Buyer's agent

Asked by Vinay, New York, NY Wed Jan 30, 2008

First-time home buyers, so pls pardon the ignorance. A couple of agents have shown us houses (sequentially), and made us sign some document that NY State requires us to. Now if a third agent shows us a property which the first two have not shown then who gets the commission if the property by the third agent is the one we buy? If two agents show us the same property (even after we tell the second agent that we have been shown the property by the first agent a few months back), who gets the commission? How does one find out who is one's buyer's agent (just by asking each of them, each will say they are, no?)

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Jessie Rober…, , Kansas City, MO
Wed Jan 30, 2008
In most cases, the commission goes to whoever is the procuring cause (whoever showed it to you first, regardless of agency).

As far as buyer's agency goes, if you've signed an agency agreement with both agents, of course they will tell you they are your agent. Technically, if you've signed the agreement, they both ARE your agents. Some states have laws regarding the voidability of the second contract, but in many cases the commission goes to the procuring agent. Frankly, what you've done is not fair to either agent, and you really should make a choice of your available agents, because otherwise you are wasting someone's time. If an agent uses their time and resources, and then you end up buying from someone else, you have just cheated that agent out of their rightful earnings. I would recommend you choose now, before you get too far into it.

Best of luck on finding your new home!
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