I know . . . you love to hate buyer broker agreements. But here’s a true story.
A client of mine spent two years showing a couple high end condominiums. They didn’t make even one offer in all that time. The condos were going very fast.
After two years, the buyer heard from a friend about a possible sale not yet on the market. Client calls the listing broker, tells the listing broker he is working with an agent but wants the listing agent to show the unit to him. He loves the unit. Even though the listing broker was perfectly willing to work with a buyer’s broker (and said so), the buyer decided to offer the listing broker an unsolicited incentive. He told the listing broker he was not going to use his buyer’s broker. The listing broker properly asked if the buyer had told the buyer’s broker that he was being cut out. The buyer lied and said yes.
The sale was substantially over a million dollars. The listing agent made a killing. My broker client didn’t. He didn’t have a buyer broker contract.
New rule: Tell your clients they can’t get in the car with you without a buyer broker agreement. 🙂