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If this is your experience and your belief then you are fine in not signing any kind of buyer agency agreement, but just know that you haven't met a really good buyer agent during your experience house hunting though.
You can think it is arrogance, but buyers take a lot of time. You don't think so, but they really do. As such, most agents, that actually want to make money, have to pick and choose their buyers carefully. One of the ways to screen out less serious buyers is buyer agency agreements. I know I can only work with 4-6 actively looking buyers at any one time. I can't take on more than that otherwise I can't give them good service. As such, I want buyers that are committed to working with me so I know that one of my "buyer spots" is with someone that I will close a transaction with me at some point in the future.
You have a choice. You don't have to sign anything and you will find an agent to open a door, fill out paperwork and get you to closing. That might be the right choice for you. Other consumers might want to work with an agent that actually advises them. These agents are fewer and farther between in the real estate pool. Most of them will require some kind of buyer agency agreement.
You can always negotiate the terms of the buyer agency agreement. Mine allow either party to cancel at any time. I have many clients that are attorneys and they have zero trouble signing it. Just because you are asked to sign an agreement it doesn't mean anything horrible. If you find an agent you like and you don't like the terms of their agreement then negotiate it.
The best part of working with attorneys: They can't very well take you to court and say they didn't understand the contracts they were signing....
We tease attorneys, but I have worked with several, and thought they were some of the finest people you could ask to associate with.
The best part of working with attorneys: They can't very well take you to court and say they didn't understand the contracts they were signing....
We tease attorneys, but I have worked with several, and thought they were some of the finest people you could ask to associate with.
I tell all of them before they read it that there isn't any negotiating with me or crossing out anything in my contract. It's a take it or leave it. My contract is really fair. They know it, and sign it.
They have been great to work with because they understand the importance of understanding what they are signing.
I have flat out stopped working with agents who's first question is, "can I be your only agent?", or "who else are you working with?". No, you can not be my only agent. I don't know you from Jack, but you want the loyalty of an old friend. WTF?
zz4guy, we are required to ask, "Are you working with another agent?" Because if you have hired another agent, we are not supposed to work with you. We could get in big trouble for that one. So, what you're saying is that you will only hire agents who do not abide by their own rules.
That gets you a good agent who will make sure that everything in your house buying transaction is done properly exactly how?
I have flat out stopped working with agents who's first question is, "can I be your only agent?", or "who else are you working with?". No, you can not be my only agent. I don't know you from Jack, but you want the loyalty of an old friend. WTF?
You are a smart shopper. That is what you are doing, you are shopping; keep shopping.
By the way, as you already know, I am sure of it: you are not bound by any law that states you must use a Realtor (A.K.A. Sales Person)
When Realtors say they are looking out for your best interests, they are looking out for the commission when you sign the agreement. If they can't convince you to buy what they are selling, then they cannot earn a commission.
Free advice: do your own shopping (it is not that difficult), and hire an Independent Appraiser for consulting purposes. As long as you have that Independent Appraiser, you will be protected. The best consumer is a knowledgeable buyer. Note - an Independent Appraiser is not an advocate; he/she does not tell people what they want to hear (he/she does not sell) --he/she gives a shopper knowledge in which a buyer can use to compete (flat out, out compete, the competition)
You are a smart shopper. That is what you are doing, you are shopping; Keep shopping. You are not bound by any law that states you must use a Realtor (A.K.A. Sales Person)
When Realtors say they are looking out for your best interests, they are looking out for the commission when you sign the agreement. If they can't convince you to buy what they are selling, then they cannot earn a commission.
Free advice: do your own shopping (it is not that difficult), and hire an Independent Appraiser for consulting purposes. As long as you have that Independent Appraiser, you will be protected. The best consumer is a knowledgeable buyer. Note - an Independent Appraiser is not an advocate; they do not tell people what they wan to hear, they do not sell -- they give you knowledge in which you can use to compete (flat out, out compete, the competition)
Good luck!
You have got to be kidding me...Really?
Sorry, but some appraisers STINK just like some real estate agents stink. All professions have bad, average and exceptional people in them. Yours included. So how is a consumer supposed to know which appraiser is an exceptional appraiser vs. a poor one?
Sorry, but some appraisers STINK just like some real estate agents stink. All professions have bad, average and exceptional people in them. Yours included. So how is a consumer supposed to know which appraiser is an exceptional appraiser vs. a poor one?
Some Appraisers stink in the mind of a Broker, because they do not bend over and let the ilk of sales people spank its tush! Unfortunately, the bad apples (appraisers) are the ones that are blackmailed by the lending industry and Realtors. The bad ones get certified through large amounts of work from the lending industry and Realtors (the buddy system -- scratch my back, I'll scratch yours -- or black mail/blacklisting will come into play); first they become unethical and then they are left with incompetence in the latter.
An Independent Appraiser doesn't kiss any one's arse. They do their job! They didn't become certified through the buddy system, as well as being trained by skippy. Give the general public time to sort it all out; they will eventually become educated and spot the real ones who were never subjected to an artificial certification and poor training.
Edited: there is a difference between an Appraiser and an Independent Appraiser.
An independent appraiser can be competent or incompetent, experienced or inexperienced, honest or not, just like every other field of human endeavor on the planet. Has nothing to do with kissing of anyone's derriere.
If you are really saying that j random independent appraiser is more likely to do a good job than j random real estate agent, then you are misleading the OP in a serious way. Or you don't have a lot of experience. Or you're badmouthing another impression just to drive up business for your own, which doesn't serve the public, either.
As for this statement:
Give the general public time to sort it all out; they will eventually become educated and spot the real ones who were never subjected to an artificial certification and poor training.
The same applies to real estate agents. Or plumbers. Or auto mechanics. It's nothing special, and it doesn't make your point for you that appraisers are the way to go. Quite the contrary, in fact.
An independent appraiser can be competent or incompetent, experienced or inexperienced, honest or not, just like every other field of human endeavor on the planet. Has nothing to do with kissing of anyone's derriere.
You are incorrect. There is a difference between an Independent Appraiser and an Appraiser. An Independent Appraiser must be competent, experienced, and honest. An Independent Appraiser is more, as well.
If you are really saying that j random independent appraiser is more likely to do a good job than j random real estate agent, then you are misleading the OP in a serious way. Or you don't have a lot of experience. Or you're badmouthing another impression just to drive up business for your own, which doesn't serve the public, either.
I am saying that the original poster does not need a Realtor. If the original poster wants protection, I am offering free advice, in which I implied there other options. If you do not like the option I gave, I am sorry. The fact is, a buyer can do a better job than a Realtor if they really wanted to. And, if the consumer wants protection, they can hire an Independent Appraiser for consulting purposes and become more knowledgeable.
I do not buy and sell for buyers/sellers, and I never stated nor implied this. The buyer, or the original poster, has the right to shop own its own and get protection in the form of consulting from an Independent Appraiser. It is the original poster's decision. I am simply offering free advice within my legal capacity.
I do not have to drive up business on a forum, I have plenty of business from those wish for protection in my geographical area. That is my job: I provide protection to the general public within realm of my scope of work. It is in our preamble.
No, I am not misleading the original poster. I am sorry you feel that way.
Last edited by Greeenback; 02-03-2011 at 06:40 PM..
Reason: Grammar - nothing more.
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