Home Buying in Alpharetta>Question Details

Prakash,  in Alpharetta, GA

Can I change the agent after offer is accepted..?

Asked by Prakash, Alpharetta, GA Mon Nov 1, 2010

I have put an offer for bank owned property and It is accepted. They have asked us to put the new offer since old one was expired. I am not happy with the current agent since I did not find her trustworthy. I like to change the agent, Can I submit the offer through a new agent for same bank owned property for which offer is accpeted.

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You can change the agent and submit a new offer with her. However, the first agent might feel that she's entitled to the commission because she's the first one who showed you the property. What I suggest doing is calling the first agent's managing broker to let them know that you need to resubmit the offer and that you aren't happy with your current agent. They will help choose someone else to help you and work out the money situation within their office.
1 vote Thank Flag Link Mon Nov 1, 2010
Correction in my last post -

If you are NOT desperate, get out of the current deal and find another one. There are a lot in th emarket.

Shyam Nagalla
1 vote Thank Flag Link Mon Nov 1, 2010
Prakash,

If what you suspect is true, I would guess that the agent in question may be trying to make both the sales to happen for bigger credit. Both sales are more likely with each of you buying one property than expecting one buyer to buy two properties. If you really like and think its a gooed deal, go ahead and buy it. Otherwise let it go and look for another one through another agent. There are quite a few homes for sale that are lender owned. Lender owned homes have fallen in price significantly in the last four to five months. I have seen in my own experience. I sold a home to my client two months ago for 220k (100k less than it was originally listed for). The same lender listed another home in the same subdivision, bigger and better than the one I already sold, for 260k. This tells that lenders are having tough time finding buyers to dispose off the lender owned homes.

If you are desperate, get out of it and find another. There are a lot.

Shyam Nagalla
AllTrust Realty Inc.
678-643-0375
1 vote Thank Flag Link Mon Nov 1, 2010
Sounds like the Atlanta Housewives....

Your untrustworthy agent seems to be the procuring cause and original agent. You should either swallow and learn from this or contact the broker to see about using them or another agent. Either way, the first agent is due a commission by definition.
1 vote Thank Flag Link Mon Nov 1, 2010
I would like t add some more information since Mandy questions on "trust worthyness". There is a reason to call it since I research on another property and put an offer thorugh the same agent but I found that I lost that in same day I put an offer since another buyer had put an offer for the same property and that guy happpen to be my colleauge. I asked agent questions but she tried to avoid it, I suspect that she relveal my price and that guy put higher offer than me. Hope this clarifies that why I want not to pay the commission because she doesnt deserve it...I am ready to lose this home also rather then paying her anytihng...
1 vote Thank Flag Link Mon Nov 1, 2010
Prakash - thumbs up for your answer "I am ready to lose this home also rather then paying her anything."

Move on. Lesson learned. Just like Hank and Shyam stated.

I'm curious - what's the pending price for the bank owned Alpharetta property that you wanted to buy, but now no longer seek to buy?
0 votes Thank Flag Link Fri Nov 5, 2010
Dear Prakash,

If you do not have a 'Buyers Agency Agreement' signed with the agent you have now, you have the right to use any agent you like. If the agency agreement does exist, you will not be able to use another agent until you cancel the agency agreement with the broker you signed the agreement with. You will need to do this before you put the offer in again on the bank owned property. If you do have an agreement I would suggest you read it carefully, there should be a cancellation clause in the contract.

Hope this is helpful!!!
0 votes Thank Flag Link Wed Nov 3, 2010
Did you sign a Buyers Agency?

Bob McCormick
RE/MAX Paramount Properties
Cell: 404-558-1756
E-Fax: 678-253-6489
http://www.BobMcCormick.com

Over 18 Years of Service and 820+ Past Clients
0 votes Thank Flag Link Tue Nov 2, 2010
He works in my office but not very close friend. We never talked much before and I never knew that he is looking for a home. I happened to meet him at one of the get together and I came to know when I saw him talking to my agent.
0 votes Thank Flag Link Mon Nov 1, 2010
Prakash~If the other buyer was your colleague why did the 2 of you not communicate?
0 votes Thank Flag Link Mon Nov 1, 2010
Great question… but not an easy answer. However, I do believe that the question would ultimately be viewed thorough the lens of “procuring cause. This is sometimes a grey area. At its essence is the answer to who should be given credit for being the primary catalyst or cause for the contract occurring. In other words the procuring cause behind the contract.

The fact that the closing has not taken place within the agreed upon time frames does not in and of itself void or make voidable the contract, or void any secondary agency relationships that may exist as a result of the existing contract.

It seems that the focus should remain on the war and not on the small battles that occur in route to victory.

Van S. Purser - Managing Broker & Investor
Van Purser & Associates LLC
Providing Real Estate Solutions Since 1981
Office: 770-623-3313 Cell: 404-863-2340
Fax: 770-623-0531
Email: MailTo:VanPurser@VanPurser.com
Web Site: http://www.VanPurser.com
Web Reference: http://www.VanPurser.com
0 votes Thank Flag Link Mon Nov 1, 2010
It sounds like you really do want the home since you are willing to re-submit the offer. I would suggest that you don't upset the apple cart and just resubmit it exactly the way you were advised. Banks are getting pretty picky with paperwork....if it's not perfect or what they're looking for, they may look elsewhere
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon Nov 1, 2010
Ethically, you should not think of it. At this point you dont need to build anymore trust. But make sure you buy enough time for your inspection and financing.
0 votes Thank Flag Link Mon Nov 1, 2010
I absolutely agree with David. Your agent clearly worked diligently on your behalf to get your deal progressed to this point. The agent has a right to her commission. Perhaps you should reevaluate which one of you is being "untrustworthy".
0 votes Thank Flag Link Mon Nov 1, 2010
Legally it depends on the 'Buyers Brokerage Agreement' and if you and this agent have one in place... In reality, it's very un-ethical to do... If you told me that the other agent kicked your dog and spit on your mom the moment she got the paper work signed the maybe, short of that though....
Web Reference: http://www.morgansteam.com/
0 votes Thank Flag Link Mon Nov 1, 2010
not sure, just make a deal with your current agent and enjoy the deal
0 votes Thank Flag Link Mon Nov 1, 2010
LOL... NO. Your agent, worked the sale and is entitled to get paid. Why don't you call her and discuss your issues instead of trying to not get her paid. You should be able to trust your agent, but your agent deserves the same trust in return. Any agent who would agree to do what you just asked, can not be trusted either.
0 votes Thank Flag Link Mon Nov 1, 2010
Depends on your buyer's agreement with the agent.

However, you say you "did not find her trustworthy." That's not enough to go on. It's possible, on the one hand, that she was nearly as much in the dark as you while the process was going on. That's very typical. On the other hand, if she was forging your signature or submitting offers without your approval, then those are serious issues which should be brought to her broker's attention immediately.

Speak to your agent to try to resolve the problems. If that doesn't work, speak to her broker.
0 votes Thank Flag Link Mon Nov 1, 2010
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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