Megan, Home Buyer in San Pedro, CA

What is the difference btw a Non-Exclusive/Not for Commission and an Exclusive Buyers Agreement? Our realtor is asking us to sign one of them.

Asked by Megan, San Pedro, CA Fri Aug 19, 2011

Our realtor is asking us to sign one of them and being first time buyers, my husband and I aren't sure which to choose. The Exclusive mentions a commission for the realtor, but I thought that was paid by the seller. My cousin bought a home last year and her realtor didn't ask for an agreement to be signed. Is this normal practice? Any help would be appreciated!

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My buyers all sign an exclusive buyer's rep form. If the property is listed on the MLS and is paying out a buyer's agent commission- that is what I get. The sellers pay both commission in that case.. If the property they are buying is a For Sale by Owner then the owner may pay or the buyer may pay my commission.
Yes I do work for a commission and work hard- I do not get paid by the hour or a salary- just the commission. My brokerage takes a split out of that commission and I get paid the balance.
If you really want an agent to be working hard on your behalf- finding you just the perfect property- then you should consider how they get paid. If they are not representing you- then technically they represent the seller.
This does differ somewhat from state to state and I am an agent in Minnesota.
Web Reference: http://topbrainerdagent.com
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