{"id":509,"date":"2006-10-04T20:03:37","date_gmt":"2006-10-05T03:03:37","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=509"},"modified":"2006-10-05T18:06:49","modified_gmt":"2006-10-06T01:06:49","slug":"ask-the-broker-is-a-buyers-agent-like-a-bad-penny","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/509\/ask-the-broker-is-a-buyers-agent-like-a-bad-penny\/","title":{"rendered":"Ask the Broker: Is a Buyer’s Agent like a bad penny . . . ?"},"content":{"rendered":"

When is a Buyer Broker Agreement abrogated, anyway?<\/p>\n

Is there a law stating that once your contract with your realtor is up that you must include them on the deal of the purchase of a home that they showed you?<\/p><\/blockquote>\n

No such law.<\/p>\n

Feeling relieved? You can stop that right now.<\/p>\n

For, while there is no law binding you to your someday-to-be-former Buyer’s Agent, you may well have signed a contract that says that someday never comes. Or at least not soon.<\/p>\n

Consider this, from the Arizona Association of Realtors Buyer Broker Agreement:<\/p>\n

e. Buyer agrees to pay such compensation if Buyer, within ____ calendar days after the termination of this Agreement, enters into an agreement to purchase, exchange, option or lease any Property shown to or negotiated on behalf of the Buyer by Broker during the term of this Agreement, unless Buyer enters into a subsequent buyer-broker exclusive employment agreement with another broker.<\/p><\/blockquote>\n

The blank is filled in with a number, often 30, sometimes 90 — although it could be anything, so long as it is something. If the you and your agent mutually agreed to 1,001 days, it will be two-and-three-quarters years before you are divorced.<\/p>\n

Unless… You sign another Buyer Broker Agreement.<\/p>\n

This kind of hold-over language is common in real estate employment agreements. On the one hand, you can say, “Well, jeepers, why shouldn’t the poor goofball get paid, even if he didn’t get the job done by the deadline?” But on the other hand: “Exactly how much time do you need, you poor goofball?”<\/p>\n

The real reason for that kind of language is to frustrate betrayal. If you make a whispering deal with the Listing Agent to cut your Buyer’s Agent out of the deal, that language cuts him right back in.<\/p>\n

So how long is long enough to protect the Buyer’s Agent without unduly ham-stringing the Buyer? How about 15 days?<\/p>\n

Or how about zero? My attitude is, if you’re done with me, I’m done with you. Whatever you do after we’ve divorced each other is your business.<\/p>\n

But different agents will see this issue differently, and this is why buyers and sellers need to read, mark, learn Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

When is a Buyer Broker Agreement abrogated, anyway? Is there a law stating that once your contract with your realtor is up that you must include them on the deal of the purchase of a home that they showed you? No such law. Feeling relieved? You can stop that right now. For, while there is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,6,5],"tags":[],"class_list":{"0":"post-509","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-ask-the-broker","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":681,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/681\/be-careful-what-you-sign-with-broker\/","url_meta":{"origin":509,"position":0},"title":"Be careful what you sign with broker . . .","author":"Greg Swann","date":"November 25, 2006","format":false,"excerpt":"This is me from yesterday's Arizona Republic (permanent link): \u00a0Be careful what you sign with broker When you sign a buyer-broker agreement with a Realtor, is there some law that says you must thereafter include that Realtor in the purchase of any home he or she showed you? Once you've\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":296,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/296\/securing-the-home-buyers-place-at-the-table-how-two-simple-reforms-can-finally-result-in-a-full-uncompromised-form-of-buyer-representation\/","url_meta":{"origin":509,"position":1},"title":"Securing the home-buyer’s place at the table: How two simple reforms can finally result in a full, uncompromised form of buyer representation . . .","author":"Greg Swann","date":"September 6, 2006","format":false,"excerpt":"Executive summary: This is long, and it's written (I hope!) for ordinary people, not real estate professionals. But I want for real estate professionals to be aware of this argument, because I think it solves several of the knottier problems affecting our industry. Here's a quick summary of the essay:Buyers\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":555,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/555\/defining-the-divorced-commission-a-short-hand-term-for-understanding-alternative-real-estate-compensation-models\/","url_meta":{"origin":509,"position":2},"title":"Defining the Divorced Commission: A short-hand term for understanding alternative real estate compensation models . . .","author":"Greg Swann","date":"October 19, 2006","format":false,"excerpt":"I just spent a very informative hour on the phone with Jeff Brown, and I want to summarize what I took away from our conversation. First, Jeff has a very different understanding of the term \"co-broke\" compared to the way it is used in Arizona. When we went to essentially\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6137,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6137\/the-deathless-prose-of-the-bloodhounds-against-advice-of-broker\/","url_meta":{"origin":509,"position":3},"title":"The deathless prose of the Bloodhounds: Against advice of broker","author":"Greg Swann","date":"December 15, 2008","format":false,"excerpt":"This is a form I wrote for a house that Cathleen may or may not have in play. The details have been fictionalized, but the underlying situation -- a house trashed so badly that it becomes a menace to safety -- will probably only become more common. Caveat lector: I\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":336,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/336\/ask-the-broker-what-compensation-does-a-buyers-agent-have-to-disclose\/","url_meta":{"origin":509,"position":4},"title":"Ask the Broker: What compensation does a buyer’s agent have to disclose . . . ?","author":"Greg Swann","date":"September 14, 2006","format":false,"excerpt":"This is an excellent question:Do buyer's agents have to disclose ALL compensation he receives from all sources to his client? It would be important to know who's filling his lunch sack. Example: Builder pays a bonus above the commission listed in the MLS to the buyer's agent if his client\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2179,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2179\/a-consumers-guide-to-the-divorced-real-estate-commission-why-buyers-and-sellers-each-paying-for-their-own-representation-is-the-most-significant-reform-that-can-be-made-today-in-residential-real-estat\/","url_meta":{"origin":509,"position":5},"title":"A consumer’s guide to the divorced real estate commission: Why buyers and sellers each paying for their own representation is the most significant reform that can be made today in residential real estate","author":"Greg Swann","date":"November 7, 2007","format":false,"excerpt":"Part I: How we got into this mess in the first place Can we be straight with each other? I'm not a soft and subtle kind of guy, and my working assumption is that you are sick to death of being hustled -- handled -- lied to. We yammer all\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=509"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/509\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}