INQUIRED about several properties ended up dealing with lot of agents
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So at the end of the day, if there is nothing signed your relationship (legal agency) with the buyer is neutral. As long as the buyers realize this I think that is ok. However, if you tell them that you are acting on their behalf but there is no legal agency, things can get a little dicey (for your buyers). For you this could be an out.
Seem like there is no downside for your buyers to sign a BA (single agent) with you, since is it is not exclusive. It would formally obligate you to look out for their best interests (not that you dont already).
Do you do other parts of the RE transaction verbally and/or with a handshake?
First of all, if I tell a client I'm doing something, I do it. Period. Things don't get "dicey" if I perform as promised and I won't need an "out". It may surprise you and others that there are honorable people in this often slimy business but there are. I handle many parts of my business dealings verbally and without formal agreements. I just make sure my buttocks are covered according to the law and keep my word. It's gratifying to trust someone and have that trust confirmed. As I mentioned before, the snakes are usually brightly colored and loud so it's easy to identify most of them before any damage is done.
My point was that, in FL if you sign a BA (single agent) agreement, the agent will theoretically look out for your best interest. Buyers are sometimes hesitant to sign BA agreements due to exclusivity, however in FL this doesn't seem to be an issue.
Are you implying the BAs in FL put forth a suboptimal "effort" due to lack of exclusivity?
Most realtor transactions in the state of FL are as transactional, meaning they can represent the buyer, the seller or both parties without a conflict of interest. I see no reason (based on my state rules) that anyone has to find an exclusive Buyer's agent but a buyer can specifically request that type of relationship with their Realtor.
Here in NY I have a buyer's agent and would also look up listings on my own on sites like the ones mentioned (never gave any information, just used their search functions). Whenever I found a property I thought would fit, I'd send it to my agent to look into it and set up a showing so I never dealt with anyone but him.
I signed an exclusivity form but he only presented it to me when I went to put in my first offer through him, not within all the time he was helping me search and taking me to showings. He was just helping me on his word and didn't try any less hard then or any harder once he became exclusive.
There was one agent I was referred to (since he was there) when I walked into one agency when I first started the homebuying process who shoved an exclusivity form in my face and asked me to sign it literally before even introducing himself or asking me anything about myself. That was an instant turn-off. He wouldn't even answer any questions without me signing it so I promptly went elsewhere. I guess it depends on the agent and location then.
My point was that, in FL if you sign a BA (single agent) agreement, the agent will theoretically look out for your best interest. Buyers are sometimes hesitant to sign BA agreements due to exclusivity, however in FL this doesn't seem to be an issue.
Are you implying the BAs in FL put forth a suboptimal "effort" due to lack of exclusivity?
I am implying that most agents treat loyal clients differently than they treat customers using several agents. Next time I'm try to spell it out more simply for you. How's that offer coming along for you from the other thread?
Either look yourself like you do, or pay an extra 3% for an agent doing the same for you.
Depends on your income level, which option makes more financial sense to you.
Generally speaking, the seller pays the realtor, not the buyer.
Last edited by KathrynAragon; 08-25-2012 at 08:44 PM..
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Quote:
Originally Posted by KathrynAragon
The seller pays the realtor, not the buyer.
LOL
Yeah. We are allowed to say that.
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