Is it a must to sign a contract with a realtor ?

[Lakeisha Baker]

I don’t want to sign a contract with one realtor because I’m not quite sure how the relationship will work. I don’t want to be roped into a situation where I need to see a property right away and they may not be available or they don’t understand why I’m not paying full price for a property. I would like to try out different realtors and make sure they will be a right fit for me. Is it necessary that I sign a contract to use a realtor?

[Jeff Copeland]

Many real estate agents are taught to "never show properties to a prospective buyer without 1) a preapproval letter or proof of funds showing the buyer is qualified to purchase a property in this price range, an 2) an exclusive buyer's agency agreement that ensures the buyer won't go around you and cost you your commission". In some cases, the agreement may even be required by their broker.

The reasons for this are pretty obvious if you think about it. 

1) As an agent, you cannot and should not take any schmuck off the street into peoples' homes. (If you were selling your primary residence, would you want agents bringing unqualified buyers on tours of your master bedroom when you're not home?), and 

2) Agents only get paid after the sale. So they won't stay in business very long if they show every buyer that walks in 20 homes, and then the buyer goes around them and buys the home directly via the listing agent, with a different buyer's agent, or without representation. 

So don't be scared off by an agent asking for an exclusive buyer's agency agreement, and never say never. There are very sound business reasons for them asking for it, and you don't want to walk away from a potentially great real estate agent over this relatively simple matter. 

When they ask for one, why not just explain "I completely understand why you need this, but I'm not willing to commit to anything long term until we've done a few deals and know each other a little better. Why don't we make the agreement good for [anywhere from 10 to 90 days] and renewable? That way, you're protected on any properties you show us this week, but we're not committed to anything long term if either of us decides to go in a different direction."

Needless to say, this requires you to work with one buyer's agent (per market) at a time. But there really is no need to do otherwise. 

Win-Win. Problem solved.