Do I have to sign an exclusive agreement?

 

Do I have to sign an exclusive agreement?

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In order to start visiting houses with an End Zone Realty buyer’s agent, you’ll need to have a pre-approval letter (if purchasing with a mortgage) or a proof of funds letter (if purchasing with cash).

You’ll also need to sign a Buyer Broker Service Agreement and some State of Oklahoma and company-specific disclosures.

The Buyer Broker Service Agreement states that you’ll pay the specified percentage or dollar amount as a commission to End Zone Realty (most of which goes to your agent).

If the seller is willing to pay the buyer’s broker (End Zone Realty), that amount is credited to you so that you don’t have to pay it.

This is why most people say, “It doesn’t cost anything to use a buyer’s agent.”

This agreement is exclusive for the specified date range, but additional conditions may be added to limit the scope (e.g. to be property-specific).

If you end up not buying any property within the specified time range, you don’t owe anything (unless your agreement explicitly states otherwise, which is not common).


Real Estate Answers: Buying

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