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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Realtor question re: Open House
DH and I found a house online that we loved and when we inquired about any open houses, the seller's REA told us that it was on Sunday. We went to the OH on Sunday, loved it and are seriously considering it. I found out that my boss is a broker and would be willing to give us back our commission if we used her which would obviously save us a lot of money.
Now the seller's agent is claiming that she's our REA too because she showed us the house. We only went for the OH and only contacted her to find out when it was. Is she right to assume that we would be using her? I'm afraid now that she's going to try to screw us over and maybe convince the sellers to go with a different offer or reject our offer or something. Can she do that?
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Posted 6/15/11 12:53 PM  |
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b2b777
LIF Adult
Member since 9/09 4474 total posts
Name:
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Re: Realtor question re: Open House
Hmmm that doesnt sound right to me. Did you sign anything with that agent? If not, you should be able to use whoever you want.
Thats not to say that she will try her best to keep the entire commission by presenting offers through her in the best light.
I'd FM Christine...she is super helpful.
cbraun.dallow.com
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| Posted 6/15/11 1:21 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Realtor question re: Open House
If you went to the open house without a realtor and did not state you were working with one, you are most likely bound to the seller's agent and cannot use your own. That is the way it works.
If you signed the sign in sheet... even more so because your signature pretty much is consent to use that realtor exclusively.
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| Posted 6/15/11 1:31 PM |
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pickles16
Real Estate Professional
Member since 11/07 17227 total posts
Name:
Jen
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Re: Realtor question re: Open House
Posted by ave1024
If you went to the open house without a realtor and did not state you were working with one, you are most likely bound to the seller's agent and cannot use your own. That is the way it works.
If you signed the sign in sheet... even more so because your signature pretty much is consent to use that realtor exclusively.
REALLY!?!??! I never knew that? We would always go with no realtors and we never bumped into this problem !!! Wow
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| Posted 6/15/11 1:36 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Realtor question re: Open House
Posted by pickles16
Posted by ave1024
If you went to the open house without a realtor and did not state you were working with one, you are most likely bound to the seller's agent and cannot use your own. That is the way it works.
If you signed the sign in sheet... even more so because your signature pretty much is consent to use that realtor exclusively.
REALLY!?!??! I never knew that? We would always go with no realtors and we never bumped into this problem !!! Wow
If you read the sign in sheet, there is usually a disclaimer and/or very small fine print that says you are authorizing that agent to represent you. If you bring your own agent after the fact... they can fight you on that and not pay your realtor.
Even if there is no sign in sheet the agent can still try to enforce this (although its definitely more difficult to do without having a signature in writing).
Now in today's market, I think most agents will take a sale regardless if they have to give up the dual commission.
But some realtors will definitely try to enforce this as the OP is experiencing.
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| Posted 6/15/11 2:30 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Realtor question re: Open House
This is what I do if I want to look at open houses without my agent (but want to work with my agent if i see something I like).
I ask my agent for a stack of business cards. When I get to the open house and the person asks to sign in, I simply say "I am working with somebody that couldn't make it today, here is their business card"... and I hand them the business card.
Nine times out of ten there are no issues and the agent will understand. And you are protected.
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| Posted 6/15/11 2:36 PM |
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VanderZwang
LIF Adolescent
Member since 2/11 740 total posts
Name:
Gail
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Re: Realtor question re: Open House
We have an agent and sign in saying we are represented.
You actually DO have a problem now, it has to do with "threashold". The other agent got you to go over the threashold.
I would call the agent, or have YOUR guy call her. I would be pizzed that you are bound to some stupid crap on technicality.
Just tell her you dont trust her, dont know her and your not using her.
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| Posted 6/15/11 4:20 PM |
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snowprincess
My happy babies
Member since 3/06 3428 total posts
Name:
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Re: Realtor question re: Open House
we dealt with somethign siilar - we were working with one broker but went to look at preconstruction without him. they didn't ask and we didn't disclose that we were working with someone. we put a refundable hold on a unit that day because a big open house was happening the next day
when we went to contract the selling realtor said we did have representation. I did not back down because our realator invested time in showing us places and figuring out hwat we did not want. the seling realtor backed down = it was still a sale
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| Posted 6/15/11 5:04 PM |
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Re: Realtor question re: Open House
No one agent "owns" the buyer, unless a buyer signs a buyer brokerage agreement with an agent (in which case the buyer is contractually bound to use an agent if that buyer purchases within the contractual period).
Otherwise, as a buyer, you absolutely have the option of who you want to present the offer for you and work with you on the deal. This was just addressed in a recent NY realtor publication (as part of a larger article/insert on realtor ethics). While this is the "rule" -- many agents aren't up to date on the rules and will try to say that your realtor cannot come in now to present an offer because he or she didn't accompany you to the open house. So your agent will need to remain strong on this.
Now, that being said, you should ALWAYS disclose that you are working with an agent (if you are) when you attend an open house or have any other interactions with an agent that is not the one you are working with. Ideally, you want to be able to provide your agent's business card (or at least her name and company). Realtors work strictly on commission, and the realtors you see at open houses aren't even necessarily the listing agents. They could be colleagues of the listing agent looking to meet some potential buyers that they could work with. It just saves a lot of drama and misunderstandings and arguments if you are upfront about the fact you have an agent. Most agents will honor that, but even if they try to object, it is your right to work with another agent and have them make the offer, even if they didn't show you the house first.
Incidentally, the only paperwork you should be doing at an open house is filling out a sign in sheet with your name and contact info (or in my office, we take that info from people and log the info ourselves) AND a NY State Agency Disclosure form, which simply tells you that the agents you are speaking to at the open house are working in the intersts of the seller (since their office has the listing). There is nothing else (or at least should be nothing else) regarding fine print locking you into some relationship with the agent who happens to be at the open house. That agent may try to get open house attendees to work with them in the future, but there is no obligation on the part of the attendees to do so.
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| Posted 6/15/11 5:37 PM |
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Re: Realtor question re: Open House
Also, want to add about payment of the commission:
The realtors' commissions come out of the seller's proceeds. The seller's attorney gives the checks to the realtors at the closing. Once the buyer agrees on purchase price, the buyer has no say in what the realtors are paid and how much. The listing agent took the listing at X%, and will offer out a certain percentage (usually 2%) to the agent who brings the buyer. That offered out percentage is on the version of the listing the realtors see, so everyone knows what they are getting paid going in. But you as the buyer don't really have leverage with regard to refusing to pay the realtor... if anything, which realtor gets paid will be a dispute between the realtors and their broker's/offices.
(If you sign a buyer's brokerage agreement, sometimes the buyer will pay part of the commission, but that is pretty rare. It usually comes from the seller's proceeds in that case, too.)
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| Posted 6/15/11 5:41 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Realtor question re: Open House
It sounds like to me she wants the entire commission. If you have one it is split between the two.
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| Posted 6/15/11 8:17 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: Realtor question re: Open House
Posted by ave1024
If you went to the open house without a realtor and did not state you were working with one, you are most likely bound to the seller's agent and cannot use your own. That is the way it works.
If you signed the sign in sheet... even more so because your signature pretty much is consent to use that realtor exclusively.
exactly! that realtor ran the open house so you entered into the agreement with that agent when you went alone
when dh and i were looking, we were always asked if we were working w a realtor when attending OH
Message edited 6/15/2011 9:19:23 PM.
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| Posted 6/15/11 9:18 PM |
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martha1972
LIF Infant
Member since 6/11 85 total posts
Name:
martha
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Re: Realtor question re: Open House
same here! we went to a few open houses and never had a agent with us!
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| Posted 6/15/11 10:03 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Re: Realtor question re: Open House
Thank you soo much Christine for the information!
When we spoke to her at the Open House and she asked if we wanted to sign a binder, we told her that we were not ready because 1. we weren't pre-approved and 2. we were working with someone.
I had my boss (broker) call her today and apologize for the misunderstanding and the realtor was apologetic as well so it sounds like things will be ok.
And they dropped the price of the house today! 
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| Posted 6/16/11 12:34 AM |
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CallaLily
Thank you, Saint Gerard!
Member since 10/07 4937 total posts
Name:
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Re: Realtor question re: Open House
Posted by ElizaRags35
Thank you soo much Christine for the information!
When we spoke to her at the Open House and she asked if we wanted to sign a binder, we told her that we were not ready because 1. we weren't pre-approved and 2. we were working with someone.
I had my boss (broker) call her today and apologize for the misunderstanding and the realtor was apologetic as well so it sounds like things will be ok.
And they dropped the price of the house today!
That's great! Good luck!
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| Posted 6/16/11 8:59 AM |
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Re: Realtor question re: Open House
Posted by ElizaRags35
Thank you soo much Christine for the information!
When we spoke to her at the Open House and she asked if we wanted to sign a binder, we told her that we were not ready because 1. we weren't pre-approved and 2. we were working with someone.
I had my boss (broker) call her today and apologize for the misunderstanding and the realtor was apologetic as well so it sounds like things will be ok.
And they dropped the price of the house today!
Woohoo !!!!
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| Posted 6/16/11 9:13 AM |
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missfabulous
#mommyneedswine
Member since 6/09 10031 total posts
Name:
Colleen
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Re: Realtor question re: Open House
We had an issue and we were just LOOKING at the house. We had a REA who had given us carbs but I had switched bags so I didn't have them. We went to about 10 OHs one day. Each agent we told we were working with someone.
The last house we saw the agent gave us a hard time. She didn't even want to show us the house because our agent hadn't called her! She basically said if we ended up buying the house we would have to go with her. We were so turned off we didn't even give the house much consideration.
I wonder if REA at OHs realize how their behavior can affect buyers. One house we walked in and after speaking with the REA for a few minutes I ended up calling her a b*tch and walked out. (She was YELLING at my father, only after being extremely rude to me). I admit I was out of line but I was so heated over it. We didn't even look at the house- just walked right out.
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| Posted 6/16/11 10:24 AM |
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Re: Realtor question re: Open House
Glad it is working out for you, Lizzie! As long as people are upfront, most realtors are respectful of the relationships buyers have with others. Of course, there are always a few "bad apples" -- which is true of any profession.
I hope you can get the house.
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| Posted 6/16/11 3:45 PM |
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