Related:

– Being Selective (with Buyers)

– Why Use a Buyer Broker Agreement

– How Much is the Buyer Broker Fee?

Found this video at Agent Genius that succinctly describes some of the benefits of a buyer agency agreement (in Canada):

Transcript:

Hey there, Jim Duncan with Nest Realty and realcentralva.com here in Charlottesville talking about buyer representation.

I ran into a customer several weeks ago with whom I had met several times. I had shown him around to different properties and such and we had reached a point in our relationship where, in my world, it was important to exercise a buyer/broker agreement. So I sent him a buyer/broker agreement and followed up and never heard back from him. This was a year ago. Then I ran into him at a meeting and he came up to me and said, “Why didn’t we ever work together?” And I said, “Well, I didn’t hear back from you about the buyer/broker agreement.” And he said, “Well I would never sign one of those.” And I said, “And that’s why we didn’t work together.”

And he went off and he got representation from somebody and never signed a buyer/broker agreement.

But in my world, if my clients are not willing to commit to me, how can they feel that I’m going to commit to them? I’m not a salesperson. I am a representative for my buyer’s best interest. I want people to know that what I do is serious and I take it seriously and I take what I do as a profession rather than as a salesman. I’m not going to sell you. I will represent your best interest.

Jim Duncan, Charlottesville, Virginia, (434) 242-7140.

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