Agent wants me to sign contract where he/she will be my exclusive buyer's agent

don't sign it. as a buyer, it's very unusual to sign exclusive agreements. as an investor, it's sometimes easier and better to go directly to the listing agent on each property. if you want to work with a specific realtor all the time, you do not have to commit yourself in writing. many investors work with a couple agents. do not get sucked into this. like you said, "what if the agent won't do what you expect? there are plenty of other agents out there who won't have you sign an exclusive agreement.

What happens if you do?? Does that legally bind me to that one agent? I had the same thing happen to me. Thanks.

it does legally bind you to that agent and as an investor/buyer, you don't need that. i can understand it as a seller, but not a buyer. don't limit yourself like that. once you see how they handle your business you might choose to be exclusive, but that doesn't take a contract. if you choose to sign one, be sure you can cancel at any time for any reason. just my opinion and i am a realtor in IN.

I am a licensed agent who invests and works almost exclusively with investors. I would never have my investor clients sign and exclusive agency. There are too many properties that I may not have access to. I would never limit my clients like that.
If the agent won't work with you otherwise find another one. There are many great agents. If you are interviewing one ask to see if they invest and have them prove it. If they don't invest you may want to find someone else or see if they are willing to be trained by you to support your investment criteria.

I have a couple agents I work with, and have no contract.
These posts offer really good advice. You will be sorry if you sign that. If they want your business, they will work well with you, not lock you up with just them.
Sandi

Thank you, Linda, Holly, jbezoski, and Sandi for your quick response.
I'm going to reply to the agent with this:

I understand your concern to sign the contract, yet I'm concern what if the agent would not do what I would expect from him/her? I would end up with the agent who doesn't do his/her job and I couldn't work with another one. Also, it limits me as investor because you might not have access to every property.

If you afraid that after finding me a property I would use some other agent, then I can sign an agency agreement specifically for that one property and do this on every transaction.

Thank Linda..

I actually was thinking about becoming a Realtor...whats holding me back a little, is that I have been buying/brokering mortgage notes for several years now, and I heard that if you are a realtor, you could no longer "broker any notes and it may limit you from other investments... Do you know if that is true?

my first question is "why do you want to be a realtor"? i am in IN and dealing with notes requires a license here, so i have not gotten into that. you would have to check with the real estate commission where you live or contact an attorney. each state can be a little different. i was kind of pushed into getting my license and if i had it to do over again, i would not bother. some realtors invest and they make both work, but i feel it can limit you some. it's all personal. just be aware that it can get very expensive before you ever make a dime.

My first thought was to allow myself to more marketable..but I also don't want limitations to my real estate investment goals; and spending the extra money and time to possibly do that just doesnt make sense to me. I appreciate your feedback.

Best,
Holly

I always ask them to sign the same saying they will ONLY work with me, then we both get a chuckle

Normally, a buyers broker agreement is for end users but here in NYC generally agents and brokers have an inside angle on properties, getting them down in price, etc.

Without an agreement, I generally work with the seller to get the best possible price for both of us.

With an agreement, I work for you to get you the lowest possible price on your deal.

They probably want you to sign just to see if youre serious and not trying to waste their time; thats an epidemic here with people who claim to be investors and have no idea what they are doing.

Hope it helps.

It's very unusual to sign exclusive agreements. as an investor, it's sometimes easier and better to go directly to the listing agent on each property. I appreciate your feedback.
Houses For Sale In Calgary Alberta

you will find out in this as other things in life not all will be truely honest with you and there not out for your best interest, isnt that something, huh, be careful, sincerely, Jim