@Doug Merriott thanks to Doug. This guy is a friend, and I want to use it. That is, if someone else finds us a good deal, or if we find one on our own, it`s just a break. I`m going to explain it to him and I feel guilty (my wife constantly tells me I shouldn`t do it) for all the work he and his wife do for us. I consider it a long-term relationship, and I hope we will do a lot of business over the years, and my wife will be her mentor, and I hope they will also make money from that. I would never let him show a house, and then I would buy it from another agent, and I think he knows that. An exclusive offer for an agency relationship requires the client to use that agent only for all transactions they can make over a period of time. These may have restrictions, such as. B excluded potential buyers or excluded real estate, and other agreements could be entered into, such as. B the payment of certain allowances to this agent and the possibility of paying other agents the usual commission for an exclusive listing agreement, for example. B 12 properties.
It is illegal for an agent to accept compensation without an agency relationship being established, it is also illegal for any agent to pay compensation based on a sale price or splitting commissions to another party who is not licensed. This does not exclude that an agent pays for the payment of services related to a sale, they can pay a craftsman to repair something that is needed, for example, to close. The fees paid by the agents become illegal, if these fees are linked to a successful transaction at a sale price, they may eventually pay a bird dog who will find them a list of possible offers. What they can or can pay depends on the agreement of their broker, in fact everything a broker does in the real estate is subject to the agreement of their broker, since it is the broker who is responsible for that licensee. Besides the fact that my experience with this realtor was really bad from the beginning and that I wanted to be as far away from him as possible, I am tired of the clause of the agreement I signed with him. Yes, some brokerages require service agreements with all agents working with buyers. You can limit it to a particular catchment area if you want mutant agents, as you are shopping in several areas. Exclusive buyer/broker agreements this is the form that I and other Palm Springs agents use with their buyers.
It is similar to the non-exclusive form, except that the buyer agrees to cooperate exclusively with the agent. In this case, the buyer cannot hire more than one representative to represent him and the buyer is not responsible for the commission if another party (such as the seller) pays for it. Listing agreements are usually for 6 months, it depends on the market and can be longer. A broker will usually be no less than 6 months, but can be if they are in a market with expected quick turn-arounds or sales. @Bill Morris here in Michigan must sign the agreement before you disclose confidential information, but I have never seen it with such a long date.