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Updated almost 9 years ago on . Most recent reply
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Real Estate Agent asking for Exclusivity.. is this normal?
Hi BP,
I'm starting to look for properties in West Los Angeles (Culver City/Mar Vista, etc), and I found an agent who seems decent, but she's asking for "Exclusivity" no matter what I buy.
This is the first time I've worked with a Real Estate Agent that is asking for exclusivity (I purchased 3 properties before)... and although I'm happy to buy through her on anything she shows me, I don't want to be boxed in if I find something else one day in a totally different area (potentially from another Realtor).
Is asking for "Exclusivity" normal? This is the first time I've heard of it. She does seem to brag about how she can get investors deals and her RE/MAX team is #2 in the nation, but if someone is worth exclusivity, they better be damn good in finding me a deal...
I'm just concerned before I sign any papers.
Also, if anyone knows any honest, investor-friendly agents that have 10+ years experience in the West Los Angeles market, please feel free to PM me.
Most Popular Reply
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Exclusives for investors is unusual. I require a 1 year exclusive for buyers. This is because they are inexperienced and need a lot of time and guidance throughout the entire process of finding and buying their home. Without an exclusive they will waste six months of my time and then buy something on impulse from a listing they find on StreetEasy or Trulia.
I have a contract with investors that obligates them to pay my commission only on a property that I bring to them. So, I find the deal, bring it to the investor, work with them through closing the deal, and get a commission.