Should I Sign an Exclusive Buyer Representation Agreement?

 

 

Video Summary

 

Should I sign an exclusive buyer representation agreement?

 

Exclusive buyer representation agreements are usually executed if you have an unusual request as a buyer, certainly in commercial transactions where they have to search to find a particular piece of property.  If you are in need of finding a piece of property which needs to fit your particular needs, I would think that you would want to sign an exclusive buyer arrangement because they will have to do a lot of work to try and locate and find a particular property and they have a certain real estate commission.

 

If, however, you are simply in the market to buy a home and you are looking at the various listings, I would hesitate to sign an exclusive buyer arrangement, since you can look at any number of properties on your own or if other properties come up from other agents then you are certainly in a position to switch.

 

The other problem with exclusive buyer representation is if you become disenchanted with your agent, who is your exclusive agent, you have a difficult time in getting rid of them or having to pay them, particularly if there is a particular piece of property.  I would suggest that if you do not have any particular needs or specific type of property that is going to take great deal of research, you may not need to sign a buyer representation agreement.

 

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