Wednesday, May 16, 2012
When Should You Sign A Buyer's Agency Agreement With A Realtor In Charlotte,NC.?
This question has been around since North Carolina instituted buyer's agency. But, the question remains open as to when do you sign a contract with a realtor to have them work exclusively with you?
Most Brokers and trainers out there will tell realtors to get one signed as soon as they can. But is that the best thing for both of you? There is some risk involved in not having a client sign a buyer's agency on the Realtor's part with time and money spent (and potentially lost) if they go to work with someone else after the first Realtor has done all the work for them and found them the house.
On the other hand, what if after you have signed that buyer's agency agreement you cannot get the Realtor to call you back? Or they take their time in calling you back/ You are unfortunately under a contract with that realtor up to a certain time period...most go six months to a year.
So, there is arguments for both sides. I have been on the side of losing a client for not having a buyer's agency signed and know how it feels...But, on the other hand; I have always looked at this business as one in where I am helping someone make the largest financial decision of their lives at that time. You should not push someone to work with you.
I personally, explain the buyer's agency agreement to ALL buyers and give them a copy of it to look over and read. I believe they should not be pressured into signing it and if they are not completely 100% satisfied with me or my services then by all means fire me. I am confident enough in my abilities and work hard for every client that I do not worry about losing someone for that reason.
I have some clients sign the form the day after reading it. I have had others sign it when they knew the house they wanted to buy and wanted to put an offer in. And everything in between. the difference is I do not pressure them it sign it. I think to many realtors work on the adage and old philosophy that the buyer will leave them in a heartbeat if they do not get it signed.
I work on the adage that good things come to people that wait and work hard... I want someone to sign it because they have entrusted me with helping them make the decision to help them through the process of finding a home and closing on it. Not because I made them do it.
If you are talking to Realtors out there and they insist they cannot help you without signing it; find another realtor...if you are happy and comfortable with your realtor and know that he/she has your best interest at heart...sign the form.
But there is no law in North Carolina that says a buyer agency agreement must be signed in order to view homes. Only if you want representation when you submit an offer...Then I recommend you sign before that.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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