Should I sign a non-compete contract?

Question

I interviewed with a homevestors franchise over the weekend and they would like me to join the team.

They said though, after having employee's quit to do their own thing after learning some things, that I would have to sign a non-compete contract.

What exactly does that mean if I sign it? What if I were to decide I didn't want to be with them anymore and instead go out and do my own thing? I don't want to sign something, end up not liking it, and not have an option.

Any help is grateful!!

Jason Hanson · Answer

I would NOT sign a non-compete.......you want to be in busness for yourself and not controlled by others.

Account Closed · Answer

Absolutely consult an attorney before you sign any non-disclosure or non-compete contract. By definition you are signing away your legal rights.
                        
                        Most non-competes are unenforceable but why bother with it? You are much better off using sites like this and real mentors who will help you get your investing business started.
                        
                        I have signed non-competes before in the corporate world but have always negotiated them to apply for a very specific geographic area and for a limited time.
                        
                        FWIW, an open ended non-compete contract is struck down by the courts 99.999999999% of the time.

Alex Locklear · Answer

Thanks Dan.

Yeah, I'm a little weary of doing this; sure it sounds great, as they do provide all of the marketing and overhead, but I'd only get "around 30%" of any whole sale deal.

Don't know about all that...thanks again Dan!