Voyardpublic, Home Buyer in West Palm Beach, FL

Do all agents use a buyer's agreement?

Asked by Voyardpublic, West Palm Beach, FL Wed Mar 20, 2013

What are the advantages and disadvantages?

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No. I have heard and seen the agreements but have never met a fellow Realtor who actually uses them. The basically are signed to make sure the agent will be compensated for their work by the client agreeing to work with them until a property is purchased. It is a question of Loyalty. Agents don't get paid unless there is a closing. If the buyer finds another agent and leaves the one they have been working with hanging, they will never recuperate the money spent in gas, time invested, and education/knowledge provided....not even break even, it will be a financial loss.

My experience is most clients will be as loyal as I am towards them. Have been burned a few times, but I chose to continue to believe most people are inherently good. So no buyer's agreement in my future. Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".

Tony Vega
La Rosa Realty
0 votes Thank Flag Link Wed Mar 20, 2013
No, not all agents use them. I can read people well enough to know if they're serious, or if they're working with multiple agents, and making them sign one more agreement doesn't really reinforce a trusting relationship.
1 vote Thank Flag Link Wed Mar 20, 2013
Yes not all agents uses a buyer agreement. I do, buyers making the commitment are usually more serious, The relationship is also better,because both parties are committed,
1 vote Thank Flag Link Wed Mar 20, 2013
No, all agents do not.

I do, and it's not just a matter of banking on the buyer's loyalty. I use listing agreements too, and there's never any talk of questioning the seller's loyalty, I just do it.
1 vote Thank Flag Link Wed Mar 20, 2013
Not all agents use these, I have never used it, but then most of my buyers are confident of my abilities and knowledge that I do not need one.Advantage buyer - they will have a dedicated agent working hard for them. Disadvantage: you can get stuck with a bad agent. Advantage Agent: They can work hard knowing that the buyer will stick with them and do do not lose time and effort and of course they can not work in your interest and still get away with it. Disadvantage - None probably
Web Reference: http://mypbcshortsale.com
1 vote Thank Flag Link Wed Mar 20, 2013
No. I have heard and seen the agreements but have never met a fellow Realtor who actually uses them. The basically are signed to make sure the agent will be compensated for their work by the client agreeing to work with them until a property is purchased. It is a question of Loyalty. Agents don't get paid unless there is a closing. If the buyer finds another agent and leaves the one they have been working with hanging, they will never recuperate the money spent in gas, time invested, and education/knowledge provided....not even break even, it will be a financial loss.

My experience is most clients will be as loyal as I am towards them. Have been burned a few times, but I chose to continue to believe most people are inherently good. So no buyer's agreement in my future. Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".

Tony Vega
La Rosa Realty
1 vote Thank Flag Link Wed Mar 20, 2013
Most Realtors do not. We work tirelessly trying to find the right house for the buyer and would hope that they would be loyal. After 34 years of real estate I have had many buyers walki into an open house and buy it only to suddenly forget about me after spending months and countless hours trying to help them. That's the nature of our business.
1 vote Thank Flag Link Wed Mar 20, 2013
Hello, The buyer's agreement is not mandatory document, however many agents are using this agreement as commitment of their services exclusively with the buyer.
Please check our Buyer Rabate program http://www.teammaxrealty.com/page26.html
contact us 561 512 0459
1 vote Thank Flag Link Wed Mar 20, 2013
In our West Palm Beach Market there are manytimes -Buyer
Disclosure forms that different Brokerages have buyers sign that
Sometimes are referred to as Buyer Agreements these are common.

Some Agents ( not Realtors) require compensation from buyers
to seek lower priced Homes. This would require a Binding Agreement
but rare.
If you are looking for something that will require research on
off market properties or Special Conditions not easily obtained,
Many Agents would ask for an agreement from the Buyer for
additional Compensation- needing an agreement/ a binding contract
Advantages few- Disadvantages too numerous to mention.
You should be able to find Good Services without "locking" yourself
in.
Bob Brubaker Highlight Realty Palm Beach County Fl.
Web Reference: http://www.pbc-realcam.com
0 votes Thank Flag Link Thu Mar 21, 2013
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