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GoodThoughts
Dreams do come true
Member since 2/12 2258 total posts
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Resolved - thanks all
Message edited 8/28/2012 1:27:53 PM.
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Posted 8/28/12 9:46 AM  |
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Prudential Douglas Elliman Real Estate
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marianne13
LIF Adolescent
Member since 6/10 887 total posts
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Switching realtors, as a buyer?
Did you ever sign a buyer's agency agreement with this realtor? If you did, then I would think you would have to tell them that you want to end the relationship.
You don't want to not tell them, find a house through another realtor and then owe realtor #1 a commission because the buyer agency agreement was still in effect.
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| Posted 8/28/12 10:23 AM |
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Re: Switching realtors, as a buyer?
If you have not entered into a contract with this realtor then generally speaking you have no legal obligation to continue to use them for your home search. However, if you have an agreement wherein they are your agent (i.e. a buyer's agent) then you would need to review the terms of that contract to determine how each party can end the relationship.
If you have any specific questions, feel free to contact me.
Good luck with your home search!
Kristen M. Breglio, Esq.
The Breglio Law Firm, PLLC
1225 Franklin Avenue, Suite 325
Garden City, New York 11530
p: 516.240.8033
f: 516.240.8032
www.thebregliolawfirm.com
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| Posted 8/28/12 10:27 AM |
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GoodThoughts
Dreams do come true
Member since 2/12 2258 total posts
Name:
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Re: Switching realtors, as a buyer?
Message edited 8/28/2012 1:28:13 PM.
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| Posted 8/28/12 10:52 AM |
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evrythng4areason
And then there were 4
Member since 1/10 5224 total posts
Name:
Kayla
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Re: Switching realtors, as a buyer?
when we were looking we basically did everything on our own, and we never signed an agreement
we found every house we looked at (except 1 that the re wanted us to see that was SO far away from what we told him we wanted)
he was eh (dh liked him more than i did), but we were kinda stuck with him in a way bc we found our house and put in an offer before we could switch
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| Posted 8/28/12 11:45 AM |
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AKD
LIF Adult
Member since 1/12 2637 total posts
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Re: Switching realtors, as a buyer?
Posted by GoodThoughts
We don't have an agreement of any sort. I called the realtor, gave the MLS #s I was interested in, and we met at the first property. Nothing signed or even spoken about.
Where does that put us? Safe to simply move on? What happens if we end up buying something we saw with that realtor? Does it matter that I was the one to find these properties?
Just let them know that you no longer want to work with them, it just wasn't a good fit and thank them for their time, and then find a new realtor. Just make sure you let them know in writing (I guess e-mail?) that you're moving on. We've gone through many relators before and only stuck with ones that really made sense for us.
Our current realtor is the one that gives us all the listings, and sometimes I send her things but she usually already knows about them. It's sooo important at least in our mind to find a realtor that gets us, our taste, and can give us recommendations we trust. I say you find a new one!
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| Posted 8/28/12 12:02 PM |
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Re: Switching realtors, as a buyer?
As Kristen (and others) have said, the only time you are not free to switch real estate agents is if you sign an exclusive buyer's agency agreement with a real estate agent.
Given that you said you did not sign any agreement with that agent, then you are free to use another real estate agent -- with or without giving the first agent notice -- although the courteous thing to do is let the first agent know that you don't plan to use her services going forward.
But a couple of things that may help you in the future:
1. You mentioned that you don't think that the agent will negotiate on your behalf. If the agent is not representing you as a buyer's agent (with or without an exclusive agreement, but most buyer's agents want exclusivity), then she is ethically obligated to represent the SELLER's interests. Many buyers don't understand this. But the way it works in NY is that unless you elect to use a buyer's agent, the agent who is working with you is still working for the seller (which is counter intuitive, becuase in most instances the agent doesn't know the seller). The agent will still help you research and find homes, present your offer, be there for the inspections, appraisals, etc., but the agent will be acting more as a liaison on the deal b/w you and the seller, not an advocate for you. This should be discussed upfront - there is a NY State Agency Disclosure Form that should be presented to you and signed by you at the first substantive contact with a real estate agent. You, as the buyer, can decide how you want to work with an agent, but you should be informed of your options and the pros/cons of each!
2. You should probably take the time to do a buyer's consultation with your next real estate agent. I always ask buyers to come in for a consult before I start showing them homes. That way, you can set forth your expectations and discuss your criteria. Some of my clients enjoy searching on MLS and Listingbook and want to be the ones to select the homes we see (of course, I will suggest others based on my knowledge of the inventory) whereas others don't have time or don't choose to do that, and want me to take the lead. But it's just a preference. Also, you mentioned that you didn't like the neighborhood your first agent took you to - But if you can discuss your criteria (and the rationale behind it) upfront with an agent, it will be more efficient in the long run and everyone can get on the same page.
If you have any questions about the buying process or would like to set up a consultation, please don't hesitate to contact me via FM or directly at [email protected] or (516) 587-7618.
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| Posted 8/28/12 12:43 PM |
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