Buyers’ Agency

What was created to protect the buyer has become a nightmare for agents.  If we show you property - we represent you.  We have no choice in the matter.  But just because we’ve done all that hard work, doesn’t mean we will get paid.  On the contrary, we are now at the mercy of the buyer.  We can spend countless hours showing property and gathering information for people who will turn around and give the money to someone else.

Last Sunday, the LA Times printed an article entitled “Agents want a little loyalty”.  I can certainly understand the sentiment.  Many agents refuse to work with buyers for that very reason.  Still, there are some of us who only work with buyers.  But the vast majority of agents who work with buyers are the new agents.  They don’t have any choice and can waste hours upon hours of their time with buyers that have no loyalty.

When people walk into one of my open houses and I ask if they have an agent, it’s because I don’t want to steal someone’s client.  This is my full-time business.  I didn’t just get in the business nor do I intend to leave tomorrow.  I work with the other agents in my MLS with a sense of cooperation.

In the Times article it refers to buyer loyalty contracts.  The California Association of Realtors has three different ones.  So far, I haven’t asked my clients to sign any of them.  I try to offer enough buyer services for both before and after the offer is written so that my buyers feel they are best served by writing their offers through me.

That’s another part of the argument.  Buyer’s agency should consist of more than just showing property.  It is research to find the right property at the right price.  So far I haven’t needed to request loyalty up front; I’ve been allowed to earn it.