A brokerage carries some risk if they have agents working with clients as one would in a buyer's agency relationship when they are technically still transaction brokers.Another reason Derek's agent probably wants him to sign an exclusive is because she's a professional, does this full time as her career, has bills to pay/a family to feed and doesn't want to waste her valuable time answering lots of questions, giving valuable advice, analyzing properties, sharing her valuable knowledge, sharing her network of contacts, building what she believes is a mutually-beneficial relationship, and showing/writing offers on multiple properties only to have Derek buy a place with his cousin Ralph without paying her a penny.I never had a problem signing an exclusive when working with agents to buy properties before I got licensed, and now as an agent I of course prefer having one early on in a relationship, not only because CO frowns upon not having one legally, and my board of Realtors and brokerage also require me to have one, but also because I like to know I'm actually working with someone.

@Bill F.Thanks for the help!

Thank you Anthoney,  Appreciate your response.Very new to online education and Bigger Pockets fills the Bill...and more.Pumped to to land a deal in the near future...especially after listening to the podcasts!

I didn't know this. i am obviously not a lawyer but a quick search turned up a bill from 2016 discussing exactly this issue.

The surviving spouse, once I skip traced his phone number, felt stuck with having to pay the mortgage alone and then falling behind on his bills slightly.

Most likely means you are in a transactional relationship or using a CPA that uses an outdated hourly billing model. 

@Bill Exeter thank you. 

If you can cash flow at the HUD FMR you can explore the option to go section 8 during a downturn and Bernie will pay the bill! 

Originally posted by @Bill Brandt:Can you get a decent 4plex for $500k or an 8plex for a million in your area? 

@Bill Brandt oh, thank you.