Unrepresented Buyers –

Just Say No!

On August 17th, all Realtors must have their buyers sign a representation agreement. 

Some buyers will refuse to sign a representation agreement.

So what does this mean for Realtors if you offer to represent a buyer and they won’t sign a representation agreement?

Then Move On to Another Buyer!

It’s that simple: find someone else who will. If you’re a listing agent, it’s not quite as simple! 

When you market a listing, buyers will call you directly, or they may have visited an open house. During the call, you should promptly ask if they have representation.

If they do, ask to speak with their representative directly. If they don’t have representation, you should offer your services.

Of course, they may decline and insist on “self-representing themselves”.

If this is the case, you cannot help them, so ask their rep to reach out or show the property directly. Treat them the same as you would a buyer’s agent.

This means you can allow them access to your listing.

You can answer questions about the property and discuss ideal timelines for the Transaction, but your communication with a buyer’s agent should be the same.

An unrepresented buyer is a hassle because they will constantly be lost throughout the Transaction.

But make no mistake, this is not compensation for dual agency.

So what if a buyer calls you about making an offer?
Tell them to “send it”.

What if they need help writing an offer? Tell them they need to hire someone if they cannot draft an offer themselves. 

They need to hire an agent, an attorney, a paralegal, or use chat GPT, but they have to figure it out alone.

What if a buyer needs help with a form? The answer needs to be “NO”.

Or they ask you to send a blank copy of the ACH purchase agreement or some guidance on filling it out. The answer is NO! 

They either hire you, another agent, or an attorney or figure it out

independently. I’m (the presenter) not just trying to save you from working for free, although that alone should be reason enough to say NO!

But there’s also a question of liability. Inevitably, an unrepresented buyer will get guidance from an agent and later blame that agent for a problem.

These buyers may later claim they were just innocent consumers misled by a FASTT-talking real estate agent. You don’t want to be in that position.