As a buyer who is strongly considering going the unrepresented route, I actually like this idea! The only tricky part is that I’d hire an attorney to help ME draft the offer I want to present but that would then open up to communication between you and the attorney which would force the attorney to assume a buyer side agent role; so this plan is not 100% straightforward.
As long as you don't make the attorney the point of contact your plan is manageable. Just go to the attorney when you feel like you in are in over your head, but don't let the attorney have direct communication or assume the agent role or else it will punish the wallet. (Just my personal opinion.)
@@BalboaRealEstate Interesting, most attorneys i know will ask the potential buyer, why you did not go with a real estate agent? Most attorneys don't want to assume the role of realtors.
No sir, it's about both the agent and the buyer being transparent before they engage in a relationship. If both are honest and sincere then there will be no issues with the fee paid for services rendered. Thank you for your comment.
how would you handle a buyer represented by an attorney? They are represented in a legal sense but couldn't sign your form and declare that they are unrepresented. Even the manager buying on behalf of an LLC is technically "representing" the actual buyer of record. I like this idea but it might need some thoughtght around what it means to be represented.
If someone has hired an attorney to represent them they are represented - which means the attorney needs to contact me. They have a legal representative, therefore that's who I'm speaking to exclusively. It's black or white, no grey area. The buyer has retained an attorney or not, and is represented or not. A LLC manager is authorized to individually represent the entity, but they are still the unrepresented principal. In CA you need a real estate license or to be an attorney to broker real estate on behalf of others. Everyone else, including corporate officers, managers, and fiduciaries are unrepresented principles.
@@justcallmebrian793 Yes, that is understood. The question was meant to challenge the presenter as to whether or not he would show the house to someone who says they have an attorney.
How would you handle a "cocktail napkin" offer from an unrepresented buyer? You mention you would just "clean it up" in a counter...but how? The RPA has pages of disclaimers and legalese that the Buyer wouldn't be using...that would've protected both sides. I'd be interested to hear your thoughts on how you would do this. Tks again for all the great insight!
If a buyer's offer is somewhat professional grade, then I will create a counter with any provision from the RPA that I think is necessary and leave it at that. But let's say the offer is cocktail napkin level, I mean really terrible, then I would transpose their offer terms onto a RPA and create a counter offer whereby the Parties agree the RPA I made will be the formal agreement. This way you have the benefit of the RPA, AND you have a paper trail that the buyer made their own original offer so they can't blame you for drafting a one-sided offer, AND you didn't offer free services to an unrepresented buyer. I'm not against creating an RPA once the buyer has made a bonafide offer, I'm just not going to do it for them. They are unrepresented, they can figure it out, and once they do they will get the same courtesy I'd give a buyer's agent.
I would simply not hire this guy to list my property nor buy a home he lists. Not sure how his form represents the seller best interest and how he is acting as a fiduciary.
This is an additional measure to screen exploitive and dishonest people, it does not compromise nor conflict with serving the seller's best fiduciary interests. Thank you for your comment.
The "Unrepresented Buyers" form presented here is fragile for the unrepresented buyer. It doesn't have the property address, length of the representation, and much more critical info is missing. Sellers should fire this guy before you hire him :) lol
As a buyer who is strongly considering going the unrepresented route, I actually like this idea!
The only tricky part is that I’d hire an attorney to help ME draft the offer I want to present but that would then open up to communication between you and the attorney which would force the attorney to assume a buyer side agent role; so this plan is not 100% straightforward.
As long as you don't make the attorney the point of contact your plan is manageable. Just go to the attorney when you feel like you in are in over your head, but don't let the attorney have direct communication or assume the agent role or else it will punish the wallet. (Just my personal opinion.)
@@BalboaRealEstate Interesting, most attorneys i know will ask the potential buyer, why you did not go with a real estate agent? Most attorneys don't want to assume the role of realtors.
It's all about the RE agent commission, who cares about the seller and buyer. right?
No sir, it's about both the agent and the buyer being transparent before they engage in a relationship. If both are honest and sincere then there will be no issues with the fee paid for services rendered. Thank you for your comment.
Wow! You work everyday!
Thank you for all the information. I will add it to my practice. God bless you always. 🙏🏻💯
You're very welcome.
Great job as always man. Keep them coming you have a subscriber here.
how would you handle a buyer represented by an attorney? They are represented in a legal sense but couldn't sign your form and declare that they are unrepresented. Even the manager buying on behalf of an LLC is technically "representing" the actual buyer of record. I like this idea but it might need some thoughtght around what it means to be represented.
If someone has hired an attorney to represent them they are represented - which means the attorney needs to contact me. They have a legal representative, therefore that's who I'm speaking to exclusively. It's black or white, no grey area. The buyer has retained an attorney or not, and is represented or not. A LLC manager is authorized to individually represent the entity, but they are still the unrepresented principal. In CA you need a real estate license or to be an attorney to broker real estate on behalf of others. Everyone else, including corporate officers, managers, and fiduciaries are unrepresented principles.
@@BalboaRealEstate If a buyer is represented by an attorney, would you require the attorney to show the house?
@@ramsrnja Most attorneys don't want to do that! and will tell the buyer to get a realtor.
@@justcallmebrian793 Yes, that is understood. The question was meant to challenge the presenter as to whether or not he would show the house to someone who says they have an attorney.
How would you handle a "cocktail napkin" offer from an unrepresented buyer? You mention you would just "clean it up" in a counter...but how? The RPA has pages of disclaimers and legalese that the Buyer wouldn't be using...that would've protected both sides. I'd be interested to hear your thoughts on how you would do this. Tks again for all the great insight!
If a buyer's offer is somewhat professional grade, then I will create a counter with any provision from the RPA that I think is necessary and leave it at that. But let's say the offer is cocktail napkin level, I mean really terrible, then I would transpose their offer terms onto a RPA and create a counter offer whereby the Parties agree the RPA I made will be the formal agreement. This way you have the benefit of the RPA, AND you have a paper trail that the buyer made their own original offer so they can't blame you for drafting a one-sided offer, AND you didn't offer free services to an unrepresented buyer. I'm not against creating an RPA once the buyer has made a bonafide offer, I'm just not going to do it for them. They are unrepresented, they can figure it out, and once they do they will get the same courtesy I'd give a buyer's agent.
@@BalboaRealEstate Thanks! That makes a lot of sense
Thanks for the continuous information! Do you mind sharing what tool you use to shoot the picture-in-picture format?
I recorded myself on my iPhone while I did a screen recording on my Mac and then I synced both videos in iMovie to do the screen in screen.
Sons of Anarchy will represent me.
like a true son
You should really be in charge of CAR
Mr. Balboa, do I have your permission to share your documents with other real estate agents?
Thank you in advance.
Yes, you can share them with other agents.
@@BalboaRealEstate Great, thank you.
I would simply not hire this guy to list my property nor buy a home he lists. Not sure how his form represents the seller best interest and how he is acting as a fiduciary.
This is an additional measure to screen exploitive and dishonest people, it does not compromise nor conflict with serving the seller's best fiduciary interests. Thank you for your comment.
The "Unrepresented Buyers" form presented here is fragile for the unrepresented buyer. It doesn't have the property address, length of the representation, and much more critical info is missing. Sellers should fire this guy before you hire him :) lol
Thank you
I don’t like his attitude. If he feels exploited he should find a new job.
You’re arrogant!