New Investor need help

4 Replies

I'm a new investor looking to get into my first house hacking. Found an agent who seems amazing. Good reviews, invests themselves, referenced, helped me find great financing etc... but they want to lock me in with a exclusive buyers agreement. I've heard good and bad reviews. What are your thoughts?

All your agent is doing is covering their own butt. Pretty much just saying that if you go somewhere else, they are being paid. Most agents will be more tentative with that signed, but you as the buyer should be sure that you want to use that person as your agent. No one wants to work for free, this agent may have had bad experience before as well.

You’re definitely not wrong for having mixed signals though, some people will sign that and then they get the agent from hell. I don’t see that being the case here though. 

I agree with @Jake Davis@Taron Wright  Sounds like the agent you are working with is already putting work in for you so he is doing what he can to protect himself if he is going to invest his time to help you clients.  He wants serious clients as you want serious realtor.  All the best.

I've never made any sign an exclusive buyer's agreement and I would never, ever sign one as a buyer. Saying they just want to make sure they get paid makes no sense since it's a commission business that they were fully aware of when they got into it. What if they mess up a deal and you have an agreement? Those agreements are rarely enforceable as you can't be precluded from moving on if you have cause or if you have free will to fire someone. If they are such a good agent, why would they need an exclusive buyer's agreement? If my clients don't want to stick with me, no problem. I couldn't be less worried. I get paid my commission when I do my job and if I don't or deals fall, that's just part of the business. I don't need to lock anyone in.