locking buyer into contact w/agent whnmkg purchse offr w/ seller.

[Matt Berklacy]

Come time in that final hour for a buyer to docusign to make an offer on a property, of the 10+ signature initials needed, often there is a few pages of buyer/agent agreements mixed in from the agent to docusign, in binding buyer; me to that agent’s agency for a period of time, and geographic radius to purchase from them or crediting them if I do purchase..….I go back and ask for contract agreement to be property specific, .…always uncomfortable, met with some resistance and angst…not standard procedure for them....

I know agent is paid by seller ahead of time, and of course I want to work with that agent to get credit on any property they look at, on-going, if offer not accepted, dont want anyone getting screwed or wasting their time, treated unfairly, etc,, but must a buyer sign a legal contract with an agent/agency to make an offer to go into contract with seller?

Is a contract mandatory between buyer and agent or vary from state to state?

Is verbally telling an agent ahead of time, that a buyer/agent agreement must be property specific, the best way to continue a friendly hunting relationship?

other options?, cuz locking in someone for a period of time and space radius to credit their agency a purchase, doesn't work...and is always slipped in at final hour to docusign offer...

[Charlie MacPherson]

@Matt Berklacy  I can only speak to MA procedures.  Here we have two documents that buyers are normally asked to sign.

First is the "Massachusetts Mandatory Licensee-Consumer Relationship Disclosure".  This is a document that we are required to give to the buyer or seller at the first face-to-face meeting to discuss a specific property.  The purpose is to ensure that the client knows who represents who.  

The client is not required to sign it, but agents are required to present it.  There is a check box for "client refused to sign".

The second, which is optional as far as the law is concerned, is a "buyer's broker" agreement.  

Mine (for retail buyers only) states that the buyer agrees that in exchange for my professional services, they will buy their home through me - though there is no obligation to buy a home and no payment due if they don't.

For investors, it says that if they buy a home I introduce them to, they will buy it through me.

It is simply amazing to see just how many people will happily burn up an agent's time and gas, kicking tires for weeks or months - only to announce as they're ready to write an offer that their Aunt Millie has her real estate license and they'll have her write the offer - and make the commission.

A smart agent won't allow that to happen any more than any other professional would.