You can see in my title that I am seeking some free advice. An agent has requested that I sign a Single Party Commission Agreement. This is the first time it has been requested of me before presentation of the offer. I have had offers where the agents weren’t being paid commission, and others where it was specified that the buyer was paying the broker the commission.
Is this document something I should be wary of? Thanks.
Does it specify for that one home or future home offers too?
It’s specific to that home. I’ve never been presented with one before.
I think that’s pretty standard? Make sure there is a expiration date like 3 months or so. If the agent sucks you want the option of getting another one.
If I understand correctly even Redfin does this–by putting the offer in with them, you agree not to submit with anyone else. Though I think it’s in the offer itself.
If it’s offer specific then the expiration won’t matter. In this day and age the house will not last two weeks without getting an offer, unless the listing price is insanely unreasonable.
I thought OP was talking about selling their house?
Oh yeah you are right, wasn’t paying attention 
Now I am pretty confused what exactly we are talking about…
http://www.whatcomagents.com/files/Internal_-_Single_Party_Compensation_Agreement.pdf
You’re right. Looks like that is a seller’s document.
I would’ve had him sign that before staging and holding the open house…
Protects buyers agent if the property isn’t listed on the MLS
So is the agreement basically stipulating that you will pay this agent commission if house is sold to ‘their’ buyer? If yes, it’s ok to sign.
If the agreement somehow attempts to stipulate that you are supposed to pay commission to this agent if the house sells, irrespective of who it is sold to, then don’t sign.