Agents Confidentiality

[JoannaK]

Hi everyone,

I'm hoping someone can assist me here..

I am about to engage a Buyer's Agent to assist me with the negotiation and purchase of a few properties for my next project.

I don't want the agent broadcasting to the world what they are doing on our behalf, particularly to other developers.

Does anyone have a template of a Confidentiality Agreement for use with the appointment of a Buyer's Agent?

Any assistance would be greatly appreciated.

 

[WashingtonBrown]

Hi

Keep it simple....

"It agreed between the parties that if you, acting as the "buyers agent", open your big mouth....I will sue your ****."

Signed Both Parties.

Regards

 

[kathryn d]

We have a similar situation. The REA we use doesn't even need to be told to keep her mouth shut around her office cause she already knows this one other REA is immoral.
We almost lost the deal we are in the middle of because of it.

good luck

 

[Bamos]

Hi JoannaK
Firstly if you engage a buyer's agent make sure they are completly independent. ie don't flogg off properties from developers they are link with. Also make sure they don't sell properties. As for engaging a buyer's agent you normally sign an authority to act on your behalf. A good buyers agent will get the best 5-10% of the market. They normally get a fee of around 2-2.%of the purchase price. Highly recommended if you are time poor or are not familar with an area. But absolutle the BA will keep your details guarded so he can get the lowest price. Hope this helps.

 

[Xenia]

A true buyer's agent (not a marketeer for developers) will work for you and they are bound by fiduciary responsibilities to their clients. Under the land agen's act, you do not need a non disclosure statement.

What kind of contract are you signing between you and the buyer's agent? We own a buyer's agency, I would be happy to have a look at the contracts to see if appropriate clauses are where they should be!