On the general topic of buyer representation, Jim Duncan at Real Central VA has a post up about being very choosy about which clients he will take on.
Interestingly, Jim provides a link to a specimen copy of a Virgina Asscoation of Realtors Buyer Broker Exclusive Employment Agreement.
I think this is a fine idea. We make copies of all of the commonly-used Arizona buyer contract forms available on our web site. Here is a link to a specimen copy of an Arizona Asscoation of Realtors Buyer Broker Exclusive Employment Agreement.
We are talking about how we might prepare this document differently, but for now we amend it as follows: The compensation listed on line 17 is “$10.00 or any mutually-agreeable sum.” The retainer fee on line 25 is “$0.00.” And at line 48 we add our standard firing clause: “This agreement will be terminated without recourse upon written notice by either party.”
My essay on empowering the buyer to negotiate the fees for their own representation is included in this week’s Carnival of Business at My 1st Million at 33. Frugal accuses me of being unfocused, to which my sole retort is a diffused glare, but adds this:
It really angers me that the sellers and the agents just don’t know who comes up with the loan or cash to pay their bills. Real estate is probably the only industry that doesn’t respect fully the person who pays.
I think that is beyond brilliant…
Technorati Tags: 9/11, blogging, disintermediation, real estate, real estate marketing
Jim Duncan says:
Regarding Frugal’s point – do people really not now who is the one bringing the money to the table? How sad. How much of the industry has been affected by the wacky market we have been in for the past half decade? Low rates combined with astronomical appreciation has led to a perception of almost free money …
September 11, 2006 — 7:58 pm
Greg Swann says:
> do people really not now who is the one bringing the money to the table?
I thik the point was that, in any other sort of transaction, the buyer gets the red carpet treatment. In real estate, as a residual effect of sub-agency, the seller is treated as the more important party.
September 11, 2006 — 10:04 pm