Dear "Serious Buyer", I am a real estate attorney and I believe you have been given excellent advice by the brokers below who have told you that it all likelihood, the agreement is an Exclusive Right to Sell (meaning that the seller is required to pay the full commission even if the seller locates a buyer on his or her own) and to avoid this obligation, the seller would have had to carve you out of that brokerage agreement. But, as Lisa Brodsky and Christopher Pagli and others advbised, don't let the seller's agreement affect your decision. In my office, I have seen an increase in real estate contracts during the past two months. With the new broker, the home will be marketed more extensively so you ought to act fast. I would ascertain what the asking price is now and what comparable homes in the area are being sold at. Out of curiosity, how long ago did you make your offer? Did the seller's counter to your offer? Do what you can to make yourself as attractive as you can to the seller, by getting yourself preapproved for a mortgage and lining up an attorney. Definitely contact the seller and express your interest. Assuming that the seller is obligated to the listing broker, the seller will probably direct you to such broker. Please feel free to call me with any questions or visit my website for questions and answers. Barbie Lieber, Esq. 212-949-5586

Buyer,

It does matter how the listing agreement was written, but that agreement is not for you to see. It's really none of your business. The sellers are the ones who need to be concerned. They are the ones who have agreed to pay their agent a commission when the house sells. If the seller specifically excluded you from the agreement, which they could have done (and should have done it they though you were serious). Then they won't have to pay a commission or will pay a reduced commission. If the sellers were approached by you now, they should tell you to contact their agent. You said you put in an offer before..was it in writting? If you really want the house, don't let the listing agreement stop you. The sellers are paying the commission anyways. If you hesitate, then you may loose your chance. Why not get an agent of your own to represent you ? A buyers agent would be someone who's loyalty would be to you. Why wouldn't you want a professional to help and represent you? What are you doing about the mortgage? Have you been pre-qualified? Do you have a licensed home inspector to check the house for you? Do you have a real esate attorney? These are all things, and many more, that your agent can help you with and keep track of the progress of the deal along the way. Something to think about...

If you need to find a good agent, give me a shout..I am part of my companies relocation team and I can easily referr you to a qualified,certifed, relcoation specialist. It takes about a day. No obligation or cost to you, so take me up on the offer..then you would have an agent of your own.

Good Luck...
Lisa Brodsky
Broker Associate
Coldwell Banker
845-401-1448
lisa.brodsky@coldwellbanker.com

To Look At Other Homes: http://www.currierandlazier.com/lbrodsky
Free Interactive Neighborhood Site: http://www.HudsonValleyNeighbors.com

Tell the seller directly that you are interested in making an offer without their agent involved. I personally know people that have done this successfully.

~~~~~~~~~~~~

I’ve had a few instances where “buyers” tried that. The last one, my seller client asked him why he should trust him. The “buyer” is asking the my seller to be dishonest go behind his agent’s back. Not exactly the start of a trustworthy relationship.

Tell the seller directly that you are interested in making an offer without their agent involved. I personally know people that have done this successfully.

It depends on the language in the listing agreement. In some cases there is provision for such an event and in some cases once it is listed with a broker there is at least some commission involved. There is nothing to prevent you from putting in another offer, and then you will know what the circumstances are.

It will all depend on the listing agreement; but my question to you is this, if you were serious then what stopped you from keeping the negotiations going.

Anna

AS you can probably tell, rules vary from state to state based on the contract the seller signed with their realtor. In NY we do have two types of contracts as Chris states. And Chris is also correct in stating that in Westchester, the sellers may have excluded you from the lisitng agreement. But that exclusion probably has a time limit. So if you really want to the house, make an offer either directly with the seller, their agent , or you may obtain a buyers agent. Which ever way you choose, you'll be getting a house you want, and at a price you're willing to pay. But I wouldn't wait until after the contract expires. That could be months and by then you problably will have lost the house. All the best, Barbara Hallen

Hi, You would have to see the listing agreement between the Agent and The Seller. There is a section in our listing agreements for "additional points" and can be used for any buyers they may want to exclude. For instance when I take a listing I ask the seller is there is anybody they want to exclude from the rules of the listing agreement. If they say yes I write the persons name in the "additional points" section. If this is not done then there is usually no ground to stand on.

This also depends on the type of agreement signed by the seller. We have an "Exclusive Right to Sell" agreement which states that whether the Seller or the Agent finds the Buyer the Agent is owed a comission. The other type is an "Exclusive Agency" agreement which states if the Seller finds the Buyer They Will NOT have to pay a comission to the Agent. However if the Agent finds the Buyer a full comission will be owed to the Selling Brokers.

I will tell you that the "Exclusive Agency" is not as popular as the "Exlcusive Right To Sell" for obvious reasons. There is also another section of our listing agreements that states that if a Buyer viewed the home during the time it was listed with the Broker and decides to come back after it expires they will still be owed a comission for however many months are specified in the agreement, if any at all. Again you would have to see the agreement which you most likely will not be able to.

The only way this will affect you is if you planned on making a low offer and know the Seller would have taken it because they weren't paying a comission before. Most listing agreements are for 6 months so if you really want the home go for it now before the Agents marketing kicks in and you have the possibility of mutliple offers.

We have seen a busier Spring market so be aware there are buyers out there, homes are selling, and bidding wars are happening in some situations.

Sincerely,

Christopher Pagli
Associate Broker
Legends Realty Group
914.406.9023

Serious,

Don't let this stop you from moving forward. Most FSBO's have their home prices inflated anyway. An agent should be able to provide them with information that will represent the true value of the property relative to the current local RE market.

The fact that the home is listed with an agency, may be a good thing.

Good luck

Hello Serious,
Now that the house is listed for sale with a broker, the sellers are obligated to sell with their agent. If your as SERIOUS, then you should approach them again. Make another offer through their broker or through a buyer's agent of your choice. Why all the hesitation to offer again now that they are listed?

The answer is no...they must use their Realtor if they are under contract. They most likely have informed their Realtor about your offer. You can certainly approach them if the listing expires, but if their smart..thay'll still want representation.