Impromptu Office? Now, THAT’S Low Overhead I wasn’t trying to eavesdrop, but when you commandeer a table at Barnes & Noble for a group of people, spread out a bunch of contracts, and clearly “set up shop” in plain sight . . . you do tend to attract attention. In this case, a Realtor was explaining...Read More
“The Fire Drill,” or, Working With Buyers in a Hurry As opposed to the standard Buyer Rep contract, which imposes generic rights and duties on the Buyer and their agent, I think there should be a variant specifically for “Buyers in a Hurry.” Such a contract is an especially good idea when said Buyer is...Read More
Diagnosis: Lack of Buyer Motivation Key Symptom: Failure to Progress I certainly don’t do it often, but every couple years or so I find it necessary to “fire” a Buyer I’ve been working with. Or shall I say “non-Buyer.” While the specifics can and do vary, the root cause is invariably the same: lack of...Read More
Awkward Legal Construction One of the more confusing parts of the standard Minnesota Buyer Rep agreement — the contract governing the relationship between a home Buyer and their Realtor — is the two-part section discussing compensation. The first part states that the Buyer will pay the agent a to-be-specified retainer fee. That sure would be nice ....Read More
Leap of Faith, Risks for Both Parties No, it’s not “Buyer Rep Contract” week on this blog, and this isn’t going to turn into a serial installment. It’s just that the subject is so seldom discussed, and such a fertile topic. So here’s the last thought (to go with my earlier posts, “Real Estate Representation...Read More
The Perils of Overconfidence, Experience What do parachuting and Buyer Rep contracts have in common? I recall from my one time parachuting, almost 30 years ago (I knew the experience would prove to be useful in later life), that parachute fatalities actually fall into two groups. Unceremoniously referred to as “bouncing,” the first group —...Read More
