Yes, I require a buyer agency agreement before viewing the first property.

Yes, I require a buyer agency agreement before viewing the first property.

It is a beautiful snowy day here in Colorado Springs. We have had two back-to-back snow storms and have about 8 inches of snow on the ground. It is going to be a white Christmas.

A great day to be stuck in doors with the sun glistening on the snow, Canadian geese flying over head looking for their next dinner, presents wrapped and under the tree, dinner in the crockpot, and laundry in the washer. Oh, and that panic call from the buyer that wants to go look at houses!

Yep you heard me. I received a call from an out of town buyer that extended their stay by one day to look at more houses. Do you think they would have coordinated their trip with me? Well no, they are working with another agent that didn't show them what they wanted to see.

After talking with the buyer during two different conversations I deduced that they weren't happy with their other agent because she didn't show them the right properties and they were "cash buyers," but didn't have the cash, so the agent wanted them to talk with a lender. I have to admit, they had very unreasonable expectations for the Colorado Springs market. They wanted a foreclosure property that would be ready to close in 3 weeks, with upgraded kitchen and baths, move in ready, open floor plan, view of the mountains, and a mountain style home for about $50,000 below our average price in this part of town. I can understand why the agent wasn't showing them homes that met their criteria, they don't exist.

They found two properties that they wanted to see this afternoon, one was well over their price range by $80,000. I explained to them that I'm happy to do so, but they would need to sign a buyer agency agreement with me... SILENCE. I asked if they signed a buyer agency agreement with the other agent and they asked "why is this the first time we have heard about this?"

"Well, you just called me the first time a few minutes ago and I don't know anything about the other agent or why she would show you houses without the agency agreement. It is a required form by the State of Colorado and without it my Professional Real Estate Insurance is void. I won't risk my livelihood to show you homes without the agency agreement." Their response, "we need to talk."

So, I sit here drinking my fofo coffee with the fire going, my dog next to me, and Active Rain, and I wonder, why would anyone risk their license for a buyer?

I'm reminded of the story I heard years ago from a real estate attorney. I have not verified the story, but it could certainly be true.

As the story goes, an agent showed several properties to buyers without a buyer agency agreement. In the last home, the seller prepared the home for the showing and locked the large dog up in the kennel. When the teenage son came home for lunch, he let the dog loose in the house and returned to school. When the agent showed up at the house with the buyer, the dog appeared suddenly and bit the buyer requiring many stitches. The buyer sued the seller for having the vicious dog loose in the house. The seller sued the agent for allowing someone in the house without proper representation. Well the seller lost the lawsuit to the buyer and the agent lost to the seller. The agent's insurance was void because the agent was not properly representing the buyer.

So, Yes, I require a buyer agency agreement before viewing the first property.