We have been out with a realtor twice to see several houses. We have decided we would like to put a bid in on the house and put our on the market. We were looking into a different realtor because ours is not as available as we would like. When I tried to let her go, she said that we could not legally buy the other house without her since she was the one who first brought us to the house. Is this true - even though we have never signed any kind of contract with her? Is it a NJ law? Or is it an ethical thing? I feel trapped with someone I don't have full confidence in.
2007-08-05 03:59:47 · 17 answers · asked by beachbumtchr 1 in Business & Finance ➔ Renting & Real Estate
The licensee that showed you the house you want to purchase is the procuring cause of the sale, if you are successful in purchasing the house, if you do not want to work with that licensee now, then so be it, that is your right, however that licensee will be owed a commission by the listing agent if that agent is offering a split of their commission to such procuring cause agents. It is your right to work with whomever you want if you do not have a written agency or other type of representation agreement with a certain licensee.
Best of luck to you
2007-08-05 04:05:19 · answer #1 · answered by newmexicorealestateforms 6 · 3⤊ 0⤋
Your realtor sounds like a real jerk. Why didn't your realtor insist that you get pre-approved (which incidentally should be a free service) for your loan FIRST? That way you would have known your fiancee was not able to own property until she turned 21. Where I live (in California) the first thing that is normally done when buying a house is to get pre-approved. Most realtors insist on it - it shows that you are serious about buying a house and that you have the ability to be approved for a loan as well as the amount of that loan. That way, you know what price range to look at when shopping for a home. Realtors don't want to waste their time with a prospective buyer that is neither serious nor able to qualify for a loan. In most cases, you should be able to get your deposit back, as long as you have a legitimate reason for backing out on the deal, which I would say you certainly do in this case. Sounds like your realtor is giving you the shaft and just doesn't want to refund the money. I would definitely push the issue - maybe talk to the realtor's supervisor or manager if you can't get anywhere with the realtor. Sorry, that's about the best advice I can give you. Best of luck to you.
2016-05-19 00:54:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yeah I think the realtor will get paid because she showed it to you. I'm going by second hand info though... my sister in law is a realtor in CA and she told me about her coworker's situation... much like yours.
The clients went to the realtor that listed the property (after looking w/ the first realtor), and the listing agent made a deal with them to reduce the cost of the house if they worked with her directly (she would be the listing & buyer's agent basically). However, this agent didn't realize that they had already viewed the home with another agent. Well, the first realtor found out about the offer & stepped in. She asked the clients why they didn't work with her before making an offer, and they explained that she was busy that day (but she wasn't too busy to show them about 40 homes before that one).... anyways, the bottom line is that the clients ended up paying both commissions to the first realtor and the second realtor. It was quite costly for the clients, but the agent was happy she got paid for her time.
My advice is to talk to the realtor that you've been viewing homes with, and explain your concerns to her. As a professional she should try to improve. If she doesn't and you really have a problem with her, go to her supervisor.
2007-08-05 04:15:59 · answer #3 · answered by Mingo Nightingale 3 · 0⤊ 0⤋
If you didnt sign a mandate with this Agent, the house youre selling can be sold by another agent, or agency, if a mandate was signed you can wait out the mandate peroid, or contact the principal at the agency who can then assign another agent to sell your house.
I wouldnt do the deal of buying property direct and not through an agency, it is tooo risky, legally and financially!
If a mandate has been signed on the house that youre interested in, that agency not neccesarily the agent has the right to sell the house, until the mandate expires.
Madates is the only legal bind and agency has on the property, but if they are underperforming, change to another agency who could then contend this. You the buyer and the seller must do this together.
2007-08-05 04:20:58 · answer #4 · answered by zooz 2 · 0⤊ 0⤋
Even if you signed a contract, you can fire her. Just give her your reasoning in writing, and make sure you clearly state in the letter that you no longer require her services. Then you should be safe to get another realtor. I don't know about NJ, but in CO a realtor doesn't have any right to anything unless you physically sign a contract. So that's really strange that she would say that to you (all the more reason to get rid of her, if you ask me).
2007-08-05 04:05:15 · answer #5 · answered by ronathecute 3 · 0⤊ 0⤋
If she is directly responsible for bringing the house to your attention, than she might have some legal recourse available to her....
I used to be a realtor, and i can tell you, realtors are generally lazy snakes....most wont bother with a lawsuit, but they will be a pain in the azz hoping you give in and give her a "cut"
You can always get her realtor # and complain to the NAR
Wait until the listing expires, than go back to the owner directly and try to strike up a deal with them, to save on all the real estate comissions.
2007-08-05 05:12:05 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I honestly don't know if that is true but it's highly unfair for you to make an offer through another Realtor when this Realtor has been taking you out. Make an offer on the house, if it's accepted..you then mostly deal with your lawyer at that point and don't need too much contact with the Realtor.
2007-08-05 04:05:26 · answer #7 · answered by KathyS 7 · 1⤊ 1⤋
If you have not signed a buyer agency contract with this person, you are not obligated to use her to handle this transaction. However, you ARE urged to tell any other agent you select that you have viewed this property with a different agent. Your first agent has what is called 'procuring cause' for the sale, and will have a claim to the commission which would normally be given to your second choice agent.
Since the first agent 'introduced' you to the property, she will gain the commission. Another agent needs to know this beforehand, or you will have one VERY upset agent who will get no commission after putting in all the work to help you in this transaction.
2007-08-05 04:39:18 · answer #8 · answered by acermill 7 · 0⤊ 0⤋
Legally with no signed buyers agency contract, you can use whom ever you would like. Now morally if you had her take you to several homes it would be nice to use her. If you do not like the way she conducts her business, just be up front with her, and let her know that your personalities clash, and you would be more comfortable with another Realtor. She may not be happy, but she should appreciate your honesty. You could maybe use her to purchase your home, but chose another to sell your home. Again, she will not be happy, but that's life. These are the biggest decisions you have to make, and you should be doing it with someone who understands you, and you are comfortable with.
RE Agent,
Remax
2007-08-05 04:08:24 · answer #9 · answered by frankie b 5 · 0⤊ 0⤋
No, You don't owe her ANYTHING. If you didn't sign a Contract with her she cant do SQUAT. In addition, call the designated broker in her office and tell him you are filing a complaint with the board of Licensing as well as an ethics complaint with the Association of Realtors. Not only is her behaviour Unethical, she is full of CRAP.
-Former RE Broker
2007-08-05 04:08:05 · answer #10 · answered by Visit Budget101.com 3 · 1⤊ 0⤋