|by GRI Instructor Michael Soon Lee, MBA, CSP, CRS, GRI |
Author: "111 Ways to Justify Your Commission" and "Black Belt Negotiating"
In any market, but especially a slow one, you want to make sure that every buyer signs a Buyer-Broker Agreement which is essentially a listing agreement with the buyer. If they buy anything in the geographic area you specify during the listed period they owe you a commission. The beauty of consistently using this kind of agreement is that If they won't sign it you know they don't plan to be loyal to you.
When would you want to find this out - at the beginning of your relationship or after you've worked with them for six months? So why do few agents in California use the Buyer-Broker Agreement? Stay tuned for my next blog posting to find out.