Buyer-Broker Contracts

hello hello hello my fellow pickle peeps hello peeps Diane, Randal Breax here coming to you live from Prescott Arizona we are so excited to talk about all the wonderful changes coming uh due to some lawsuits against lawsuits basically they’ve made made a couple of lawyers uh really wealthy yep and uh they’re not good lawyers because their clients made like maybe $5 each yeah when when is settl is all said and done because we know the news is is very slanted it’s not giving you the full story after this class action lawsuit is settled amongst all the sellers they will make a grand total of about four or five dollars per person per seller yeah um but it is upset the apple cart for everyone else contct El in the whole world that’s right and so we want to give you a heads up that especially in the state of Arizona effective August 1 every client we meet all of our lovely buyers coming in you will have to sign what’s called a buyer’s contract a buyer’s employee agreement yeah it goes by a thousand different names which makes it that much help that that’s much more difficult we call it a buyer broker agreement yes but basically it is a contract between a buyer and a buyer’s agent just like a listing contract is a contract between a seller and a selling agent or listing agent that’s right so you are signing that you would love to work with us uh that you were going to employ us to help you find a home y to help you with every part of your move and all the other multitudes of things that we do for you uh during a a closing and during the process um it will go over our compensation and uh you’ll see what our uh commission rate will be except for now we can’t call it a commission yeah we can we can on the buyer broker agreement yeah say it’s the thing all the yeah you know how life is now everything has a has a uh what do you call it when you can’t say the word you got to say something euphemism everything’s got a euphemism so yeah there’s the commission on the buyer broker agreement you can’t talk about commission uh buyer commiss buyer agent commission on MLS on uh MLS or the listing contract ever again so so all this complication just so a few people can get $5 each and a couple of lawyers who aren’t very good can make a lot of money so when you come in please be aware we are absolutely unable we are forbidden it will be breaking the law Etc yeah forbidden forbidden ver verbot any word you can say any word you can the word is n o if you do not agree to sign unfortunately we will not be able to open one single door for you to take you on a tour hey don’t shoot the messenger we cannot open a door without a contract right we are not don’t shoot the messenger yeah and by the way all the other agents uh will tell you the same thing and if they tell you something different please call us so we can report them that’s right uh because this is the new law this is the way it is and you H you have to sign uh there aren’t a lot of you out there but for you guys who like to work with more than one agent at at a time even though only one’s going to get paid uh you’re not going to be able to do that anymore you’re going to have to have an exclusive agreement with one buyer it’s like a marriage you have to be committed you have to sign that marriage certificate yeah yeah and uh we would love to help you and unfortunately if we say I’m so sorry if you come in and you don’t feel comfortable signing it we are going to have to conclude our tour at that moment yeah um if we uh do not have you sign it and we take you in anyway we could be heavily fined yeah and I mean heavily fined uh and or lose our license yeah so obviously we’re not going to do that it’s just please understand that we’re not trying to be heavy on this um we’re not trying to make you feel uncomfortable um you know out of your element and making you sign something it is a national law yeah it will be across the entire United States and they will be looking very carefully for people who are not doing it right yes they do they do so don’t hold it against us uh we just wanted you to know when you come in and be prepared so that you know yeah okay I get it we’ll do this and then we can discuss how this compensation will work yeah usually we’ll do a sellers concession there’s a whole bunch of ways that most of it’s just gonna be it it’s my take on all of this is uh it’s really not going to change very much except for some words some additional paperwork that’s right uh it it’s it’s I don’t think it’s really going to affect the industry very much except to just make it a little more complicated a little a little more paperwork a little more paperwork so we just wanted to give you a heads up on that um and let you know what’s coming and in our little neck of the woods in Prescot uh the law starts August 17th but in Prescot we are enforcing all of this starting August 1st that’s pretty much Statewide in the state of Arizona because I think Phoenix is doing the same thing yeah we’ve upped our game we got all of our paperwork uh updated and changed to reflect the new law and so anyway um don’t shoot the messenger when we see you and we hope you understand and we’d love to take you out in a beautiful tour um take you in a bunch of houses but you should know before you even get in the car we’ll have to have that signed so I hope you understand we don’t make other rules it is what it is people we don’t make the rules we wish we didn’t have to ask you lawers making the world a better and safer place for all of us that’s right but we can’t wait to take you on a fabulous tour show you some great homes and what our town is is all about none of that has changed at all none of that has changed none of that has changed at all we still give great service we help you with your move we help you with everything finding places to do this do that help me with this painters this we’re still on call for all of that y the only addition will be this little paperwork that you have to sign exactly I just wanted to make sure you guys knew that before you got here absolutely so don’t be thrown be forewarned this is coming August 1st we can’t wait to see you and uh take you around and have a wonderful day and uh learn all about our beautiful Town absolutely cheers so that’s our unfortunately our tip of the day if you like tips place to go is our free information site whether you are a buyer or seller or somewhere in between there’ll be something there waiting for you that will amaze us down inform entertain and overwhelm and it is all absolutely free there you have it oh I forgot to tell you where to go you got to go to pickle four pickle uh what is it pickle 411.com yeah pickle 411.com that’s it all these new forms all these new forms I got so many numbers in my mind I can’t keep them straight we’re trying to keep it all straight pick and educate our educate our folks out there yes all right we look forward to seeing you soon and let’s go buying bye bye