Exclusive Buyer-Broker Agreement

[Timothy W.]

I just moved to Utah and am interviewing RE agents to partner with.  I have had some great conversations with the owner of a brokerage in Salt Lake City, but to do business they want me to sign an Exclusive Buyer-Broker Agreement and Agency Disclosure.  

Is this typical or even desirable?  In paragraph 2 it seems to state that if I find a property without the help of the brokerage or its agents, and that property is not listed with a brokerage, I will still be obligated to pay this firm the brokerage fee.  Am I reading this correctly?

[Andy Jenkins]

Yes you are reading it correctly. It's a professional contract for professional services.