Betty, Home Buyer in Downingtown, PA

What are my obligations towards an agent?

Asked by Betty, Downingtown, PA Fri Aug 8, 2008

I have been working for some time with an agent. I am now interested in a house that is not being sold through an agent. Can I go ahead and put an offer?

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Sarah Noggle, Agent, Cincinnati, OH
Fri Aug 8, 2008
If you have been working with an agent for some time then you obviously have been receiving top notch service.,why would you want to venture out on your own now? Did you sign an Exclusive Buyer Agency Contract? Even if you didn't , your agent has been there with exceptional service and I feel you have entered into a relationship of trust and respect . Your agent is there is guide you and use his/her expertise on the market, the property location, comparables and overall quality of the homes you are touring - to find you the best possible home for the best price. Absolutely use your agent to assist with this purchase, especially with a FSBO - it's even more important as many "by owner" homes are priced much higher than the current market. Have your agent make the contact with the seller and be sure the seller understands you want buyer representation. .
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Connie Salta…, Agent, Frederick, MD
Fri Aug 8, 2008
You should ask the seller if they will "honor a buyers agency agreement" Which means they will have to pay the agency fee, probably 2.5 -3%. Most sellers will gladly pay the fee to have the sale. Plus they benefit from the agent providing the proper forms, and disclosures for everyone in the transaction. They should not object, and if they do there is probably a reason, and I would find out what that is.
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Scott Godzyk, Agent, Manchester, NH
Fri Aug 8, 2008
If you have signe dthat agent up as your buyers agent you will be responsible for paying the commission you agreed to on the buyer broker form if you purchase any house whether through a for sale by owner or another broker. Check your contract for the details. If you have not signed someone up as your buyer broker, then you have no responsibilities to them. However, making the largest purchase of ones life, wouldnt you want a professional to guide you through it and assist you in making the right choices and getting the best price and to protect you?
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