In my opinion you should find an agent that you can trust and enjoy working with and sign an Exclusive Buyer's Agency Contract with them to protect yourself. This contract makes sure the agent is working in your best interest. You should never assume you have a relationship with an agent until you are under contract with them. You want an agent on your side throughout the transaction and beyond.
Best of luck with your home search! And if you'd like to know what services I offer my Buyers feel free to email or call me.
Here are a couple of testimonials from my Buyers...
Krista recently helped us find a great home in the Downingtown/Exton area. She was extremely knowledgeable and had many insights about the area that helped with our search. She took the time to understand our requirements and suggested a community that we fell in love with. When there were no houses available that met our needs, she volunteered to write letters to the neighborhood asking that anyone considering putting their house up for sale to contact her. That resulted in several great responses from homes that were not even on the market, one of which we ultimately bought and love! I would highly recommend Krista to anyone looking for a realtor.
We were quite grateful for the help that
we received from you at the time; also, for someone
moving from out of state to this region, it was
Reassuring to get help from someone who understood our
requirements, had a good knowledge of the area, and
patiently answered our questions. ...if someone we know is on the lookout for a
house, we will surely recommend you
Krista Fuchs, Realtor
Prudential Fox & Roach Realtors - Exton
Without getting into a long discussion filled with mumbo-jumbo about agency relationships, an agent is not entitled to a *commission* unless that agent was the procuring cause of the transaction. Simply sending you MLS listings probably would not qualify as procuring cause. The agent would probably have to exert a little more effort on your behalf to qualify as the procuring cause. An agent who is the procuring cause of the transaction and has the cooperative broker agreements in place will likely earn the commission whether there is a buyer agency agreement or not.
So, why would you sign a Buyer Agency Agreement? Because it is an agreement between you and the real estate licensee that the licensee is accountable to you for the fiduciary responsibilities of obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care. I like to include a value proposition to my clients that spells out exactly what services they will receive from me. It is my interpretation of reasonable care. In return the agent will be paid a *fee*, usually which is paid completely or partially in form of a commission by a cooperating brokers agreement with the listing broker.
Without a buyer agency agreement, there is no guarantee that your agent will deliver on those fiduciary duties and little recourse if he doesn't. Many believe that the buyer agency agreement protects the agent. It, in fact, protects the consumer more than the agent. The agent that is the procuring cause and has a valid co-op broker agreement with the listing agent will get paid a commission whether you have the agreement or not. You have no guarantee that the agent is working in your best interest if you don't have one.
So, find someone you think will do a good job for you, have him explain the buyer agency agreement so you thoroughly understand it, negotiate the terms, and then sign it. It is in *YOUR* best interest.
Clear as mud, right?
I really hope that helps. I wish you the best of luck.
RE/Max Professional Realty, Inc.
Exton, PA 19341
Office: (610) 363-8444
Since you have no buyer agreement in place, it is my understanding that you do not have to use that agent if you find them difficult to work with. Since you are the one who found three of the listings - they can not claim procurring cause because all they did was simply send you information about the properties.
There are lots of good agents in the Exton area that will be glad to help you, including me! Please don't feel pressured into using an agent that doesn't make you feel comfortable.
Some agents sill work from the philosophy of Procuring Cause. That is what was used to determine who gets the commission before Buyer Agency was invented and implemented. Procuring cause is confusing to me because some Realtors still live by those old standards even though there is now a BUYER AGENCY CONTRACT.
Procuring Cause (in my own words): if Realtor A played a role in bringing a property or properties to your awareness, if Realtor A was the first domino in the line that tipped all of the other dominos (thought the visual would help) that lead to the purchase of that home, even if you asked them to show it to you, then they would be entitled to a commission.
There are so many weaknesses in that model don't you think?
In my humble opinion that agent is not accurate. The majority of us use Buyer Agency Contracts to get it in writing signed by the consumer. Procuring Cause should be left behind, and obviously for you, so should that Realtor you are dealing with.
I like the idea below of discussing it with her Broker. Let's see what she or he thinks of her threat.
if that is the type of agent you want, let me know. I promise I won't make you sign anything until I have earned your trust and you are comfortable and confident in my abilities.
For more info on me and my team, please visit http://www.TheChrisAndCalebTeam.com, especially the buyer testimonies - http://thechrisandcalebteam.com/about/testimonials/