Legal Hotline One-on-One Part 1: Annie and Pili Debate the Buyer's Agency Agreement

Washington REALTORS® Legal Hotline One-on-One series continues with a new segment! WR Legal Hotline Lawyer Annie Fitzsimmons and Pili Meyer, Real Estate Instructor and Olympic Peninsula broker with 30+ years of real estate experience, debate the Buyer's Agency Agreement and address some of the stigma around the form.
One-on-One
Debating the Buyer's Agency Agreement - Part 1
Annie Fitzsimmons & Pili Meyer

[@TheGirlinTheMask]

I have found that anyone who isn't willing to sign a Buyer Agency Agreement is someone I shouldn't work for. The first, awkward moment when I first decided to use this form, I remember blurting out that "I don't work for free.". I thought that I really offended the prospective buyers, but I think it actually made them respect me! I have used that form ever since. It is a GREAT tool to show buyers what you are worth and how you will work for them.

[@teamrebarealestate.]

I have been using buyer agency agreements for 16 years (since 2003) and use the one I got from my mentor who used to be my agent and had me sign one when I first used him in 1997! :)

[@HomesByStrand]

Great video! I will not work with a buyer, unless they sign the buyers agreement. If they don't want to sign it, they were not that serious to begin with! They are what I call "time suckers". I don't have time for them. I just move on. I am loving these videos!

[@anajackson5533]

I use the buyer agreement form always and recently happens that the only time a buyer refused to sign, even after I explained all the benefits for them, ( They kept it and every time I asked for it to sign made an excuse) was a buyer that complained and used the silliest excuses to not work with me but wanted to keep on with the transaction because already had negotiated a very good deal for them and they requested to be designated to another broker, to be at the end they got cold feet and just wasted my time( 16 houses) and my co-worker time too.

[@antondefense3325]

Anton Rehling Markel Properties. Correct me if I am wrong, Listing agent has seller as client and Buyer is customer. Buyer Broker has Buyer as Client and seller is customer. Broker has different responsibilities to both and owes a duty to primarily represent Client position. Brokers expertise and knowledge will always be advocate for Client first but still owes honesty etc to both as defined in RCW. with that explanation to buyer, buyer broker agreement makes total sense.

[@jessicaburgess1102]

I feel like this video could have been more effective with better examples supporting the use for buyer's agents, and how a buyer's agent can confidently present one. Having examples of what one would look like, with adding any verbiage on agreement, and what Pili would actually put on the additional addendum. Agents, such as myself, are hesitant at using them for a couple of reasons; first being that when trying to establish good rapport it feels off-putting when presenting a buyer with this agreement, and second we aren't all sure what we are allowed to say in that agreement as far as compensation so we don't end up working for free, or as Annie mentions, actually go into debt.

[@HomesByStrand]

Jessica Burgess- Annie stated in the video, that this is part one of a series, you need to stay tuned for the future video's as they will delve more into this subject.