EXCLUSIVITY AGREEMENT WITH BROKER/REALTOR

[Atanas Angeles]

Hey Everyone!

I have purchased a few properties in the past, and this time around I got into contact with an agent who claims that they will find me an off market property at discounted price for us to fix and flip. We were asked if we would be comfortable with an EXCLUSIVITY AGREEMENT. I thought that I would be ok with it. A day later I received it, read through the contract, and I was shocked by the limitations. It’s for a period of 365 days, and it shall automatically renew. The area covered is a rather vast area in Los Angeles. Further: "if the buyer sell or lease the property purchased, the buyer (me) shall retain the services of the same agent as the listing broker/agent." 

I had also mentioned to the agent in our conversation that our strategy is to purchase 2 properties within 12 month period or less. This Exclusivity Agreement was such a turn off, makes me doubt the agent. So many events will change in 365 days, and I will evolve as an investor tremendously , I could not possibly sign an Exclusivity Agreement with these terms, it has too many limitations.  I'm a serious buyer, I am not a first time buyer that needs someone to hold my hand, I know exactly what we are looking for, and whoever delivers I will close on it.  We only had 1 conversation with the agent then a marriage for a year? What are your thoughts?

Thank you for your time in reading and expressing your opinion.