May 28, 2009
Remember Your Realtor
Do you remember the old song, “Love the One You’re With?” Those of us who consider real estate our passion, our career and our avocation, often shake our heads with disbelief when a buyer with whom we’ve been working, suddenly writes an offer with an agent with whom they have no existing prior relationship. Each time it happens, we shake our heads and wonder “why?”
Just last week, a buyer with whom I had worked for almost two years, purchased a $1.2 million dollar property…with another agent. The buyer had never met this agent before. He simply drove by a property, saw the “For Sale” sign and dialed the number. The agent showed him one house and wrote the offer. My guess is that in the excitement of the moment the buyer didn’t remember that my number was stored in his cell phone. The harsher reality is that he either didn’t consider me his agent and therefore felt no allegiance to me, or didn’t understand how real estate works. Many buyers don’t realize that real estate agents don’t get compensated until they sell a property. So, if you meet an agent you like and with whom you feel comfortable, make that person your real estate resource. In the end, you’ll avoid potential problems and develop a mutual loyalty that will benefit you in the long run. Some other suggestions?
- Keep your agent’s business card handy and if you should meet or speak to another Realtor® tell them, “Janis is my agent – I’m working with her.”
- If you see a property you just have to see, call your agent – not the agent on the sign. Remember: your agent has been working to find you the right property – give them the chance to work with you to purchase it.
- Ask your agent about signing a Buyer Agency Agreement.
- Love visiting open houses? Show your agent’s card to the agent host and tell them you are working with the agent. Remember: just because you do that doesn’t necessarily mean your relationship will be honored. Procuring cause could mean your agent wouldn’t receive a commission even if you wrote a successful offer.
Finally, remember all business relationships are built upon trust. If I invest time, energy, money and knowledge in searching for the perfect property for a buyer, I’m trusting that buyer to work with me in return. After all, real estate is my full-time career and I devote a great deal of time and money into building my business through marketing, education, advertising, and promotion.
Real estate is one area where, “if you can’t be with the one you love,” you shouldn’t necessarily follow the advice of the song’s lyrics and “love the one you’re with.”
Posted by:
Janis Hartley
Tagged With:
buyer agency agreement
and realtors
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