Is this usual? (sales, real estate, broker)

[MtnMist]

We plan to relocate to TN in less than two years, so from time to time I've ordered magazines from Homesandland.com to get an idea what's available and current pricing. To my surprise, after my most recent request, I received in the mail, from a real estate agent, a "Buyer Representation Agreement (Exclusive Right To Buy". It's completely filled in, signed and requests my signature. I've neither heard of this realtor nor contacted them. I know homesandland.com sends your "area request" info out to numerous realtors and agencies and they send you their brochures, listings, etc., but is it usual for a realtor to send something like this agreement unsolicited? I'm sure realtors don't want to waste their time and resources, but I thought this a little much.

And, no, I have no intention of signing or returning the form.

[nitneylion]

Originally Posted by MtnMist

We plan to relocate to TN in less than two years, so from time to time I've ordered magazines from Homesandland.com to get an idea what's available and current pricing. To my surprise, after my most recent request, I received in the mail, from a real estate agent, a "Buyer Representation Agreement (Exclusive Right To Buy". It's completely filled in, signed and requests my signature. I've neither heard of this realtor nor contacted them. I know homesandland.com sends your "area request" info out to numerous realtors and agencies and they send you their brochures, listings, etc., but is it usual for a realtor to send something like this agreement unsolicited? I'm sure realtors don't want to waste their time and resources, but I thought this a little much.

And, no, I have no intention of signing or returning the form.

I'd return it to him unsigned with the note that you would never use him as an agent. He might get the message.

What did the Buyer Representation Agreement (Exclusive Right To Buy) obligate you to do? I've never heard of such a thing.

[MtnMist]

Originally Posted by nitneylion

I'd return it to him unsigned with the note that you would never use him as an agent. He might get the message.

What did the Buyer Representation Agreement (Exclusive Right To Buy) obligate you to do? I've never heard of such a thing.

It's a woman and I'm guessing it's filled in based on the search criteria I input at the homesandland form. The written price range is 200k to 400k (rather broad) and says "sources to be searched for property: MLS and word of mouth". (I search the MLS for free all the time - I wouldn't pay an agent to search it.) Among other things, it states the "client agrees to authorize Broker to negotiate for a fee paid by the Seller and/or the Seller's agent, the payment of which will be fully disclosed to Client. However, if Broker is unable to negotiate a fee agreement with Seller or Seller's Agent, Client agrees to pay Broker a total of $_______ (not filled in) or 3% based upon the total sales price."

This may be a perfectly valid agreement and I know when we buy we need a buyer's agent, but I thought getting this in the mail from a stranger I never heard of and didn't approach for business was a little too much. Has anyone else experienced anything similar? Is this agent over the top aggressive or is this how it's done?

[nitneylion]

Originally Posted by MtnMist

It's a woman and I'm guessing it's filled in based on the search criteria I input at the homesandland form. The written price range is 200k to 400k (rather broad) and says "sources to be searched for property: MLS and word of mouth". (I search the MLS for free all the time - I wouldn't pay an agent to search it.) Among other things, it states the "client agrees to authorize Broker to negotiate for a fee paid by the Seller and/or the Seller's agent, the payment of which will be fully disclosed to Client. However, if Broker is unable to negotiate a fee agreement with Seller or Seller's Agent, Client agrees to pay Broker a total of $_______ (not filled in) or 3% based upon the total sales price."

This may be a perfectly valid agreement and I know when we buy we need a buyer's agent, but I thought getting this in the mail from a stranger I never heard of and didn't approach for business was a little too much. Has anyone else experienced anything similar? Is this agent over the top aggressive or is this how it's done?

Wow! Sounds like a no lose deal for the broker. If the seller refuses to pay, the buyer must. My opinion is that this is over the top.

[MtnMist]

What I also considered a red flag is that although the realty company name is listed by her signature, the company name and address is handwritten and this "agreement" was accompanied by a short letter on plain white computer paper. No letterhead, no company listed on the letter. Just her address and the date, my name and address and: "Dear (me): I am happy to assist you in your relocation to (town name). Enclosed please find a Buyer's Agreement form for your signature. Please return same to: (her name, address and signature).

Maybe I'm just too suspicious but the entire thing struck an alert.

[TN Tin Man]

Real Estate Commission Information

[jtnbound]

Sounds like a scam. I personally have found negotiating for myself and using a real estate attorney has saved me thousands.

[cherokeelake]

Sounds "over the top" to me. Kinda like showing up to start a new job that you've never had an interview for. Sounds like someone is just throwing stuff against the wall in hopes that one will stick. I assure you that is not the norm. I can understand after the agent has been contacted and asked to work on finding a certain kind of property for the potenial client, but not before.

[Bones]

I thing I would contact the real estate commission as Timman has posted the links....This is overly aggressive !

[jchometeam]

It is a legal form....and its required to be signed before an offer is made on a property at times in order for the agent to get paid by the selling agent. Its not a scam or illegal BUT I would NEVER sign this if youve never met the agent before. If you buy something not using them as your agent, they can come after you for money or their will; be a big fight among that agent and any other agent you want to use. and this is very much over the top and way too aggressive. Gives realtors a bad reputation. I assure you we all arent like this!