I am a first time buyer and in the process of looking to make my purchase within next 3-4 months. Can I work?

Vr
Home Buyer
Mountain View, CA

with multiple buyer's agents simultaneously? Do I have to sign an agreement with buyer's agent?

Answers (6)
Nina Daruwalla
Agent
Cupertino, CA

Hi Vr,
You do not HAVE TO sign an agreement with an agent, but it would be good of you to work with only one agent at a time. The agent you choose to work with is committing their time and effort and working hard to find you the property that fits your needs. It would be a good thing for you to make a commitment to them to stick with them.
Unless the agent is not a good fit for you, and you feel they are not doing whats needed to help you find a home, then you can end the relationship and move on to finding another agent who you feel comfortable with.
Understand, any realtor you work with gets paid only at close of the transaction. If one has spent a lot of time, energy and commitment to showing you and finding you a home, then you go buy one with another agent, they have lost that time and effort they have put in for you, instead of helping someone who will really appreciate their hard work and stick with them.
My philosophy of work is,"Take care of the people, the transactions will happen". I mostly work "By referral" from past clients and friends who have had a good experience in the Home Sale or Purchase of their property........its a good way to go!
Take care and have a great home buying experience!
Nina Daruwalla

Mon Jul 13 2009, 12:21
Marcy Moyer
Agent
Menlo Park, CA

Vr,
Although many agents in this area do not ask you to sign an exclusive buyer/broker agreement, they will ask you to only use one agent. We all have access to the same information and can show you the same properties. Most experienced agents will work very hard for for you, but will expect that in agreeing to work as hard and honestly as possible, you will agree to use that one person as your agent. However, that does not mean you are bound forever to that agent. If during the search process it does not work out, you can always leave that one agent and go to another.
Marcy

Mon Jul 13 2009, 07:30
Keith Sorem
Agent
Glendale, CA

V
In California there are different types of Buyer Broker Representation Agreements. In the agreement you need to state the target property, including geographic area, price range, etc.

The ONLY reason I would consider working with a buyer who wanted to work with multiple Realtors was if they were looking at two entirely different geographic areas - such as a vacation cabin in the Sierras and a Condo in Mountain View.

IF the ONLY reason they wanted to work with multiple Realtors is to "get the best deal", then it would not be worth my time.

You need to talk with a couple Realtors and mutually agree to work together with ONE.

Mon Jul 13 2009, 07:07
Bill Eckler-Flo...
Agent
Venice, FL

Vr,

Your plan to work with multiple agents may be a good one especially if you are going to be considering homes in a broad area. One of the benefits of working with an agent is their familiarity with the local market.

We have two recommendations relative to this arrangement. First be upfront with the agents and make them aware of the specific area you will be expecting each to focus on. This will hopefully avoid confusion and other issues.

Secondly, DO NOT sign an agreement that gives an agent exclusitivity......this could become a big problem with your current plans.

Best wishes,
The Eckler team

Mon Jul 13 2009, 04:11
Patti Ann Kasper...
Agent
Minneapolis, MN

Interview several agents and see what they can do for you. Then choose one you like and hire them. If things don't work out, you can also let them go.

This way you have a clear understanding of who represents you and in many states, you cannot be represented by multiple agents at the same time, just as you would not hire several law firms to represent you at the same time for the same issue.

If you want a Realtor to be committed to you and to represent you. Hire one and sign a contract, just make sure you understand what you are signing and under what conditions you can recind the contract.

Buying a home is a substantial committment. You are going to have to sign many agreements and you will need someone to guide you through the process, especially for your first time.

I don't recommend this for first time home buyers, but you do have the right to look for a home on your own and once you find one, have the Listing Agent write up the Purchase Agreement for you. Just remember, a Listing Agent represents the Seller's best interest and NOT your best interest. So it is kind of like playing poker. You don't want to give away your secrets to the opposition.

Mon Jul 13 2009, 01:57
Wilma Lee
Agent
San Mateo County, CA
FIRST ANSWER

The best thing is to find one agent that you are comfortable with so you it makes your life easier too than to talk to a number of agents. You do not need to sign an agreement with a buyer's agent. I offer free reports on areas of interest. Contact me via my website if you are interested. Thanks!

Mon Jul 13 2009, 00:55

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