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Updated almost 10 years ago on . Most recent reply

User Stats

52
Posts
14
Votes
James De Silva
  • Real Estate Investor
  • Berkley, MI
14
Votes |
52
Posts

Buyer's agent contracts

James De Silva
  • Real Estate Investor
  • Berkley, MI
Posted

I'm in the process of putting in offer for a property, which was introduced to me by a realtor (though it's also publicly available on Zillow). Before putting in the bid, he's asking me to sign a buyers agent contract. There are two things with this contract that I don't like.

1. An exclusivity arrangement for all enquiries relating to the purchase of any single family property 50k to 100k through oakland county MI to be done through this broker for a period of 3 months.

2. An $295 fee that must be paid, even if I decide to not go through the purchase. 

I don't recall having to do either of these with my previous purchase. Is this something I can ask to be removed from the contract or negotiate out? I'm a real estate investor in Oakland County, Michigan obviously.

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