Exclusive Broker Agreement

[Chris Penny]

Hi, All.  I contacted a broker about a 6 unit property that ended up not being right.  He said he had some properties that were not yet on the market and would I like to see them?  I said I would be interested.  What he sent was a document entitled "EXCLUSIVE RIGHT TO REPRESENT BUYER IN THE PURCHASE OF REAL PROPERTY".  It was a contract that he is my exclusive broker. On top of that, the contract stipulates that I pay him $1500 up front "in consideration of Real Estate services rendered."

We never discussed an exclusive at any point. He just sent it. I have not met him and we have not spoken over the phone.  

Is this standard in commercial real estate?

Cheers - Chris

[Brian Adams]

@Chris Penny, I have bought over 1000 units and suggest you find someone else to work with.

I have never signed an exclusive and encourage you to do the same.