Comments Off on If You Think Signing A Kansas City Buyer’s Agency Agreement Is A Mistake, You Just Haven’t Found The Right Agent

Checking The Pulse Of The Kansas City Real Estate Market

Some Kansas City home buyers get nervous when asked to sign a Buyer’s Agency agreement. It’s human nature and part of the problem is many Kansas City real estate agents don’t do a good enough job of explaining why a buyer’s agency agreement benefits BOTH the buyer and the agent. Some agents are afraid to explain that, yes, it does protect the agent and should the buyer purchase a home they are shown, the agent will get compensated. Many agents also fail to properly explain the benefits to the buyer… Without a buyer’s agency agreement, a buyer is not being represented, the buyer has no idea how the buyer’s agent will be compensated (usually from the seller) and a buyer is unlikely to get buyer’s agents full attention until a buyer’s agency agreement is signed. When such things are left vague, a buyer could easily conclude that all buyer’s agents are the same.

But all buyer’s agents are NOT the same and the best buyer’s agents will work hard to explain things and ensure a relationship gets off on the right foot. Buyers should ask any questions that concern them and buyer’s agents should be educated enough to answer those questions. Remember, the BEST Kansas City buyer’s agents WILL ask/expect you to sign a buyer’s agency agreement… at some point. Some new inexperienced agents won’t ever get around to asking a buyer to sign a buyer’s agency agreement. They’ll instead show countless homes day after day and then wonder what happened when the buyer goes and buys a home without them.  

The difference with my group is that I advocate slowly building the relationship between buyer and buyer’s agent. We’re good with taking a buyer out once on a one-day buyer’s agency agreement, so a buyer can get to know us and be sure we’re a good fit to work together going forward. A one-day agreement covers JUST the homes shown that day. A longer buyer’s agency agreement can then be signed IF there’s a second trip out with the buyer. My group has helped countless home buyers purchase a home with a relationship built exactly this way.

Should you choose to get out and see homes with an agent without a buyer’s agency agreement signed, just be aware that the agent is nothing more than a door opener. They are NOT representing your best interests and they can NOT advise you whether one home is better than the next, advise you on an appropriate offer price, etc…. Factors such as this are exactly why you want a buyer’s agent working for you. So find a great buyer’s agent and be sure both sides are committed to each other before jumping knee deep into the home search. 

Posted by Jason Brown

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