Home Buying in 75093>Question Details

mikph, Other/Just Looking in 75093

A realtor is asking me to sign a contract to exclusively buy from her . Is this typical?

Asked by mikph, 75093 Wed Jul 2, 2008

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26
Naima Sumner’s answer
Yes a buyer representation agreement is required if you want that agent to work on your behalf. Lack of such agreement means that the agent can show you homes but will be representing the seller in the process. The lenght of time and terms are negotiable though. An agreement can be made for 1 days, a week or simply for a specifi property only.

Naima
214-289-8555
naima@sumner-realty.com
Web Reference: http://www.sumnerrealty.com
4 votes Thank Flag Link Wed Jul 2, 2008
This is a typical practice and is meant to protect you and the agent. If you have questions you should address those with the agent.
3 votes Thank Flag Link Tue Jan 21, 2014
mikph,
I am not a TX licensed agent, and therefore cannot address the laws of agency which apply in your state. I would recommend that you gain a thorough understanding of the agency relationships that apply in your state, as it may have a substantial impact. Ms. Summers replies earlier that, absent a buyer agency agreement, the agent will be representing the seller. As a buyer, that would be unfavorable to you. As Ms. Summers suggests, you can draft buyer agency agreements for brief periods, even a day. Once you become acquatinted and confident with an agent, you can draft your agreement for a longer period of time. BTW, Tman in is neither a licensed agent, nor is he a resident of Texas, and he has a history of mulitple facutally inaccurate posts, so do consider thses facts before heeding any advice from him.

As a general statement, agents will work harder for the buyers with whom they have contractual agreements. Your best advice will come from those RE Pros in Texas, since agency relationships and the laws governing them vary state to state. There are many general questions on Trulia which can be answered equally well by persons from outside of the state of the question. In your case, I recommend that you place prioroty on the answers that come from RE Pros within Texas.

Best of luck
Deborah
3 votes Thank Flag Link Wed Jul 2, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
Hi Mi,

Yes, that's very normal in the real estate world. An agent works hardest for their clients whom they are representing their best interests. That's what the contract is all about.

Happy to help,
Terri Hayley
3 votes Thank Flag Link Wed Jul 2, 2008
Signing a Buyer Rep Agreement in TX secures a working relationship between both parties. For the buyers, it locks in your agent's loyalty, confidentiality, and full disclosure. For the agent, it signifies a commitment from the buyer. If your working relationship isn't working, it can be terminated from either party. Your agent wants to work hard for you, otherwise there is zero compensation. Imagine not getting the desired services (for weeks) from doctors, lawyers, contractors, mechanics, and such and Not having to pay them for their time and expertise. Yeah, that'll happen. Find an agent with whom you have complete confidence in their services, sign the agreement, and enjoy the road to the closing table. Good Luck.
2 votes Thank Flag Link Thu Jul 10, 2008
Yes. At some point you want to solidify your relationship and that's how you do it. You want them working for you and until you sign the buyer's rep, they're really working for the seller.
Web Reference: http://www.teamlynn.com
2 votes Thank Flag Link Wed Jul 2, 2008
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Very typical.. only of a great agent though! Best of luck on your new home!

Thanks,

Josh
2 votes Thank Flag Link Wed Jul 2, 2008
Yes, Helps protect you and her. Ask her to explain it. Make sure you want to hire her as your agent.
Good luck.
J.
2 votes Thank Flag Link Wed Jul 2, 2008
Yes, that is standard real estate practice. Ask her to explain agency to you... I'm sure she would be delighted to help you understand.
2 votes Thank Flag Link Wed Jul 2, 2008
Yes, this is typical. The agent will represent you in finding exactly what you are looking for. This can save you a lot of time and energy! Agents have the most current information at their fingertips!
1 vote Thank Flag Link Sat Jan 25, 2014
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FREE 16 Home Buyer Due Diligence Links
1 vote Thank Flag Link Wed Jun 12, 2013
The buyers agency agreement protects both you and the agent. The language in the contract is mutually agreed upon, so if you sign that means you have agreed to the terms. They can be structured in many different ways and if you want to leave out fsbo homes your agent will have to agree.

Chris
1 vote Thank Flag Link Wed Jun 12, 2013
What she is asking you is will you commit to work with her, exclusively negotiate through her so that she can represent you while helping you to look for and asquire a home for sale. They are standard contracts, some agents use them and other's do not. It is also common if you have not been working with her for very long, to allow her to use the form to state she represents you on a specific home for sale, and see how you like working with her first. Optionally, if she is the listing agent, you can choose your own buyer's agent. It sounds like your hesitating. Have you talked to a few before you decided? Pick up the phone and call me for a no-obligation consult!

Nicole Arenas
REAL Estate Consultant, REALTOR
214-991-9507
1 vote Thank Flag Link Mon Mar 30, 2009
Yes, A realtor wants to make sure you are serious. I personally feel if after our first meeting, you will know on whether you want to hire me to work for you? I also need to know? If I can work for you. When you do hire a Realtor as your Buyer's agent, you must make sure you are available the same hours. I and my parner believe in 110% Customer Service! There are agents out there that will work 8 to 4 monday to Friday. Does that work for you? I have clients that are only available weekends, weekdays after work?
If you feel that you need an agent that can customize hours to your schedule, feel free to email or call
bcapobianco@remax.net
Call (972) 757-4527
1 vote Thank Flag Link Mon Mar 30, 2009
Absolutely! Make sure they will available when you need them, not when they want.
Flag Tue Jan 21, 2014
mikph,

This may be a little late but, in agreement with others, this is a perfectly acceptable arrangement and is quite common.
1 vote Thank Flag Link Mon Jan 12, 2009
YES buyers agent invest tremendous amount of time searching for homes, tours, speaking with listing agents, research, and more represent you from start to finish. Most buyers have NO IDEA that with every buyer good agents have over 40 hours vested in your file from moment we 1st speak with you thru closing.

If I can assist you contact my office
972-699-9111
Lynn
Web Reference: http://www.lynn911.com
1 vote Thank Flag Link Mon Jan 12, 2009
If you like working with your Realtor and you want proper representation from them, then signing is a good thing for both of you.
Your Realtor should give you a Information of Brokerage Service form, which shows you how agents work. This should help you see what a Realtor that represents your interest can do for you.
Good Luck,
J.
1 vote Thank Flag Link Tue Nov 11, 2008
Yes this is very typical. I usually don't have my buyer's sign these agreements but I was recently burned by a client who looked at 13 properties with me and she never told me she was also looking at properties with other Realtors.

Then one of the Realtors had her sign this Buyer's representation agreement and she made an offer on a property I showed her. I will from now on get all my buyer's to sign these forms... It not only protects me but it does show the client that I am looking out for their best interest as well.
Web Reference: http://www.NickGood.com
1 vote Thank Flag Link Tue Nov 11, 2008
Yes it is usual, but you don't have to sign. If you don’t sign, you will not be represented, which means that your Realtor will not behave in your best interest. It may sounds strange for you, but in this situation your Realtor will represent the seller. To sign will not cost you anything, to be represented is all of your best interest. You always could fire your Realtor.
1 vote Thank Flag Link Thu Oct 30, 2008
It depends on the policies of the individual agent. A good confident agent knows she or he is going to give you a 100% commitment to help you find the perfect home, by signing the agreement you are giving her or him your commitment back that you are willing to work with them just as honorably as they are working with you. Personally, I will not take out a buyer if they do not commit to work with me exclusively. It really is an advantage for you as a buyer because if the agent has other buyers that sign the agreement it means they are fully committed and by not signing, you have one foot in and one foot out. Who do you think will get the most service and attention??
Try it for a limited time, like 45 days and see how it works. If you dont feel comfortable with the relationship going in, dont sign and find someone who you think is a better match. No matter who you go with, working with one agent is the best way to find your dream home!
1 vote Thank Flag Link Thu Jul 31, 2008
If you are uncomfortable signing, you can make the agreement specific to a city, to a date, or even just to one specific home. But, I won't show a house in any price range without having a Buyer Representation Agreement on file. I even made a professional football player looking at a million dollar home in Frisco sign one before I would show the home. That document allows me to share my professional opinion and advise with you about the homes we would tour and allows me to work for the prospective buyer. Why would I want to do this job with my hands tied and not be able to share all that I know? Without that document, all we are allowed to do is give factual information from the MLS on the property and we work on behalf of the seller.
Web Reference: http://www.rondaallen.net
1 vote Thank Flag Link Thu Jul 31, 2008
This is very typical. If you want someone to represent you it should be in writing. If you are not comfortable signing the contract you may consider signing it for a limited period of time such as a week or a month to see how the relationship develops. Have your realtor explain Texas agency to you.
Web Reference: http://www.Carolpease.com
1 vote Thank Flag Link Wed Jul 2, 2008
mi kph,

Yes, that's the typical scenario that agents would prefer ... but it certainly doesn't help you and it's not to your advantage..

Like any marriage in life, you have the honeymoon .. you may not see eye to eye for the first 3 days or maybe even the first 2 weeks ... you might want a divorce in 10 days because of personality clashes or maybe because of strategy differences - which is common ...

Agents get paid for what they earn ... if the agent has earned your respect in a week or two, maybe sign a 30 day contract ... you might prefer working with more than one agent, who ever finds the "golden palace" wins the contract ...


-
1 vote Thank Flag Link Wed Jul 2, 2008
Yes, that is typical in "todays" market especially. We as Realtors want to represent those who we build a good relationship with to ensure a smooth buying process, it's all in your best interest.

Good Luck
Bobby Cheatham-Realtor
1 vote Thank Flag Link Wed Jul 2, 2008
Yes, that is called the Buyer's Representation agreement. When you find a home you love, this allows the agent to be paid by the seller. It is in your best interest to find a reputable agent to help you find a home and represent you in the transaction--it will save you a lot of valuable time and hassle.
0 votes Thank Flag Link Fri Apr 11, 2014
Need home buying info in 75041 area code. buyers realtor, inspections,.etc.
0 votes Thank Flag Link Mon Jan 20, 2014
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