Should an investor sign an Exclusive Buyer Brokerage Agreement

[ParShaun Taplin]

Hello all, I've spent time reading old posts on this issue but could use some clarifying.

We are new to wholesaling and have been working with an agent to look at some properties. Now that we are in the make an offer stage the agent presents us with an Exclusive Buyer Brokerage Agreement. There is no specific terms listed directly stating that we would be bound to use this particular broker, my concern is are we exposing ourselves to trouble by entering into such a contract? 

[Tony SanFilippo]

Short answer is YES!  

Now I would ask them to make the brokerage agreement specific to the property that you are buying, since they found it for you, that protects them and ensures they get paid.  Now also explain that as an investor you work with more than one source for finding houses, they will understand and make a brokerage agreement for each property they find for you that you are ready to make an offer on.  I believe if they find you a good deal, they should of course get to represent you and collect their commission.  But if someone else finds you a deal and the realtor had no involvement, you should have no obligation to use them for that transaction.