Tony and Suzanne Marriott Yes, BBA's are mandatory here to represent the buyer. A pre-qual or proof of funds is a must.

I see no reason as to why a Buyer shouldn't sign a contract in the same way we require a Seller to sign.  Boggles my mind that such a different mindset happens depending on which side of the fence they're on.

Every time, I sell our brand and they either want to work with us or not. I've found that anyone willing to go through the hoops of pre-approval is very serious about moving. 

A lot of agents dont bother with either and end up wasting a lot of time.

They sign an agency disclosure form but not necessarily a buyer broker agreement. All are referred to a loan officer if they do not have a lender letter in hand.

very few agents around here get an agreement with buyers. pre qual is most of the time. once they get deep into it, they all do.

All buyers that I work with will be Pre-Approved and POF prior to setting an appointment to show property.  Why would one waste time driving someone around to see homes when neither of us really knows if what they can afford?  A Buyer Broker Agreement is the next step and I have not had any issues with anyone signing one but I also have a Buyer Presentation that explains what I do and it just makes good business sense to do this for all involved.  -  aka I'm Not a Taxi Driver!!  

Absolutely.

No. We have a lot of tourists who decide to look at properties and only have a day or two available. It is rare for any agents here to get a signed BBA but I do occasionally. I usually get the pre-approval letter, or pre-qual if they are in a hurry.

I always get a pre-qual and buyer brokerage.  On proof of funds it depends on the price point.

I've never used one and have been burned on rare occasions over a 20 year career.  I don't us it because I wouldn't sign one myself.  People call a real estate company and get an agent at the up-desk.  They know nothing about the agent, company or community.  It seems foolish to sign a contract under these conditions.  We have procuring cause if we show a home and the client ends up buying the same home with another agent.  I haven't forced that issue either but it does hurt.  It also hurts when working with a client for a long time and then they buy a home at an open house.  That's why we get paid the big bucks.

What do I do....

first I recall my 4th grade teachers advise.."Any question containing ALWAYS or NEVER is FALSE."

I don't ALWAYS do anything..."Sometimes I say 'Good morning," other times I say "Hello." 

My intent is to secure their funding docs, which also serves to prove their identity.

The reason they call me is because of the plans I offer that establish loyalty. The BBA is not needed regardless of what my broker shouts.

No, not always.  Every case is different.

Mostly, there are times it takes a couple times out for a buyer's agency.   If I have a seller just wanting to LOOK to see if there are any homes on the market they would like before listing their home, I will take them out to a few, but otherwise never put someone in my car without lender letter or proof of funds.