I’ve been fortunate in that I’ve worked with quality clientele who’ve been loyal to me. This is in large part because I’ve asked for their loyalty.
However, there’s a document in real estate called the buyer-broker agreement. It essentially locks a buyer into working with a buyer’s agent, and if the buyer ends up buying with another agent, you still get the commission.
Sounds like a good idea in theory, right?
However, it’s a bit like a prenuptial agreement. My thought is: why would you enter into a relationship with a document that indicates that you may not trust the other person?
I’d prefer to start a relationship on a level playing field based on trust. My advice is not to use one.
Because if I’m a buyer and my agent says, “Sign this before I show you houses,” I’d feel untrusting about it.
So instead, I would just say to look your buyers in the eye, put out your hand and say, “I’m going to work really hard for you, and I all ask in return is your loyalty. Is that cool with you?”
That should suffice.