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Updated about 1 year ago on . Most recent reply

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Dan Bowe
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Signing a non exclusive representation agreement with a broker?

Dan Bowe
Posted

I'm fairly new to RE investing. I've started looking around and talked to a few brokers about deals I found online. One of the brokers said he could send me dealflow but required that I sign a non exclusive representation agreement. Is this common?

Also, the agreement specifies that if I buy a property through his service I'll be paying 3% commission in case the sellers broker doesn't split fees. Is that also normal? 

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,197
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Buyers better get ready for the fact that they're all going to need to sign buyer agency agreements in the near future if they want to work with an agent because of the DOJ. 

It's interesting that the DOJ says they want to protect the consumer, but the action they are taking will lead to mandatory buyer agency agreements and will likely lead to a rise in cost to the consumer.

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