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Mimi Foster, Voted Colorado Springs Best Realtor (Falcon Property Company)

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Rainmaker
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

If a Buyer's agent requested a copy of a listing agreement, would you provide it?

The Buyer Broker Agreement is a contract between the buyer and agent and need not be shared with the listing agent, IMO. In fact, I think it is none of their business.

Jun 07, 2024 11:12 AM
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Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Must...resist...urge...to... go....full....snark....

Jun 07, 2024 02:02 PM
Rainer
393,638
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

It's my understanding in Georgia that the "MLS" is the only authority that can request a copy of listing/BBAs to "ensure" they are in place, not other firms.  Perhaps a document can be put in place that says "I have signed a BBA" with agent _________________"  but I'm not giving a copy of my agreement to any listing agent.

Jun 07, 2024 11:36 AM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

In California the listing agent and seller is not a part of that contract and have no legal reason to ask for a copy of it.  Furthermore, you would actually be violating the privacy of your client if you sent it to them without the client's approval (that's not California specific, that's a privacy in general statement).

 

In California, the only time the seller/listing Broker are allowed to see it/ask for it, is when on the purchase contract the buyer asks the seller to pay their obligation to their agent.  Then the seller has a right to see it.  Until such a time, I would tell the listing agent to pound sand.

This is no different than re/max, coldwell banker, etc. wanting a copy of my agency disclosure or my privacy act notice (both of which are strictly between my client and I).  I tell them to pound sand and explain privacy and contracts to their lawyers.  "Dear Mr./Mrs. Big Company Lawyer, if I sent you the privacy agreement between my client and I, I would be violating my client's privacy, so no.  Not going to happen."

Jun 07, 2024 03:07 PM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services
Jun 07, 2024 04:19 PM
Rainmaker
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Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO
Big Block Realty 858.232.8722 - La Jolla, CA
Serving Coastal San Diego, Veteran's & Seniors

No I don't have an issue with this and I do understand why you do Mimi Foster , but here's why I don't-pending the circumstances:

It's a familiar request:  This became a thing during The Crash years of 2007-2012 because the market became the wild wild west with "unsecured buyers" aka disloyal buyers using more than one agent.
Just redact the private stuff. They just want to know you have this buyer's loyalty. They do not need to see the details and that is how I was able to turn one in upon request without losing privacy.
If they questioned it, I said "I just proved I had one, I am not required to divulge private info". It always ended there.

That agent is just filtering out serious buyer/broker relationships from casual ones. This is crucial in a multiple-offer situation, as it adds an extra layer of certainty to the decision-making process. If it comes down to a tie and you don't have one, but I do, I win! I suppose if there was a legal argument against it, we'd have to cease and desist. But, I think it's more likely to become a common practice post-settlement. 

Jun 07, 2024 02:24 PM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I definitely don't think it's appropriate to share it. 

Jun 07, 2024 01:37 PM
Rainmaker
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Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Sounds a bit ballsy.   

Jun 07, 2024 12:19 PM
Rainmaker
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Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, SFR®, e-PRO®, GRI, AHWD, REALTOR®

Mimi Foster 

Maybe it is a requirement by the agent's office.  if so, have the agent, email you the requirement in writing. 

Maybe the agent doesn't know what the heck she is doing or understands the new rule to come.

Jun 08, 2024 05:29 AM
Rainmaker
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I'm not sure they have a right to a contractual agreement between yourself and a client. It's supposed to be confidential. We do have a form in NC that confirms a buyer agency, however, without needing to disclose the actual representation agreement. 

Jun 07, 2024 01:42 PM
Rainer
477,083
David M. Dwares
Title Professionals Corp. - Fort Lauderdale, FL
Title guy with a broker license

More proof that no one has any idea how the new rules will work moving forward (even though plenty of people think that they do), until everyone figures out a way to operate their business and stay in compliance.

Jun 07, 2024 01:13 PM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I don't like it and it BEGS questioning. 

Jun 07, 2024 10:39 AM
Rainmaker
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

"All offers must include copy of BAA . . . "

I'd show up with a BAA . . . blank. "You didn't say filled and signed" LOL LOL LOL

 

Jun 08, 2024 10:08 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

I do not have the right to ask for a copy of the unredacted listing agreement, so they have no right to review my BBA. Sounds like a broker desperate to develop their own form by stealing from others. 

Jun 08, 2024 03:52 AM
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

New home builders will request the BBA. I have yet to hand one over to an agent just because it was requested. Broker can verify!

Jun 07, 2024 06:06 PM
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Alan May
Jameson Sotheby's International Realty - Evanston, IL
Hot enough for ya?

It's unclear, at least so far, who is going to be responsible for monitoring whether or not we have a buyer's agreement in place by the deadline (whenever that turns out to be... currently August 17th).

So far, it seems that it needs to be the buyer agency's office... but I would imagine that the listing agency's office will, at some point want to see it, too... since there is a rule that says that the buyer's agency can only be paid as much as is agreed in their B.A.  So if they've agreed to accept 2.5%, and the sellers are offering 3%, the buyer's agency cannot collect the 3%.  So there might be some requirement for the listing agency to view that... .but as you point out, not yet.

(that overage, btw... can be given directly the buyer, but cannot be paid to the agent/agency).

Jun 07, 2024 01:45 PM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow Mimi, I wonder is this going to be the norm soon, you are the first to say that, can I ask is there a coop offer on it?

Jun 07, 2024 10:36 AM
Rainmaker
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Peter Mohylsky, Beach Broker
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

Asking is one thing, getting is a nother 

Jun 08, 2024 05:56 AM
Rainmaker
922,398
Jeff Pearl
Samson Properties / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Jerk agent. I'd fill out a second BBA that doesn't show what buyer agreed to pay their agent. Just TBD.

Jun 08, 2024 03:30 PM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Not happening.  Mine has a confidentiality clause, that means I'm not sharing it.

Jun 08, 2024 01:32 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

We often require that they have one, however I cannot imagine anyone willing to actually show a private doc like this.

Jun 08, 2024 12:22 AM
Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Seems odd 

Jun 08, 2024 06:24 PM
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I did not notice any of such request in my area, but very soon... B.A.  will become mandatory for all. 

Jun 08, 2024 11:51 AM
Rainmaker
1,005,866
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

Maryland has required a BBA since 2016. Not necessarily before the first showing since we also have seller subagency. Over the years, I've received a few offers with the BBA included. I advised the buyer's agent to take it out since their agreement is none of our business. The same thing has been stressed in CED classes. Our contracts indicate who represents who so there's really no necessity to make any other disclosure. Before that contract form change, we submitted a copy of Understanding Whom Real Estate Agents Represent which disclosed the respective agency relationships. It will be interesting to see if any agents request it here. I imagine title companies may need a copy in the future but I will not email a copy of a confidential agreement to any listing agents. 

Jun 08, 2024 11:26 AM
Rainmaker
908,813
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

It depends if you are a Buyer Agency state. We are in Connecticut and technically, if a so-called buyer agent doesn't produce a Buyer Agency agreement at closing, the listing agent doesn't have to pay the buyer agent, as per the local laws. This is not my interpretation, it's coming from a RE attorney. However, in practice it is rarely followed. There is nothing confidential in these BA agreements that would not be revealed in an offer or contract to purchase. 

Jun 10, 2024 09:49 AM
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Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

In Utah, it has been the law for years to have a BA in place prior to showing a home. 

Jun 13, 2024 10:50 AM
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Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Interesting how laws are so different in many states, Olga Simoncelli. Since there is (currently) no requirement for one, I can't see how she can make it a requirement of an offer. Thanks for stopping by!

Jun 10, 2024 11:39 AM