Can you retain a buyer's agent after the seller's agent has shown you a house?

Question

I found a home that I am interested in purchasing. I called the listing agent and set up an appointment to see the house. A friend told me that I should have a buyer's agent (which I agree is a good idea). But, I thought if I liked the house, I could retain their services prior to making an offer. My friend says I can't because the buyer's agent won't get his commission if he was not there for the initial showing. Should I postpone the walk through until I retain a buyer's agent?

Answer 1

You could still use one, claiming conflict of interest.

However, make things easier on everyone and show up for the walk thru with an agent. I would even call and cancel, most homes do nto require the selling agent to be rpesent at all.

While it is legal for the agent to represent both sides, they are also legally obligated to favor the seller. They MUST get as much money out of you as possible. It is much better to have your own guy/girl in there pitching for you!

Since you don't have an agent already let me make a recommendation....pick one that has been around for a long time. This market is simular to the market 15-20 years ago and it a differant game tehn the one played in the last few years. You will do MUCH better with someone who played this game (buyers market) in the past and survived.

Answer 2

Buyer's agents are paid by the buyer. YOU are responsible for the commission to the buyer agent. In a typical real estate transaction, there is a split of commission between listing agent and selling (buyer) agent. Now that the listing agent has shown you the property first, the listing agent is entitled to both parts of that split. You have a choice here. Speak to the buyer agent you have chosen and ask that they speak to the listing agent about whether or not the listing agent will give up rights to his/her part of that commission if the buyer agent enters the transaction. Some agree to do so, and others won't budge. If the agent won't budge, you can still have a buyer's agent, but expect to pay that person's services/commission directly from your pocket. If you are not willing to pay this extra charge, you are basically stuck with the listing agent.

Answer 3

The answer is yes.

The code of ethics and arbitration rules of the National Association of Realtors are clear on this. Just showing you the house does not entitle the showing agent to the commission. This is the group that could deprive the buyer agent of their commission. Your friend is right...that it is possible ...if the listing agent brings the BA in front of the Arbitration panel to dispute the fee...and if she convinces the panel that she was the procuring cause of the sale. An uphill argument since you are not comfortable buying the house at all through her. Winning that dispute has much more to it than simply being shown the house by the listing agent. Just showing you the house first is definitely not enough.

You have the right to representation. Explain your situation to your perspective buyer's agent...contact eba.com if you want help finding one.
John Herman Exclusive Buyer Agent (EBA)
2006 Ethics and Arbitration Chairperson

Answer 4

Do the walk through and during the walk through or even at the end of the walk through state clearly something along the lines of "Looks great, I will have my agent be in touch" or "I may be interested I will have my agent contact you for another showing" Just put it out there that you do have an agent but do it after the walk through yet still at the property. If you mention a buyer's agent before the walk through the selling agent may not show it until you secure a buyer's agent and set up the appointment with them causing you to possibly lose out on valuable time if say another interested party were to walk through before you.

Answer 5

Save your buyers agent some aggravation and do not set the appointment, and have your buyers agent do it. If you want them to represent you they should do it from step one to ensure they are procuring cause. This way they will be entitled to their commission. As a listing agent I do not pay agents who come in after the fact. I feel they are not doing the work, so why should they get paid. now if you want to go walk through open house you can do that, just let the agent know you have a buyers agent, and give them a business card.

Answer 6

It sounds like the sellers agent could claim that they are the "proximate cause" of your being interested in the house (due to their sign, advertising or whatever caused you to contact them). You might find that no buyer's agent will deal with you because of the risk of getting sued, unless they contact the other agent and agree ahead of time to some kind of split.

Personal note: I don't see what the big deal is about buyer's agents. A good agent is going to be truthful, because, if they try to squeeze you too hard and blow the deal, they don't get paid anything.

Answer 7

In my area, you can and should get a buyer's agent at any time. Contact the agent you have chosen, have them do some research for you on the property. Have them go with you on the walk-through to represent your interests and make your offer through your buyer's agent.

This isn't uncommon.

Answer 8

It depends on whether or not you signed with the sellers agent already. If you signed their guest book at the showing then guaranteed you also signed with them and agreed that they act and a dual agent.

Call an agent and explain to them that you want them to represent you. They will make contact with the sellers agent and work out the details.

A lot of people think they know what they are talking about and have good intentions but will end up costing you money or causing problems. Just go to the source.

Answer 9

You do not need a buyer's agent as long as you know how to buy a house

Answer 10

You have the right to retain a buyer's agent at any time and I highly recommend you do so. The listing agent represents the seller.