Contract for realtors

[Maryann L.]

About 1/2 our properties are already listed. The homeowner wants us to buy and have our negotiatior do their thing...So far we have been verbally walking realtors through the process and how they get paid on the 2nd transaction, but I think I'm open to liability here.

The realtor has a contract with the SELLER, not me, so when I step into the picture, I'd like a different contract signed, but what? Anyone have any contract like this?

[Scott Hubbard]

Originally posted by wheelhouse:

Scott-

I've never heard of a DMA, can you explain it?

Thanks

DMA is a generic term for an agreement that is between you (the investor) and the listing agent that assures them that, while they agree to allow you to contract direct with the seller (a to b), you commit to list the property on the MLS for the (b to c).

Key provisions should be amount of commissions, co-op fees, property specific, and have an expiration period.

This is also known as exclusive agency, exclusive right to sell, and a few others. Not many agents will be familiar with this agreement and still other will be reluctant to use them. Personally they are designed to protect the interests of th agent, so use them only when necessary.

Really, this is a tip for those looking to fill their pipelines with REALTOR leads.