Buyer Representation Agreements (Inspired by ‘Twas the Night Before Christmas)

‘Twas  the week before Christmas, when all thro’ the town,

Buyers were stirring to buy property all around;

Properties were marketed by Realtors with care,

In hopes that buyers soon would be there;

Realtors were prepared with contracts in hand,

In hopes that their buyers would buy for their clan;

The Realtors were nestled all snug in their beds,

While visions of commissions danced in their heads,

When out of the blue there arose such a clatter,

The Realtors sprang from their beds to see what was the matter.

Away to the window they flew like a flash,

When in came another Realtor for their buyer, a new contract, all cash!

How many times has this happened to you?  You meet with a promising buyer multiple times then find out (after it’s too late) that the buyer has entered into a transaction without your involvement.  This holiday season please make sure you take the time to protect yourself from day one.  Your time and expertise are invaluable to prospective buyers.  In order to protect yourself (and ultimately your commission) we encourage you to consider entering into a Buyer Representation Agreement at the beginning of your relationship.  We understand that this is not always practical, but it’s certainly worth a discussion prior to investing your time with a prospective buyer. As always, if you have any questions concerning the foregoing, we urge you to consult with your real estate attorney.

Berlin-Patten, PLLC