Home Buying in 80922>Question Details

Donna, Home Buyer in Piscataway, NJ

I looked at a house that was a FISBO. I called the owner to find he had gone with a realtor this past week. Can we can work without the realtor?

Asked by Donna, Piscataway, NJ Sat Jan 19, 2013

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15
Essentially, what this means to you as the buyer is that the seller has agreed by contract to use a specific agency to list and pay for professional fees associated with selling the property. Yes, this includes anyone you wish to use to specifically help you with your purchase.

We highly recommend that all buyers have their own representation, avoiding the use of the seller's agent for their personal services.

Good luck,

Bill
2 votes Thank Flag Link Sun Jan 20, 2013
I would use a realtor, I would really use a realtor.
1 vote Thank Flag Link Sun Jan 20, 2013
Hi Donna

First off it's important to note that Real Estate Licensees in Colorado are prohibited from providing legal advice unless they are also an Attorney and there is a difference between a Realtor, who is a member of the National Association of Realtors...bound by the Realtor Code of Ethics...and someone who is just a Real Estate License holder.

Since this question was asked in Colorado Springs Zip Code 80922, I'm assuming that this is a Colorado Broker and a Colorado Real Estate Transaction which would fall under the auspices of the Colorado Real Estate Commission. If it is, all Colorado Real Estate License holders who are not also an attorney or a builder with attorney drafted contracts must use the standard state contract forms promulgated by the Colorado Real Estate Commission.
I would recommend that you find out if the seller and broker in question have entered into an exclusive agreement and/or if the seller has retained the right continue negotiations with any party they had already been working with.

According to the Colorado EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT (LC50-9-12) (Mandatory 1-2013) Available at http://www.dora.state.co.us/real-estate/index.htm under Forms & Contracts:
10.1. Negotiations and Communication. Seller agrees to conduct all negotiations for the Sale of the Property only through Broker, and to refer to Broker all communications received in any form from real estate brokers, prospective buyers, tenants or any other source during the Listing Period of this Seller Listing Contract.
10.2. Advertising. Seller agrees that any advertising of the Property by Seller (e.g., Internet, print and signage) shall first be approved by Broker.
10.3. Contract Advisor No Existing Listing Agreement. Seller represents that Seller Is Is Not (clr) currently a party to any listing agreement with any other broker to sell the Property.

I hope this information is helpful

Regards
Brian L. A. Wess
Realtor®, Broker Owner
CRS, CDPE, GRI, ABR, ASR, CSR, CNS, SFR, e-PRO
Military Relocation, Residential & Investment Specialist
Infinite Horizons Realty - Metro Brokers
Colorado Springs, CO
Direct: 719-528-6672
Web: BrianWess.com
COLORADO REAL ESTATE...DONE RIGHT!â„¢
1 vote Thank Flag Link Sun Jan 20, 2013
Probably not.....unless the owner has protected you as a potential buyer via their sales initiative.

I'm curious to know why you are bent on going "solo" on this often challenging experience. The fact of the matter is the seller pays the fee for professional services(commission), thus this expense should not be a concern for the buyer.

Bill
0 votes Thank Flag Link Wed Jan 22, 2014
Donna,
Of course YOU can work without a REALTOR!
This would make everybody really happy.
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Is it smart for you to work without representation?
This is quite a delima that is cloaked in smoke and vapor and misinformation.
Too much of what you have heard, (you were shopping FISBO) is the byproduct of real estate professionals making the purchase and sale of real estate look easy. Almost gives the impression , "ANYONE COULD DO IT!"
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Did you ever notice that everything is easy when you have the answer?
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If you think you have all the answers (your question suggests you do not) then go full stream ahead. Like I said, you WILL make some folks happy.
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However, there is seldom a cost to a buyer to have their own professional representation. When your team includes a player, a professional who has solutions, resources, experience, options and yes, answers, you will find the process easy and beneficial to you. This is usually a PREPAID benefit that you can leave unredeemed.
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That is one thing great about real estate. The choice is always yours.

Best of success.
0 votes Thank Flag Link Wed Jan 22, 2014
Hi Donna,

You would need to check with the seller to see if you were excluded from the listing agreement they have with that agent. As professional agents, we recommend buyers and sellers use an agent's services so that you have someone working on your behalf to help you get the best deal and the smoothest process through the transaction. We are sure there are some great agents in your area.

Best of luck to you!
Tina and Mary
0 votes Thank Flag Link Wed Jan 22, 2014
You can work without the Realtor on your end, but seller has to use that Realtor, so essentially, no you can't. It does depend on the type of contract, but most of the time all communication has to go through seller's broker.
0 votes Thank Flag Link Wed Jan 22, 2014
You can work without the Realtor on your end, but seller has to use that Realtor, so essentially, no you can't. You would have to go through the seller's Realtor for any communication and transaction dealing with that house.
0 votes Thank Flag Link Wed Jan 22, 2014
Depends how the owner's listing contract with their agent was written, but they have likely agreed to pay that agent a certain percentage of the sale price to help them get the house sold. If you contact that listing agent it might be possible for you to negotiate a lower purchase price if you do not have an agent that will need to be paid. This is risky for you however, as the agent will be working for the seller and not you. His job is to get them as high a price for the house as he can, not to help you get a good deal. You would probably be better served to get a buyers agent working inn your interest to find you the best deal out there. Good luck.
0 votes Thank Flag Link Wed Oct 16, 2013
Hi, Donna,

As many buyers, you have a very legit question. I would like to let you know that Listing agent represents the best interests of the Seller. And by becoming a Transaction-Broker he or she facilitate the transaction without represting any side. I would recommend to hire an agent who will represent your best interests and help you to negotiate the best possible condition for you.

Please, take into consideration that Seller will pay your agent's commissions, but you will benefit by having a professional by your side.

The best of luck.
0 votes Thank Flag Link Mon Jan 28, 2013
Hi Donna

The seller has now signed a contract with the Realtor to market and sell the home.

You may want to talk to the many fine agents that are responding to you.

Good luck.
Ruth
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Sun Jan 20, 2013
No. Once the owner has signed a contract with a broker, they're committed to having a broker represent them.
0 votes Thank Flag Link Sun Jan 20, 2013
Suggestion if he already has a realtor why not have your own realtor represent you ,is there a reason why you want to represent yourself.HENA MARTIN BROKER 760-251-2868
0 votes Thank Flag Link Sun Jan 20, 2013
I would think you would want to be represented by a Realtor. Sounds like the seller has likely signed an exclusive right to sell with his Realtor. Time to find your own agent. Wy not? It doesn't cost you anything, and your agent will be looking out for your best interests, not the sellers!
0 votes Thank Flag Link Sun Jan 20, 2013
Hi Donna,
If the seller has already signed a contract with the realtor then he is bound by the contract to use the agent to represent him. That agent will be looking out for the best interest of the seller. You on the other hand will not have someone looking out for your best interest. I have helped many buyers work with FSBO's or FSBO's who decide to hire an agent. Call me 719-661-8672 or email me and let me show you how I can represent you and it not cost you anything.
Pamela Weatherford
Keller Williams Clients Choice
719-661-8672
Soli Deo Gloria
pamela@pamelashomes.com
0 votes Thank Flag Link Sat Jan 19, 2013
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