An off market commercial property that I recently became aware of has some interesting characteristics about the deal that I am a little concerned about. The agent that says he is in direct contact with the developer, yet has no listing agreement with him. He says that the owner is paying a 3% fee total so 1.5% for each side. He also says that he is the only agent that has this deal. What is the best way for us to protect ourselves to ensure this guy is not bluffing? What are the normal obligations of an agent that is in his shoes as far as providing info to us to ensure we get paid. He said that he is willing to sign an NCND that will state that we get paid what he is stating. It seems a little weird to me that he would be the only person that would have a deal of this caliber. Please let me know what you would do in this situation? Thank you.
