We have been lied to through our "buyer" agent for the umpteenth time. I won't list all the problems, I'll get straight to the question. We're ready to put an offer on a home that he showed us and lied to us about various things. We are extremely uncomfortable working with him. We have an exclusive agreement with him. We want to offer on the home. Is there another way to do this without working with him? Through his broker perhaps? If this deal doesn't go through, how do I break my contract with him. He said before I signed it he would break it if we were unhappy at anytime. This would be the 2nd house we are putting an offer on, so he KNOWS we're serious buyers and looking to buy. We also have a decent amount of money to spend, so it's a nice sale for him. Should I have never shown him my pre-approval letter? I thought he was working for me, but he only cares about his commision and it isn't for our best interest. Any advice is beyond welcome. This is pretty time sensitive.
In Mass
2006-12-12 02:32:58 · 13 answers · asked by lag 1 in Business & Finance ➔ Renting & Real Estate
edit~
I know I cannot go through another agent if I want that house. I guess I am asking if I can request for his superior to deal with this, because I know there are commission issues if we go through another agency. Was wondering if there was commission issues if I use his superior?
2006-12-12 02:48:01 · update #1
Edit~
kanerealtyadvisors/Homebuyer Helper: I would be interested to know what you think regarding my exclusive contract. I don't know how to cintact you through your website. please contact me through yahoo.
2006-12-12 04:36:41 · update #2
Hi,
I am a massachusetts real estate attorney and an exclusive buyers agent. I would contact the broker to see if another agent within the company can handle the transaction.
How long does the contract extend for?
I hope that the agency that you chose exclusively represents buyers. One of the problems in this business is that many real estate agents represent both buyers and sellers. In this scenario they tend only to show buyers homes that they are listing. The main reason is because is they represent both the Seller and Buyer they can get 100% commission. If they represent only the buyer then they split commission with the listing agent.
Also remember to have a home inspection done prior to purchasing the house. I would use an independent inspector, not one that the agent recommends. This is because the inspector probably gets alot of work from the agent and will tend to overlook things so that the deal closes.
Also, as an attorney I can review your agency agreement to see if there is a way out at this time. Unfortunately, these agreements are written by real estate agents so they are usually air tight.
Hope this helps!
Kane Realty Advisors - www.kanerealtyadvisors.com
111 Washington Street
Plainville, MA 02762
2006-12-12 03:44:37 · answer #1 · answered by Homebuyer Helper 1 · 0⤊ 0⤋
Don't be shy. You have the right to talk to your agent's boss (broker). Remember the agent can only work or do business through a broker so the broker also represents you. The law holds every broker responsible for the agents' actions. Talk to the broker directly and express your concerns. You should be able to sit down with the agent and his/her broker and decide what is best for YOU. You also have the right to cancel the contract between you and the agent and his/her broker. Lying is a breach of contract.
Remember, you have a while to go till you close on your purchase. If you have determined that you can't trust your agent then think again. His actions may cause you money and a lot of headache along the way. What if the home has problems? What if..... and he won't disclose all information to you?
Good luck... I am a full-time realtor with Remax
2006-12-12 03:01:38 · answer #2 · answered by Providence 1 · 0⤊ 0⤋
If Mass is like AZ, then your agreement is technically with his broker, not with the agent. So, this means that you can contact the broker and ask for help. Then the broker will determine how to work out the commission issue.
I suggest calling the office manager of the office where your agent works. Explain the situation and ask to speak to the broker. Tell the broker that you want to either 1) break your exclusive agmt or 2) work with a different agent (if they refuse to allow you to break the agmt).
Depending on the broker and the amount of money involved, they may or may not let you off the hook so you can go find a reputable agent that you trust.
2006-12-12 02:57:27 · answer #3 · answered by whatever 3 · 1⤊ 0⤋
I would start by letting the agent know you are unhappy with him and wish to work with another agent, if that fails go right to the broker, let the broker know all the things you just said, because he is responsible and gets part of the sale he should jump through hoops to make you happy, if that fails file a complaint with the real estate board, last option would take alot of time, you really should be able to get where you want with the broker.
2006-12-12 02:44:50 · answer #4 · answered by paula_5150 3 · 2⤊ 0⤋
Yea - listen - the most important thing here is the lie - "if you sign it and are unhappy I will break it" He doesn't have to and he won't. That is just to get you to sign it. The only way out now is to get your own lawyer. Trust me when I tell you, a lawyer will solve all your problems ahead of time. If you wait, you will be locked in with all your money tied up, with likely a bad deal, and even if you don't get the house the "agent" will still get his commission from your pocket. For something like this, a lawyer may run you about $2500. However, in that sum will be money you would have spent at closing and for title as well. Get off of answers right now and call a lawyer. You're going to be Ok, the lies will stop, and that agent is going to poop his pants and become alot more amicable with you then. Good luck from FL.
2006-12-12 02:38:37 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Unfortunately you have entered into a contractual agreement with this agent and are legally committed to him. Your best option at this point is to make an appointment to meet with his broker and review your concerns. In all probability, his broker will arrange for you to work with another agent in that office with whom you will be more comfortable.
He verbal agreement to release you from the contract is not legally binding and should you make an offer on this particular home through another agent, other than one assigned by his broker, you may end up in arbitration or even court.
If, on the other hand, this offer does not go through, you can terminate your agreement and go on to another agent.
You may also want to file a complaint with your state's Real Estate Commission in regards to his unethical behavior and, in fact, I would write that up and take it with me to the meeting with the broker.
Good luck.
2006-12-12 02:41:55 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I'm not from Mass, so I'm not familiar with their state website. In other states, there is a real estate agent listing where all licensed agents must be listed - or they're basically eligible for jail time, if I'm not mistaken. So check the site first, probably secretary of state' webby...
Agents might have some sort of unspoken rule that they don't take each other's customers... hrm, but I'd definitely tell him to get lost anyway. Lying aint cool...
Other agents may.... hrm, I'm gonna send this link to an agent I know. I don't know if she even does Y! answers, but I'll give it a shot... I'm a mechanic, wth do I know? :o)
2006-12-12 02:48:48 · answer #7 · answered by Anonymous · 0⤊ 0⤋
You are able to cancel the exclusive buyer/broker agreement with him. Write a letter to him and cc: his broker and tell them you do not appreciate their representation and would like out of the agreement. They should cancel the agreement pretty quickly. You could also contact the real estate commission or licensing board in your state if you do not get anywhere with the first option.
2006-12-12 02:48:36 · answer #8 · answered by answerer 2 · 0⤊ 0⤋
You Should contact the broker that is responsible for his agent and explain the circumstance and tell him you would like to be represented by himself or another agent at the company that is experienced with working with homebuyers , Your contract is with the broker and he should have a talk with his agent,You May contact me if you have any questions
2006-12-12 05:30:53 · answer #9 · answered by getyoumovedrealty 1 · 0⤊ 0⤋
honestly she sounds like a very good realtor. she cut her commission to get YOUR house sold after you were having second thoughts which is what people good at their job in any field do. you are also VERY lucky she got your house sold for you. houses are not selling in this market unless they are priced competitively. she got your house sold without you having to do really anything and lowered her pay to get the job done, sounds like you got a good thing going here. or she could have bumped the price up like you wanted, let it sit on the market for 5 years until the market turned around where people start buying new construction homes again and you could be unhappy with her for that. edit: yes I am a realtor, well I own a real estate company now and run a commercial property management company. if this deal hasnt closed, call her broker. He will be listed at her office and he can get you out of the deal and the listing contract...maybe. it is legal what she did. but, you can sue her but my guess is it will go no where since you had to sign the purchase and sale agreement. if it hasnt closed with escrow yet call her broker and talk to him/her. also remember good realtors work on referal and repeat business so she isnt going to like you being upset and will probably try her best to fix the problem
2016-05-22 21:37:06 · answer #10 · answered by ? 4 · 0⤊ 0⤋