OfflineJust wondering if anyone has run across this when interview a Realtor. She seems eager to work with me and partner on some deals as she too invests in real estate and is currently looking for PM to get a non profit project of hers off the ground. She asked me to sign an exclusive contract with her when I am the Buyer of a property off the MLS. Any advice would be greatly appreciated!
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"Cut not the wings of your dreams,
for they are the heartbeat and the freedom of your soul." ~ Flavia
Kathy Wholesales TX
KM WholeSale Properties LLC
469-587-9967
1888-591-1096
Depending on the wording of the contract, you might have to pay her on every transaction from the MLS even if she is not involved. If this agent is an incredibly awesome one who is experienced, can find all the best deals, knows the values of real estate in the market... Then maybe so. It depends really.
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
I say no. Signing exclusively with a realtor entitles them to payment on every deal you do, whether they find it or not. If you are being honest with her, you would have to pay her even on a deal you found and did. A non-exclusive agreement is fine enough. She gets paid only for the deals she finds and you actually do with her. Also if you sign excusively you can only work with her and no other agent. I say keep your options open and keep control of what you want from her. You decide if you want to pull her in on a deal you find,to handle contracts or what have you or not. Just my opinion.
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)
Are you referring to giving the realtor exclusive right to be the only agent or agency for listing your property on the MLS. I would not give one realtor that option over my marketing options, I would say NO.
"Action and Mistakes" always-outweigh "Analysis Paralysis"
...Just do It"
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www.WeFlipDesMoines.com http://facebook.com/desmoinesinvestmentproperties
www.iowarealestateflipper.com
That's exactly my thoughts, just hadn't heard of it and wasn't sure how it would benefit ME!
Yes: Invest Des Moines, that's what the contract states and now I am seeing clearer, some of it conflicted what I've learned so far.
P.U.S.H.= Persevere Until Something Happens!-----Favorite DG Quote
"Cut not the wings of your dreams,
for they are the heartbeat and the freedom of your soul." ~ Flavia
Kathy Wholesales TX
KM WholeSale Properties LLC
469-587-9967
1888-591-1096
I will sign one that is specific to the property the agent provided me. Only that property and that deal only.
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Whenever an agent approaches me with one of these agreements, I tell him/her that I'd be willing to sign his/her agreement provided he/she also signs an exclusive agreement to represent only me. Usually, he/she balks at the request, and I'll leverage that response to drive home my point.
I explain that I'm running a business just as he/she is, and that signing such an agreement makes just as much sense for me as does for him/her.
Yet, I also explain that I'd be willing to sign a non-exclusive agreement with him/her, and that I won't go around him/her on any deal that he/she brings me.