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Updated about 10 years ago,
Georgia Real Estate Agents Law
Hi all,
I purchased my first two properties using a real estate agent that typically buys for out of state buyers. HE charges the buyer a commission (aside from the typical 3% that an agent receives from the seller). I chose him because I needed someone with experience in buy and hold market in the rougher areas of Atlanta.
We went into this knowing I would plan to move on and purchase on my own.
I'm trying to figure out a strategy so that I'm not locked into one specific agent, thinking this will allow me to make more connections for potential deals. Is this something not allowed by law? This also allows me to purchase FSBO or other non MLS deals without having to involve an agent.
When I was buying my own home (before getting into investing) my agent told me that legally, I need to sign exclusive or he can't do business with me. Is this true? If so, whats the work around?
I understand the agent doesnt want me going behind his/her back but at the same time, if I find something thats off MLS, and he/she isnt involved, I shouldnt have to pay an agent fee.
Thoughts?
Herschel