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rleinvprop
Real Estate Investors
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Buyer's Agent Agreement/Exclusive Retainer Ageement to Locate Property
Wednesday, September 26 2007 02:14 PM
Hello Group,
I am asking this question because I found some information on it in some educational materials I have been reviewing.
I/we have been asked, in the past, to sign one, or the other, of these agreements, when working with a real estate agent.
We have always declined, or ignored, the request to sign either of these.
My question: Is there any advantage to having an agreement like this in place?
My thoughts: Unless this agreement would give some strategic, or financial advantage to the investor, these have no advantages. But, is it possible to negotiate better terms (lower brokerage fee or commission, for example).
So, other than controlling the commissions/fees paid to the agent, I really see no other advantage to ever enter into either of these agreements.
Any other thoughts, or comments?
Robert & Lori Elliott
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Randy Hughes
SFH Master Advisor
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Re:Buyer's Agent Agreement/Exclusive Retainer Ageement to Locate Property
Wednesday, September 26 2007 05:24 PM
Robert & Lori,
I would not sign an exclusive agreement to do anything. It restricts your dealings too much. Just tell the agent that if he/she finds a good deal and brings it to you...you will make sure they get paid. AND THEN HONOR THAT AGREEMENT.
Randy Hughes
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