I closed on my house August 1st last month. My real estate agent just sent me a buyer’s exclusive agency contract and said it needs to be signed so she can file my folder. This doesn’t seem normal and I’m wondering if they’re trying to sneak something in.Any Advice on this?
Your agent went through all the steps to find and got you to closing on your home, but her file was missing documentation. Nothing shady here to worry about! If the RE commission audits her files, it needs to be complete.
Your agent needs the agreement in order to get paid by their broker.
I’m guessing you’re in a state where it was not required previously.
Did your agent do a good job representing you?
It’s clearly not an ask for money from you - Unless they were a horrendous nightmare to deal with, I’d sign it.
Well since the settlement date for change was August 17, it shouldn’t be germane. But within individual brokerages they may just want it for their file in the event that authorities look for compliance.
The other possibility is another agent is claiming that they represented you for that property and were the procuring cause for the sale. Ask your agent to be specific.
Couple of thoughts. One, we are frequently told the value of using agents is their diligence and familiarity with all of the paperwork. Here we have an agent who quite literally forgot what appears to be an important piece of paper to someone. Doesn’t really speak well of the value. Two, they want your signature for some reason. If it didn’t matter, they wouldn’t be asking for it. I would figure out why it matters to this particular agent and brokerage before signing. That doesn’t mean don’t sign it, but just make sure you understand the reasoning. (And don’t listen to the Reddit people saying it’s just to get her paid. Maybe. But find out for yourself.)
Look at the end date of the agreement. If the agreement end date has expired, then you’re doing it only to help your agent meet regulatory compliance. Nothing sneaky here
Broker is just checking boxes. If you opened escrow after the DOJ required changes and your agent didn’t have the agreement signed I suppose it could be claimed the agent wasn’t due a commission and the seller could sue. At least in CA anyone can sue anyone for no reason. just help your agent and sign it. Unless you don’t like them.
Your agent is probably checking off boxes.
An agent called me once asking for the loan approval letter…on a home purchase loan that had closed weeks prior.
I told the agent that the fact that it closed indicates that the loan was approved.
The agent seemed confused by this logic.