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	<title>Comments on: Exclusive Buyer Agency Contracts. Don&#8217;t Sign Them&#8230; Yet.</title>
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		<title>By: Ann</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-2#comment-4753</link>
		<dc:creator>Ann</dc:creator>
		<pubDate>Sun, 28 Aug 2011 19:46:47 +0000</pubDate>
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		<description>Hello. I live in California and I signed exclusive Buyer’s contract agreement with a broke because I need for my 1031 exchange purchase an income property. I did this for 2 months. But I have changed my mind and do not want to work with this person or at least under an exclusive agreement right now with him.  Now I have brought a income property to another agent. I am not happy with his performance; I have to pay him 3 % of the purchase price. Hope you can advise me.  I have RE license but never active.</description>
		<content:encoded><![CDATA[<p>Hello. I live in California and I signed exclusive Buyer’s contract agreement with a broke because I need for my 1031 exchange purchase an income property. I did this for 2 months. But I have changed my mind and do not want to work with this person or at least under an exclusive agreement right now with him.  Now I have brought a income property to another agent. I am not happy with his performance; I have to pay him 3 % of the purchase price. Hope you can advise me.  I have RE license but never active.</p>
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		<title>By: Paul</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-2#comment-4710</link>
		<dc:creator>Paul</dc:creator>
		<pubDate>Thu, 07 Jul 2011 08:57:36 +0000</pubDate>
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		<description>Hello.  I live in California and I just signed about three pages of a Buyer’s Agent contract because I want to purchase an income property.  I did this less than 24 hours ago.  But I have changed my mind and do not want to work with this person, or at least under an exclusive agreement right now with him.  How can I get out of the contract?  I did not walk away with any copies (he said he will PDF email me my copies); we transacted in a Starbucks where he wanted me to meet him and no where on his card is there an address.  Also, he had me sign an agreement that if I purchase a property through another agent because I am not happy with his performance, I have to pay him 2 ½ % of the purchase price.  Hope you can advise me.</description>
		<content:encoded><![CDATA[<p>Hello.  I live in California and I just signed about three pages of a Buyer’s Agent contract because I want to purchase an income property.  I did this less than 24 hours ago.  But I have changed my mind and do not want to work with this person, or at least under an exclusive agreement right now with him.  How can I get out of the contract?  I did not walk away with any copies (he said he will PDF email me my copies); we transacted in a Starbucks where he wanted me to meet him and no where on his card is there an address.  Also, he had me sign an agreement that if I purchase a property through another agent because I am not happy with his performance, I have to pay him 2 ½ % of the purchase price.  Hope you can advise me.</p>
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		<title>By: Realtor Commissions. The Great Hush Hush Exposed. &#124; FranklyRealty.com Trust Me I'm A REALTOR</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-2#comment-4637</link>
		<dc:creator>Realtor Commissions. The Great Hush Hush Exposed. &#124; FranklyRealty.com Trust Me I'm A REALTOR</dc:creator>
		<pubDate>Mon, 21 Feb 2011 14:41:42 +0000</pubDate>
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		<description>[...] commission is NOT the reason your agent is discouraging Short Sales. See also the benefits of an exclusive buyer agency agreement, see blog [...]</description>
		<content:encoded><![CDATA[<p>[...] commission is NOT the reason your agent is discouraging Short Sales. See also the benefits of an exclusive buyer agency agreement, see blog [...]</p>
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		<title>By: les</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-2#comment-4570</link>
		<dc:creator>les</dc:creator>
		<pubDate>Sun, 11 Jul 2010 21:32:09 +0000</pubDate>
		<guid isPermaLink="false">http://franktempblog.wordpress.com/2007/02/13/exclusive-buyer-agency-contracts-dont-sign-them-yet/#comment-4570</guid>
		<description>I have purchased a few homes and sold a couple. I hope to continue to do so. I search the internet relentlessly to find what I want(LOVE THIS SITE). I have phoned listing agents about their listing and asked questions of them not necessarily expecting to write an offer with them. I just like getting answers quickly/directly. I have never felt I was unethical or even unfair for doing so. I figure that&#039;s what they are paid to do by the seller as a listing agent- make the listing as attractive as possible to any prospective buyer. It seems to me that you prepped the house, painted the door, and had open houses because that&#039;s what listing agents do for their client. Please let me know if this practice is viewed as unfair in most agent circles.</description>
		<content:encoded><![CDATA[<p>I have purchased a few homes and sold a couple. I hope to continue to do so. I search the internet relentlessly to find what I want(LOVE THIS SITE). I have phoned listing agents about their listing and asked questions of them not necessarily expecting to write an offer with them. I just like getting answers quickly/directly. I have never felt I was unethical or even unfair for doing so. I figure that&#8217;s what they are paid to do by the seller as a listing agent- make the listing as attractive as possible to any prospective buyer. It seems to me that you prepped the house, painted the door, and had open houses because that&#8217;s what listing agents do for their client. Please let me know if this practice is viewed as unfair in most agent circles.</p>
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		<title>By: Karen</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-1#comment-4397</link>
		<dc:creator>Karen</dc:creator>
		<pubDate>Mon, 08 Feb 2010 02:02:46 +0000</pubDate>
		<guid isPermaLink="false">http://franktempblog.wordpress.com/2007/02/13/exclusive-buyer-agency-contracts-dont-sign-them-yet/#comment-4397</guid>
		<description>RE: Procuring Cause Experience as the Listing Agent

A couple years ago I served as the listing agent on a property.  I was absolutely --slam dunk -- the &quot;procuring cause of the sale. The purchaser found the property through my advertising and told me so and said she was not working with an agent.  I helped her quite a bit, several emails about the property, etc. She &amp; her husband wanted to buy the house. 

Then I get a call from an agent at a big prestigious brokerage who tells me she wants to fax me her client&#039;s offer.  I mentioned I have another Purchaser interested who will be writing very soon. 

Receive the Contract and it&#039;s the same Buyer I&#039;d have been &quot;working with&quot; who&#039;d come to my Open House (through my advertising).   I asked the agent when she signed the BAA with this buyer.  She said: &quot;like everyone, the same day we wrote the contract.&quot;   I said: &quot;well, not like me.&quot;  I was really pissed.  This was a situation in which the buyer would be getting money back through a relocation company if she used this brokerage.  In reality, she had a crappy agent who did nothing for her until it was time to write the offer. 

Then the Agent&#039;s Broker sends me an email w/attached letter for me to sign stating that his agent was the &quot;procuring cause&quot; of the sale.  I said: &quot;no, of course i won&#039;t sign that.  it&#039;s not true.&quot;

I also told him that I&#039;m letting this go -- not signing some untrue doc -- but I won&#039;t challenge it re: &quot;procuring cause&quot;  Why?  Because my client was a senior citizen who&#039;d moved to assisted living. . .and she needed the sale. 

I&#039;d worked really hard on prepping this house for sale -- even painting the front door &amp; removing the storm door myself b/c the workmen didn&#039;t do it and the Open House was the next day.   I staged it, marketed it and held Open Houses every weekend for months. . .but I sacrificed the 3% sales side -- that I&#039;d earned -- b/c it was in the best interest of my client, the seller.  The other agent might have tried to get the buyer to buy something else. . .and I didn&#039;t want to risk it.   Made no difference to the seller.  Either way she was paying 6%.

Very complicated - our business.</description>
		<content:encoded><![CDATA[<p>RE: Procuring Cause Experience as the Listing Agent</p>
<p>A couple years ago I served as the listing agent on a property.  I was absolutely &#8211;slam dunk &#8212; the &#8220;procuring cause of the sale. The purchaser found the property through my advertising and told me so and said she was not working with an agent.  I helped her quite a bit, several emails about the property, etc. She &amp; her husband wanted to buy the house. </p>
<p>Then I get a call from an agent at a big prestigious brokerage who tells me she wants to fax me her client&#8217;s offer.  I mentioned I have another Purchaser interested who will be writing very soon. </p>
<p>Receive the Contract and it&#8217;s the same Buyer I&#8217;d have been &#8220;working with&#8221; who&#8217;d come to my Open House (through my advertising).   I asked the agent when she signed the BAA with this buyer.  She said: &#8220;like everyone, the same day we wrote the contract.&#8221;   I said: &#8220;well, not like me.&#8221;  I was really pissed.  This was a situation in which the buyer would be getting money back through a relocation company if she used this brokerage.  In reality, she had a crappy agent who did nothing for her until it was time to write the offer. </p>
<p>Then the Agent&#8217;s Broker sends me an email w/attached letter for me to sign stating that his agent was the &#8220;procuring cause&#8221; of the sale.  I said: &#8220;no, of course i won&#8217;t sign that.  it&#8217;s not true.&#8221;</p>
<p>I also told him that I&#8217;m letting this go &#8212; not signing some untrue doc &#8212; but I won&#8217;t challenge it re: &#8220;procuring cause&#8221;  Why?  Because my client was a senior citizen who&#8217;d moved to assisted living. . .and she needed the sale. </p>
<p>I&#8217;d worked really hard on prepping this house for sale &#8212; even painting the front door &amp; removing the storm door myself b/c the workmen didn&#8217;t do it and the Open House was the next day.   I staged it, marketed it and held Open Houses every weekend for months. . .but I sacrificed the 3% sales side &#8212; that I&#8217;d earned &#8212; b/c it was in the best interest of my client, the seller.  The other agent might have tried to get the buyer to buy something else. . .and I didn&#8217;t want to risk it.   Made no difference to the seller.  Either way she was paying 6%.</p>
<p>Very complicated &#8211; our business.</p>
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		<title>By: Karen</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-1#comment-4396</link>
		<dc:creator>Karen</dc:creator>
		<pubDate>Mon, 08 Feb 2010 01:43:14 +0000</pubDate>
		<guid isPermaLink="false">http://franktempblog.wordpress.com/2007/02/13/exclusive-buyer-agency-contracts-dont-sign-them-yet/#comment-4396</guid>
		<description>RE:  Procuring Cause of the Sale

(1) Okay, with no BAA (and just the Brokerage disclosure as sub-agent of seller), I as the Agent (sub or Buyer&#039;s) who showed the property to the purchaser am the &quot;procuring cause&quot; of the sale. So, I get paid regardless of whether the buyer runs out and hires (w/a BAA) some Brokerage/agent who kicks-back 50-75% of the Sales Agent end of the Listing Commission to the buyer.   BUT, that means an arbitration battle before the Board. On principle, it should be fought but most of us would prefer to forget it.  Plenty of battles over &quot;procuring cause&quot; exist. . .and should. 

(2) The downside for the Buyer is that without the BAA,  a Realtor simply cannot be honest about a property in any way that might harm the seller.  Without the BAA, the agent must keep in his/her mind that legally he/she cannot say or do anything that is not in the best interest of the seller.  This is real bad for the buyer. And, it&#039;s a really bad position for the agent to be in too.  Whoever I am working with -- buyer or seller -- is in my mind and heart my client.

(3) When showing property as, technically, the sub-agent of the Seller, I must restrain myself from answering any questions OR telling my buyer customers anything that I notice about the property IF it&#039;s not in the best interest of my client, the seller. 

I never work without a BAA even if it&#039;s just for 2 days.</description>
		<content:encoded><![CDATA[<p>RE:  Procuring Cause of the Sale</p>
<p>(1) Okay, with no BAA (and just the Brokerage disclosure as sub-agent of seller), I as the Agent (sub or Buyer&#8217;s) who showed the property to the purchaser am the &#8220;procuring cause&#8221; of the sale. So, I get paid regardless of whether the buyer runs out and hires (w/a BAA) some Brokerage/agent who kicks-back 50-75% of the Sales Agent end of the Listing Commission to the buyer.   BUT, that means an arbitration battle before the Board. On principle, it should be fought but most of us would prefer to forget it.  Plenty of battles over &#8220;procuring cause&#8221; exist. . .and should. </p>
<p>(2) The downside for the Buyer is that without the BAA,  a Realtor simply cannot be honest about a property in any way that might harm the seller.  Without the BAA, the agent must keep in his/her mind that legally he/she cannot say or do anything that is not in the best interest of the seller.  This is real bad for the buyer. And, it&#8217;s a really bad position for the agent to be in too.  Whoever I am working with &#8212; buyer or seller &#8212; is in my mind and heart my client.</p>
<p>(3) When showing property as, technically, the sub-agent of the Seller, I must restrain myself from answering any questions OR telling my buyer customers anything that I notice about the property IF it&#8217;s not in the best interest of my client, the seller. </p>
<p>I never work without a BAA even if it&#8217;s just for 2 days.</p>
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		<title>By: Karen</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-1#comment-4395</link>
		<dc:creator>Karen</dc:creator>
		<pubDate>Mon, 08 Feb 2010 01:22:52 +0000</pubDate>
		<guid isPermaLink="false">http://franktempblog.wordpress.com/2007/02/13/exclusive-buyer-agency-contracts-dont-sign-them-yet/#comment-4395</guid>
		<description>RE: Buyer Agency Agreements (BAA) -- (1) Great post; (2) My view is that technically/legally, for all homes I show a prospective purchaser, prior to having a signed BAA, I would automatically represent the seller per the MLS system.   Why?  The Listing Agent (LA)  advertises the Seller&#039;s home in the MLS (w/the seller&#039;s permission) to all SUB-agents of the seller and to Buyer&#039;s Agents representing buyer clients.  Without a signed Buyer Agency Agreement at or before entering the property, then the Agent who shows the property is automatically a SUB-agent of the seller and thus must do what is in the best interest of the seller, not the buyer, b/c the seller is technically/legally the client of the Agent (Sub-agent) even though he/she SEEMS to be representing the buyer b/c he/she is showing them property.   

I always ask buyers to sign the BAA 1st time I meet with them IF we are previewing property that day.  Often, I&#039;ve already been involved in an email exchange in which I&#039;ve provided Home Buying information, advice and sent them listings, etc.   I will, however, write the BAA so that it expires in 1 week or 1 month or even in 2 days. 

And, I take the time to explain the BAA and accompanying addenda.

Would like your thoughts on that?  Maybe I&#039;m wrong but &quot;sub-agency&quot; remains a choice in the MLS and the BAA.  Then when we write the Purchase Contract, we must again state in a legal document that we are the Buyer&#039;s Agent and it means for THAT property.</description>
		<content:encoded><![CDATA[<p>RE: Buyer Agency Agreements (BAA) &#8212; (1) Great post; (2) My view is that technically/legally, for all homes I show a prospective purchaser, prior to having a signed BAA, I would automatically represent the seller per the MLS system.   Why?  The Listing Agent (LA)  advertises the Seller&#8217;s home in the MLS (w/the seller&#8217;s permission) to all SUB-agents of the seller and to Buyer&#8217;s Agents representing buyer clients.  Without a signed Buyer Agency Agreement at or before entering the property, then the Agent who shows the property is automatically a SUB-agent of the seller and thus must do what is in the best interest of the seller, not the buyer, b/c the seller is technically/legally the client of the Agent (Sub-agent) even though he/she SEEMS to be representing the buyer b/c he/she is showing them property.   </p>
<p>I always ask buyers to sign the BAA 1st time I meet with them IF we are previewing property that day.  Often, I&#8217;ve already been involved in an email exchange in which I&#8217;ve provided Home Buying information, advice and sent them listings, etc.   I will, however, write the BAA so that it expires in 1 week or 1 month or even in 2 days. </p>
<p>And, I take the time to explain the BAA and accompanying addenda.</p>
<p>Would like your thoughts on that?  Maybe I&#8217;m wrong but &#8220;sub-agency&#8221; remains a choice in the MLS and the BAA.  Then when we write the Purchase Contract, we must again state in a legal document that we are the Buyer&#8217;s Agent and it means for THAT property.</p>
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		<title>By: Sherry</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-1#comment-4388</link>
		<dc:creator>Sherry</dc:creator>
		<pubDate>Fri, 05 Feb 2010 17:42:46 +0000</pubDate>
		<guid isPermaLink="false">http://franktempblog.wordpress.com/2007/02/13/exclusive-buyer-agency-contracts-dont-sign-them-yet/#comment-4388</guid>
		<description>Client signs exclusive buyer agency contrat with agent which contains a non refundable retainer fee of x dollars due and payable upon execution of agreement.  Retainer will be applied to any commssions paid to broker.  Agent shows client dozens of properties and then client falls into a black hole located somewhere on this earth never to be heard from again.  Client does not answer calls, emails, or text messages.  Mom won&#039;t even answer the land line.  I am correct in assuming the agent (broker) is entitled to the retainer fee?  Of course we all know what happens when we assume.....</description>
		<content:encoded><![CDATA[<p>Client signs exclusive buyer agency contrat with agent which contains a non refundable retainer fee of x dollars due and payable upon execution of agreement.  Retainer will be applied to any commssions paid to broker.  Agent shows client dozens of properties and then client falls into a black hole located somewhere on this earth never to be heard from again.  Client does not answer calls, emails, or text messages.  Mom won&#8217;t even answer the land line.  I am correct in assuming the agent (broker) is entitled to the retainer fee?  Of course we all know what happens when we assume&#8230;..</p>
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		<title>By: FranklyRealty.com</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-1#comment-4181</link>
		<dc:creator>FranklyRealty.com</dc:creator>
		<pubDate>Wed, 21 Oct 2009 10:26:44 +0000</pubDate>
		<guid isPermaLink="false">http://franktempblog.wordpress.com/2007/02/13/exclusive-buyer-agency-contracts-dont-sign-them-yet/#comment-4181</guid>
		<description>I am not a lawyer (yet), but it doesn&#039;t sound to me like you are out of the contract. You told her you are &quot;not buying now&quot; when in fact you should have said &quot;we are not buying now WITH YOU.&quot; So no, if she found out that you bought, she might be able to claim that she is entitled to the commission. Ask your new agent. Also get something in writing (even email) from the agent making it more clear that you are not under contract with her. Again, I&#039;m not a lawyer, so you can&#039;t say &quot;but Frank said...&quot;</description>
		<content:encoded><![CDATA[<p>I am not a lawyer (yet), but it doesn&#8217;t sound to me like you are out of the contract. You told her you are &#8220;not buying now&#8221; when in fact you should have said &#8220;we are not buying now WITH YOU.&#8221; So no, if she found out that you bought, she might be able to claim that she is entitled to the commission. Ask your new agent. Also get something in writing (even email) from the agent making it more clear that you are not under contract with her. Again, I&#8217;m not a lawyer, so you can&#8217;t say &#8220;but Frank said&#8230;&#8221;</p>
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		<title>By: rachel</title>
		<link>http://blog.franklyrealty.com/2007/02/exclusive-buyer-agency-contracts-dont.html/comment-page-1#comment-4179</link>
		<dc:creator>rachel</dc:creator>
		<pubDate>Wed, 21 Oct 2009 04:53:34 +0000</pubDate>
		<guid isPermaLink="false">http://franktempblog.wordpress.com/2007/02/13/exclusive-buyer-agency-contracts-dont-sign-them-yet/#comment-4179</guid>
		<description>i had been using a realtor that was SOO FULL OF ... poop... i&#039;ll say.. we found a house.. put an offer in.. signed the papers including a buyers agency paper.. the offer didnt work out ... this lady was rude, pushy, let alone talked HORRIBLE of my husband.. but of course that didnt happen until we put that offer in on the house..

now the house was dropped 20k and we want to put a new offer in on it.

i told sally *the rude realtor* that its just not working out and we are not buying now... she said back thats fine blah blah blah.. then some more ruid things about men and my husband

now we are working with a new one .. since i told sally that its not working out with us and she agreed.. does that mean we are out of the contract or no? and what do i have to do to make sure we are. i see how she talks to her husband but there is no reason to talk to others like that. she&#039;s supposed to be running a business here

any advice??</description>
		<content:encoded><![CDATA[<p>i had been using a realtor that was SOO FULL OF &#8230; poop&#8230; i&#8217;ll say.. we found a house.. put an offer in.. signed the papers including a buyers agency paper.. the offer didnt work out &#8230; this lady was rude, pushy, let alone talked HORRIBLE of my husband.. but of course that didnt happen until we put that offer in on the house..</p>
<p>now the house was dropped 20k and we want to put a new offer in on it.</p>
<p>i told sally *the rude realtor* that its just not working out and we are not buying now&#8230; she said back thats fine blah blah blah.. then some more ruid things about men and my husband</p>
<p>now we are working with a new one .. since i told sally that its not working out with us and she agreed.. does that mean we are out of the contract or no? and what do i have to do to make sure we are. i see how she talks to her husband but there is no reason to talk to others like that. she&#8217;s supposed to be running a business here</p>
<p>any advice??</p>
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