Without signing this contract, you are essentially a customer and not a customer, which means that your agent does not represent you exclusively. Instead, not all relevant information should be treated confidentially and can actually be communicated to the seller. This obviously does not allow your best interest to be maintained, so it is very useful for you to sign this type of agreement and ensure that your agent works exclusively with you and vice versa. A purchase agreement sets conditions for an agent to represent a single buyer, a buyer may pay a fee, but for the listed properties, the listing agreement offers compensation to any representative of a buyer and the buyer usually pays nothing to that agent, but could, if additional amounts have been agreed. Each additional amount would be a “bonus”. These agreements may be specific, limited or exclusive. I fully agree @Joel Owens on that. And when I was in this situation, I was in advance looking for offers from all sources. I wouldn`t work with multiple buyer agents.

It`s useless, because they all access the same data. But if I found and bought a deal by myself or by a wholesaler, I would NOT pay the buyer`s agent. If the buyer`s representative does not agree, no problem. I would not work with this buyer`s agent. The idea of signing a treaty and concluding a legally binding agreement may seem daunting. But in the case of a buyer representation agreement, you will actually enjoy certain benefits that protect you throughout the buying process. Agents will try to get typical home buyers to sign this so they don`t waste a lot of time showing them real estate, and then they`ll find another agent to buy it at some point. No investor I know would sign it, and I don`t use it with buyers. I decide if I think it`s worth working with them in advance. So much for “when we are audited… It`s routine B.S. Brokers advise their agents to try to sign these agreements, but there are certainly no requirements, and the excessive majority of buyers never sign them.

It`s really a lame “excuse” when they try to get you signed, just like listing agents who say “My broker doesn`t allow me to make the list for less than 6%” rather than saying “it`s my decision, and I`m not going to list it for less than 6%”. To my knowledge, this is not a normal chord (it`s certainly not a requirement of KW). While I don`t know 100% how most agents write deals with investors, it looks like he`s trying to put you in something you shouldn`t sign. Buyer agreements are normal to make sure you pay him for the transaction in which he helps you. but 14 months and exclusivity for all transactions? That is unreasonable. There is a listing agreement between the owner and the listing agent. Brokers use an agreement providing for a co-brokerage agreement allowing other agents to enter the property to show or display it in preview, and sets the compensation to be paid to the broker of the listing agent. Brokers have concluded prior agreements that set commission distributions among the members of their territorial brokers, the common commission is 6% with a split of 50/50. However, you are required to sign this agreement before making an offer for a home.. .