Hi guys. I hope ya'll had a good Thanksgiving. This is a follow up to my last post "I hope I didn't "steal" Your Buyer. I was just doing my job".
Ok let me see if I can expand on BBAs just a little bit more. Clear your mind and really think about these things. The BA is not....
- A BBA is NOT just to guarantee that we get paid. In fact this is probably it's least important purpose.
- A BBA is NOT designed to replace taking the time to build a lasting relationship with your buyer.
- A BBA does NOT have to create a fiduciary relationship. In fact we can work under a BBA and still not be an agent for the buyer.
- Getting a BBA signed is NOT giving us a license to steal another agents buyer.
- You can choose to work under a BBA in ANY State. I can't imagine any State law prohibiting you from working under a contract.
- A BBA and an agency disclosure are NOT the same thing nor do they serve the same purpose.
In my opinion, the BBA should be required in all States. What it does is...
- The BBA eliminates confusion.
- The BBA lets buyers know that we are serious about our profession.
- The BBA lets buyers know that we take them serious too.
- The BBA outlines the entire transaction and make sures we and our buyers are on the same page.
- The BBA forces us to become better at what we do.
- The BBA spells out what the buyer can expect from us.
- The BBA spells out what we expect from the buyer.
I will never understand why so many Realtors(r) consider the BBA unnecessary. Yet none of you would ever consider working with a seller without an agreement. Why is that?
***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.
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