Realtor wants us to sign contract.

[Keith Hackett]

1st time buyers. We just got approved for our first home loan. We understand that we need to look at many, many, many properties to educate ourselves on what is a good property and what is not. Our realtor is willing to show us as many properties over however long a span we need/ want (at least today that is what she said). We have viewed three homes and we love the realtor. Keep in mind we are comparing her to nobody because she is the first realtor we have seen in person. We have viewed 3 houses. Everything is going great. We already know one house is a “no-go” and have the other two to compare against each other. Everything is perfect which is why I’m worried. Our realtor wants us to sign a contract (which we haven’t yet) that basically states she is our official realtor and we won’t use any other realtors to view properties.

I do not like contracts.

I like flexibility.

I like learning.

I like comparing and contrasting people in the same way I intend to compare properties.

So far I like the realtor.

We intend to live in the house for a year or more before selling/ renting.

Advice?

[Don Konipol]

@Keith Hackett

Look at it from your Realtors viewpoint. All she has to sell is her time and expertise. She’s willing to spend an unknown but presumably large amount of her time, as well as offer to educate you, and all she wants is your promise that if you buy a property you will allow her to make the commission. Almost any other profession would charge per hour, or charge a retainer. If you wanted the same deal from a lawyer, you would pay a $10,000 to $20,000 retainer.

Everyone has to follow their own policy. If i was in her position I wouldn’t continue unless you signed the exclusive agency agreement. You are far from serious buyers.