Home Buying in Oklahoma City>Question Details

Jonathan Lim, Home Buyer in Oklahoma City, OK

Hiring a buyer's agent after being shown houses by selling agent?

Asked by Jonathan Lim, Oklahoma City, OK Mon Jun 25, 2012

I recently looked at new construction homes with the selling agent that works for the home builder. I filled out a card that I was not currently represented by a real estate agent. If I hire a buyer's agent now, will they be limited in what they can do for me?

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Jonathan,

If you begin working w/ a buyer's agent at this point, the builder will be able to do everything for you except whatever 3% of the value of the home is. If you do not want to go at it alone because you feel that the builder's agent is not being truthful and up front w/ you, then you should get your own agent. If the builder's agent is treating you fairly and the comps work, use the builder's agent, but be sure you get a fence, 5k in closing costs & window treatments throughout. If you use the builder's agent, you might as well ask for a fridge too.

If you hire an agent to represent you at this stage, just write off the 3% in upgrades as peace at mind, knowing you are not being taken advantage of. Main thing, trust you gut and ask either the builder's agent or your agent for the neighborhood comps and for either of them to explain them to you thoroughly.

Hope this helps,

Josh Barnett, Realtor
Metro First Realty
Web Reference: http://www.1ListingFee.com
0 votes Thank Flag Link Mon Jun 25, 2012
Here are several scenarios:

If the listing agent showed you his/her listing and you decided you wanted a buyer's agent to sell you the house, that could be an issue. The best thing to do would be to tell the listing agent you want your own agent representing you. The listing agent could represent you if the owner agreed to it so that is a possibility as well.

If this agent has shown you other houses and you don't feel comfortable with this person and you are not under any kind of contract, then you can easily just find your own agent but let the other agent know you've decided to go in another direction. A good and professional agent will not get their feelings hurt. This happens all the time. Selling houses is how we make a living so we hate to lose business but it does happen.

A builders agent does work for the builder but they are usually good to work with and want a happy customer and a successful transaction but if they are a licensed agent, then they do work for the builder and cannot give you Single Party representation without the builders consent and they may not happen.

I hope this info helps.

Russell Benson, REALTOR®
Prudential Alliance Realty, Inc.
http://www.RealEstateOKC.com
1 vote Thank Flag Link Mon Jun 25, 2012
Thanks for all the great responses everyone. Very helpful.
1 vote Thank Flag Link Mon Jun 25, 2012
I would like to add that I don't require you to sign a Buyer's agreement because I feel like if you aren't happy with the job I am doing, then I don't want to keep you obligated to use me. I treat others as I would want to be treated without any formal agreements. :)
1 vote Thank Flag Link Mon Jun 25, 2012
Hi Jonathan:

You can sign with any Realtor you want and make sure it is a Single Party brokers agrrement. The realtor you choose should be able to help negotiate for your benefits and not the benifits of the builder: I have listed and sold several builders homes:
Contact me direct and I will tell you everything that you need to do and that we need to do together to get this home bought for you:
I will explain the differences in the Brokerage agreements:

Thank You
John Phillips
jphillips81@cox.net
405 413 0791
1 vote Thank Flag Link Mon Jun 25, 2012
No, as long as you didn't sign any kind of buyer's agreement with them. If fact, there are many unadvertised opportunities that may be available if you do hire an agent. I'll be happy to set up a time for us to discuss your needs. Please contact me at your leisure.

Bridgett Wells
Keller Williams Realty
651-9320
bridgettwells@kw.com
1 vote Thank Flag Link Mon Jun 25, 2012
Most builders will have a sign that the buyer must be accompanied by their agent at the first meeting to pay a commission to a Buyer Broker. You can certainly hire one and tell them up front you were there. They can certainly represent you and work out the commission. With new construction it is VERY important to have an agent who is WELL expereinced with new homes and negotiating new homes to get you the best deal.
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Mon Jun 25, 2012
If you only signed a card that they presented you and not an actual agreement, then a buyer's agent should not be limited whatsoever to work with you. You were simply letting that representative know that you were not currently working with a Realtor, but it's up to you whether you would like to or not. I would be happy to meet with you and help you in your home search. I am available 7 days a week to show you houses as well as I have excellent communication and response times on any questions that you may have in the home buying process, including any financing information that you may need. I have several references you may talk with at any time. Call me at 405-370-3886 anytime (or text) or you can email me at jpoch@pldi.net. ~ Jennifer Poch, Apple Realty, http://www.AppleRealtyOK.com
1 vote Thank Flag Link Mon Jun 25, 2012
Hi Jonathan,

Most of the the advice given has been pretty good. I dont mean to beat a dead horse but I wanted to give you my two cents! What you are describing is very common and there is a part of it that I have noticed as a trend. I work with 100's of home buyers and I cant help but notice an overwhelming trend of buyers wanting to work/see homes with the listing REALTOR and the listing REALTOR only. I am not sure where this is coming from, but my personal feelings are that this is a mistake. It has been something that for years certain industry leaders have tried to educate the public about but it never seems to stick.

I clearly agree that the listing REALTOR may have more knowledge of the home than a buyers REALTOR, though a REALTOR representing the buyer and get any information they might want. Also, the listing REALTOR has already agreed to work to the best interest of the homes seller, not its potential buyers. Does this make sense?

The analogy that I like to use is if someone was suing you for whatever reason, would you hire the same lawyer to defend you as the other person has already hired to sue you?? I don't think so, yours is a very similar situation. P.s. this is not legal advice ;) think I should add that just in case!

Jared Kennedy : Assistant to Sandra Dawson
0 votes Thank Flag Link Wed Jun 27, 2012
If you have not signed a contract with the realtor, you are not oblligated to use the builder's realtor. When a realtor asks for that type of information they are looking for prospective buyers and want to obtain contact information for follow-up purposes in hopes of becoming your realtor.
0 votes Thank Flag Link Tue Jun 26, 2012
Without getting into too many legalities here, if you hire an agent to work for your best interest, that is, by legal definition, a single-party brokerage arrangement and a written agreement is required for such representation.

Be very careful of the advice you get on free, public forums and seek a professional who abides by the laws and can demonstrate experience with those laws if you're truly looking to be protected from the many potential potholes that come with large financial transactions.
0 votes Thank Flag Link Mon Jun 25, 2012
You're most welcome Jonathan. Good luck and again feel free to call, text and or email me at anytime.

Have a terrific evening.

JULIE GRAY THRASH
OKC PROPERTIES
0 votes Thank Flag Link Mon Jun 25, 2012
Depending on which builder you were shown by, it is in all likelihood that he or she is what they refer to as a Community Manager. A lot of good advice here. You need an experienced Realtor to show you around and as others have said provided you have not signed a binding agreement you are good to go with hiring a Buyers agent.

I too can help you. I have over 25 years of experience in real estate. Feel free to call me or text at 405-640-6621. You may also email me if you would like at jathrash@cox net.

Best regards,

JULIE GRAY THRASH
OKC PROPERTIES
0 votes Thank Flag Link Mon Jun 25, 2012
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