Signing a Buyer's Agreement at First Meeting

Asked by Teecee, Fountain, CO Thu Apr 26, 2012

I am buying a home in the Fountain area.

About 3 weeks ago, I went to an open house for a foreclosed home. The Realtor/agent (I don't know which she was) who showed the house was very polite--but things soon changed. She asked if I was working with a specific agent and when I replied, "No", she offered to give me the MLS printouts for some other homes in my price range--then she pushily asked me to sign a Buyer's Agreement in order to give them to me. I was shocked.

First off, I completely understand the purpose of a buyer's agreement--and I agree with them. I enjoy the protection it gives me as a buyer and know that it usually means the agent will go out of their way to take care of me. But signing a BA with someone I don't know, someone for whom I didn't even get a referral from someone I trust? I was actually offended that she'd ask after only talking to me for 5 minutes.

Agents/Realtors: do you ask buyer's to sign BA's within 10 minutes of meeting?

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Sally Grenier, Agent, Boulder, CO
Thu Apr 26, 2012
No, I usually don't bring it up until we've established a relationship, and have been out looking at properties a few times.
1 vote
Karen Melillo, Agent, Sedona, AZ
Wed Nov 13, 2013
No I never do. It is important to develop a relationship and find out if you are a good match in your Real Estate process!
0 votes
Teecee, Home Buyer, Fountain, CO
Wed May 2, 2012
Thanks to all for the informative answers.

For Kevin: I absolutely do believe results are important, but I also don't believe in doing business with someone I don't trust just so I'll get results. Now of course, I have no idea if the agent was truly a bad person--but first impressions are important and she blew it.

Buying a home is one of the most important, most expensive decisions an adult will make in their lifetime. I'm going to go out on a limb and say the average home buyer doesn't want to feel like their agent is running over them like a freight train while they just hang on for the ride. Make no mistake--buying a home will be done with my money, so the choice I make will have to be MY decision. I don't want an agent who is so gung ho that they try and pressure me or give me the "hard sell". You know how much I want to spend so just present the home, let me make a decision.

I have found an amazing agent. Upon our first meeting she was forward, to the point, informative, professional, and patient. I told her I am looking to close in the next 60 days but she told me verbatim that it doesn't matter if it takes me a year to find something I want, as long as I make the right decision for me. That is the kind of person I want working with me--not someone who comes off like Fast Eddie.
0 votes
Kevin Olson,…, Agent, Colorado Springs, CO
Mon Apr 30, 2012
And I guess Sally gets the thumbs up for breaking the rules set forth by the Real Estate Commission.

So glad we have these sites to let consumers know what to expect from us as Realtors.

Thank you Sally for making it harder for the rest of us to do our job the right way (legal way).
0 votes
Kevin and Jessica--can you please edify me about Sally's reply? What did she state that is against the rules? Thanks in advance for your reply.
Flag Wed May 2, 2012
Cory Fitzsim…, Agent, Golden, CO
Fri Apr 27, 2012
All agents have different protocol. Kudos to her for being agressive but I can see how it would shock you. At least you know she will be agressive for you in other areas. I don't bring up the agreement until I have a relationship but I also want to know I am not working for free. It also depends on the personalities of both sides Thanks for the question and good luck in your new purchase.
0 votes
Kevin Olson,…, Agent, Colorado Springs, CO
Fri Apr 27, 2012
Yes, we do and often. However we do allow people to cancel which normally takes off much of the pressure. Give us a chance and we'll prove to you how good we are. If we don't you can cancel.

There are a lot of different things that can get agents into trouble if agency isn't explained or established.

2600 agents in our MLS, over 700 didn't even sell a home last year. If an agent is coming off as pushy, you have every right to trust your gut and go with it.

Here's a real scenario for you. Let's say you have an agent that you like because they never push and don't ask questions. You're probably going to look at 50-60 homes and not find one. The reason for this is that you and your agent have to be direct with each other. Not mean, but direct.

We hear people say "I loved my agent, we just couldn't find a home, or I loved my agent, the house just didn't sell". Would you say "I loved my attorney, I just didn't win."? Getting the personal connection with the wrong type of agent can be a problem.
0 votes
Jaryd Takushi, Agent, Denver, CO
Thu Apr 26, 2012
I think 5 minutes is a little aggressive. I also think your instincts were right, if things were that pushy in the beginning how uncomfortable would the relationship be in the future. I personally ask for BA after I feel comfortable with the buyer and I want to work with them. Not all buyers are someone I want to work with.
0 votes
Erin Joynt, Agent, Westminster, CO
Thu Apr 26, 2012
I can't say that this is appalling because the Colorado real estate law and many managing brokers do want you to get a buyer's contract signed ASAP to establish a relationship. I personally don't feel comfortable having a buyer sign a contract with me until we have communicated a little bit and gotten to know one another.
0 votes
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