I could use some help............I have appointments with two clients, one today and one tomorrow. To make a long story short, these are my first appointments with them but I have been talking to them (phone or email) for a couple months now and finally got them pinned down for showings. Now, I personally don't like the Exclusive Buyer Agency form here in NY, because I really don't believe in forcing my clients to do business with me. But, I believe I need to ask both of these folks to sign them. I'm not sure they understand the whole process and I don't want to spend a lot of time and then find out that they bought from someone else. So if you have a comment or any advice on how to ask them to sign it, I would love to hear from you.
Thanks, Lew
Serving Clifton Park NY and the entire Albany NY Capital Region
Lewis Beynon, REALTOR
Prime Property Solutions, LLC
(518)281-3951 LewisB@nycap.rr.com
Hi Lew
I like to say that Exclusive Buyer Agency agreements should be used, however I don't use them. The main reason as to why I don't use them is that majority of my clients are elderly. Once you connect with them, you gain their loyalty. In that sense, I am fortunate that they choose to stay and work with me.
You can tell your clients that the Exclusive Buyer Agency (non-compensation) if you got one in NY (like we do in CA), (a) is free, ie does not require them to pay any commission to you; (b) enable you to provide a firm commitment and dedication to customize the home search for them; (c) provide a regular update on shortlisted new listings that meet their criteria; (d) be available at their disposal to answer questions/schedule showings (they don't know how busy you are); and (e) help them throughout the buying process.
You could also say that's your company's policy, though this sounds lame to me. I would be honest to let them know too, that they must want to work with you, and they need to be committed to share their honest opinions and criteria, needs vs. wants, financiing arrangements with you, otherwise both parties are wasting each other's time.
Think about providing them with the option to opt-out anytime. Whenever I ask my clients to sign a commitment to work with me, I always allow them a chance to opt-out. If they are not happy with my services, I prefer that we part amicably. Often, you will find that they sign readily without asking any questions. Once they get to know you better, and know that you can deliver, they wouldn't exercise that opt-out option. I have yet to find a client who chooses to opt-out.
Hope this helps.