A Necessary Change in Policy

avatarthumbnail.jpgAs I’ve written many times before, I’ve never been a fan of Buyer Broker Agreements – essentially an employment agreement between me and a prospective buyer. I’ve always believed a handshake ought to mean something … though yesterday it was made clear to me once again that not everyone feels this way.

(Helpful hint … if you’re talking about making a trip to the Valley to buy a home after I’ve worked with you for months, have previewed homes, etc. and you suddenly decide to buy through another agent, simply tell me. No need to lie and say you’re not going to make the trip, causing me to continue searching on your behalf and attempting to follow up. In other words, be an adult and be honest. It’s not an extreme request.)

So here’s where things stand … I’m going to have to start requiring Buyer Broker agreements as a normal course of business if you are seeking any value-added services – previewing and photographing homes for out-of-town buyers, for instance. Unlike many agents who write a specific commission into the agreement, I’m content with whatever the co-broke in the MLS will be and I will have a set percentage for non-MLS properties.

Truthfully, I wish such a step wasn’t necessary. A handshake should be guarantee enough that I’m not spending time, money, gas and cell phone minutes on someone who will select an agent based on a phone number on a sign later down the line. But it’s not. And that’s a very, very sad thing.

[tags]Phoenix real estate[/tags]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

5 Comments

  • jim little 9 years ago

    Good policy, I am now doing the same thing. It is too bad we have to resort to this, but it is necessary in today’s business environment.

  • Monday Links - 11 May 2009 | Real Central VA 9 years ago

    […] Jonathan hits on something about which I feel strongly – from a personal policy perspective and as a reflection on the human condition, if you will. He’s now working with Buyer Broker agreements with all clients. I’ve experienced this recently, and fell his pain. I’ve always believed a handshake ought to mean something … though yesterday it was made clear to me once again that not everyone feels this way. […]

  • Colorado Springs Real Estate by Kathy 9 years ago

    I’ve always had the philosophy that if I’m doing my job as a REALTOR correctly, I will get the buyer as a client and a piece of paper won’t make any difference; but I have occassionally gotten burnt by a client.

  • Jonathan Dalton 9 years ago

    I’ve always tended to think that way, Kathy, but it doesn’t seem to work that way. What I’m finding is it’s not uncommon to spend hours of time trying to find just the right home for someone … and then watch them write an offer with their friend’s buddy because they met over a beer when I wasn’t around.

    Or there was the client who told me they only wanted to be in one very specific area and we found a perfect home from them. They then without with another agent (without saying a word to me) and wrote an offer on a place on the other side of town. Let me know about an hour before we were to meet to write the offer on the house we had found.

    It becomes an issue of business cost – what is worth incurring and what can be avoided.

  • heather barr 9 years ago

    Jonathan, I’m with you on this policy change. Never used Buyer Broker Agrmts before either, but have found them necessary in the recent frenzy to find and purchase “a great deal”. The level of greed in th buyer community shocks me near-daily. And lately more and more of them seem to feel it’s perfectly OK that I spend hours assisting them but never earn a dime from it. Our colleague Jamie Geiger had a great idea recently: we should emulate doctors a little bit. “I only see clients by appointment” and make the idea of payment for services rendered a very clear conversation that’s covered at the first meeting. Hmmm…. Paging Dr Dalton, page Dr Dalton. That’s got a nice ring to it.

Comments are closed.

Real Time Web Analytics

Send this to a friend