want to sign, the buyer generally doesn't pay the commission it comes out of the sale proceeds.
_________________________
Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind.

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#69909 - 10/06/06 04:33 PM Re: Burned Again
homer4bama Offline
Junior Member

Registered: 10/06/06
Posts: 6
Loc: Birmingham Alabama
"Are you currently working with a real estate agent?" Is one of the first questions I ask. That will save you bundles of time.

Create a sense of value in your service and differenitate yourself from other real estate agents in your area. Also, explain what a buyer broker or buyer's agent can do for them. They may not know.

Also, you need to know when to walk away.
A good barometer of willingness of a client to sign, for me, is if they will sign the agency disclosure form. If they look like you just handed them a dead rat, and refuse to sign that, you are probably not going to get an agency agreement signed.

Remember, your are a professional and your time is valuable. Every minute wasted on a client that may not sign, would be better spent working a lead that may.


Ed
_________________________
Birmingham Alabama Real Estate. Use our FREE Birmingham MLS Search to find homes for sale in Birmingham, Alabama!

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#69910 - 10/10/06 05:24 PM Re: Burned Again
mchammer Offline
Junior Member

Registered: 10/10/06
Posts: 5
Please allow me to jump into this discussion as I am living through the OTHER side of the equation.

Quick background:
Retired, sold my house, am relocating to be closer to in-laws. Searching for our "last" house and have narrowed it to three cities in a couple of states. Purchase is a "no brainer"; locate the house, write the check. Median prices in the areas range from $185k to $237k and my budget is not to exceed $500k.

Now, I have no problem paying for professional services but I do expect to get what I pay for. To date I haven't found a buyer's agent who does little more than give the same, tired canned speech about "giving my all".

BA #1 -- rode the town, qualified each other, made commitment to work with her exclusively in the city and asked for an agreement.....never saw one or heard from her again
BA #2 -- same thing except this time signed up with him. Emails went unanswered, questions ignored so I fired him
BA #3 -- this one is a real winner. When I called the exclusive BA after getting his card from the local chamber, he was at the coast. Fine; everyone has a personal life. I completed a contact form on his site....not a word. Two week later I get an email asking me to call. Giving him another chance we talked and I asked the standard compensation questions and a summary of his services. He limits his search to the MLS and I want someone who will go FAR beyond that to include FSBO and pocket listings. He would, however, knock on a FSBO's door IF I insisted. He said I should read the classifieds to see if any are advertised. In addition, he doesn't ride around to see the town because gas is too expensive.

So, I'm back to square one and am quite frustrated with the lack of professionalism, common courtesy, and simple laziness I've witnessed. I'm wondering if buyer's agents are only looking for stupid people with money who won't demand services for the commission they receive.

Right now I am very leary of signing ANY buyer's agreement and if a buyer's agent wants my business they will have to prove it because I've had too many so called "professionals" waste MY time and MY money.

I've been lurking the board for a while and find the information here quite valuable since I might have to do 99% of this transaction myself. I know I'm "new" so if I'm dismissed as a troll, I understand.

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#69911 - 10/10/06 09:06 PM Re: Burned Again
ky realtor Offline
Major Contributor

Registered: 04/21/05
Posts: 1879
Loc: kentucky
MC-Since we have only heard one side of this story, it would be difficult to assess the situation you have. But from what you have said it may be one of two things: All agents are unprofessional and lazy, lacking common courtesy, etc.---or, could the problem be you?
Just a thought----
_________________________
Comments made are my opinion, and not intended to be legal advice of any kind.

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#69912 - 10/11/06 08:24 AM Re: Burned Again
fatmaxxv Offline
Veteran Member

Registered: 05/23/06
Posts: 724
Loc: Frisco, TX
mc, I'm sorry that your encounters with the buyer's agents didnt go well. And I know what I say is bias because I'm an agent.

I agree with you that alot of them dont do a good job in following up and many times, agents dont seem that they work hard. But I can tell you that there are some that works hard for their clients, go above and beyond the call of duty - just like any other profession or businesses. There are good ones and bad ones. Great hardworking people are hard to find because they are too far and few between.

I hope that you will find one that you can work with. Also, you can sign an agreement to represent just on the houses you was shown to you. Work on that relationship until you feel comfortable.
_________________________
Maxx is my Basset - Blog -ging is my new hobby
Real Estate Broker
Frisco-TX-Homes.com: Comprehensive Guide to Frisco TX Homes for Sale
Frisco, TX - Suburbs of the Dallas, TX metroplex
**********
I make myself rich by making my wants few

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#69913 - 10/11/06 09:36 AM Re: Burned Again
mchammer Offline
Junior Member

Registered: 10/10/06
Posts: 5
KY,
You raise a valid question; one I've asked myself; about myself. One shortfall of message boards is you only hear one side of the conversation and have to form judgments based on an individual's remarks. After the "third strike" I did some serious self examination to see if I've said something or done something to "run them off"....and the answer is honestly no. There's nothing worse than a demanding, abusive, unrealistic "client" and those should be dismissed just as quickly as an incompetent, lazy agent.

One problem I'm facing is I have to go into a market in complete ignorance about agents and their true ability. There's no industry list that reflects "promises made/promises kept" so potential clients have to rely, to a great extent, on the agent's self promotion and supposed expertise.

If you read my comments I never said ALL agents are lazy and/or incompetent and my opinion is quite the contrary. When I sold my house I did extensive interviews with a number of agents and selected one of the finest I've ever dealt with; a true professional and the results of his efforts were extraordinary. I believe that is why I am so shocked and disappointed with my experiences on the other side of the equation.

I jumped into the conversation because agents who complain about clients who don't live up to THEIR word need to take a self inventory to see if the problem lies with THEM; not the client....it cuts both ways.

Fatmaxxv, Thanks for the comments and suggestions; I appreciate your insight.

I'll probably go with my backup plan. I've contacted my selling agent and he's delighted to qualify a buyer's agent for me in the cities I'm considering. I have total confidence in his ability to put me together with someone of his caliber....and he'll continue to make money from our business relationship by receiving a referral.

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#69914 - 10/15/06 12:08 PM Re: Burned Again
RealityRealty Offline
Member

Registered: 06/15/06
Posts: 80
Loc: By the Bay
Mc, That was the best thing you could have done. We, as Realtors, have our own contacts in different states, etc. Of course, you can still be burned, but usually we already know the Realtor we are sending you to. I personally have a contact list thru-out the US of people I "know" and will be happy to vouch for. I'm sorry you had such bad experiences 3 time! Hopefully that will be it. I am, as you may guess, a buyers rep and I spend hours of my time looking for the "perfect" home. I try to help with the mortgage qualification if I know they are low income by researching grants and programs in the area they are looking for. I also have them sign an agreement to work exclusively with me. That is how I conduct my business and it makes me angry to hear of people being burnt because it gives ME a bad name. Hope the rest of your experiences will be better. Happy Home hunting!

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#69915 - 01/19/07 05:18 AM Re: Burned Again
VRS Offline
Member

Registered: 03/11/05
Posts: 95
Loc: Jackson, GA
In GA, if you mark on the contract that you represent them, you must have a signed Brokerage Agreement now.
_________________________
D. Gibby

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#69916 - 01/19/07 09:39 AM Re: Burned Again
RESTEVE Offline
Member

Registered: 10/28/06
Posts: 417
Loc: Kansas
MCHammer. What state are you looking in? I agree with some of the other posts. Its unfortunate that you have run across some agents that dont keep contact. There are agents out there like that. But there are a lot of us that will do everything we can to find a serious buyer a home. Maybe there is some reason that they are not taking you serious maybe not. Do you have a pre approval or proof of funds? Are you realistic in what you are searching for? Are you willing to meet an agent at the office? We dont mind being accomodating usually but you also have to give us the same. We get alot of potential buyers that will cancel showings because they want to watch a football game on sunday. They are not taken very seriously. What is more important watching a game or buying a house. Also one thing I recommend to buyers is before I set up a showing they drive by the house and see if there is any interest. As for FSBO's I do contact them but usually in a letter or have the buyer contact them because of the Do not call lists. Just my 2 cents!

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#69917 - 01/20/07 01:40 PM Re: Burned Again
Devil's Advocate Offline
Veteran Member

Registered: 01/03/05
Posts: 538
Loc: Ontario, Canada
Locally: I, never do anything without a signed agreement in place because here's why. LOCALLY, and I do mean locally, the first question an agent will usually be asked, is "What is the status of your relationship" because, before they say or do anything they want to know who you are representing, if anyone?

As of last count, we have the following "representation agreements".

Seller (fiduciary) representation
Buyer (fiduciary) representation
Lessor (fiduciary) representation
Lessee (fiduciary) representation

Multiple (non-fiduciary) relationship, (formerly a duel agency agreement) requiring full disclosure, knowledge and consent of all parties.

Customer (non-fiduciary) relationship, this is to avoid claims that an agency relationship was formed "by implication" and clarifying that the party is without representation , and also leaves the agent free to represent the opposing party in a Customer's transaction, without consent.

These " relationship options " that must be explained and disclosed in writing to a consumer at the earliest opportunity and their choice must be disclosed to other agents upon request.

Sorry, if this is not directly on point.

Locally: means within the legal jurisdiction of the writer as noted below.

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#69918 - 01/24/07 11:38 AM Re: Burned Again
Pikes Peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2799
Loc: FL
mchammer said:
Quote:
Searching for our "last" house and have narrowed it to three cities in a couple of states.
How motivated would an agent be knowing he only has a one out of 3 chances to get paid?
Maybe an up front refundable retainer fee would make a difference?

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#69919 - 01/27/07 08:48 PM Re: Burned Again
Rep Offline
Junior Member

Registered: 04/22/06
Posts: 2
Thank you all for your input and advice. I now qualify all my buyers and ask Are you working with a Realtor? - even still I usually go with my gut feeling as to whether I want to work for someone.

My main issue from this experience is that the buyer agency agreement should be mandatory from day one - just like a listing agreement is - with a cancelleation agreement if someone wants out...


I feel I am a gambler and a Realtor, through my work - my time and efforts are all in the air until the deal is done. There are negative experiences with insincere and unrealistic people but I have also had great clients and some new friends from these deals.

What about a Realtors Union with medical benefits and a pension plan for all us independant self-employed mavericks who live in the wild world of commission-based income??

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