There is no transaction or contract in your specific situation. The buyer agent you were working with was not the â€œprocuring causeâ€ since you were the one to find the property not him/her, and that is why you hired him/her in the first place, right! Plus, your contract expired. Of course, I don't know the specifics of your contact and this is not legal adivise.
Now, if after your agent has done his/her job, you canâ€™t cancelled because then you will owe him/her a commission. But in your situation, your agent has NOT done his/her jobâ€”he quit before negotiations even started! So you are free to hire another Realtor.
There are plenty of good agents out there you just got the â€œbad apple.â€ Next time you hire a agent/realtor, interview them, ask for references, and check his DRE record, itâ€™s so easy to do that now-a-days.
Real Estate Broker
Realtor since 1987
Active Rain Profile: http://activerain.com/blogs/aidapinto
Blogger.com Short Sale Diva' s Blog: http://shortsaledivasblog.blogspot.com/
Face Book Short Sale Diva Fan Page: http://www.facebook.com/pages/Downey-CA/Short-Sale-Diva/3623 Â© 2010
Disclaimer: This is not legal advise and this is solely for informational purposes, please consult with an attorney for legal matters. I am California Licensed Real Estate Broker, and have been in business for over 20 years in the Los Angeles County area. Please feel free to call me at 562-916-3237 should you have any further questions. Â© 2010
You can absolutely represent yourself, however witihout prior experience in purchases or a legal background, things can get complicated--and our jobs are to assist and explain. Let us do our job. Sorry it sounds like you got a bad apple the first time out.
I see this a little differently. Most of the agents below spoke about commissions to the broker, as if that was the most relevant part of the problem. It isn't.
First of all, let me say that the most important part of representation lies beyond finding the home, and beyond the negotiation, in helping you close the sale. The agent works for you in navigating the escrow and all mandatory disclosures, explaining the preliminary title report and covenants, conditions and restrictions on the property, obtaining a fair appraisal, making sure your loan goes through, obtaining excellent inspections and negotiating fair and complete solutions to conflicts that arise. Without a strong advocate working for you, what you (possibly) save in commission you risk losing in time, cash credits, etc.
I think it's tragic when a real estate agent gives the industry a black eye. I am passionate about having Realtors adhere to a high work ethic, and place their fiduciary duty to the client above all else. I am a member of several organizations dedicated to just that.
While I don't work in your area, I know of several top notch agents who would protect your interests in this transaction. I have said this before: "I highly recommend you interview three, and hire one."
Best of luck,
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
Best Of Luck,
Based on your follow up- you should be free and clear. You might want to pose this question to your local Association of Realtors, or when you find a new Realtor you are happy with you can run it past them and see what they think. They are going to want to make sure both you and they are in the clear before you guys sign anything.
Unless you signed a buyer broker agreement, you are free to work with anyone. It will probably upset the agent, but if you are not seeing things equally, it is your right to go elsewhere. If you did sign an agreement, and you do not wish to work with him any longer, just express yourself and state you wish to cancel the agreement. Most people do not want to be in a relationship that is not working, so they will probably be cooperative. The only thing with this is.... if you want to go back to a property that this agent introduced you to in the first place and you end up buying that home through someone else, you may owe the other agent their commission, as they were the original procurring source. Best thing to do is tell the agent how you feel and that you no longer wish to work with them and simply communicate. Good luck.
Always happy to assist.
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
We are all hinting at the notion of procuring cause which is often what commission claims tie to. And then there is the matter of whether you signed an exclusive buyer agency agreement . The third consideration would be if this agent actually wrote up the contract and it was accepted/signed by all. Those are the questions to be answered.
Find yourself a really good agent - the process is an emotional one - you need an agent that can roll with it.
Unwavering Commitment to Service
That does make a difference - if you found the property yourself, the other agent may not be the procuring cause of you finding the property, which it what entitles them to the commission. If you were working with a buyer broker agreement which expired, and then you found the property yourself after that, then you would probably be OK to have another agent represent you at this point. I would still speak to the broker, as Horna mentioned below, as your original agent may still be entitled to the commission if they already wrote an offer for the property and it was accepted. It is in your best interest to discuss it up front with the broker and come to an agreement, so the original agent doesn't try to come after you later for the commission and you end up having to pay it yourself. One suggestion is to see if the broker will agree to accept a referral fee out of the commission (customarily 25%$ or so), which would be paid by the new agent, who will earn the balance of the commission. Hope this helps..
Coldwell Banker Residential Brokerage
",,, our contract expired before I found the property" --- if you're referring to buyer agency, review that contract to determine what are the obligations if any, once you enter into a purchase contract that while you were in that contract time period. The reason being, if that realtor wrote up the contract for you and it was accepted, he can claim to be the procuring cause. Whether you can continue using him or not, he may claim the commission on that particular sale.
If the broker assigns someone else to help you, that may be the better scenario at this time.
It would most definitely help to put a cancellation in writing --- and make sure that realtor's broker receives it.
But as far as who gets the commission --- that may be something you can negotiate with the broker if another agency picks up where the old one left off.
This is a great question. I would recommend talking with the manager of your former Realtor's office. Set the ground rules that it did not work out and that you want to re-engage to the seller and are moving on without them. At that point you can either higher a new Realtor or do it yourself. Best
I am assuming that you refer to 'procurring cause" and entitlement of commission. Lots of buyers, sellers and agents have a fall-out at somepoint. Many times- the fall-out is an intentional sabotage in order to circumvent and save a few bucks- a common Russian Negotiating Technique!
Often, there is a personality conflict and those that were close friends, buyer-agent, etc. The relationship ens or is severed and unhappiness follows.
Sunny Isles Beach Real Estate and Information
in Bal Harbour and Miami Beach, Florida
Written word is king! If you were in a Buyer's Broker Agreement with that agent then make sure his or her "quitting" is also in writing. Not sure how your state handles "procurring cause" but that will also factor into it. Have you spoken with that agents Qualifying Broker or an Attorney? They can speak directly as to any obligation factors.
Now that being said...my advise is to seek another realtor's help. Unless you have personal experience or the background in liabilities, risks and mind fields that are inherent with real estate transactions, I would definitely look for professional help.
Then again if the other agent "quit" and is willing to put in writing that she releases you of any obligation to pay him/her a commission, then you'd be 'off the hook'.
You found the property on your own & are in "negotiations" with the owner. Is this a For Sale By Owner or is it a listed property? If it's a listed property you may be considered, represented by the listing agent & the listing agent may have the procuring cause.
I hate dishing out the what if's of it all. You gave me BEST ANSWER on one of your previous questions, Thank you for that. Feel Free to contact me directly, so I can know the full details of your current situation, I know I can offer you a better opinion knowing all the details.
I'm so sorry to hear you and your agent bumped heads during your transaction.
You have a few options: Hire a different realtor and have the realtor contact your old agent to work something out so that you can move forward- or have the broker assign a new agent in that office and work it out for you. :)
Hopefully, too much time hasn't been lost and you can still get the property you want.
I wish you the best!Please let me know if there is anything else I can help you with.
Kenya Costa ABR,SFR
Keller Williams Realty Los Feliz
As John explained below if the agent wrote the offer and got the acceptance from both parties he/she is most likely earned the commission,
The safest way is to talk to the broker of the agent and ask them for a new agent to help you with the purchase.
I would speak to the agents broker/manager and explain the situation - possibly they can have another agent assist you and they can work out the individual agents' compensation internally. You are being represented by the broker, and you should have the representation you deserve. If you just got another agent for the same transaction without speaking to the broker, your new agent would likely not earn any commission, as your original agent was likely the "procuring cause" of you finding the home - in that case your original agent would be entitled to the commission. Definitely speak to the broker & see what they have to say. Good luck!
Coldwell Banker Residential Brokerage