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Obtain a
real estate agent license and you'll be the one managing your time. So how do you know if a buyer is really serious? Ask them to sign an exclusive buyer representation agreement.
Say you've been working with a client for nearly three weeks. You've spent over 70 hours on their behalf researching the MLS and you've chauffeured them through various neighborhoods looking for the "one." Then out of the blue, you find out another agent submitted an offer on the buyer's behalf for a home you showed them. You've lost time, potential leads and gas money.
Although unfair, a buyer has no obligation to use your services, regardless of how long you've worked with them, if you don't have a buyer representation agreement in place. So, how does an agent get a client to work with them without scaring them off with a contract?
First, when meeting a new buyer/potential client, interview them and gage how serious they are about buying. If you decide they're worth your time, set a limit on the amount of work you'll perform on their behalf. After you've proven your dedication to their home search, it's more than appropriate to present them with an exclusive buyer representation agreement.
If the buyer declines the agreement, and you've assisted them to the very best of your abilities, take it as a sign to move on to new prospects. Your time is precious and you want to beat housing market challenges. Hopelessly fickle buyers are red flags that productive real estate agents avoid.
By Danielle Macklin, Allied Schools,www.realestatelicense.comLabels: Real Estate Agent, Real Estate Agnet License
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