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Old 05-22-2007, 06:19 PM
 
967 posts, read 4,550,989 times
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Hi there,

I'm wondering how other agents handle signing up new buyers. Do you ask them to sign a buyer's agent contract? How do people respond to this?

Thanks!
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Old 05-22-2007, 06:29 PM
 
Location: Just south of Denver since 1989
11,574 posts, read 31,858,316 times
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In order to hire any professional service for a fee to be paid later, a contract must be used and signed by the parties.

Real Estate services weren't contractual because the way agency has evolved. Since there was a listing contract spelling out compensation then the listing brokerage paid the selling brokerage. Since new agency relationships are available to a buyer (agency, single party brokerage, transaction...) a contract between buyer and brokerage developed.

A buyer's agency agreement (BAA) spells out who does what and how/when one gets paid.

Not having a BAA is like flying on a trapeze without a net.
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