exclusive contract with buyer's agent

D

dethman_IHB

New member
my buyer's agent wants me to sign and exclusive contract before i make an offer on a house. however, the one he wants me to sign is the one which requires me to pay the broker fees if the seller doesn't. I am making an offer on an irvine house (which means it likely won't get accepted.) I don't really have a problem signing, as I like the agent.



However, I am concerned that if I want to purchase new construction one month later, that I will be responsible for broker fees. I have already visited almost all new construction here in southern california prior to meeting this agent, and the builder would not pay fees to the broker, and thus I would be responsible. So I would be stuck not buying any new constructin unless I want to add 2.5-3% to the purchase price of the home for fees, even if they didn't introduce me.



What's the best option in this case?



Thanks.
 
[quote author="dethman" date=1256607827]my buyer's agent wants me to sign and exclusive contract before i make an offer on a house. however, the one he wants me to sign is the one which requires me to pay the broker fees if the seller doesn't. I am making an offer on an irvine house (which means it likely won't get accepted.) I don't really have a problem signing, as I like the agent.



However, I am concerned that if I want to purchase new construction one month later, that I will be responsible for broker fees. I have already visited almost all new construction here in southern california prior to meeting this agent, and the builder would not pay fees to the broker, and thus I would be responsible. So I would be stuck not buying any new constructin unless I want to add 2.5-3% to the purchase price of the home for fees, even if they didn't introduce me.



What's the best option in this case?



Thanks.</blockquote>
I would highly discourage you from signing an exclusive buyer's agent representation agreement because of the risk that you outlined. Tell your agent that you will only sign the regular buyer's agent representation agreement...CAR Form BRNN. If you agent has a problem with that, you should find yourself another agent. The exclusive representation agreements are more used for listing agents than buyer agents. Good luck.
 
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