Hawaii Luxury Homes > Meet Richard B. Rocker > Why Sign My Buyer's Representation Agreement
Why Sign My Buyer's Representation Agreement
When I work with sellers I use listing agreements (like almost every other broker in the real estate industry). The agreement establish a contractual relationship between myself and the seller which spells out our mutual responsibilities and terms under which we will conduct business. In the past when brokers worked with buyers, they did so without a contractual relationship.
The zeitgeist of the industry is moving towards buyers representation agreements as the contractual relationship between buyers and their brokers as the listing agreement has traditionally established that relationship between brokers and sellers. If you follow this link it will take you the HAR standard form buyers representation agreement. This agreement forms the skeletal framework of the relationship. It can be modified by either party in a variety of ways, and it is totally negotiable. It is not intended in any way to entrap you but rather its sole intention is to establish the baseline of how we will work together.
A recent buyer of a multi-million dollar beachfront property put it this way:
"Ric Rocker is not a typical real estate agent. When I first contacted him to find out about propelties in Puako, he gave me some good information but then asked me to sign a buyer's agreement. I had never encountered this type of contract on the mainland and resisted signing it. But because Ric was so personable and amenable into tweaking the contract to allay my concerns, I finally signed the contract - I figured that in the worst case, I simply wouldn't but any property in Hawaii for the duration of the contract.
"I now understand why Ric wants this buyer's agreement - it's because he puts forth an effort that is unequalled in my experience. If you are at a significant distance from the property you are purchasing, your due diligence process will be conducted with assistance from someone local. Hawaii laws, especially concerning oceanfront property, are complicated. Ric surfaced every conceivable issue (and then some) that could be investigated, personally interviewed prior owners of the property, neighbors, and experts on Hawaii regulation, and helped arrange an extension with a nervous seller so that the due diligence could be completed."
I will always do my job, do the work and do right by you. But the more you are willing to commit to me, the more comfortable I am dedicating the intangible.
- Ric