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There have been times when I did too much work without a contract, but then there have been other clients that have burned us even with a contract.
Sometimes you just cut your losses and move on to the next project.
That's why I use BBAs. It only takes one.
Nina Hollander, Broker
John Bear - I may have been burned by very few buyers.
I still feel having BBA would not have helped me much - except for legal stress.
Nina Hollander, Broker
I think we all have! When we first get in the business, we all tend to be pop-tart REALTORS®! "You call, I'll be there to open the door for you!" Then their agent that they didn't tell you about comes back from vacation and they write the Offer!! Yep, been there - done that!
Fred Griffin Florida R...
Use your gut feeling and judgement who you want to work with.
I can gauge people pretty well, I have not been burned... so far.
I could take a BBA to a procuring cause dispute at the Board Office.
Would I go to court? My attorney charges $3500 out of the box for a court case, then $325 per hour, so unless the commission is high and I have a clear case to win, I would not fight it.
I do not use the BBA at this time.
I always use a buyer agency agreement but I don't think I would enforce it.
I consider it part of doing business.... on a rare occasion, one will meet up with foul players.... cut them loose and on to the next.....
I agree with Bob Crane and Debe Maxwell . I've helped people who had one and never followed through on a purchase with me, and others who didn't have one who did. As Michael Jacobs said, stuff happens.
John Bear BBA's are mandatory in my State. Ask for a retainer fee with it and loyalty increases 10 fold.
I've never used a BBA. Yes, I have had a few burns ... but in the end, I'd rather my relationships be built on trust.
Only one time.
Buyer Agency Agreements are mandatory in CT, but not all agents get them signed (not an easy conversation sometimes) and enforceability is questionable, as you point out. Yet without it, no case.
My broker: Once in 30 years and it was so long ago no one remembers the details... but I believe it was before BBAs existed.
No... 90+% of the time I work with buyers without an upfront BBA and have them sign one when we make an offer. At the end of the day, even if you have a BBA if they really don't want to work with you they'll find a way out of the contract.
I like having a BBA available to discuss with my clients. I don't have them sign it often but ocasionally it works in my be half. It is important but worthless piece of paper.
I had a guy that was in trouble with a piece of property and doing nothing was his way of handling it. I suggested how either selling or keeping it could prevail & even supplied paperwork. He took it all in, signaled me that we have a deal pending, asked the right questions and then the line went dead. I see another Realtor involved and called this guy back and told him what I thought of him and his ways. Hissing is the sound he made
Usually it is the people you know who take advantage of you
Yes, though, I did have a BBA for the buyer. So, I guess this argument doesn't apply to me.
No - because we always use a BBA - period!
Stuff happens in our business. Debe Maxwell sums up my feelings on the subject.