{"id":681,"date":"2006-11-25T10:07:03","date_gmt":"2006-11-25T17:07:03","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=681"},"modified":"2006-11-25T10:07:07","modified_gmt":"2006-11-25T17:07:07","slug":"be-careful-what-you-sign-with-broker","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/681\/be-careful-what-you-sign-with-broker\/","title":{"rendered":"Be careful what you sign with broker . . ."},"content":{"rendered":"

This is me from yesterday’s Arizona Republic<\/i><\/a> (permanent link<\/a>):<\/p>\n

 
Be careful what you sign with broker<\/b><\/p>\n

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 “married” your agent, are you ever really “divorced”?<\/p>\n

No such law.<\/p>\n

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

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>\n

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

Unless you sign another buyer-broker agreement.<\/p>\n

This kind of holdover language is common in real estate employment contracts. It’s there 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 hamstringing the buyer? How about 15 days?<\/p>\n

Or how about zero?<\/p>\n

My attitude is, if you’re done with me, I’m done with you. Whatever you do after we’re divorced 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 and inwardly digest the contracts they are asked to sign. Very probably, the form you are looking at is not filled out to your advantage.
\n<\/p>\n

Technorati Tags: arizona<\/a>, arizona real estate<\/a>, phoenix<\/a>, phoenix real estate<\/a>, real estate marketing<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

This is me from yesterday’s Arizona Republic (permanent link):  Be 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 “married” your agent, are you […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[6,5],"tags":[],"class_list":["post-681","post","type-post","status-publish","format-standard","hentry","category-marketing","category-real-estate","no-featured-image"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":509,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/509\/ask-the-broker-is-a-buyers-agent-like-a-bad-penny\/","url_meta":{"origin":681,"position":0},"title":"Ask the Broker: Is a Buyer’s Agent like a bad penny . . . ?","author":"Greg Swann","date":"October 4, 2006","format":false,"excerpt":"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,\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":913,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/913\/ask-the-broker-an-undisclosed-verbal-easement\/","url_meta":{"origin":681,"position":1},"title":"Ask the Broker: An undisclosed verbal easement?","author":"Greg Swann","date":"January 19, 2007","format":false,"excerpt":"This is one for The Hardy Boys: The Case of the Stolen Dirt.As a buyer what rights do I have in the following scenario? I purchased a tract of land in 08\/06. Closed on the deal 10\/06. Visited the tract in 12\/06 to find extensive excavation was performed for road\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":1045,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1045\/dual-agency-smack-down-buyers-and-sellers-informed-consent-to-limited-dual-representation\/","url_meta":{"origin":681,"position":2},"title":"Dual Agency Smack-Down: Buyer’s and Seller’s Informed Consent to Limited Dual Representation","author":"Greg Swann","date":"February 14, 2007","format":false,"excerpt":"I really don't like Dual Agency. I think that's pretty well established. Even so, Russell Shaw convinced me -- in person, not on BloodhoundBlog -- that BloodhoundRealty.com would have to offer Dual Agency if it is to list effectively in the historic districts of Downtown Phoenix. Right about the same\u2026","rel":"","context":"In "Dual Agency"","block_context":{"text":"Dual Agency","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dual-agency\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":772,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/772\/almost-famous-businessweek-on-excessive-buyers-agents-commissions\/","url_meta":{"origin":681,"position":3},"title":"Almost famous: BusinessWeek on excessive buyer’s agent’s commissions . . .","author":"Greg Swann","date":"December 15, 2006","format":false,"excerpt":"Eagle-eyed Kevin Boer of Three Oceans Real Estate was the first to catch it: BusinessWeek.com quoted me in an article on \"supersized commissions\":There's nothing wrong with incentives, even sizable ones, if they're disclosed and buyers fully understand what's motivating the agents who are showing them around. But in many states\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":874,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/874\/dual-agency-smack-down-arizona-association-of-realtors-general-counsel-michelle-lind-on-dual-agency\/","url_meta":{"origin":681,"position":4},"title":"Dual Agency Smack-Down: Arizona Association of Realtors General Counsel Michelle Lind on Dual Agency . . .","author":"Greg Swann","date":"January 8, 2007","format":false,"excerpt":"The Arizona Association of Realtors has just published Arizona Real Estate: A Professional\u2019s Guide to Law and Practice by Arizona Association of Realtors General Counsel Michelle Lind. I don't know what is planned for this book, but it is comprehensive enough to be used as one of the texts in\u2026","rel":"","context":"In "Dual Agency"","block_context":{"text":"Dual Agency","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dual-agency\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":649,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/649\/dual-agency-smack-down-a-category-11-hurricane-of-arguments-against-disclosed-dual-agency\/","url_meta":{"origin":681,"position":5},"title":"Dual Agency Smack-Down: A category 11 hurricane of arguments against Disclosed Dual Agency . . .","author":"Greg Swann","date":"November 17, 2006","format":false,"excerpt":"I'm going to stir up a category 11 hurricane by basing my initial entry in the Dual Agency Smack-Down on our past posts on the subject. Cathleen and I have dealt with this topic at great length in the past, so it seems reasonable to reinforce our arguments by revisiting\u2026","rel":"","context":"In "Dual Agency"","block_context":{"text":"Dual Agency","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dual-agency\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/681","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=681"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/681\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}