For your protection, sign a Buyer Agreement with your Real Estate Broker

For your protection, sign a Buyer Agreement with your Real Estate Broker

Three crucial things Home Buyer’s need to understand about their REALTOR in this market:

 

  1. If your REALTOR takes a day off, you may miss opportunities.
  2. If your REALTOR has more than one buyer client and two homes come up for sale on the same day, you may miss an opportunity.
  3. If your REALTOR doesn’t know your criteria, your budget and what areas of your criteria you are willing to forgo or compromise, you may miss an opportunity.

For most Home Buyer’s the process of buying a home is riddled with assumptions and those assumptions are made by both Buyer and the Buyer’s REALTOR.

Problem #1)

In a typical market, a REALTOR can take a day or two off and still be able to show a wide variety of homes.  In an inventory crunch,  homes often sell within the same day (if not hour) of being listed, meaning your REALTOR is now essentially “on-call.”

Problem #2)

In a typical market, a REALTOR can balance the needs of a number of home buyers with relative ease.   If your Broker is now working “on-call’ the number of clients he or she can juggle is reduced dramatically.

Problem #3)

In a typical market, there is ample time and circumstances to flush out the assumptions.  I.e., the Buyer views a home and tells the REALTOR what does or doesn’t work and the search is refined with each showing.   But what happens in a market where there aren’t enough homes to show to work through these issues, and how does a REALTOR know what areas of compromise to suggest without the process of comparative shopping?

The Solution…

The last thing a buyer wants in a tight market is to miss opportunities because of assumptions.    The only way to ensure there aren’t any wrong assumptions is to sit down with your REALTOR and ask them how they are dealing with these issues, and in a market such as this, it is wise to have a Buyer Agency Agreement.

My intention is to ensure you find the home you want in the time you want, and that starts by having an honest conversation about not only the limitations of the marketplace, but also the limitations of me as your REALTOR.

As a matter of policy and to help eliminate miss-understandings, I will not be taking on an Agency Relationship without a written agreement.   If you would like to arrange a meeting to discuss your needs, my availability or my dedicated Buyer’s agent’s availability, please click here.   If you prefer to work without a written agreement, I have a number of great REALTORS I can recommend or visit my office’s agent page here.