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Video instructions and help with filling out and completing exclusive right to buy contract colorado
Hey what's going on everyone its Shawn Mitchell denver real estate agent with coldest things and in this video I want to talk about three key sections of the exclusive right to buy listing contract that will help you negotiate the best agreement possible between you and your buyer's agent so let's dive in the reason why this contract should be important to you is because it defines the agreement between you and that buyer's agent and probably more importantly what the duties are of that buyer's agent to you and I guess I should clarify that this is Colorado's exclusive right to buy listing contract if you're watching this video from another state it may vary so just keep that in mind that each state has their own variation of this contract now the entire contract is important and I would not rely solely on what this video highlights so if you have any questions I would recommend talking to your buyer's agent or someone that you trust they can give you specific insight into your questions about any other parts of this contract the first section that I want to highlight is the listing period in 3.6 this basically is the contract term between you and that buyer's agent it's the agreement that the two parties agree on to work exclusively together to buy a house in most situations it takes between three and six months for the typical buyer that I work with to find a house so I'll usually do a turn length between three and six months it is good to keep in mind though that some agents will ask for a longer duration if you intend on negotiating a shorter time period from let's say three months I would make sure and have a really good reason why you want to shorten that timeframe the first option that I think is probably the most likely for a real estate agent to accept is a let's say 30-day time frame with the option for that contract to be extended automatically if not cancelled before the end of that 30 days what this does for you is it gives you a chance to feel out that age to make sure that both parties are going to work well together and it gives an incentive for that agent to work really hard and prove him or herself during that first 30 days if you're sitting down with this buyer's agent in the trust level is already built they're 3 to 6 month is probably a good place to start or you could do something longer if you have specific ideas on what you want that next house to look like the next sections that I'd like to touch on are section 5 and section 6 section 5 talks about the brokerage the office of real estate offices duty to you and section 6 talks specifically about the agents duty to you these duties are all designed.