How unethical would it be if I changed agents to write an offer on a home? My agent misled me in believing that she was a seasoned professional, but I have discovered she has only been licensed for 4 months! I am wanting to buy a bank-owned property and am finding that my bidding and financing situation is in need of someone with more experience. She did not find the home, I did, but she did let me in to view it. I have been working with her for 2 months and have developed quite a friendship. I just don't know if I want her handling my real estate needs. How do I handle this sticky situation? I have nothing in writing with her.
2007-11-28 13:30:26 · 8 answers · asked by Fern 1 in Business & Finance ➔ Renting & Real Estate
you have to live for your family and yourself do what is best for you
2007-11-28 13:40:18 · answer #1 · answered by fisher1221us 7 · 0⤊ 0⤋
If you have no contractual agreement with her you are free to choose any agent you want to work with. If she showed you the property first however, she more than likely has procuring cause for retaining any sales commissions to be made on the sale by the selling agent as she showed you the property and essentially "initiated" the sale as she has been working with you for some time. That means if you write an offer on that same property with another agent, that new agent may not be entitled to receive a commission and may not represent you in the purchase of that same property. Bank owned properties are more predominant these dats than in the past and even seasoned agents that do not specialize in bank owned properties are not necessarily familiar with the process of bank owned properties.
2007-11-28 22:59:21 · answer #2 · answered by Q1 2 · 0⤊ 0⤋
Business is business. I have been in the industry for 5 years and this does happen from time to time. I would not feel it is unethical if she is not providing the service ultimately that is going to be paid to her and as you sai you were misled by her.
Buying a bank owned property can get very sticky during the negotiations and also even during the escrow process. If you honestly feel that she is not capable of the transaction, then I would recommend that you find an agent that is capable of doing so. This transaction is a very big transaction and needs to be done by someone with the knowledge for your protection.
2007-11-28 21:39:17 · answer #3 · answered by DP_CA_AGENT 2 · 2⤊ 0⤋
That you have nothing in writing with her is rather irrelevant. She is the licensed professional to 'introduced you to the property' by the act of showing it to you. As such, she will be considered the 'procuring cause' for any transaction resulting on this property with you, and will be entitled to collect a commission from the listing agency.
A real estate agent is not responsible to give you financing assistance. That is the purview of a lender. As far as 'bidding' goes, this agent is most probably a representative of the seller and is being guided accordingly.
2007-11-28 21:44:50 · answer #4 · answered by acermill 7 · 2⤊ 0⤋
You don't have to work with her, but she is still entitled to her commission since she is "procuring cause" of your purchase. That means the person you do work with will probably owe most or all of their pay to your first agent who first showed you the house.
Seriously, there's not that much "expertise" in real estate. Just be a team player and work with the person who's been hauling your butt around for the past 2 months.
2007-11-28 23:07:07 · answer #5 · answered by Keep On Trucking 4 · 0⤊ 1⤋
business is business. if you think she is incompetent then let her go. simply tell that you don't think she is capable of providing the expertise service that your looking for. if you didn't sign a contract don't feel obligated to keep her as your agent. GOOD LUCK
2007-11-28 21:46:27 · answer #6 · answered by sunshine 3 · 0⤊ 0⤋
No contract, no legal obligation. Do what your conscious dictates.
2007-11-28 21:35:04 · answer #7 · answered by Ranger 7 · 0⤊ 0⤋
do not buy anything she showed you.
If you do, she has a legal right to her commission.
2007-11-29 15:46:16 · answer #8 · answered by thebigcheese1993 2 · 0⤊ 0⤋