Real Estate Agent Exclusive Agreement - Geographic Restriction

Question

I am searching for homes in two different geographic locations in NJ.

I was refereed to an agent who is local to one area I am looking at buying.

I told him I may want to look further south and want someone who knows the area better and wouldn't have to travel over an hour each time I wanted to see a house. He said this was not a problem and even offered to refer me to someone he knew in the area.

I am looking at signing the NJ Standard Form NJ 121-8/15 Exclusive Buyer Agency Form.

In my filled in copy from the realtor, the first realtor does document the specific towns I want him to look at for me. However, I wanted to confirm that the agreement only covers the specified metro areas and that another agent can search for me in other towns (and I won't have to also pay this realtor on purchase).

Otherwise, if I am actually locked in with this realtor for all geographic areas, then I want to try to find one person who can do both areas.

Answer 1

So long as both agreements specify municipalities without overlap, and you disclose in Section 2 that you have a business relationship with another broker then I see no reason for concern. I'm no lawyer, but I've read and signed many of these.

The Brokerage Fee section limits fees due to property you purchase that was introduced to you by that agent. These agreements are really just intended to protect the agent from losing out on brokerage fees after showing you a specific property.

This particular agreement seems pretty boilerplate and actually less restrictive than many of the ones that I have signed. If you are concerned and want reassurance, it could be worth contacting a real estate attorney.