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My agent wants me to sign an Exclusive Buyer Brokerage Agreement. I don’t want to sign it. The house we are about to close on we found by our self- because he was usually not available, or when he came with us, he always had to leave before we were done looking. So we spent four months driving around by ourselves and found a new home that we want to buy from the builder
We have told them ( the builder's sales agent) that he is our agent. He is family, and to prevent any animosity, we want him to get the commission. But we do not want to sign that agreement
Sharon, I would normally encourage someone to sign an agreement & commit to a good agent for good representation. By your previous posts, it doesn't sound like you are happy with the situation so I agree with the above...
Nope
But... if your not willing to sign it you ought to find an agent you like & would consider signing an agreement. In many cases the agent will not truly represent you if you don't make it official.
My agent wants me to sign an Exclusive Buyer Brokerage Agreement. I don’t want to sign it. The house we are about to close on we found by our self- because he was usually not available, or when he came with us, he always had to leave before we were done looking. So we spent four months driving around by ourselves and found a new home that we want to buy from the builder
We have told them ( the builder's sales agent) that he is our agent. He is family, and to prevent any animosity, we want him to get the commission. But we do not want to sign that agreement
Do we have to sign it ?
NO, NO,NO! You don't have to sign and for sur shouldn't sign if you don't feel like it. If you are happy with the agent and the agent was there every step of the way, than I would say you should sign.
Keep in mind listing agreements and buyer represenation agreements are with the broker not the agent.
Our company is large with 26 offices & 1600 agents. We have thousands of homes listed with our broker and without a Buyers Rep Agreement when I show you one of those homes, even though I'm not the listing agent technically I represent the seller when we are inside that house.
A signed Buyers Rep Agreement makes it where I always represent you.
If you are buying a new home from the builder, why is the world would you want, or need, an agent..?? Perhaps some states do things differently, but I never heard of using an agent to purchase a new home. Just some unnecessary fingers in your pocket.
Donn... I have years of construction experience that the normal buyer doesn't have. I know the right questions and how to build a great house.
You may not need this expertise but luckily most need someone to help guide them. Building a home can be a major event & there area a lot items when your through that makes yo say "Wish I had done or added this"
There is a big difference in builders, good, bad & ugly. Some of the worst builders build the nicest models.
One hint on how bad a builder is ... The longer their contract, the worse they are. Good builders will normally have a fairly short contract.
If you are buying a new home from the builder, why is the world would you want, or need, an agent..?? Perhaps some states do things differently, but I never heard of using an agent to purchase a new home. Just some unnecessary fingers in your pocket.
Without an agent there is a strong possibility that you could get taken for a ride by some unscrupulous builders. The builders have representation and so should you, if for nothing else than a guiding hand during the paperwork review and purchase process.
I told him no way no how. Not signing it. He insisted that is was required under State law. Encouraged by your posts, I responded that it was not and he should show me where it says so in the law. I told him my lawyer said it was not required. He and his broker finally backed off.
Whether you sign with this particular agent or not, having someone officially represent you when purchasing from a builder is a good idea. Why? Because the builder has someone representing you - the salesperson for the builder represents the builder's interests, not yours. Unless you are experienced in all the aspects of negotiation and real estate law leading to closing, you really do need someone on your side.
As for "more fingers in your pocket", the builder, just as the seller, pays the buyer's agent. So, if any commission is saved by the builder or seller not paying a commission to the buyer's agent, and there's no one representing the buyer's interests, just whose pocket do you think it's REALLY going to go into?
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