Another element of the exclusive agreement with a buyer`s representative is compensation. All commission percentages are negotiable. However, it is very likely that the seller will end up paying the buyer`s agent to bring him a qualified buyer. Your contract could, however, include a minimum commission amount that you may have to cover if the seller doesn`t offer a commission to your agent. Be sure to read this part carefully. This is rarely the buyer`s fault, because most don`t understand how the business works and how an agent`s compensation is handled. These agreements can benefit all parties involved by bringing black and white expectations and understanding. The agreement should also indicate its duration, for example. B if it expires at the end of three months or if it is automatically transferred to a new contract on that date. Buyers and agents can develop the period that best suits their expectations and needs.
In this way, we saved more than $17,000,000 in fees. At Clever, we offer a free service to negotiate with real estate agents for the best possible deals. We recommend first-class full-service agents near you – so you can check multiple agents yourself before making decisions. There is no obligation. It is important to understand that any agreement you enter into and sign is usually with the broker and not with the agent (although some contracts may be with a particular agent within a broker). You can often go to the broker and ask for a replacement agent if you are not satisfied with the person you chose first. .