I`m sorry, but the main point is missing to some of us. Getting a client to sign a BAA before signing an offer is a “requirement” that all brokers have. I don`t work with buyers unless BAA is signed. RECO CODE OF ETHICS Section 14 “If a broker enters into a buyer`s representation agreement with a buyer and the contract is not written, before the buyer makes an offer, the real estate agent will cut the contract to the letter, have it signed on behalf of the broker and submit it to the buyer`s signature.” Honestly, Rita Giglione, Royal LePage broker www.ritagiglione.com If you feel under pressure to formalize it with your agent, remember – the right time to sign the buyer`s representation agreement, if you are confident of working with an agent. Mark, excellent article on this topic with some great points to consider, thank you. I agree with Brian Martindale in general when he comments on stories, this is the first time I have to contradict him completely. Why would he sign list agreements with his sellers in Brian`s thinking process? I have been using buyers` agency agreements since 1995 and I teach real estate agents courses on their use and how to involve them in their business model to increase the level of their professionalism. The key here is to increase the level of professionalism and bring even more value to the home buyer. It`s NOT about us, it`s always about the customer…. simple and simple and a buyer`s agency agreement defines the agreed terms of the relationship that can only be a benefit to both parties. When an agent uses them to simply “list” a buyer, he regrets the professional aspect of the use, when an agent uses the agreement to give a clear understanding of the responsibilities of each party that, in my opinion, raises the bar of our profession and how it can be so serious.
In my courses, I show how the buyer-client will benefit from hiring an agent and engaging with the agent, because the agent in turn commits to him. In fact, if an agent has used an agreement and failed to comply with it, they can be sued for breach of contract, so that any agent who intends to hire a buyer with one, sets himself up for problems.