Home Buying in Central Islip>Question Details

Jade, Home Buyer in New York, NY

Is the agent is the listing agent, and they already showed me the property, is it ethical/legal to now go to?

Asked by Jade, New York, NY Wed Jan 9, 2008

another agent to help me on the same property? And won't the agent hold it against me?

Help the community by answering this question:

Answers

10
This is one of those situations where the client gets what the client wants... if you're uncomfortable purchasing the property using the listing agent, you can let them know that you're not comfortable using "dual agency" and you didn't understand the ramifications.

Now, you'd like to be represented by your own agent. It's possible that your agent may have to pay a small referral fee or a showing fee to the listing agent for showing it to you... but it's also possible that the listing agent will recognize that the best thing to do, under the circumstances, is to just SELL the property, and forget about a petty showing fee.
3 votes Thank Flag Link Wed Jan 9, 2008
Alan May, Real Estate Pro in 60201
MVP'08
Contact
Oh, by play looking i meant online, just watching the prices in the areas ;)

Thank you all so much, I am going to try to fnd a dif person tomorrow, that way THAT person can show me the listings.

THANK YOU!

Jade
1 vote Thank Flag Link Wed Jan 9, 2008
It all really depends on who the people involved are. Any sharing of commissions or demands for money should be handled outside of any dealings and after the transaction closes through means provided by the local Board of Realtors. It should not involve you in any way. You are entitled to your own representation...
Web Reference: http://gailgladstone.com
1 vote Thank Flag Link Wed Jan 9, 2008
In NY State, If you look at the DOS (department of state) Agent Disclosure you will find that when any agent has substantive contact with either a buyer or a seller, they first need to review agency disclosure with you. You have the right to full representation if you choose. You can also work with an agent who represents the buyer as long as there is informed consent on your part. In other words, you know that he represents the seller and he is looking out for the seller's best interest. If you are OK with that and are savvy enough to develop your own offering price and have him just present your offer to the seller, that is perfectly fine. Dual agency is not an option in my mind. He has already established an agency relationship with the seller before meeting you so, for this transaction, he should be a seller's agent. Remember, even though an agent represents the opposite side, they still have to treat you fairly, and be honest with you. With internet buyers now, we seeing a lot of direct dealings that may result in a better deal depending on what arrangement the agent has worked out with the seller.
I would be curious to know your decision and the outcome.
Joe
0 votes Thank Flag Link Thu Jan 10, 2008
Sounds like a plan, Jade. Just remember that it's your agent's job to find you the right house and negotiage the best deal for YOU!

Come back and let us know how your house hunging went - I love happy endings.

Best,
Sylvia
0 votes Thank Flag Link Wed Jan 9, 2008
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
Contact
Jade - thanks for the additional info - a little uncomfortable I would agree - however, anytime an agent shows their own listing to a potential Buyer, I think it is the agent's responsibility to help make the Buyer feel that if the Buyer decided to purchase the home, the agent could be neutral in the transaction. The agent would need to be able to provide ALL of the comparable recent sales, not just the sales that support the listing price of the condo the agent has listed. If the agent cannot help the unrepresented Buyer feel comfortable, then it is reasonable to expect the Buyer to get their own agent involved.

He was hired by the Seller to sell the condo - he is doing his job - he has NOT YET been hired by you to find you a new home. Sure he may feel like he wasted his time showing you the other condos but it was his decision to show you homes not listed by him - it was his responsibility to help you feel you could rely on him to tell you the information you needed to make a wise decision. If you didn't have an agent when he showed you, he had the first chance/audition to become your agent......and it doesn't sound like he impress you enough to become your agent.

You later decide to make an offer through another agent, he needs to be excited he sold the condo for his Seller (and that was all he was HIRED to do). I would explain all of the history to the new agent so that if you do make an offer on one of the agent's listings, the new agent can handle the offer delicately. I wish you well.
0 votes Thank Flag Link Wed Jan 9, 2008
Cindy, I did NOT tell the listing agent that I was working with a realtor at that time, nor was I working with anyone else. Honestly, I was only 'play looking' just to see what was out there, and I found something I really liked ;)

They showed me 4 listings, 2 of them theirs, all in the same condo complex. I am interested in 2 of them, BOTH of them with this realtor as a listing agent. I don't think he is doing anything wrong, I do think that he is slanting things towards his listings. It is VERY hard to do research on Condo Prices online, and I do need some frank answers on cost. What I am worried about is now if I want to buy one of his listing properties, that he may harbor some .. well you see what I mean. Thank you all for your answers!
0 votes Thank Flag Link Wed Jan 9, 2008
Jade - I agree with Elv!s - find yourself a good agent and if the agent calls you, I would simply tell him that although you appreciate the agent showing you the property and it did make you get more serious about potentially buying something (it probably is not helpful for you to tell the agent how much you liked the property), you want to get your own agent and you are in the process of obtaining referrals from your friends - if you end up buying the property, as Elv!s said, the agent should be glad that they got the condo sold! All of us have been there before and it is part of our life as we help Sellers get their homes sold - good luck with your search!
0 votes Thank Flag Link Wed Jan 9, 2008
Did you tell the listing agent that you were working with a Realtor when they showed you the home?
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Wed Jan 9, 2008
Cindi Hagley…, Real Estate Pro in San Ramon, CA
MVP'08
Contact
I totally agree with Elvis on this. As a listing agent, I discourage 'Dual Agency' - where I represent both sellers and buyers on the same property - I would refer the buyer out.

I doubt if the listing agent will be askng for a referal fee just because he showed you his own listing thought - I'd run and show any qualified buyer my own listing if the buyer's own agent can not show the house for some reason (out of town, no lock box key, etc). . .

So, I would not worry at all, but do tell him/her why.

Sylvia
0 votes Thank Flag Link Wed Jan 9, 2008
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
Contact
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer