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?

I know you are in a different aspect of the real estate transaction, however we have to utilize our sales skills due to the overwhelming competition out there. What works for me and I have been very succesful in retaining my clients is to be confident, knowledgable, firm, understanding and most importantly listen to them. This is where you will capitalize on your negotiation skills. Always assume the sale.

Until you can answer their concerns over signing an EBA you are going to have a hard time getting them to sign.
How do You present the EBA to them?

What reasons do they give for not signing?

You can tell them you don't work without them, that it isn't fair to your other clients, who do sign. You can develop personal professional policies that do not include working with anyone who is not loyal, period.

Write this down and stare at it until it sinks in:

If the end result will be NOTHING, wouldn't you rather be home with your family, golfing, whatever makes you happy rather than wasting your time, efforts, gas, etc.?

Your first problem is that YOU do not believe in signing an agreement to work with YOU. If you were someone else, you would not sign one to work with you. Why is that? Until you sell yourself on YOU, you won't find success selling yourself to others.

Clients who work with 5 agents and talk to 20 - can you imagine the opinion they had of you and the other 24 agents? They were playing each and every one of you, and all 25 of you were desperate enough not to care. Change the message you put into the world!!

Good luck!

Here's part of a great script Oliver Franscona, a Colorado Realtor and attorney teaches in his book: "The Digital Paper Trail"

Payment
Getting buyers to be happy with the concept of paying you.
1. Real estate brokerage is my job.
"So, tell me what do you do for a living???"
"Oh, we're retired, employed, whatever....."

"That's nice." "I am a professional real estate broker. My goal is to help 3 or 4 families buy or sell a home each month. If I can do that, I can make a living (or feed my family, or send my kids to school, or whatever)..........."

2. Permission to get paid
"Is it all right with you if I make money as a result of helping you buy a home???"

This is like reading a menu in a restaurant when you order. If you know what the meal is going to cost before you order then there's usually no arguement when the check comes.

If you're having trouble asking them to sign a buyer agency agreement for a long period of time try asking for shorter periods initially.

Say something like this: "I am not sure how well we will work together. Why don't we start with just today (just 2 days, just this week, etc.) If at the end of that time period you still want to work with me, we can extend our agreement."

And there's several more pages of dialogue about how to get their signature on paper but this book is copyrighted and the author is an attorney. :p

You might want to consider buying a copy of this excellent book. It will make you money and also go a long way towards keeping you out of trouble.

http://www.frascona.com/products/products.htm

I won't take a client out until we've had a buyer counseling session. They also have to have an approval or certified funds letter in hand. In the counseling session, we decide whether we want to work together, then they have to "hire" me with the buyer agent agreement.

If they don't want to hire me just yet, we can send them to a lender to get fully approved, then when we find a property that can work with them, they sign the agreement for that day. Usually, the buyer will sign an agency agreement for longer, but I at least want the properties I show on the first day. If they don't want to sign after the first day, they can go work with someone else.

I make sure I absolutely have a buyer agency agreement if I am submitting an offer.

I wish I was in your areas! In this area, we don't do EBAs. Wish we did, it would eliminate a lot of wasted time. Couldn't get a buyer to sign one because no other company uses them.

Be the first.

You'll never know if a buyer will sign one or not unless you ask.

You don't do EBAs because you don't do EBAs; no reason, you just don't. :p

We're the ones having the problems with EBAs; buyers have no problem signing one if they think it will benefit them, which it will.

Become an Accredited Buyer Representative (ABR) at http://www.rebac.net and become the best buyer's agent in your area.

I like working with trade up buyers. I have my Indiana sellers sign an EBA at the time of listing. Illinois prohibits tie-in agreements so I have to word things a little different when working there.

Actually in GA it just came down that eba's are going to be a requirement as there have been too many disputes over procuring cause and who is due a commission.They know it won't eliminate the disputes but it will lessen the cases and determinations can be made easier with a contract instead of 2 agents verbally claiming procuring cause.

Also they are making us have it signed to show representation,this is what started the eba to protect the buyer and all the lawsuits that happened previously over who was being represented the buyer or the seller.

As to the other question we all pretty much offer the same thing,it's how you package it that makes it look like you have something knowone else has.

Example:Free list of homes e-mailed to you
(sounds like what everyone else is doing)

Better example:Get access to all homes not just mls listed!Fsbo,foreclosures,new homes,estate sales.Insider access,get the hottest deals before everyone else!

It can be made shorter but you get the point,it's all in the packaging.

Do this:

1.buyer counseling session(explain benefits to them of what makes you different=valuable to them"

2.go over eba and how it benefits them.

3.explain financing and how you cannot negotiate anything for them because without a pre-approval letter the seller will not seriously caonsider there offer."It would be a shame to find the perfect house you wanted and lose out to another buyer because you didn't have financing in place"

Your using fear of loss here the greatest motivator.

If they won't do these things i wouldn't take them out.

I wouldn't have worked with them in the first place. When I do a buyer counseling session, I inform them about how I work, our mission, goals, philosophy, etc. The short explanation is that I work mostly by referral and build a trusting, longterm relationship with clients. I explain that I don't work with everyone and not everyone will want to work with me. If they want me to work hard for them, if I choose to work with them, I will commit my time, money (because I pay showing agents, etc.), energy, and resources. In turn, they have to hire me.

If they aren't sure whether they want to work with me just yet, they can go work with other agents. Once they want to work with a professional, we can sit down again and sign an EBA. If they refuse to commit to me the way I am committing to them, they're not win-win and they need to go somewhere else (as I mentioned earlier).

I think many people don't want to sign an agreement until they are sure that they enjoy spending time with you and have a feeling that you are "in sync" with them.

So I explain the EBA, but I spend one day working with them. During that time I'm deciding IF I want to work with them... If they want day two, they either sign an EBA or I'm out.

I don't work for free... the ones that won't sign are usually going to burn you anyway, so save your time and send them to someone else...

After getting burnt a few times (new in the industry), I absolutely agree with your methodology of doing business. I plan to do that also. I see this first meeting as a crucial point in a successful relationship and transaction.

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.)

May I suggest that the next time you get a call to show a property from someone new you ask "Are you working with any other Realtors?". That would give you an opportunity to explain how you work plus you may decide if you would/would not like to work with that person.

Great response Jacqueline! Thats the way I handle it. I never ask anyone to sign Buyer Brokerage, becuase for some reason it scares them to death. In GA, to terminate it, all you have to do is notify the broker in writing, so basically if they want to screw you, there going to screw you. So why even bother.

Was there a point you were attempting to make by this post?

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.

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.

"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

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.

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----

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.

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.

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!

In GA, if you mark on the contract that you represent them, you must have a signed Brokerage Agreement now.

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!

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.

mchammer said:
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?

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??

Not only do I get them to sign a buyer agent contract, I charge them extra. If they agree, I know we will close and not just spend time running in circles. I am not outrightly looking for Buyers, so when they appear, they must play by the rules, otherwise - Next! Too much time lost servicing my Sellers, to waste time on Buyers who are not very very serious. Sometimes it takes a couple of meetings to get the signature, but like some others posted, the Buyer needs to go work with other agents to find out what they're missing. Then they come back and sign, gladly, on the dotted line because they know that "I" am serious, too.
See:
DO YOU HAVE AN AGENT? (or - who’s in your corner?)
(too many questions get asked? - agents get frustrated, too)
http://www.carolyne.com/bramptonhomes/agent.html


Carolyne

President and Broker of Record

Carolyne Realty Corp. Real Estate Brokerage

http://www.Carolyne.com

http://www.ePowerOrganizeIT.com (the only organizer you will ever need)

I mention it in the first conversation. "I work as a Buyer Rep and I will need you to sign a contract, which pretty much says that you will only work with me for a specified period of time". I haven't had anyone say no, and if they did then what have I lost? What I have gained is all the time I would have put into them for nothing! This is your job and you need to get paid. If you don't get paid, this will not be your job. Very simple:)