Home Buying in 12208>Question Details

Jane Sinclair, Home Buyer in Albany, NY

Six months ago a realtor had me sign a document stating she was the buyers agent before she would show a house

Asked by Jane Sinclair, Albany, NY Thu Oct 2, 2008

Now I am looking for a home in another county, and the new realtor has asked if I am 'working with a realtor.' Do I have to do anything to officially sever the tie with the first realtor?

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Paula Kamperman’s answer
If you signed a NY State Disclosure Form, you did not sign a contract. You signed a form acknowledging who the Realtor was representing (buyer or seller) when the Realtor showed you the home as a licensed real estate agent is required by law to have you sign. You are required to do nothing. If you signed an Exclusive Buyer/Purchaser Agency Agreement you have signed a contract covering a specific period of time and that period should be stated under "Agreement Period". If the period for the contract has not expired I would contact the Realtor who drew up the contract to explain the situation. The Realtor might not have any further interest in providing service, particularly if you are seeking a home outside of that Realtor's market area of expertise, and may be willing to sign a cancellation and release.
0 votes Thank Flag Link Thu Oct 2, 2008
You need to review that document carefully, does it have an expiration date and what area's, town, city or counties does it specify. if it specifies all you should put in writing you want to be released from it. if it does not specify the new county then you are all set. you do not have to sign a buyer broekr form to see a house, you do need to sign an agency disclosure staing who the agent works for, seller, buyer, non agent, dual agent or designated agent. no matter what you should ask for a release if you do not plan on using them again. good luck with your purchase.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Thu Oct 2, 2008
You need to determine exactly what type of document you signed. NYS requires an agency disclosure form for both buyer and seller. It is a simple form. It is not a contract. Some real estate companys also use an Exclusive Buyer Agency form. It is a legal contract similar to what a seller would sign when listing their home. These contracts generally have a finite time and a specific location (county) and spell out your obligations to one another. Read the form carefully. If you still have uncertainties, show the form to your new realtor.

Here is a link to the form: http://www.dos.state.ny.us/lcns/realestate/1736.htm
0 votes Thank Flag Link Thu Oct 2, 2008
Read the document you signed. To what did you agree? If you hired that Buyer's Agent for a specific time period or a specific area, the agreement may not apply in another county or after this time elapse. However, you probably only signed the Florida agency disclosure form that lets you know how the Realtor will represent you. Florida does require that the agent present that disclosure form but not that you necessarily have to sign it. If you do not have a copy of that form, call the Realtor and ask for a copy for your files.
0 votes Thank Flag Link Thu Oct 2, 2008
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