The first question to ask any buyer: “Are you working with an agent already?” If they already have an agent, then wish them well and send them to their agent. If they do not have an agent, the you can take the opportunity to consult with them.
Agents must get a buyer’s representation agreement signed prior to showing a buyer property. Here’s the preferred way to present that document for signature:
Is this your first time buying a home?
- If answer is “Yes,” then say, “Let me take a minute to explain real estate agency and what it means to you.”
- If the answer is “No,” then say, “You probably already understand this but please let me explain.”
In real estate sales there are two types of agents. Agents who represent buyers and agents who represent sellers. Agents who represent sellers/owners are there to make sure that their client sells as quickly as possible at the highest price possible. Buyers agents, on the other hand, are there to make sure that buyers like you find the best possible home within the budget you have established. My role will be to use my knowledge of the local market and real estate to find you best possible home at the best possible price in the community that makes the most sense for you. I’m happy to give you advice and chat with you until you feel comfortable with me, but before I can show you any properties, my broker requires that I have you sign a buyer’s representation agreement. The purpose of this document is twofold:
- It proves to my broker that I had this discussion about agency disclosure. My broker requires this disclosure because the Commonwealth of Virginia requires this disclosure.
- Today, we’ll be entering people’s homes, looking in their bedrooms, closets and bathrooms. You can imagine the sacred trust those owners have placed in us. This document ensures that I’m not opening doors for absolute strangers. In event that something happens we’ll know who we’re dealing with. That said, I’m quite sure they will be no issues. I’m quite sure you’re a good person.