Should you sign paperwork before your home search begins?

There is no required paperwork needed between buyer and realtor before the physical home search begins. But if you ask some Realtors who have been in real estate for a while you hear stories about how they wished they did have their buyers sign an buyers agency agreement. Just like the listing agreement, the buyers agreement spells out the responsibilites of both the Realtor and buyer. What could happen is that an agent will be working with a buyer who has emailed listings to customers, called other agents on behalf of the buyers to determine availability of properties and to schedule appointments, drive the buyers from one neighborhood to another possibly for months and then one day get a call from the buyer and they found a wonderful subdivision and the new home of their dreams and they just signed a contract with the buider. From the agent's perspective this is not good news as they have spent valuable time and money with this buyer with the expectations of payment for services upon the purchase of a home and I am sure most buyers don't even realize what has just happened. Not many agents like to work for free and I am sure no one else does either. Should you sign an exclusive agreement? Many buyers are uneasy about signing any agreements now a day but you can take steps to protect yourself should the arrangement not work your in best interest; ask for a short term agreement, ask for guarantees (make it a two way street), specify terms of purchase and price range and request a non exclusive agreement that protects the agent for procuring cause but does leaves you free to search for homes with other agents.

Contact Kari A. Battaglia, GRI, Realtor®, Broker Associate, Coldwell Banker Residential Real Estate, Licensed Realtor® in Florida at 941-270-1851 to list your property for sale or to purchase a property in Venice Florida, South Venice Florida, Englewood Florida, Nokomis Florida, Laurel Florida and for Tennessee real estate investments. I am currently accepting referrals.
Contact me by email at kari.battaglia@floridamoves.com. Need information fast, call me direct at 941-270-1851.
Copyright © 2008 By Kari A. Battaglia, mailto:kari.battaglia@floridamoves.com, All Rights Reserved, http://www.karibattaglia.com/.