Quote from @Terry Tokash:
I just looked at my brokers contract and there’s no way I’m signing it. The wording is in such a way as to lock me into that broker for the duration even if I don’t use him. Also worded such that commisssion is earned upon entering into a contract to buy, not at closing. A couple other things I took issue with as well. That may not be the intent, but lawyers don’t care what intent there was. It’s supposedly the standard form the national association of realtors put out so everyone will use it. I’ll see if he’s willing to change it and I’ll look around, but as of right now, it looks like I may be just going the RE lawyer route to purchase. Read your contract carefully and I hope y’all’s are worded better than what I just saw.
There are different forms of buyer agency agreement , including a non exclusive agreement in which you can work with more than one agent at a time , this is probably best for the investor. However it does allow the agent and brokerage to be protected incase of commission disputes, it sets apart specific addresses or territories in which this agent is working with you.
Keep in mind that everything is still negotiable
