Client Not Signing Buyer Agreement
So, I have a hyper-analytical client who I’ve been helping over the last 3 weeks or so. He’s on the hunt for an assumable VA or FHA mortgage, at 3% or under, and with a small difference between the asking price and remaining loan balance.
He’s not open to touring any listings I send him or he sends me, insisting instead on me getting him a bunch answers first like remaining loan balance, interest rate, rental restrictions and full HOA rules from condos, etc.
The questions are endless and after I make calls and send emails to listing agents, property managers, and lenders, he’s on to the next one.
I finally told him I was sending him a buyers brokerage agreement (I usually do this at a second showing but I’ve yet to meet this person) to sign as I’ve been providing him with brokerage services.
He responds with wanting 20 days or less and a non-exclusive agreement. I reply telling him I’m happy to do a 20 day agreement but only if we’re exclusive.
He then says he wants to limit the counties, is asking that 0.5% of commission go towards his closing costs, and that he wants the freedom to pursue properties on his own if he wishes. Oh, and that he could work with another agent without giving reason.
I’ve never had anyone hammer me back and forth over a f*cking bb agreement. I’ve tried explaining that my compensation does not come from him, that I have a fiduciary responsibility within our relationship, and that I have his best interest at heart. I’ve already demonstrated my services and abilities by providing loads and loads of information costing me lots of time. Should I walk? I can’t imagine negotiating on his behalf with a seller and getting him to closing without it being a never ending nightmare. These are major red flags, right?