Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
In TX, they should be signed at the 1st substantial meeting. Which means maybe the 1st or 2nd time I get with a buyer. Many agent are lazy and don't get it until they are writing an offer.
It's just like your profession and having a lawyer represent you, until you've signed an agreement it is questionable who represents which party. It changes an person from being a Customer to being a Client.
I would suspect it's the same in your business ???
Most importantly, when did the agent present the "Agency" informational disclosure to the client ? That's as important as a signed Buyers Agreement.
In Georgia they are to be presented at some reasonable time but it certainly has to be before the real estate agent can represent the buyer as a client as opposed to a customer. There is also another form if the buyer does not want agency representation. I present it at the first meeting and explain the benefits to the buyer. There have been some changes to the form this year that make it a bit more advantageous for both buyers and agents. Different agents will get it signed at various stages, some not until just before a purchase offer is written, some at the first meeting, and others anywhere in between.
Different agents handle the buyer brokerage agreement differently. Some don't have a buyer sign it until they are signing a purchase and sale agreement. Others won't take a buyer out once without a signed brokerage agreement (which is technically what they should do). Many buyers tend to freak out at the sight of a brokerage agreement so some agents just let it slide, which, of course, makes the agents who are doing things the way they are supposed to seem like villains.
In TX, they should be signed at the 1st substantial meeting. Which means maybe the 1st or 2nd time I get with a buyer. Many agent are lazy and don't get it until they are writing an offer.
It's just like your profession and having a lawyer represent you, until you've signed an agreement it is questionable who represents which party. It changes an person from being a Customer to being a Client.
I would suspect it's the same in your business ???
Most importantly, when did the agent present the "Agency" informational disclosure to the client ? That's as important as a signed Buyers Agreement.
SC is similar. We're supposed to present the agency policy guidelines at first substantial contact. I don't know if it's ever been determined when a buyer agency should be signed from a legal standpoint. At the worst at the time an offer is made but realistically the sooner the better IMO.
SC is similar. We're supposed to present the agency policy guidelines at first substantial contact. I don't know if it's ever been determined when a buyer agency should be signed from a legal standpoint. At the worst at the time an offer is made but realistically the sooner the better IMO.
I like to have it out of the way before we meet to write an offer.
The client can usually absorb only so much well at one time, and agency agreement and an Offer to Purchase can be a lot for one sit down, particularly with 1st time buyers.
I like to have it out of the way before we meet to write an offer.
The client can usually absorb only so much well at one time, and agency agreement and an Offer to Purchase can be a lot for one sit down, particularly with 1st time buyers.
I agree with you. Personally, my first meeting with a buyer is normally in my office. I have a buyer presentation that we'll go over. During the buyer presentation we go over the purchase process from A-Z including agency laws and disclosure. Then we'll get the agency and pre-qual knocked out. I give them a written service guarantee with the agency agreement that spells out what I'll do and that allows to cancel the buyer agency if they aren't satisfied with my service. I almost never have any issues with a buyer not agreeing to sign an agency between the presentation and written guarantee.
Then I print out a list of homes that fit the buyer criteria, they pick their top 5 and we go look at them. Simple and transparent process and often the buyer will make an offer on one of the first 5 we looked since we really narrowed it down up front.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
