Home Buying in New Orleans>Question Details

Amanda, Home Buyer in New Orleans, LA

Problem with my buyer's agent, please advice. I need release from the agent.

Asked by Amanda, New Orleans, LA Tue Jun 30, 2009

I visited a realtor in Feb she made me sign a buyer contract so that she can start the process & be my realtor for 1 year...Well, her auto-mails hasn't been anything within my preference. I tried to communicate in first few months but no response. So I moved on.

6 months later, she called & reminded me I am under contract with her for a long time. Well, it happens that I am almost ready to make a purchase decision for a FSBO home and I haven't have any realtor involvement.

She has not showed me any houses, or any interest to help me at all. But she called only telling me about her family and how business didn't work well.. and now she ready to work for me... I feel she did not do her part to help me at all and I don't want to add the commission into my purchase. 3% is like $10,000 that I didn't have the service. I asked her to give me a release of the contract but she won't until we go to closing.

I am frustrated about this realtor and I don't want this to prevent me from buying.

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Answers

7
OK, here's my advice.

You're stuck. You've had all this time to free yourself from the contract, but you waited until you found a FSBO to buy. Whatever complaints you have about her service are truly only relevant if they represent a breach of the terms in the contract.

So. Call her up, tell her that you do not want her to be your agent, that you found a FSBO to buy, and that you do not want to pay her a commission. And, don't leave a message: speak to her directly.
0 votes Thank Flag Link Wed Jan 6, 2010
pay up!! lol...realtor in disguise...
yeah...read the contract like I said...
0 votes Thank Flag Link Wed Jan 6, 2010
ohhh please do not listen to cowal25

If you signed a traditional Louisiana MLS exclusive right to represent contract, you may be liable to pay "your" realtor, regardless of what kind of listing you decide to purchase.

As far as releasing from your contract...

If I were your realtor, heck no!

Did you call the realtor, as you should have to have her represent you on the FSBO? No you didnt! Why? Because you didnt want to pay the commission due! Pay Up!
0 votes Thank Flag Link Mon Aug 17, 2009
you are buying a FSBO...she only gets paid if there is a commission....so she's outta luck. look at your contract to see if you compensate where there is no commission....if you do then you are outta luck.
0 votes Thank Flag Link Wed Jul 15, 2009
I feel bad for what you are going through. You sound like a trusting person who believed this realtor would help you and now she is just taking advantage of you. Shame on her. Maybe you can tell her that I am looking for a realtor too (which I am) and if she doesn't release you from the contract, you will only have this bad experience to share with me. If she fixes the situation, you will be only left to tell me that there were problems but she made it right. Just a thought.

I am all about saving money as you are and if a good deal came up through a FSBO listing, I might do the same as you. BUT, I just wanted to share with you my personal experience with a FSBO transaction that I went through.

I bought my current home from my dad's FRIEND without using a realtor and it was a huge headache. Luckily I have a few people who know a lot about real estate in my city and they helped me through the bumps. You have to be very careful when you don't use a realtor. I had problems when my dad's friend tried to play hard ball with me and I had to deal with him by myself. Most people have strong morals and ethics, but when you throw money in the mix, some people throw their strong morals and ethics out the window. We see it at my workplace (law office) where families fight hard against other family members over money! These people fight their own families because of money!!! It is crazy and gets ugly fast! So, if you are dealing with money and the seller is not family, he/she might be worse than family???? Maybe not, but there is the possibility.

OH, just fyi...the guy who sold me this house who was my father's friend...is no longer his friend. Be careful! Try to get another realtor if possible.

I am not a realtor or an agent. I would like to assume your seller is on the up-and-up and would want you to get the best deal possible. But remember, he is trying to get the best deal out of this too! There is a possibilty that he would put his interest before yours??? Just a thought.
0 votes Thank Flag Link Tue Jul 14, 2009
Actions speak louder than words:
1) Did she assist you in finding financing?
2) Did she assist you in getting into the home?
3) Did she assist in the negotiations?
After 8 months she appears to not be listening to you.
In court, it is doubtful that her contract would not hold up if she cannot answer "yes" to the questions posed above.

Be careful with the FSBO's...especially on an appraisal versus what loan you can get. Also, make sure to have insurance quotes in hand before you make your final decision on this house.
Web Reference: http://iansellsnola.com
0 votes Thank Flag Link Wed Jul 1, 2009
First read the fine print of your "buyer broker agreement", make sure to see if it specifically states that "if you find a property on your own, you are or are not bound by the agreement"

If it looks like it doesn't help you, you should contact her broker (the owner of her Real Estate Company) and see if you can be released & explain why (the contents of your question here on Trulia should do it)

If she is the broker of her own company, you may have to contact her again & use this wording. "I have found a property that is For Sale By Owner, that I am interested in, I would like to deal with this owner directly, my attorney will be contacting you, to negotiate with you to release me from liability under your contract". Once the agent hears the word "attorney", she will likely release you.

*I am not an attorney. My answer here is based on my opinion & from my own experience.

I do however still suggest you try to have a Realtor represent you, even with a FSBO. The cost of the service will be paid from the seller's equity & you may end up getting the same or a better deal with the help of a Realtor. At least talk to another Realtor about this home's value before you submit an offer. There are many things the seller must do by law to complete a real estate transaction. It's in your best interest to get the help of a Realtor.
0 votes Thank Flag Link Tue Jun 30, 2009
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