Home Buying in Westchester>Question Details

Mike Jones, Home Buyer in Westchester, NY

Did I betray my agent?

Asked by Mike Jones, Westchester, NY Wed Jan 16, 2013

Working with an agent for a number of years and came up on the losing end of deals on many occasions. A friend of mine who is also an agent insisted on driving me over to a new listing, one that was exclusive to his agency - also known as a pocket listing. We made an offer and won the bid. A few days later I informed my agent that we bought a home with another realtor. She was happy for us but I could tell she was in shock.
My question is...Was there something I could have done differantly to get my agent involved and not lose the sale? As I understand it, a pocket listing isnt open to MLS or other agencys..

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Antonio Sanchez’s answer

I first want to congratulate you on your new home. I am sure that your realtor friend was very happy for you that you bought your home. I just want to say that buying a home is one of the biggest investment that you will make in your life so you want to make sure that you are working with a pro and someone that knows the negotiations in real estate. When I work with my buyers I only work with them on a exclusive basis so the fact that you went with the listing agent was completely your choice and if your friend did not advise you in the beginning that you will be working together exclusively until they find you a home than you had no fault and owe no apology to anyone. This is a business and should be treated ass such so don't feel bad and congratulate yourself on your new home. If you have any other questions or know anyone interested in purchasing a home feel free to email me or give me a call.

Antonio Sanchez
Exit Realty Search
Licensed Real Estate Salesperson
3928 E. Tremont Avenue
CELL: 347-320-0673
FAX:    347-202-4966


0 votes Thank Flag Link Sat Mar 16, 2013
Hi Mike,

I think all parties would have been best served by being open (from the get go) about how and with whom you would be working with.

Kurt Wiesenmaier
1 vote Thank Flag Link Wed Sep 24, 2014
You could have had a discussion with your agent beforehand; or could considered paying the agent's commission; regardless she reacted appropriately....
1 vote Thank Flag Link Wed Jan 16, 2013

Typically a pocket listing is not open to all agents but just a specific agency. My first concern with pocket listings is why would the home owner allow this and there are not many agents that have pocket listings. They are usually a secret for a reason and typically it is not good reasons. I would say it would have been great to give a courtesy call to your agent but if the agent was a true professional she would have sat you down and explained correctly how real estate in a nutshell works. No worries you have nothing to worry about as realtors we have to protect ourselves and if your agent did not do so there is no one to blame. Good Luck on the purchase.

Antonio Sanchez
Exit Realty Search
Licensed Real Estate Salesperson
3928 E. Tremont Avenue
CELL: 347-320-0673
FAX:    347-202-4966


0 votes Thank Flag Link Tue Nov 19, 2013
I don't think you betrayed your agent at all. Things happen. I'm sure your agent understands.
0 votes Thank Flag Link Wed Jul 17, 2013
Why would my Agent write an offer?
0 votes Thank Flag Link Wed Jan 16, 2013
Hi Mike:

Its not uncommon on a Pocket Listing to also have your own agent write an offer.

Anyway, enjoy your home.

Good luck.

0 votes Thank Flag Link Wed Jan 16, 2013
Hi Mike: This is a common issue. Many buyers work with more than 1 agent. It's distressing for an agent to work for a long time with a buyer & lose the deal, but it happens from time to time. Obviously you need to buy the right house for your needs, as opposed to simply buying a house because your agent showed it to you. Pocket listings means that the listing office is not authorized by the seller to share their commission with other agents. In this case, you could have tried to negotiate your agent into the mix, like make an offer with the contingency that the seller must pay your agent x%. But there is no guarantee that they would have done so. You could have paid your agent x% to represent you, but you never signed a contract with them so you were under no legal obligation to pay your agent. Maybe you want to give them a generous gift for their time. Dinner? 2 first class plane tickets to Hawaii? A new Porsche? Just some ideas. Sincerely, Michael F. Levy, Principal Broker, Grand Lux Realty. http://www.GrandLuxRealty.com. 914-273-9688.

We're looking for more agents & offer commission splits up to 80% with no fees.

If you know anybody who might be interested, I'll pay you up to $2,000 each for your agent recruits.
0 votes Thank Flag Link Wed Jan 16, 2013
Mike, there might have been several things you could have done to include your agent in the transaction, but it is water under the bridge.

Your Realtor behaved professionally and I would refer her out to anyone who will listen; she has certainly earned this.

From this day forward, anyone you know who is looking to purchase or sell, give them her name with your blessings.

As a matter of fact, she is just the type of Realtor I would love to have in my group representing Westchester. Give her a call for me and see if she is interested; I am impressed.

0 votes Thank Flag Link Wed Jan 16, 2013
I have no contractual agreement with the old agent. I know I had no choice in the matter, but the old agent has been working for me off and on since 2007. I feel like I owed them the sale.
Is this a common situation?
0 votes Thank Flag Link Wed Jan 16, 2013
Unless you have an exclusive buyer agency agreement signed with the "old agent" or they showed you the property initially, you have no obligation to them. Your "friend agent" brought the deal to you and procured the deal so there is nothing the "old agent" can really do unless the above mentioned applies. If you didn't inform your "friend agent" that you were already working with another agent (if you had an agreement signed) then the problem is on your end unfortunately for not being upfront. Other than that you could have picked up the phone and called the "old agent" to represent you if your agreement was still in place but then the "friend agent" may have been screwed on the buyer side...and after all they did get you the deal!

E Patrice Hayes
Licensed Associate Real Estate Broker in NY, CT and GA

Keller Williams Realty Group
760 White Plains Rd
Scarsdale, NY 10583
0 votes Thank Flag Link Wed Jan 16, 2013
I said it was exclusive to his agency, not exclusive listing. Exclusive agency is also known as a pocket listing.Not on MLS, not exposed to other agencys
0 votes Thank Flag Link Wed Jan 16, 2013
First, if it was an exclusive listing that is not a pocket listing. If it was a listed property it is not a pocket listing. A pocket listing is a property not listed at all and the agent has been told by the owner that he might sell or will sell for $some amount. I meet people all the time who say, "I'll sell for $200,000 if you bring me an offer" and if not listed then it would be a pocket listing. An exclusive listing is one where the company the agent is with must be the selling agent and the owner can not sell it himself. Listings go with the company - NOT the agent. If it was a listing then that agent got both sides of the commission and was a dual agent and should have told you that in writing. There would have to be two agents, your old agent got the short end of the deal since the new agent got double the commission because they were a dual agent. It happens.
0 votes Thank Flag Link Wed Jan 16, 2013
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