My listing realtor made an offer on my house, can i get out of the contract?

Trulianewbie
Home Seller
Clinton, TN

There was another offer by someone that didn't go through. My realtor made an offer just a little better and i rejected the intial offer. Now i think something is a little funky and I want to end the buying contract with my realtor and maybe end the listing contract with her too. Isn't it wrong to represent her buying interests and represent me as the seller too?

Answers (9)
Scott Baker, ABR...
Agent
West Chester, OH

First things first. Go to the manager and explain your concerns. You may find an answer in discussing the situation with them. There is nothing wrong with your listing agent writing an offer on your home for themselves. It may end up being the best you recieve. As others have said, the agent should have discussed Dual Agency with you and after you understood you would then sign the Dual Agency Disclosure. If you don't feel comfortable, which you don't, at the least tell the manager you want someone else to represent you. If they are unable to provide you with separate representation, I would consult a real estate attorney. Please let us know the results of your actions.

Wed Nov 26 2008, 03:55
Maria Morton
Agent
Kansas City, MO

When we say "promote and protect the best interests of" our client, that includes our best interests. How can a person represent your best interests as well as her own?

The first thing you can do is to call the agent's broker and tell him/her the situation and your feelings. Come back and tell us what develops.

Wed Nov 26 2008, 01:04
Cindi Hagley, W...
Broker
San Ramon, CA

I would contact the agents broker first. Ask to be let out of the listing agreement, and explain why. Find a new agent, and if your current agent want to re-submit the offer, welcome it. You will need to rely on the new realtor for advice.

Tue Nov 25 2008, 22:49
Brittany Simone...
Agent
Columbus, OH

Dear Truianewbie:

You should definitely not allow this agent to represent you and the buyer at the same time if you are uncomfortable with the situation. To protect your best interests you should hire an exclusive buyers agent for your purchase and use a trusted listing agent to sell. Two seperate agents, two seperate companies. This is the only full proof way to avoid a dual agency situation.

Tue Nov 25 2008, 08:52
Jerri Furniss
Agent
43081

Dear Clinton:
Karen really gave you the best description of Dual Agency.

You should have signed an agency relationship form indicating the Realtor is representing both Buyer and Seller.

I, too, would recommend consulting a real estate attorney if you still feel uncomfortable. Or, how about a frank discussion with your agent? Maybe all of your fears can be put to rest by airing your concerns. Most professional Realtors I know would welcome such a chat, so please don't be shy about initiating one!

Tue Nov 25 2008, 08:23
Bill Eckler-Flo...
Agent
Venice, FL

Our recommendation is to make dorect contact with your agent's broker, making him/her aware of this situation. If you are still uncomfortable with the direction things are going, ask to be released from your listing agreement.

Do you feel your "asking price" is fair? This should be a consideration since the agent/buyer helped to establish it. Was it done in a manner that represents your best interests?

You are correct in questioning this and should take action to protect yourself.

Good luck

Tue Nov 25 2008, 07:37
Scott Godzyk
Agent
New Hampshire

Yes that is very unethical. You should write a letter asking to be released from your listing contract. You will want to send it to the managing broker as well as teh listing agent. Either deoliver it in person to both or send it certified mail so you have a receipt of it. depending on how much hastle they give you to get out, you may want to get a complaint form from the local board of reltors and Ohio real estate commission. Every agent knows they dont bid on their own listings. I hope you can work things out.

Tue Nov 25 2008, 06:40
ERIN
Agent
Lafayette, LA

seems she has put you in a very awkward situation. you can reject her offer as many times as you'd like...i don't believe that she has your best interest in mind. I'd contact her broker and discuss situation and if she is the broker you should seek advice from the real estate commission. you're clearly upset by her behavior-definatley consult with broker and /or real estate commission
FUNKY!
gOOD LUCK

Tue Nov 25 2008, 06:39
Karen Disbrow
Agent
Powell, OH
FIRST ANSWER

If your Realtor® is representing you, the Seller and the Buyer, than this is a dual agency relationship. This relationship involves the following limitations:

1. The Agent will deal with the Buyer and the Seller impartially
2. The Agent will have a duty of disclosure to both the Buyer and the Seller
3. The Agent will not disclose that the Buyer is willing to pay a price or agree to terms other than those contained in the Offer, or that the Seller is willing to accept a price or terms other than those contained in the Listing
4. The Agent will not disclose the motivation of the Buyer or the Seller to sell unless authorized by the Buyer or the Seller
5. The Agent will not disclose personal information about either the Buyer or the Seller unless authorized in writing
6. The Agent will disclose to the Buyer the defects about the physical condition of the Property known to the Agent

Before receiving an offer both you and the other party will be asked to consent in writing to this new limited agency relationship.

If you did not consent to this agency relationship in writing, you may be able to get out of the contract.

I would recommend that you consult a real estate attorney.

Good luck!

Tue Nov 25 2008, 06:37

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