Buyer's Representation Agreements

[RESteve]

I'm leaning more towards working to get a buyer's representation agreement (BRA) signed for all leads now. More importantly, I want to focus more on getting them from out-of-town leads prior to them coming to the city to look at homes.

For those of you using BRAs, do you require them before they come to the city or do you make them sign it prior to touring once they've arrived? What is your strategy?

I'm looking for something that works well with out-of-town leads especially.

[Benjamin Dona]

We require them from every client we take out to see properties. Since most are from out of town, we found we had no choice but to try and protect ourselves. Too many folks with friends or family in the business.

Basically we tell them about how it works before they arrive and then have them sign it before we see the first property.

The only thing we do a little differently is we make the agreement only for the properties we introduce them to. That seems to make things a little easier for the one's that are hesitant about signing.

So far, it has worked very well. Only about 1 out of 10 balk at signing and we have yet to lose a client once they do (been doing this for a little over a year).

[FairwayandIsle]

Steve, I think that you have to take it on a case by case basis, some will be okay with signing before they visit others will be a little leary.