Should You Sign An Exclusive Buyer Agency Agreement- April 12, 2021
Also note that not all buyer representation agreements are exclusive. The terms of a non-exclusive agreement can only extend to real estate within a given price range or within a given geographic area. Realtors generally do not enter into non-exclusive contracts, but as a buyer looking for your own interests, it may be best to have several people work on your behalf until you have decided whether you can fully trust one person. Reading and negotiating the terms of your buyer`s agency agreement is key, but if you want someone to best defend your interests and you are serious about buying with the agent`s help, you should drop off your bar and sign. After a sufficient search, you plan to meet your new agent at Starbucks to start a day full of home shopping. But then, while he takes a sip of your vanilla latte, he drops a contract and hands you a pen. You haven`t even seen a single house. You should sign this thing as an exclusive buyer agent agreement? The agreement should describe the nature of the property to be acquired and its price range. For example, if the property to be acquired is described as a detached house, you are free to follow a 20-unit building through another real estate agent. If the acquisition parameters limit the contract to real estate in a particular county and you decide to buy in a neighboring county, you are not bound by the terms of your buyer brokerage contract. As I said before, everything is negotiable in real estate. Of course, an agent might want a four-month deal, but you could do 12 hours if you really wanted to.
If you`re not sure if this agent is right for you or if you`re not involved in your search for a home, you should consider a reduced term. […] Talk to a REALTOR to represent you. Many people are hesitant to be “stuck” in an agent, but there are many advantages to working with a buyer`s agent. But it`s a contribution for another day. In the meantime, read more about why it`s good to have a buyer`s agent engaged on Frank`s blog. […] Good luck. I hope that after weeding the rest of this blog, which highlights the insider tricks of brokers, you will better understand why this exclusive buyers agency contract is requested by some and asked by others and how it ultimately helps the buyer.