Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago on . Most recent reply

User Stats

4
Posts
2
Votes
Pete Xanthakos
  • Investor
  • Roseburg, OR
2
Votes |
4
Posts

Exclusive buyer broker contract?

Pete Xanthakos
  • Investor
  • Roseburg, OR
Posted

I'm a fairly new investor (fix and flip) working in my area (Maryland); at first I had a great relationship with my realtor.  He was responsive, we were getting properties under contract, things were moving fast and well.  We had 3 properties under contract (acquisition) within my first 3 months of working with him.

Lately however, I can't get him to respond timely, if at all.  He's not sending me any leads, etc.  I had bumped into an old friend of mine who's a new agent and told him what I was looking for and he started sending me properties.  I'd like to make 3 offers on some of the properties he sent me.  However, as I was going back through my old paperwork, and I don't know what possessed me to do so, I saw my VERY FIRST offer I submitted with my other guy had an exclusive buyer broker contract that stated "represent the buyer in acquisition of real property as follows: Any residential property..."  I normally never do that, if they require one for an offer, I have them list the property address, but I missed this.

My friend told me it's not a big deal, and that it doesn't limit me from working with another realtor that may bring me the property.  Can anyone offer me some advice or info - I just want to make sure I'm in the clear.  

BTW - sorry for the long post, it's my first one.

Most Popular Reply

User Stats

388
Posts
200
Votes
William Robison
  • Real Estate Consultant
  • Kansas City, MO
200
Votes |
388
Posts
William Robison
  • Real Estate Consultant
  • Kansas City, MO
Replied

Contact the other agents broker and request a cancellation of the exclusive agency agreement.  It doesnt get caught often, but you dont want to be in that position of owing someone else a commission.  On the next one, offer to sign a non-exclusive agency agreement.  That is all I use with my investor clients so that they are not pinned to just my services.

Loading replies...