Real Estate Agents and Contracts

5 Replies

I called an agent on two properties listed in the MLS. I emailed them my list of questions (seller qualification form) and come to find out that this agent only "listed" the property for a flat fee, and offered to represent me and get me the info that I need, CMA, etc.

I told them that I would sign a non exclusive agreement for the two properties in question. They replied that they have never heard of a non exclusive agreement, but they would write up an exclusive and only list the two properties on it. They also said that if they bring a buyer, even without signing, they by defaut will represent the seller.

So they get paid either way and gave me the choice, but added in that if I sign with them, they give a cash rebate.

My question is, will this exclusive agreement prevent me from using other realtors on other properties while I am in the process of evaluating and placing offers on the original two homes?

I didn't want to ask the agent and sound like an idiot and reduce my credibility with them.

This may sound like a simple answer but it all depends on what the contract says. No one can answer it yes or no without seeing the contract.
The rest of your post kind of confused me you started talking about one property then two properties. Are you buying or selling?

I am buying, I am a new investor. Already put offers on 10 or so FSBO's and wanted to start working the MLS.

I was just going through the MLS and pulling out properties with indicators of motivation. This agent happened to be the listing agent for both of them.

Sorry for the confusion, I have corrected the first line of my post.

It sounds like you are talking about an EBA-Exclusive Buyers Agreement. If you don't sign what is the agent going to do not present your offer? I might have a problem with an agent that wants you to sign an EBA on these two properties and tells you that they will represent the sell. If I sign an EBA with someone I feel that I must exclude any home that I list. How can I perform the duties outlined in the contract when I represent both parties? Ohio law allows dual agency but my ethics do not.

No she did not try to push me into signing it, she only stated that I would recieve a cash back amount due to discounted commision if I sign with her. She said she can present my offer either way. However, I have a seller qualification form that has a list of questions, and a few of them would requrie input from the actual seller, which I have no way of contacting as their info is not listed on the publc MLS.

Originally posted by "Ohio Realtor":
It sounds like you are talking about an EBA-Exclusive Buyers Agreement. If you don't sign what is the agent going to do not present your offer? I might have a problem with an agent that wants you to sign an EBA on these two properties and tells you that they will represent the sell. If I sign an EBA with someone I feel that I must exclude any home that I list. How can I perform the duties outlined in the contract when I represent both parties? Ohio law allows dual agency but my ethics do not.

Originally posted by "Stormshadow":
She said she can present my offer either way. However, I have a seller qualification form that has a list of questions, and a few of them would requrie input from the actual seller, which I have no way of contacting as their info is not listed on the publc MLS.

I have found [at least some] seller contact information by getting the assessor parcel number and using the assessor's tax info. On our MLS sheets it's listed as tax code. On some, it might be "APN"--assessors parcel number.
Also, the neighbors might tell you the names and where they are.

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