Why Hire a Broker? By Jim Palmer Jr.

Many real estate buyers seem reluctant to obligate their loyalty to any one real estate agent. One reason may be that they have the listing information available at their fingertips and don’t see the need to commit to one agent. That is fine until they want to view the listed properties or write an offer. They may get the mistaken impression that all brokers will jump and run to show any listed properties without any obligation on their part to connect with a Realtor®. When they decide to make a move on a property, they seem to place more emphasis on a broker’s availability instead of capability.

This impression may be caused by the fact that most listing brokers will show their properties to any buyer because they feel an obligation to their seller client. The new agency law allows listing brokers to show their listings to buyers without first signing a Buyer Representation Agreement because they are representing the seller and not the buyer. If they choose to represent a buyer, the listing broker must first sign a Buyer Representation Agreement with that buyer, so long as seller and buyer have agreed to allow dual agency.

If you are uncomfortable with dual agency, don’t be afraid to hire a buyer broker. Just because the listing broker has all the answers doesn’t mean that a buyer broker couldn’t get up to speed quickly and probably could be more aggressive in advocating your cause.

One of the main complaints levied against Realtors® in general is that they don’t respond to phone calls or internet requests as quickly as some think they ought to. One of the contributing factors to this shortcoming is that brokers have become gun shy, feeling abused by an ever-increasing-number of buyers who refuse to commit. It seems reasonable that if an agent had the assurance of a written agency agreement, their interest in that buyer might increase dramatically!

The recent changes to the Agency Law in WA State make it mandatory for a buyer broker to have a written representation agreement before they can cross the threshold of a property. Even so, many of those agreements are non-exclusive and brokers are routinely abandoned by fickle buyers.

Remember that loyalty begets loyalty! Carefully choose a professional and make it known to them that you will be loyal. Realtors often work hard with little assurance of reward, so give them that assurance and see what happens!