when you have an exclusive contract with a real estate
In realestate,an exclusive contract is usually between a buyer and a broker,not with a specific real estate agent. The purpose of this contract is to ensure that the buyer can’t look for homes on other sources (such as Zillow or Redfin) and work directly with the listing agent or another buyer’s agent,removing their agent from the transaction.
People also ask
Can I work with another real estate agent with an exclusive contract?
If you’ve signed an exclusive buyer’s agent agreement for a specific type of property (single-family homes), you can work with another agent to look for multi-family homes, for example. What does an exclusive contract mean? In real estate, an exclusive contract is usually between a buyer and a broker, not with a specific real estate agent.
What is an Exclusive Buyer Agent Agreement?
Real estate agents work 100% on commission. An exclusive buyer agency agreement provides a measure of compensation if you switch agents midstream and buy a home that was introduced to you by the first agent. It protects the first agent by establishing a procuring cause. You’re free to pursue other homes with other agents.
Why sign an exclusive contract with an agent?
Save yourself the drama and sign with a top agent, who will be professional throughout the whole process and make sure you sign an exclusive contract to protect both of you. Why sign an exclusive contract with an agent?
How long after signing an exclusive contract can I work with?
If you’ve signed an exclusive contract with an agent, you can’t work with another agent until the contract expires. Once it does, usually between 30-90 days, you can work with another agent.