Home Buying in 10590>Question Details

modelerr, Home Buyer in 10590

Under what conditions, if any, should a buyer sign an 'exclusive' agreement with a realtor?

Asked by modelerr, 10590 Tue Aug 21, 2012

Since these boiler-plate agreements always favor the realtor, how much leverage does the buyer have to either not sign, or to re-negotiate the agreement?

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3
Everything is negotiable. If you like the realtor and you are confident that they can get the job done for you, re-negotiate the terms. If you are not satisfied with the terms, don't be pressured, don't sign and speak to another Realtor.

Debby Frank, SFR
Keller Williams Realty
760 White Plains Rd.
Scarsdale, NY 10583
(914) 498-5443
1 vote Thank Flag Link Tue Aug 21, 2012
Hi, the agreements are supposed to be fully explained by the agent before you sign. The terms are also mutually agreed upon. I think the lack of proper presentation has given people the wrong impression. Thos agreements protect the agent and the buyer as well. I can't tell you how many times buyers work with an agent and then disappear or try to go thru a listing agent directly. They think they are going to get a better deal and representation from the sellers agent. A sellers agent represents the sellers best interest all of the time. By entering an agreement with your own buyers agent you are guaranteed 100% of their time and diligence. They will also adhere to the fiduciary duties that occur once said agreement is executed.

Sincerely

Christopher Pagli
Accredited Buyer Representative
William Raveis Legends Realty Group
914 406 9023
0 votes Thank Flag Link Wed Aug 22, 2012
If your Realtor doesn't have some form of representation in writing it's unlikely that they would present an offer on a home you are buying as they wouldn't get paid. Some agents insist on buyers signing the representation agreement on first contact while others wait until a house has been identified for purchase and the buyer wants to write an offer. There is enough latitude within the documents that they don't always favor the Realtor. There are some points of negotiation including the duration of the contract and compensation for the agent.
0 votes Thank Flag Link Tue Aug 21, 2012
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