Home Buying in Sugar Land>Question Details

Leann, Home Buyer in Sugar Land, TX

I recently signed a paper titled informartion about brokerage services. It was just a one page deal. An

Asked by Leann, Sugar Land, TX Thu Apr 3, 2008

agent made me sign it before we did a contract on a house. The contract was denied. Is this realtor now my buyer's agent and if so, how long do I have to work with him? I want to work with a buyer's agent but let's just say this guy hasn't impressed me. Am I free to find another agent?

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14
Well Leann,

I sure hope it wasn't a Realtor that actively posts here on Trulia Voices, because it sounds like that agent was not a very good one! Let me explain.

First off, the Information about Brokerage Services (IABS) should have been given to you at the first initial face-to-face contact! It should not have been given to you ONLY right before you submit an offer! ... shame... shame

Second: He obviously didn't EXPLAIN it to you! Ensuring the client at least, can decipher the difference between buyer's representation and seller's representation by default in TX is HIGHLY critical! Not only to make sure that you the client understands, but also to keep his Broker out of violations of Standards of Practice and the Licensing Act. ... shame shame again!

As the other Realtors here have already suggested, it does not sound like you've signed a buyer's representation agreement, so you shall be free to go off to someone else. BUT, if you want to make sure; send that agent an e-mail terminating any implied or expressed representation and make sure you get acknowledgment back! *by the way, I'm not an attorney, just giving opinion*

Hope that helps!
Web Reference: http://www.eXposedHomes.com
2 votes Thank Flag Link Thu Apr 3, 2008
No IABS is simply a form informing you about how Agents work. It recommends you sign an agreement so you know who your agent is working for. Unless you signed a Buyer Represantation agreement you are "free to go"
Web Reference: http://www.CarlosDFW.com
2 votes Thank Flag Link Thu Apr 3, 2008
The form you signed was an information disclosure on representation that should be presented at the first meeting and before any discussions. It is not a representation agreement.
1 vote Thank Flag Link Thu Apr 3, 2008
Licensed Realtors in Texas are required by law to give that form to prospective buyers. The form is designed and intended to explain your options for representation in a real estate transaction. The agent should have given you a copy in addition to keeping a copy for himself. It is not a contract. Your signature only acknowledges that you received a copy of the disclosure.
An agent who shows you a property may not ask you to sign a "Buyer Representation Agreement" beforehand. Generally, they are still entitled to a commission if you purchase a property that they introduce you to... that's called "procurring cause" .
If you are unhappy with an agent you should let them know. If you have signed a Buyers Representation Agreement you should ask them to terminate it by signing a Termination of Buyer's Representation agreement and giving you a copy. If you have not signed an agreement you should still let the agent know that you will be working with someone else, just as a courtesy.
This is all intended only as practical advice, not legal advice. Hope this helps... If you want a copy of the Information About Brokerage Services form which you signed, let me know & I'll email one to you.
1 vote Thank Flag Link Thu Apr 3, 2008
But of course! Find a new agent and fire that one whenever you want. Just don't be shady and go try to buy a house he showed you or there could be problems.... Good luck with your new Agent! Another question, have you worked with any REALTOR that impressed you? If so, you should call them for representation or even a referral of a local agent if it was out of state. Heck, Call Marcia Feldt Bates with Texas Edge Real Estate, she is awesome and comes highly recommended. She will surely impress you!
1 vote Thank Flag Link Thu Apr 3, 2008
Hi, Leann. I am a real estate agent right here in Missouri City. The Information About Brokerage Services form is simply a form that states you are aware that you are working with a person who is a licensed realtor, and gives you information about representation. It should be given initially at the first meeting, regardless of what happens afterward, and should always be explained by the realtor. This is important because its purpose is to protect you from unscrupulous persons who might pretend to have less knowledge than they do in order to cheat you one way or another. For instance, if you were talking to an ordinary person, or thought that you were, and that person was trying to sell their home to you, you would more or less feel that you were on an even playing field with that person, tell them things you probably wouldn't reveal to a professional, etc. Every realtor is required to present that form to you when in the process of acting as a realtor, or even if they are simply talking shop to you. It does not mean you are obligated to work with them. If you sign a Buyer's Representation Agreement, however, that is a four page contract between the realtor/broker and the client. That does mean you have contracted the realtor's services to help you purchase a home. You shouldn't have any problem telling the difference. In the future, don't be intimidated by the realtor. After all, he or she is working for you, and if you are afraid to ask them about any form at all, then you should find another realtor that you feel confident working with. Not pitching my services, just a more informed bystander. Take care, and find your dream home!
0 votes Thank Flag Link Wed Apr 23, 2008
EVERYONE that stated the agent should have presented this for (IABS) is absolutely correct! The only reason that I am adding my "2 Cents" here is really to say that I don't agree with what Tim Young stated about the Buyer's Rep. Agreement. That form CAN be signed before you ever go out and start showing property. At my first face to face appointment with a new customer (because they are NOT a client unless they DO sign that Rep. Agreement) explain the IABS form have them sign that and then start explaining what I can do for them IF I have a respresentation form signed with them.
I had never heard an agent say that you could not have that signed before property was shown. Any other opinions on this?
0 votes Thank Flag Link Wed Apr 23, 2008
We know you signed the IABS but you also need to see if you signed a Buyer Rep Agreement...and what area it pertains to.
0 votes Thank Flag Link Tue Apr 22, 2008
The time period you would have would be stated on any BRA (Buyers Representation Agreement) - Like those that answer you before me said, it sounds like you only signed the IABS form along with the contract. The IABS just explains how an agent will represent you in an Real Estate Transction and the contract sounds like its dead.

So I suggest that if you are not happy with your present agent, then more on. Remember your the "Client" and your agent should represent your best interest... ALWAYS... Best of luck!
Web Reference: http://www.shaynestone.com
0 votes Thank Flag Link Thu Apr 3, 2008
Even with a Buyer's Representation Agreement, there are many cases where the agent would not have a legal standing when it comes to procurring cause.

Go look for another agen that can help you. Get referrals from people you know.
0 votes Thank Flag Link Thu Apr 3, 2008
Information About Brokerage services does not obligate you to one realtor or another. However you should see this from every realtor who shows you homes. What you should be more interested in is if you signed a buyer's representation agreeement. This could obligate you to more than one property potentially.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Thu Apr 3, 2008
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Sounds like you got the right answer. It's "information" and that's all it is. It is a requirement for agents to give that form to any customer in Texas on the first time you meet them. Many agents do not follow the rule and only do it when it's time to write an offer but it should be done before you are shown any homes. So, you are not obligated to this agent at all.
Web Reference: http://www.sumnerrealty.com
0 votes Thank Flag Link Thu Apr 3, 2008
If you have not signed a buyer rep agreement you are fine. Under the laws of the State of Texas prior too agents speaking with buyer or seller they must sign that document. That document must be part of the file in order for any buyer or seller to close on a property.

If you did sign a buyer rep agreement not happy with the service most agents will allow the buyer out of the agreement and sign a release statement. HOWEVER any property they did show you would revert back to that buyers agent if you have closed and caught you could be sued.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Thu Apr 3, 2008
No this is just a form that every Agent in Texas has to have their client sign. This form is just telling you how broker work and how commissions are paid. This is a law that is in place to protect you. Everyone who signs it can get a little freaked out, but it is not a contract of any sorts. You can still find another agent. That page is just info. for your protection.
J.
0 votes Thank Flag Link Thu Apr 3, 2008
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