Buyer's Agency Agreement--When Do You Sign?

If you have looked at a house in the past or are looking at a house now chances are your Realtor has asked you to sign a buyer's agency agreement. The question is not if you sign one; but when.

A buyer's agency agreement means that you as a buyer have hired me to represent you in locating a home. I now work exclusively for you. In North Carolina if you do not sign one then ALL agents work for the seller and your interests are not protected. When you sign one it is like an attorney/client privledge. What you tell me, I cannot without your permisssion, relate back to the seller or the seller's agent.

But when do you sign one? That is a question that I have given a lot of thought to. Once that buyer's agreement is signed you and I are locked in a marriage until we find the right home for you or it expires. I know some agents that will nto under any circumstances take anyone out until they sign the agreement. I know other agents that will show homes once and then the next time they want to go out and look at homes they ask them to sign the agreement. Last, I know agents who have waited until they have found a home before they have asked the buyer to sign an agreement.

But what is the right time? I guess it all depends. I, for one will explain in detail the buyer's agency agreement with somene when I first meet them. I will leave them a sample copy to look over and read. I tell them if they have any questions please ask me. And that if they sign this they are basically letting me represent them exclussively in their search for a home.

Then usually a few days later I will ask them if they have any questions or if there is anything on the form they like me to explain. I will ask at that time if they are comfortable enough working with me to sign the agreement. But, is there a right time or a wrong time? It all depends on you and your agent. But make sure you are comfortable working with that agent and that you feel they are working for you before you sign anything.

Dave diCecco
Realtor/Broker
www.davedicecco.com