During the first face to face meeting between the Buyer & Real Estate Agent, the Buyer Agency Agreement is the 1st hurdle to overcome. You were looking online at a 3rd party website like Zillow, Redfin or Trulia, you clicked that you’re interested in a property and now you’re getting calls from multiple agents. You agree to meet one of the agents at the property, but 1st the agent wants you to come to the office or maybe a coffee shop. This is for the safety of both the client and the real estate agent/broker. Often times the 1st home that a person sees on sites such as Zillow & Trulia are no longer available. These homes usually fall into the “too good to be true” category. The home may be under contract/pending, withdrawn, expired or even Closed. Either way they are no longer available for you to view &/or purchase. The MLS system that your real estate professional has access to is real time and mostly accurate, but some agents who list properties don’t update property status as quickly as they should and sometimes other situations occur beyond an agents control that leave a property on the market for a while. It’s important to meet with a real estate professional before searching online so that you can get most of your questions answered, it will save you time & cause less confusion.
The buyer agency agreement is put in place to protect the Buyer & the Broker. We agree to use professional knowledge & skills to locate properties available for purchase. To assist Buyer through the process of property acquisition & Represent the interests of the Buyer in all negotiations and transactions regarding the acquisition of real property. Now I understand from the buyers perspective that you’re just meeting a person and want to keep your options open, so signing a contract with a person that you don’t know that well isn’t apart of your plan.
What I recommend is just signing a one day agreement especially if you’re just window shopping. Keep in mind that some agents wont meet with you unless you have already been pre approved.