Home Buying in Austin>Question Details

LopezBC, Home Buyer in Austin, TX

How can I find out if I can drop my Realtor? And I don't understand the Broker Mortgage clause in the purchasing agreement.

Asked by LopezBC, Austin, TX Mon Aug 20, 2012

I'm a total newbie to home purchasing.
Back in April a Realtor took me to a builder, and we decided to build a home. But I have not heard from my Realtor since March.
I finally spoke with him in July and he was suppose to return my call. Because we were full of questions and totally annoyed since we felt we were completely uninformed on the whole purchasing process.
A purchasing agreement was signed and we are currently building the home, but the Realtor still has not returned our call.
In the purchasing agreement there is a Broker Mortgage clause, but I am unclear if I can simply fire him and retain a new Realtor that can actually help me.

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Answers

13
It seems we are a bit vague in providing a good, solid answer for you. This is touchy. Without viewing the actual document, we are unable to help with the proper response. Did you sign a contract with the agent and you understand you are a buyer client or did you assume so? You certainly should be communicating with the REALTOR. If they have a broker, you should speak with them and express your concerns. If you are under buyer agency, the broker could assign another agent to represent you. It may be a misunderstanding in that once the contract has been created and option period passes or understanding that things are proceeding in the proper time period, the agent takes a backseat and the lender or builder takes the lead. There isn't a lot we as REALTORs will be able to do except follow along and confirm that we are progressing as expected. Maybe your REALTOR became too lax in that area and having a conversation over feeling abandoned would rectify the situation. You could chat with the Austin Board of REALTOR and they, too, can give you assistance. We are obligated to provide you due diligence. We should also earn our biscuits and sitting back waiting for the money train to arrive doesn't seem very fair. Hopefully, it's a misunderstanding. Lastly, speaking with a real estate attorney wouldn't be a bad idea if you still feel like you're receiving little to no help to your questions.

Best to you!

Laura McMillan
AVALAR AUSTIN
ABR, ASP, CLHMS, CRS, ePRO, GRI, SRS
512.903.5268
laura@avalaraustin.com
1 vote Thank Flag Link Mon Aug 20, 2012
In Northeast OH, the Realtor earns a commission by just giving the clients' names to the Builder. The commission is paid to the Realtor when the home is built and is transferred to the Buyers. However, my partner (& husband) and I stay with our Buyers throughout the process until the home is done and transferred to the Buyers. And, we make sure our Buyers have a professional home inspection to determine if changes and/or repairs need to be resolved before the home is transferred. I suggest that you contact your Realtor, again, and ask him/her to continue providing services to you, as you need assistance. If that doesn't work, contact the Broker and ask him/her to have a discussion with the Realtor regarding your need for his/her services.
0 votes Thank Flag Link Mon Aug 20, 2012
Please clarify the statement, "Back in April a Realtor took me to a builder, and we decided to build a home. But I have not heard from my Realtor since March". Are there two (2) different realtors? One, who took you to the builder and the other you refer to as "my realtor"?

Generally, the new home construction purchase agreement has a paragraph that excludes paying a commission to a realtor and an addendum must be executed if you have a realtor who is to be paid by the builder. Do you have an addendum that contracts the builder to pay a realtor? If yes, is the realtor named in the adddendum the one whom you refer to as "my realtor" and who does not return your calls?
0 votes Thank Flag Link Mon Aug 20, 2012
Opps sorry..Realtor took us out to the builders in March...we had not heard from him since April. 2nd question is were things get iffy. The contract has changed a few times since we March. The original address changed, bc the one we chose was sold, and the address on all the original documents was not spelled correctly. The Realtor did sign the 1st version, but on the new fully executed purchase agreements I have, the Realtor signature is missing on the co-broker line.
Flag Mon Aug 20, 2012
You say your agent brought you by the builders office in April and you have not heard from him since march?

Wondering how that's possible..
0 votes Thank Flag Link Mon Aug 20, 2012
Opps sorry..Realtor took us out to the builders in March...we had not heard from him since April.
2nd question is were things get iffy. The contract has changed a few times since we March.
The original address changed, bc the one we chose was sold, and the address on all the original documents was not spelled correctly.
The Realtor did sign the 1st version, but on the new fully executed purchase agreements I have, the Realtor signature is missing on the co-broker line.
Flag Mon Aug 20, 2012
Opps sorry..Realtor took us out to the builders in March...we had not heard from him since April.
2nd question is were things get iffy. The contract has changed a few times since we March.
The original address changed, bc the one we chose was sold, and the address on all the original documents was not spelled correctly.
The Realtor did sign the 1st version, but on the new fully executed purchase agreements I have, the Realtor signature is missing on the co-broker line.
Flag Mon Aug 20, 2012
Contact the agent's broker. If you don't know how to find the broker, go to the TREC website (trec.state.tx.us or Google TREC) and enter the last name, first name in the box at the top-middle of the screen. Or call TREC.

Sorry to read about this, good luck!
0 votes Thank Flag Link Mon Aug 20, 2012
The home you are building, is that the one the realtor took you too?
0 votes Thank Flag Link Mon Aug 20, 2012
Yes it is.
Flag Mon Aug 20, 2012
The home your building is that the one the realtor took you too?
0 votes Thank Flag Link Mon Aug 20, 2012
I agree - contact the agent's broker. Unless the agent is the broker - you may want to look into contacting TREC.
0 votes Thank Flag Link Mon Aug 20, 2012
This is one of the reasons it is so important to find a great agent from the beginning.

If your Realtor isn't answering your calls, you have a couple of options: Maybe try calling his broker (the company they work for, like ReMax, or Keller Williams, or some other agency), and asking them for help, or you can also contact the Austin Board of Realtors, and talk with them.

As for the details of your contract, I cannot comment on that at all, as I am not a lawyer or involved party.

Feel free to contact me if you want, but I really don't have more info than this.

Eric
0 votes Thank Flag Link Mon Aug 20, 2012
Sorry read this RECOMMEND contact their your Realtor Broker direct. You are stating "Broker mortgage clause" I would assume that clause meant your mortgage broker NOT a real estate agent.

Everything is govenered by the executed agreements you have signed

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

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0 votes Thank Flag Link Mon Aug 20, 2012
Unfortunately, once a purchase contract has been signed and your broker's name is showing as the buyer's agent, there isn't much you can do. The Realtor brought you to that builder and the builder has agreed to pay a fee to that broker a fee which is shown in the contract. So, the answer to your question is no, you cannot drop your Realtor for this particular home purchase.

Have you signed a representation agreement? If you haven't, the Realtor is really not representing you and has no obligation to answer your questions (though he/she should morally have that obligation). If you have signed an agreement and you feel that the Realtor has not served your best interest and has not given you advice and has not represented you in this transaction, you can always file a complaint with TREC.
0 votes Thank Flag Link Mon Aug 20, 2012
I suggest you contact your Realtor's broker.
0 votes Thank Flag Link Mon Aug 20, 2012
Call the agents Broker.

Best of luck .. Bruce
0 votes Thank Flag Link Mon Aug 20, 2012
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