I do, I think it delayed the Spring market. It was not as busy as it normally is in my area (Lower Cape) Feb, March, April...but it picked up dramatically the past 6 weeks or so. When it's cold and rainy off-Cape where most of our buyers are coming from, they are not thinking about summer and buying houses on Cape Cod! The good news is that it HAS picked up and sales are up, as well as the average sale price (again, in my area) of Chatham, Orleans, Harwich and Brewster.... more
You can use whichever real estate agent you want. Real estate agents are required to disclose their relationship with you, whether it be as a buyer's agent, a seller's agent or a dual agent. It's not "really" a contract. Let me explain. Each requires certain fiduciary responsibilities to the party they represent.
In order for a contract to be legally enforceable, there has to be three elements: 1) an offer has to be made by one party and accepted by the other party; 2) the agreement must be in writing (verbal agreements are not enforceable), and 3) something in consideration (which means the parties to the contract must receive something of value in exchange for agreeing to the terms. (That's one of the reasons why you are required to put a deposit down on the house you want to buy). While I'm not an attorney and am not dispensing legal advice, you should check with an attorney to be sure.
Agents do expect to be paid for their services. How a buyer's agent is paid is typically from the seller of the house you want to buy, and that which is made through the listing agent. Most if not all agents will want you to agree to use them to help you find a home in exchange for providing listings, dispensing advice, and shuffling you from listing to listing.
If you decide to make an offer on a house, and it's accepted by the seller, and the house is subsequently sold to you, the agent who first brought you to that house (typically within a limited time) is the one who is entitled to the commission.... more
According to those whom have already answered, it is a disclosure. We have one in our office to. The disclosure we use simply states that we have given you the agency guide for WA.
If you are not happy with the commission your agent stated, you should put in writing what you are able to pay for a buyers agent. As the funds are allocated by the seller, should the seller be offering less then 2% then you will pay the balance. For some that is ok, some it is not. Some buyers want to hire an agent for a flat fee, those are options you should talk to your agent about or their broker. Then make sure it's in writing so there is no confusion later.
I can't think of a time that I charged a client more then what the seller had already allocated for a buyer's agent commission to be. I've done less, never more.
Just as a last thought, if a buyer's agent is purely motivated by the $ sign's in their eyes they may not be a good fit for you. As a word of caution, the agent can easily choose which listings they send you or show you. Meaning if they are only money motivated vs client motivated you may not be seeing the properties that pay less commission.... more