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Updated over 6 years ago on . Most recent reply
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Multiple brokers at once with exclusive contracts
I am in the process of buying a commercial property with one agent (with a signed Buyer Representation Contract), and am also ready to engage in purchasing a second property--closing within a month of each other. The real estate agent representing the second property also wants me to sight an exclusive contract. (I don' know if this makes any difference, but both properties are in the same state.)
I'm just sitting here reading the verbiage of the exclusive contract, and it makes it seem like the one agent can be the only representative, however, when I called and asked her for clarification, she claims it's for only the properties we look at together, or the ones she is actively listing.
Can I get some insight from an agent or buyer who has gone through a similar situation before? Will this stand up in the court of law, where an agent could not claim to get a brokerage fee on the other property, because I signed an exclusive agreement with them? Thanks!
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@Bradley Jordan My recommendation is that you ask the 2nd broker to write in specific language that covers your situation. In my experience, most agent will add in language that clarifies things, UNLESS their supervising broker restricts them from doing so.
It never hurts to ask, because you just might get what you ask for.