There are a lot of pros and cons with this. Try and think about the situation from both perspectives.
Picture yourself as a Realtor. You made a substantial investment in your business to provide great service, spend time researching the listings, make calls to listing Realtors to arrange showings, educate your client, lay out a strategy to purchase a bank owned or short sale home, spend time driving them around, open doors, identify possible problems with a home, further educate your client from your experience on what to expect and how to prepare to inspect the home, and that's the condensed list. then on top of that you pay for the additional items like your car, tires, fuel, your lap top or tablet,the MLS subscription, Supra lock box key and again this is a short list. Oh, and there's another issue many buyers forget. the time a Realtor spends with you on a weekend showing you property in the belief you are going to make a purchase could be time spent with their family or working with another buyer that is truly commited.
There is a Code of Ethics we as Realtors are expected to live up to and we honor that with our clients.
So let me ask you this, now realizing what's involved, do you think it's ethical to use multiple Realtors?
Did you tell these multiple Realtors that you are using many different Realtors to show you property?
Pick one and commit.
If they don't perform to your standard, select another.
That's the right way to do things.
Signature Realty Group
2008-2009 Master of Real Estate Award
I looked at a short sale with a realtor and liked it so much that I put $3,000 down as earnest money. The bank dragged their feet while all the time I was looking on line for another property. I found another one and again it was a short sale. This time it went through quickly. We purchased the home with no problem. When we wanted to buy a third home (buying houses for our kids), we contacted the same realtor and I think he just thought we were “looking” and weren’t serious buyers since we just bought one cash.
We found a new realtor, and when we told them what we were looking for, a single family house, we were sent many leads for town houses and condos in bad areas.
We found a new realtor and asked him to show us a house that I found (again, I found) on line and we liked it and put $2000 earnest money down. It was another short sale and we have been waiting 5 months for bank approval.
We won’t be buying anymore houses after this one, so this is a lesson learned too late. Here it is:
FIND YOUR OWN LISTINGS ON LINE. USE SITES SUCH AS REDFIN OR ZILLOW. LOOK AT THE ORIGINAL LISTING AGENT OR SELLING AGENT. LOOK THE AGENT UP ON LINE AND TELL THEM YOU ARE INTERESTED IN ONE OF THEIR LISTINGS. DO THAT FOR EVERY HOUSE YOU FIND YOURSELF AND USE THE LISTING AGENT ONLY!! IF YOU END UP BUYING THE HOME, THERE ARE MANY ADVANTAGES. FIRST, YOU ARE DEALING WITH ONLY ONE AGENT AND THEY REPRESENT BOTH YOU AND THE SELLER…NO MIDDLE MAN. SECOND, YOU CAN ASK FOR A DISCOUNT ON THE AGENT FEES SINCE THE AGENT WILL GET FEES FOR BOTH SELLING AND LISTING THE HOME. THIRD, THE PAPER WORK FLOWS EASILY BETWEEN YOU AND THE SELLER!
If you are finding your own listings, you are your own agent. You are inconveniencing only the listing agent and that is what their job is, paid by the seller, to show you the house. Don’t feel bad!
What I've experienced is pretty simple. An agent who values and knows they have something special to bring to the table wants loyalty from their client. I think this is true of most relationships... business or personal. I've found the best agents can afford to have an expectation of loyalty... their work, skills and knowledge give them enough business to allow such choices.
Perhaps you should ask yourself some questions to determine your best course.... What is important to you? What type of relationship do you want? Do you prefer a win/win partnership or is that unimportant? How are your goals best achieved? There are no right or wrong answers, simply a determination of what you want to achieve and how best to do so.
Like many of the agents who have responded, we work on an exclusive basis. However, we do not have you sign a buyer/broker agreement as we feel you have the right to change agents if you are unhappy with our performance. That is a business choice we've made and really has nothing to do with anyone else... our business, our choice.
You are making a business decision on how you want to explore buying and/or selling a house. Your choice based on your needs, goals and what you consider a good business plan.
Thank you for this question and the opportunity to explore possible answers.
Thank you for spelling it out so well. We work very hard in our business to serve our clients and customers and it is frustrating to work for weeks with a potential buyer only to have them go down the street and write an offer with someone else who has no time invested in the sale.
I hope this helps you to understand things a little better. Our Code of Ethics require that we ask a potential buyer if they are working with another agent. Perhaps it is a matter of just not understanding that a full-time REALTORÂ® sells Real Estate for a living. We don't get paid a dime until the sale closes so I need to ask you, is it fair for you as a buyer to take multiple agents time knowing that the only one who will be paid for their time is the last one you talk to?
Aspen Properties, Inc.
Research and interview before you make a decision and let the agents know that is what your doing. After that it would be ethical to follow-up with them and let them know your decision. Also, a friend with a referral helps or an agent with referrals.
Its no fun working for a client only to discover weeks down the road you will not earn an income from your hours of hard work.