Buyer Agency Agreement Scripts & Objection Handlers

[@michaelacannon397]

I had a listing client a year ago who ended up a buyer. I showed her lots of houses and finally found one, offered on it, opened escrow and went all the way to final verification of property condition, when her daughter made me cancel the contract stating she didn't' want her mother living alone at this point in her life. Broker told me to just do it so, that was that, or so I thought. I didn't have a buyer's agreement because, well, I had her listing and what I thought was a good relationship. So we canceled and three weeks later she bought the same house, same offer, same escrow company, with another agent. Of course I took that agent to arbitration and won 75% of the commission, but my point is, just because you have a listing with a client doesn't mean you don't need a buyer's agreement. If I had it, I might have won my entire commission, which I deserved.

[@tightkitchen]

+Michaela Cannon-Wagnon I've never heard of a story like yours Michaela. I am glad that you got the lion's share. Thank you for sharing that incredible experience of yours.

[@nipples8776]

Wow!!!!

[@tyhearijones-vq1cb]

Lord he is wanting a script and none of them actually gave a script I was looking for a role play or some kind of charity

[@roger_1046]

the 110 likes were all real estate agents and the other 6 dislikes were from clients.

[@chronole1118]

Lol....because those who disliked it are the ones who did wrong

[@mikecojocari7697]

I have my client sign during our second meeting. It would be bad for you if you waited too long to sign. The buyer might find something on his own and make an offer without you knowing. You don't get paid because there was no comp agreement. It happens.

[@tamimoncrief2264]

Dont do it, youre being manipulated by these realtors

[@jvolstad]

As a buyer, why would I want or need a commissioned Real Estate Salesperson "representing" me?

[@jvolstad]

+Larry Baker You are comparing a Real Estate salesperson to a lawyer?

[@nicotiginagas9256]

+jvolstad Buyers are typically making one of the biggest purchases of their lives. Do you not think that you would want expert advice and ensure that a qualified individual is representing you? Buyers without professional representation are open to a lot of liability and potential hardship. Common examples include buying a home with physical issues that would be unknown to the untrained or perhaps buying a home with legal problems or inconvenient encroachments and/ or covenants. There is a ton of work that goes into ensuring that the buyer gets exactly what he/she deserves and is entitled to. By hiring a real estate professional you shift most of that liability and work on to them, this protecting yourself. Not to mention the monetary negotiations. Also, when dealing with a sellers agent they are exactly that, the sellers agent. Not yours. They are acting in the best interest of their client. The best way to describe it is like buying a car. You can buy it privately , but then you're in a buyer beware situation. As soon as title is transferred, anything that goes wrong is your responsibility. However, if you bought it from a dealership, whether the car is under warranty or not there are laws protecting the buyer. There is "grace" period protecting the buyer, where if something outside of "normal wear and tear" goes wrong with the vehicle the dealership is required to repair or replace it. They usually do not tell you but this is one of the main reasons that you pay a "premium" from a dealership. Not to mention the fact that the vehicle gets inspected and detailed. Both professions exist to protect the buyer and seller. AND BTW there are brokerages that offer flat fee services for real estate if the commission makes you feel uncomfortable.

[@jvolstad]

+Nico Tiginagas You assume that the so called buyer agent is representing the buyer's best interests. Outside of a different job title, both the listing agent and buyer's agent are both commissioned salespeople.

[@nicotiginagas9256]

***** You have a better idea of how they should collect their fee and be paid for their work? Some agents do charge a flat fee, so in fact you cannot paint all agents with the same "commission" brush, so to speak. Also, agents are held up to a code of ethics and standards similar to lawyers, accountants and doctors. They have a fiduciary duty to work in their clients best interest, before anyone else's including their own. So yes, I am assuming that they are working in their clients best interests. It's a 200 year old profession for a reason.

[@kanitareed06]

To keep ur butt out of trouble!

[@PaulHoward111]

That so called 'exclusive buyer agreement' is deceptive. Those agents work for sellers. If you sign their fake agreement you will find that all it does is tie you to their company - they want you to be exclusive to THEM but not the other way around. A real Exclusive Buyer Agreement is a two way street. It includes a promise by the agent AND THEIR COMPANY that they NEVER and will NEVER work for seller. So, they will not dump their advocacy for you in the middle of your search.

[@nipples8776]

So if you want a specific property and I happen to have a listing that fits it perfectly, you don’t want it?

[@PaulHoward111]

@@nipples8776 Sure, and I'm sure MY buyer agent will bring my offer to you.

[@virginiazambrano1579]

Too scatered...

[@anavaldivia3252]

I agreed with the way the issue is presented to the agents regarding the need to have a buyer's agreement in place. However, in my opinion, the agent should not "explain" the agreement or contract to the buyer; because that constitutes practicing law without a state license. Unless, the agent happens to be a licensed attorney in that estate.

[@kanitareed06]

Ana Valdivia, no practicing laws is drafting legal forms or and giving legal advice....not to be twisted with Explaining a form

[@mariemitchell4323]

In NC, our Real Estate Commission requires us to explain every paragraph of the Exclusive Buyer Agency Agreement form. We just can't draft contracts in our state. It is our fiduciary duty to explain all the forms and fill them out competently thats needed for the purchase or sale of a property to our clients

[@kcstorytime4898]

A real estate agent is allowed to explain the Realtor Association Forms as the are licensed with knowledge in that area of law. They are not allowed to give them legal advice such as telling them what they should do. As it goes with contracts it is required to explain the terms of the contract to the client so that they are fully informed. As long as the real estate agent does not offer advice on what the client should do they have not acted in a manner that constitutes practicing law.

[@kingtrawal]

These are some trashy looking realtors.

[@urkilnme2]

Never sign a buyer's agent agreement if they cannot negotiate for you a lower price that means they're not the right agent

[@kingtrawal]

commas are your friend...

[@yadili1385]

If they can't negotiate their own commission and they can't even assure they get paid by having a buyer's agent agreement, then how can they be a good negotiator at all?

[@nipples8776]

So if there are 6 other offers how are they supposed to “negotiate a lower price” ?