What Does an Exclusive Agreement Mean for Buyers and Sellers?

Roanoke Real Estate Podcast with Damon Gettier

Why do agents request exclusive agreement contracts when working with buyers and sellers? For one thing, this is how they make a living. They need to protect themselves. Nobody would go to work for someone else for weeks at a time and not expect to get paid. A real estate agent and their client both have something they need of each other, and an exclusive agreement cleans up the relationship between the two and puts into writing what everyone’s role in the transaction is. “An exclusive agreement contract is, essentially, an employment contract.” With this agreement, the buyer/seller knows they’re working exclusively with one agent and that agent knows they can spend the time, effort, and money to get them what they need and get paid for their services. The agreement, basically, is an employment contract. It’s no different than anyone else going to work every day and expecting to get paid for it. That’s all the agent is asking in that contract–if they’re going to commit to you, they’ll be compensated for their services. If you have any questions about buyer agency or exclusive agreements or you’re looking to buy or sell a home in our market, don’t hesitate to reach out to me. I’d be happy to help you.