3 years ago
ZERO STARS.
ZERO STARS.
"THE WEICHERT DIFFERENCE"
If you are looking to buy any RE Property, this Real Estate Office is the last place to be used for it. All they want is to trap you into signing a contract (exclusive right to buy that is) and make you completely dependent on them; you are not going to be able to use any other Realtor for six plus months even if you do not like this office.
Moreover, if you decide to terminate this ridiculous relationship, you will have to pay $1000 as an early termination penalty (that is probably, how they make the majority of their income). By the way this so-called Contract is used only if the RE Office cannot provide adequate comparable service for the Buyer.
The RE Agent Mallory Stroud (witch was supposed to work with me) seemed in complete prostration and could not answer any questions, so she ran for Help and The Help arrived: Greg Spencer - The Broker. He looked very official and behaved like Supreme Leader, so when I asked him: how could I sign the Exclusive Right to buy Contract for 6 months with an agent that I saw for the first time in my life, do not now how knowledgeable she is, if she fits to be working on my project and even before the first showing? He replied: We, in Arkansas (then added) in our Office, require signing such a contract. After a few seconds of thinking, he pronounced: but it is completely her choice, if she is willing to proceed without it.
I have been in a RE business for 30 years and I have never come across such ridiculous condition: Unless you sign an Agreement, you're not gonna go see the properties
Indeed, I refused to sign it and told them, that I would have to report this issue to Arkansas Board of Realtors. Therefore, Mr. Spencer replied: Good luck with this one, I am sitting on that Board!
In conclusion my wife and I left the Office with very hard fillings, wasted time and a bad taste in a mouth.
GOOD JOB, WEICHERT . WHAT A DIFFERENCE!
=======================================================
In response to your response: as a Realtor, you should understand the difference between Buyer Agency Agreement and Exclusive Right to Buy Agreement
Some offices (like, for example yours) squeeze the Early Termination stipulation with the penalty (in your case) of $1000. It means that if you even do not satisfy the buyer s expectation, he cannot get out of this agreement in one peace. And, by the way, time is always very important for the Buyer.
Buyer Agency Agreement - Homebuyers typically sign buyer broker agreements with their real estate brokers/agents before writing a purchase agreement for the certain property. The buyer broker agreements spell out precisely who represents the buyer. It is also known as buyer representation, without any further obligation from the buyer s side.
This you have to learn before taking your Arkansas Real Estate exam.