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This is a sample exclusive buyer agency agreement posted here. While it may not be the exact form you use/recommend, are the contents effectively the same? If so, I have these concerns...2.1 Buyer hereby employs Agent as Buyer's sole and exclusive agent to represent Buyer to find a property meeting Buyer's Specifications.Nice, Agent's interest is protected against immediate competition. And this protects the Buyer how?2.1 Buyer shall promptly disclose and refer to Agent all written or oral inquiries or contacts it receives from any source regarding a possible purchase.Even better. If Buyer finds something on their own, they are contractually bound to bring this back to the Agent?2.2(d) Buyer shall identify to Agent as "confidential" any communications or information provided to Agent that Buyer considers confidential and desires not to be disclosed by Agent.So, the only information protected is that which is specifically identified by the Buyer? All other info is fair game to be passed the Seller's Agent? Nice protection of the Buyer's interests.3.1 Said Agreed Commission is payable without regard to whether the Transaction is consummated as a result of the efforts of the Agent, owner, or any other person or entity.Sweet! Agent gets paid no matter who effects the actual sale? It's a good thing the Buyer is so well protected.continued...
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If you are looking for a home, using a buyers agent doesn't cost, it pays. When you use a buyers agent, you get the experience and advice of a professional that does this type of work daily for a living. Your home is your biggest investment, use a professional to help guide you through this. I guarantee my buyer agency agreements so there isn't a threat.
@ Pat - I probably don't, but that's not the reason for this post and question. Over and over, agents on this forum tout the benefits of this agreement to make sure the Buyer's interests are protected. I just would like to know how this document protects the Buyer...it seems more aligned to protecting the Agent's interests.Cheers
From your question, I understand that you do not like exclusive buyer agency agreements. My answer is that you should find a Buyer's Agent who does not require you to sign an agreement.
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