Home Buying in Warren>Question Details

Buyer, Home Buyer in 07960

I have been working with a real estate agent for past ten months with nothing to show

Asked by Buyer, 07960 Tue Feb 16, 2010

He seemed intimidated by us at first, never previewed any house for us, sent any or everything with no regard to our preference, offered no advice on the first offer, botched up a second time on the offer for our dream house. In short I feel obligated to go with him as we have been working with him this long. Now another house in the neighborhood of the dream house is for sale. He scheduled a showing a couple of weeks ago which fell through as he could not get in touch with the agent. This house has an open house coming up. I spoke to the listing agent and feel we could get it at a lower price if we went with him. (double commission for him). Am I beholden to my agent or can I strike a deal with the listing agent? What are the legal repurcussions? Can my agent sue me later?

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Answers

29
Buyer - I am thinking the thread is pretty much beat, but as to my statement "Continue your due diligence and research the agent you want to use, I think after reading some stuff, you can see what to avoid."

Read.. And you will see nothing but vague innuendos. There is actually a post that one statement contradicts the statement right after it is written! Again, due diligence is the key, be smart, talk to agent and go with the agent that you feel comfortable with, it is not rocket science. That agent can be the listing agent or another agent. Do what works for you!

DKoz, you make sense. The only thing I would say is that, you can do just that and call only the listing agents, sure go for it. But in your case, you would want to look at houses with an agent such as myself. (Not that I am soliciting your business) But, I have sold numerous homes in the range of 1 million - 2 million dollars. These homes sometimes require an eye that knows what to look for in a luxury property and the negotiation that follows.

There are most definitely agents that do not like other agents and shy away from their listings.. But if a client wants to see it, then they bite the bullet and show it anyway. You pretty much go where the business is with clients; you try to know most of what is going on and learn as much as you can about areas and listings to be prepared.

Pushing clients to friend’s listings? no, not really I have some great friends in this business that I never sold one of their houses, again the business is client driven. If a friend Realtor has a great house that I want my clients to see.. I will do just that.. I’ll call a client up and say I just saw a great house and maybe they should see it … but other than that, we are pretty much client driven.

O.k.. I am out of here for good. Good Luck!
2 votes Thank Flag Link Sat Feb 20, 2010
Hi Buyer,

You can use what ever agent you choose. Listing agent or any agent, make a deal and buy your house.

I knew that post would create all that nonsense. Some agents say one thing and do something totally different, they cater the conversation to what they think you want to hear. Sorry, I do not do that.

Go get an agent other then what you had and since here in NJ we are all listing, buyer and possible dual agents.... you can go with whomever you are comfortable with. Cotinue your due diligence and research the agent you want to use, I think after reading some stuff, you can see what to avoid.
2 votes Thank Flag Link Wed Feb 17, 2010
Hi Buyer,

It sounds as though you are ready to move on. There is absolutley nothing wrong with going to the listing agent.

There are some agents here that yodel and yell "say no to dual agency" but try this.. call the agent that makes that statement on one of their listings, or call the office. IF THEY DO NOT SAY.. oh, I'm sorry you should call another company to see that listing because If I show you that house that would be dual agency and we do not work as dual agents.... hang up the phone and realize that the agent is full of baloney.

This is not rocket science, call the listing agent and make your deal. Get an attorney to represent you, have a home inspection and realize that this is a house. You are buynig a home all the facts will present themselves.

Your attorney... not your realtor, not your realtor appriaser, not your realtor friend... Your attorney will represent your legal rights on all issues of the transaction the same as the seller .
2 votes Thank Flag Link Tue Feb 16, 2010
Buyer,

I can understand why you are frustrated with your agent. I'm not sure why you stuck it out with him for this long. With that being said, if you do not have a buyers agreement with him in writing that says you are working exclusively with him for a specified amount of time than there is no reason why you should stay with him. Be that as it may, I do think you should still work with your own buyer's agent in purchasing a home. I know you've had a bad experience with the first agent but that shouldn't make you now go directly to the listing agent to buy the house. Your own agent will and shall be looking out for your best interests (old agent put aside). There is no way one person can serve two master equally so who do you think the listing agent will watch out for? The one who is paying their commission. You need your own agent looking out for your best interests.

If I remember correctly I think Jeanne Feenick of Weichert is in the Warren area. You can find her here on Trulia or follow the link to her profile below:
http://www.trulia.com/profile/jeannefeenick/

Good luck and give Jeanne a call.

Gina Chirico, Sales Associate
Prudential NJ Properties
973-715-1158 cell
973-992-6363 ext 116 office
Gina.Chirico@PrudentialNewJersey.com
2 votes Thank Flag Link Tue Feb 16, 2010
If the agent was incompetent, ditch him and use whoever you want. However, you will not save any money by going through the listing agent. He will simply collect 2 commissions, which is known as "double-dipping". And he will be representing the seller and trying to get the highest possible price for the house. Or worse, there will be a dual agency and he will attempt to represent both sides, which cannot be done ethically even though it is legal. Or he will refer you to "someone else in his brokerage", which means absolutely nothing because it will still be a dual agency and you will still have no representation in the deal.

The best course of action is to contact another agent to handle your offer and handle the transaction. But this time hire someone who is competent and experienced. You should have probably dumped the first agent right away when he failed to perform in a competent and professional manner. Be that as it may, no point in compounding the error now.

Good luck!

Marc Paolella
Relocation Director
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Web: http://www.marcpaolella.com
1 vote Thank Flag Link Tue Feb 16, 2010
Sure, if your current agent is a stiff and you don't have a contract with them, you can do whatever you want.
1 vote Thank Flag Link Tue Feb 16, 2010
Unfortunately for the last two posters this question was submitted back in February. I'm sure the buyers either fired their agent and buddied up to the double-dipping listing agent or gutted it out and bought a house with their agent. Either way, they are probably comfortably settled into a home by now....
0 votes Thank Flag Link Mon Aug 2, 2010
Buyer, have found anything? Also with everything that is available to you on the internet why do you need a Realtor? Regards,
0 votes Thank Flag Link Mon Aug 2, 2010
Hi there - since you have identified Warren as among communities of interest, I thought you would find the Market Update for Warren, Watchung and surrounding Somerset County communities of interest - just posted as a Blog entry and current as of today:
http://www.trulia.com/blog/jeanne_feenick_-_new_jersey/2010/…

Best,
Jeanne Feenick
Unwavering Commitment to Service
http://www.WarrenRealEstateAgent.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Mon Feb 22, 2010
If you didn't sign a buyers agreement then with your first agent then you are free to go another agent. It happens if the agent you're working with isn't being agressive enough to get you in the house you want. The most that will happen is that the agent may have it out with the listing agent and say he found you that house and you demand to be compensated from the lsiting agent.

I have never heard of an agent suing a buyer because they went with another agent, ridiculous. The fact is, to hang on to a great buyer the agent has to put forth more effort to findng a home and representing the buyer in the deal.

Rhonda Holt
Full Time Top Sales Agent
Specializing In Co-ops and Home Sales
Weichert Realtors, H.P Greenfield
1712 Utica Avenue,
Brooklyn, New York
Cell: 646-725-5941
My Site: http://www.RhondaHolt.com
Email: HelpMeRhonda1919@Yahoo.com

*JOIN ME ON TWITTER.COM AT: http://www.twitter.com/helpmerhonda09
Web Reference: http://www.KandHhomes.com
0 votes Thank Flag Link Sat Feb 20, 2010
Good advice from Marc - focus on finding a great agent to assist you - who understands that her mission is to help you negotiate the very best price - she will understand that managing information flow and handling the tactical elements for the benefit of her client are all part of her job - if she doesn't, find a new agent.

It is always wise to hold your cards close to your vest in a negotiation - and Marc's advice reminds you of that. But bottom line, the driver is price - and you will be best served if you work with an agent that knows the market and inventory cold - and has the analytic know how to interpret data and trends to guide and support thte bidding process.

Buyers who focus on tinkering with commission as their big win loose sight of the value of a great buyer's agent and often pay more - not less - than they should.

Best,
Jeanne Feenick
Unwavering Commitment to Service
http://www.WarrenRealEstateAgent.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Sat Feb 20, 2010
Thanks Marc, luckily we have family in the area and will be staying with them if and when we move and will not have a time frame, we can be patient, and will be patient, but that is excellent advice. Husband will be there before the rest of us so he can preview stuff. We will be in no rush!
0 votes Thank Flag Link Sat Feb 20, 2010
Oh yes, here's a free tip Dkoz. This tip alone will probably save you more than your hoped-for commission slash: Do not disclose to any listing agent that you are transferring in. If you do, guess what? You just lost thousands of dollars in negotiating power. Transferees almost always have a timeframe, and in a real estate negotiation: timeframe=compromised position. If you walk into my listing and let on that you are transferring in from sunny California, I will instruct my seller to be extra tough with you during the neotiations and again during the home inspection negotiation. You don't have the time to wait us out so we are going to be far less forthright in coming down too far or too fast from our asking price, and when it's time to negotiate home inspection repairs, we pretty much aren't doing any. So remember to say nothing during your home shopping trips. The listing agent is your enemy, treat them as such or it will cost you money. The friendly questions they are asking you about you life and family? THEY'RE NOT!

-Marc

Marc Paolella
Relocation Director/Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Web: http://www.marcpaolella.com
0 votes Thank Flag Link Sat Feb 20, 2010
DKOz, I was going to answer one of your points but Marc beat me to it and did a better job. He is correct here.

>>>Next, it is in my interest as a buyer's agent to have you pay as little as possible for your home, not as much as possible. Why? Because I could care less how much I make on any given home. My business depends on you being amazed with my service and expertise so that you will refer to me family, friends, and colleagues in the future. Do you honestly think I would have you pay $1,700,000 rather than $1,400,000 to collect the extra commission on the difference? Absolutely not. For me it is a matter of pride to get the lowest possible price for my buyers. I will make ten times the puny lost amount in the lower sale price by getting 5 new clients to work with through your referrals, and referrals of referrals.
0 votes Thank Flag Link Sat Feb 20, 2010
Hi Dkoz,

It sounds like a contradiction, but it is not for an agent like me. Since I appraise homes in those areas, but do not list them, I'm a natural if at some point you decide you want a buyer's agent. You get the benefit of 25+ years of appraisal experience, a great buyer's agent, and no chance of dual agency or getting pushed to a listing.

That's fine if you do not want that also. I understand that some people just want to do it on their own and just like it that way. I am one of those people! Keep in mind that my post is meant for everyone, so someone else might see this as a benefit to their situation.

Now, as far as double dipping and reduction. Although it is not impossible to find an agent who will give you a piece of their commission in a dual agency, the vast majority of agents will not rebate their commission to make a deal happen. It does happen occasionally, but I would not count on saving very much by attempting to find this. Especially not in the areas you are looking. Any by the way. You are at risk to lose any amount you save by overpaying for the home in the first place. I can tell you this. You could be the most intelligent analytical mind the world has ever known, but there is data you will not have when you go it alone. For example, let's say you find a comparable sale to utilize as an indicator of an appropriate offer on a home you like. You are not going to be able to determine what went into that price from the outside. What if the purchase price included personal property? You won't know that. What if the seller was in a financial bind and sold at an artificially low price? You won't know that. What was the interior of the house like, what was upgraded, what was old and tired, what was broken? You won't know that. Was the owner divorcing? You won't know that. What if you calculate a price per square foot based on the square footage figure you get from the town? Did you know that the square footages contained at the tax assessor are almost always wrong, and often very wrong? Your entire calculation is now meaningless if this is the case. What if the seller made improvements without notifying the tax assessor? You will now be comparing apples with oranges. What about private sales that do not take place through the MLS? How do get the data on those homes. There are really thousands of things about a sale that will not show up in ordinary research without access to data sources that a buyer's agent and appraiser have at their disposal. You want to save $8,000 by having an agent cut their commission to make a deal happen? Even if you can find a loser of an agent to do it, you'll lose way more than that from not having a full and accurate data set to make your decision.

Next, it is in my interest as a buyer's agent to have you pay as little as possible for your home, not as much as possible. Why? Because I could care less how much I make on any given home. My business depends on you being amazed with my service and expertise so that you will refer to me family, friends, and colleagues in the future. Do you honestly think I would have you pay $1,700,000 rather than $1,400,000 to collect the extra commission on the difference? Absolutely not. For me it is a matter of pride to get the lowest possible price for my buyers. I will make ten times the puny lost amount in the lower sale price by getting 5 new clients to work with through your referrals, and referrals of referrals.

In any case, I hope you get the transfer. You will love living out here! if you decide to go it alone but run into a situation where you need a question answered, drop me a line. Or if you are pre-shopping right now on the Internet and are curious about something, drop me a line.

Good luck!

-Marc

Marc Paolella
Relocation Director/Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Web: http://www.marcpaolella.com
0 votes Thank Flag Link Sat Feb 20, 2010
Marc,
I appreciate your input. However, you seem to contradict yourself with points 1 and 3...one says only an experienced agent can give you a true appraisal of value, but 3 says one should work with an agent from outside the area so no conflict can arise. If you are from a totally different area, you will not have any additional insight into a value of a neighborhood such as Warren.

Yes, a listing agent can "double dip" the commission, or take some of the commission down if it's of an amount that could help the deal get done, or where buyer and seller are close but not willing to budge. Their choice would be to either make the deal happen whatever cut they have to take, or lose a sale completely. If I had a buyers agent, that agent would get paid if I was buying a house no matter what house I buy, and it would be in their interest to get me to pay as much as possible so as to increase their commission.

Additionally, we are not as emotional about a house as most folks...it is business, yes, and in the 1.2-1.5 range we are looking, there are plenty of options. As a cash buyer who doesn't need a "hard to get" jumbo loan that may or may not get approved by a lender, we are attractive to sellers who can know that the property will get closed and they can go about their plans. It would be different if we were in the lower range. We could go with new construction, or resale...for us we are about a good deal. We can look up comps, price per square foot, etc., as well as speak to neighbors. We will have "favorites", and that will factor into our offer. We plan to put in multiple offers on multiple properties that we could envision living in with our family. So, Warren/Watchung/Basking Ridge listing agents, start gathering your homes to show us! We should know in about a week or so if the move to NJ will happen. We will be in touch! :-)
0 votes Thank Flag Link Sat Feb 20, 2010
Let me keep this simple.
If no contract was signed, you can do what you want.
If you found the house that works, you can make the offer directly to the listing agent.
You may want to have a real estate attorney represent you, so you don't get into a mess. It will cost you a little up front but a good attorney can save you money and negotiate well on your behalf.
If you are going to keep looking, your time will be better managed if you find a competent buyer's agent.
Happy hunting and good luck.
0 votes Thank Flag Link Sat Feb 20, 2010
DKoz,

You could certainly do that. But you are missing out on a few advantages:

1) A good buyer's agent who really knows their stuff will be able to tell you what the house is really worth. As a buyer, you do not have access to the data and the expertise to know the value of the house you are looking at. No matter how experienced you are as a buyer, there are details about the homes sales in an area that you will not know about from just looking at the selling price and closing date. Seller motivation, interior condition, quality of finish, functional utility, locational obsolescence, etc. Your buyer's agent (if they are good) will provide insight to all of that for each sale that compares with the home you are considering as a purchase. An agent who is also an appraiser gives you a very large edge in this department because you are working with someone who is familiar with value in a wide range of areas.

2) As far as buyer agents pushing you to their offices listing? Won't happen with a buyer's agent who does not do dual agency. There are certain agents (like myself) who will not do a dual agency. I consider it unethical for an agent to represent both sides of a transaction, so I would never push anyone to my company's listings or to any other home for that matter.

3) Also, you are best off with an agent whose company does not have listings in the areas you are shopping in. That way, the fear of being pushed to office listings is completely gone.

4) You really cannot work listing agents against each other because they are not selling the same product. If you came into one of my listings and said something like: "Well I have it down to 3 homes, your listing and the ones on Maple St and Elm St, so I really want to make the best deal. What can you do for me?" I would simply tell you to pick the house you like best and make your best offer. I wouldn't really care all that much about "nailing you down" to my sellers house. Why? I know you have a favorite house and that is the one you are going to really pursue. Plus you are not the only buyer out there. If you don't buy my seller's home, someone else will. So I think you might be overestimating this aspect of working without an agent.

5) Politics. Most agents do not love or hate any other agents or have agendas about pushing clients this way or that. We only want to make the deal at hand and move on. I think you might be overestimating this factor. We really don't give other agents all that much thought. I can tell you that of the hundreds of agents I know, nobody really cares all that much (aside from water cooler gossip) about any other agent. We really are only concentrating on our own deals and our own problems.

6) When you are ready to look, give me a call! I work in all the areas you mentioned, have the geographical competence to evaluate any and all properties you might be interested in, do not have any listings in those areas, and would love to represent you.

Good luck!

-Marc

Marc Paolella
Relocation Director/Licensed Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Web: http://www.marcpaolella.com
0 votes Thank Flag Link Sat Feb 20, 2010
Marc is right on the money, listen what he is saying and really understand the pitfalls of dual agency. I don't care what other brokers of buyers have said here: NEVER use the listing agent, you will be sorry.

I'm not saying use/don't use your current agent. But GET YOUR OWN AGENT.

" Even if you have a buyers agent, what keeps them from gently pushing you to their offices listings, or even their friends listings, or away from listings of agents they hate?"

Hopefully they won't, but still a better scenario than working directly with the seller's agent.
0 votes Thank Flag Link Sat Feb 20, 2010
What if you are an experienced home buyer? We always do our own searches on the web, preview where the listings are, and pick the houses we want to look at. I would like to just use the listing agents, and put them in comp with each other. If we have more than one house we like, with more than one agent, and they are aware of that, then they need to work hard to get their best deal out of their seller, or no sale. We would hire our own independent inspectors. What is wrong with this? We will possibly be out there in a few months with cash to pay for a million plus house...this is our plan. Plus we are not married to Warren...would look in Basking Ridge, Bedminster, Far Hills, Peapack and maybe even Chester. Even if you have a buyers agent, what keeps them from gently pushing you to their offices listings, or even their friends listings, or away from listings of agents they hate?
0 votes Thank Flag Link Sat Feb 20, 2010
Hi there Buyer - I am sorry to hear that you have run into some road blocks. If you are disappointed with your experience with your agent, then you can certainly make a change. But I wouldn't race into the "deal exclusively with the listing agent" club. More likely than you getting a better deal is the seller realizing more or the agent pocketing more from the sale - far less likely to benefit you. So my suggestion, if you are not happy with your buyer's agent, find another. And go get that dream house, and act decisively if you love it. I'm seeing a crazy dichotomy of circumstances - phones barely ringing at the office but well priced homes moving fast, some with multiple offers.

Good luck to you!
Best,
Jeanne Feenick
Unwavering Commitment to Service
Search the MLS at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Wed Feb 17, 2010
You will not save any money by buying through the listing agent. he/she of course will be thrilled to collect a double commission. You will lose your individual representation as the one agent will now be representing both sides of the transaction as a disclosed dual agent. In my opinion, that's a negative for you because you will get less information and advice than you might otherwise have received. You are free to use any agent you wish in this situation. Even if you signed an agency agreement with your current agent (which you probably did when the first offer was made), you can cancel it with 3 days written notice to that agent. At that point pick yourself a new agent - preferably one who is going to represent you properly.

Let me know if you would like any additional information.
Nicholas Welsh - (908) 295-5129
Web Reference: http://www.nickwelsh.pro
0 votes Thank Flag Link Wed Feb 17, 2010
Now let's go back to the 10 goals of the listing agent that I described in the last post. What happens to those goals now that dual agency has arrived? Do you think that they all magically disappear? Do you think that the listing agent, by virtue of dual agency, simply forgets about everything he was supposed to do for the seller? And he now becomes this stoic pencil pusher who leaves everything to the attorneys and treats everyone "fairly"? Maybe on Real Estate Fantasy Island that's what happens. But in New Jersey? No. No way. A seller's agent is a seller's agent. When a buyer negotiates with the seller's now "dual" agent, the dual agent becomes an ostensible "impartial" agent who has to keep tripping over himself trying to figure out how to do the job he was originally hired to do, for the seller, without getting caught up in the ethical minefield.

Need a further example: Back to the Fockers open house:

The innocent buyer consents to dual agency:

Buyer: OK. Let's do this deal. How much do you think I should offer? I really need a good price to afford this house as it's a little out of my range.

And the listing agent says what? What CAN he say without screwing the seller? See how loaded this question is? And this is only the FIRST of HUNDREDS of questions that will involve walking a tightrope to avoid advocating for either side. It is unfair to the seller. It is unfair to the buyer. It is implicitly unfair to the whole principle of a negotiated transaction. In fact, it is an ethical impossibility.

So, back to the original question.

It is a TERRIBLE idea for a buyer to go to the listing agent and attempt to do a deal. Why put yourself into an impossible situation when it is just as easy to retain your own agent who will represent you, and most importantly ADVOCATE FOR YOU with respect to time, terms, money, conditions, everything!

No, avoid this. It's just a bad idea and completely unnecessary.

Finally: Google "dual agency" and do your own research. Learn why many states have made it illegal. If it was all peachy, states would not pass laws to eliminate it, right?

-Marc

Marc Paolella
Relocation Director
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Web: http://www.marcpaolella.com
0 votes Thank Flag Link Tue Feb 16, 2010
BAD ADVICE ALERT:

"There is absolutley (sp) nothing wrong with going to the listing agent."

There is EVERYTHING WRONG with going to the listing agent.

1) The listing agent is working for the owner of the listing. Hence the term "listing" agent. Let's review a few goals of the listing agent:

a) Get the highest possible price for the home.
b) Present the home in its best possible light. Within reason and without flagrant misleading: making the house seem bigger, better, and brighter than the competition. Minimizing its flaws. Maximizing its benefits.
c) Protecting the confidence of the seller. Not letting buyers know anything that might lead them to conclude that there is desperation or strong motivation that would lead to a successful lower offer.
d) Getting the best possible terms for the seller.
e) Getting the best possible timing for the seller with respect to closing date and other deadlines in the contract.
f) Negotiating the home inspection and trying to make sure the seller has to do AS LITTLE AS POSSIBLE when the home inspection shows problems or necessary repairs.
g) Fiduciary duty to maximize anything in the deal that brings the seller more money, less time, and less problems.
h) Help select the best offer if there are multiple offers. What is the best offer? The highest dollars, the best terms, the highest probability of closing. The most advantages to the seller, the least advantages to the buyer.
i) Negotiating the highest possible amount for the second down payment that is due 10 days after attorney review is complete. Why? So the buyer has as much tied up as possible and will be less likely to jettison the deal should difficulties arise.
j) Keeping the buyers "in line" and controlling the buyer's agent to the greatest degree possible.

I could go on and on, but are we seeing any pattern here with respect to the listing agent? From the listing agent's perspective, IT'S ALL ABOUT THE SELLER.

OK, now let's move on to something even bigger: human nature.

Let's look at the listing presentation. Meet the Fockers: A sweet family of 4 who have decided to sell their home and move up to something bigger and better. The Fockers have decided to interview some agents. One of these agents will get a nice listing and maybe, just maybe, a buyer's agency as well for the Focker's new digs.

A fly on the wall heard this:

Mr Focker: So honey, I checked out several agents on the Internet and will invite them to give listing presentations.
Mrs Focker: Me too. Who did you pick?
Mr Focker: Weichert and Caldwell Banker. How about you?
Mrs Focker: Century 21 and Re/Max. And that's COLDwell Banker hon, not CALDwell.
Mr Focker: Really? Oh... Yeah and I was also going to invite this independent agency also, but their website was absolutely awful. I tried to do a listing search and their website dumped me on to the MLS's website. If they couldn't afford an IDX feed, I didn't think I should interview them. But I digress...

Scene...

Each of our agents spends 2 hours with the sellers going over the market, the marketing, the strategy, the staging, and the new home search. Our agents also meet the kids and get a nice warm and fuzzy feeling. Sort of a vicarious thrill of sharing the move-up experience with this family. This is going to be fun! Selling one home and finding another, so exciting.

Well, much like American Idol, there is only one winner in this competition. And the Fockers call Century 21 (I know, but you write your script and you can win) and give the agent the good news. Now there is an intense period of planning, preparation, cleaning, painting, decluttering, photography, designing websites for this great little house, and many other reasons for the agent to come over to the house and visit and strategize with the seller. Also, of course, many personal details of the seller become known to the agent, and an affection, a camaraderie, and a trust begin to develop.

Fast forward: The preparations are complete. The house is on the market. And it's Sunday and time for an open house. A buyer without an agent walks in, looks the house over and decides to make an offer. The listing agent (not me) explains the law on dual agency and goes over the consent that is required and the buyer agrees to move forward.

Now what do you think, in the real world, happened with the loyalty, affection, and trust that has grown over time between the listing agent and the seller. Well I will tell you: Nothing. In the real world, despite the fact that the listing agent is supposed to "step back" from advocacy and just deal "honestly and ethically" with both sides, IT WON'T HAPPEN. The listing agent will still tend to favor the seller because that's just human nature. The sellers and the listing agent have become temporal friends and you the buyer are a total stranger. You are NOT going to get equitable and fair treatment as a buyer from a listing agent.

Continued...
0 votes Thank Flag Link Tue Feb 16, 2010
Hi Buyer! I am probably one big echo, but let me make one thing very clear...You are the customer and you are always right! Period.

Obviously, your current agent may have some legal basis for commission should you go with the listing agent. Absolutely, if you have that darned Buyer Broker agreement signed. You are going to be in a legal wrangle.

which is principally important,but financial stupidity.

I wrote a great article on exclusive agent agreements that I will attach.

Ahhh! Dual agency is good for buyers with good agents bad for buyers with bad agents. Period! ...and the same, respectively, for sellers and listing agents.

Personally, I have not had any issues with dual agency.

You can just make sure the agent's E.O. insurance is current for the period of escrow. BIG TIP!

Let's say none of the above is true. Talk to your agent...he may be willing to take a smaller commission, yet still provide some great negotiating advice.

Take a minute to read my short article attached. It may shed some light and give you some better moral guidance. (not that you need it) 8^)

Michael Roberts
http://losgatoshomesandrealestateblog
0 votes Thank Flag Link Tue Feb 16, 2010
Do you have a buyers agreement? If yes you need review those terms of the agreement.

If agent not been involved with procuring home of interest, with no executed buyers rep agreement, from your authored statements you probably could work with other agent .

HOWEVER never recommend to work with listing agent but secure your agent represent you.

Example: Would you go to trial use same attorney as the opposing party? Probably not

Lynn911
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue Feb 16, 2010
You owe nothing to your current agent, as long as they didn't introduce this new home to you, you should be fine. Each client and agent has their own 'flavor', and it sounds like you two just didn't click. There's nothing wrong with cutting those ties and moving on, unless as has been noted, you signed an exclusive contract with that agent, which is very uncommon. Its part of what we do, and think every agent deals with this more then once. I would HIGHLY recommend you having an agent represent you on this new deal that is not also the sellers agent. It's very hard to represent both sides and be looking out for the best interests of both clients. If there is anything I can do for you, as an agent here in Somerset County, please be sure to let me know.

-Bucky

Howard "Bucky" Buchanan
Weichert Realtors, Clinton
Mobile: 908-566-5547
Office: 908-735-2552 x208
eFax: 908-847-0239
Web Reference: http://buckybuchanan.net
0 votes Thank Flag Link Tue Feb 16, 2010
Unless you have a signed agreement with your agent you are free to use whoever you wish--however, do keep in mind, the listing agent represents the seller-- why are you assuming you will get a better deal by going with that agent--his/her job is to acquire top dollar for the seller, and why would you not want an agent of your own to look out for your best interest. You mentioned that you believed that your agent was intimidated by you--I wonder what conversations took place if any, so to establish your wants and needs.
0 votes Thank Flag Link Tue Feb 16, 2010
I've never heard of an agent suing a former client. Did you sign a Buyer Agency agreement with the first agent? Perhaps you could write a letter to the first agent and his broker of record stating that you no longer wish to work with him and are going with another agent. If a Buyer Agency was signed state that you wish to dissolve the relationship. Good Luck.
0 votes Thank Flag Link Tue Feb 16, 2010
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