Lyon Real-Estate Requiring Exclusive Contracts From House Hunters

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(Sacramento, CA)
Monday, February 7, 2005
Would-be home buyers sometimes work with multiple Realtors … and the one that finds the house of their dreams is the one to get a commission. The others are out. A leading brokerage, Lyon Real Estate, is now asking homebuyers to sign a contract that guarantees their Lyon Realtor a commission. It’s a bold move in how business is done. Owner Mike Lyon says it rewards agents who spend days hunting down a house, only to have the buyer defect. Lyon handled 9,400 home sales in the Sacramento region. The move could trigger other some Realtors at other brokerages to follow suit.