Am I entitled to bring in my own real estate agent after a showing by the listing agent?

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rgs92
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Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by rgs92 »

If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer?
Can the listing agent insist they want to be the only agent involved?
Also, more specifically, if a listing agent shows me a house, could I, for example, bring in Redfin later to re-show the house and represent me if I made an offer?
Thank you.
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jfn111
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by jfn111 »

You can do whatever you want if you didn't sign a buyer rep agreement. The listing agent may deny paying the other agent any commission if they feel they were the procuring cause of you buying the property.
Now....the tricky part. If you sign the buyer rep agreement with the new agent you brought in you could end up paying him/her the commission out of your pocket.
Kookaburra
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Kookaburra »

Whenever attending an open house or listing, you should state that you are already represented. And if they make you “sign in” on a visitor log, you should also write that you are already represented.
Northern Flicker
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Northern Flicker »

rgs92 wrote: Wed Aug 19, 2020 6:03 pm If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer?
Can the listing agent insist they want to be the only agent involved?
Also, more specifically, if a listing agent shows me a house, could I, for example, bring in Redfin later to re-show the house and represent me if I made an offer?
Thank you.
Yes, as long as you don't sign something presented by the listing agent waiving the ability to be represented by someone else (sometimes happens with new condo sales). It is however not in your interest to have the listing agent present when you look at the house. You may inadvertantly or unknowingly divulge information that compromises your bargaining position.
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rgs92
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by rgs92 »

OK, thanks for the quick response. So just to be sure, as long as I don't sign anything, I am safe to anything I want.
I usually just see houses that I am interested in by just calling the listing realtor and meeting them there. Nothing is in writing.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by UpperNwGuy »

rgs92 wrote: Wed Aug 19, 2020 6:23 pm OK, thanks for the quick response. So just to be sure, as long as I don't sign anything, I am safe to anything I want.
I usually just see houses that I am interested in by just calling the listing realtor and meeting them there. Nothing is in writing.
Do you have your own agent yet? If not, get one. Don't wait until you locate a house.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by ResearchMed »

Kookaburra wrote: Wed Aug 19, 2020 6:21 pm Whenever attending an open house or listing, you should state that you are already represented. And if they make you “sign in” on a visitor log, you should also write that you are already represented.
When we went to any Open House without our own agent, we always signed in... with our name scribbled almost illegibly, and then our agent's name, clear as could be.
And if there was any conversation (often there was not), we'd also mention our agent.

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7eight9
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by 7eight9 »

Be sure to tell your prospective buyer's agent that you have already seen the property with the listing agent. :happy
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Cruise »

Kookaburra wrote: Wed Aug 19, 2020 6:21 pm Whenever attending an open house or listing, you should state that you are already represented. And if they make you “sign in” on a visitor log, you should also write that you are already represented.
For any realtors on this board, why do agents ask people to sign-in to the log? I assume that agents are prospecting for future customers or trying to document their work to sell a home. Any other reasons?
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rgs92
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by rgs92 »

OK, thanks for the advice. I assume it's a good idea to make sure any agreement with an agent should be specifically classified as non-exclusive.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by adamthesmythe »

Cleanest is to (1) have an agreement with a buyer's agent and (2) declare on first contact that you are represented.

Seems to me...if you call the seller's agent...and he makes a trip to open the house and show it to you...he is doing some of the work of the buyer's agent.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by illumination »

I don't fully understand the laws on this, but locally this has become something of a "gotcha" where people unknowingly sign into some sort of exclusive agreement.

I had a family member that was purchasing a home, and their broker was sued over it. Basically a buyer seeing an open house, popping in on their own to check it out and then later bringing in a broker to close the deal. The whole thing was incredibly sleazy and sounded like a con, but the person got a cash settlement because the broker just thought it was cheaper than litigation.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by jfn111 »

Cruise wrote: Wed Aug 19, 2020 6:37 pm
Kookaburra wrote: Wed Aug 19, 2020 6:21 pm Whenever attending an open house or listing, you should state that you are already represented. And if they make you “sign in” on a visitor log, you should also write that you are already represented.
For any realtors on this board, why do agents ask people to sign-in to the log? I assume that agents are prospecting for future customers or trying to document their work to sell a home. Any other reasons?
That's it. We are hoping to find future customers that don't have an agent. In today's world we also need names for potential virus tracing. (I don't hold open houses anymore).
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by J295 »

rgs92 wrote: Wed Aug 19, 2020 6:23 pm OK, thanks for the quick response. So just to be sure, as long as I don't sign anything, I am safe to anything I want.
I usually just see houses that I am interested in by just calling the listing realtor and meeting them there. Nothing is in writing.
In our city this would be considered “bad form.” The generally accepted method here is for you to have your buyer’s agent take you to the home.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by jfn111 »

Northern Flicker wrote: Wed Aug 19, 2020 6:22 pm
rgs92 wrote: Wed Aug 19, 2020 6:03 pm If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer?
Can the listing agent insist they want to be the only agent involved?
Also, more specifically, if a listing agent shows me a house, could I, for example, bring in Redfin later to re-show the house and represent me if I made an offer?
Thank you.
Yes, as long as you don't sign something presented by the listing agent waiving the ability to be represented by someone else (sometimes happens with new condo sales). It is however not in your interest to have the listing agent present when you look at the house. You may inadvertantly or unknowingly divulge information that compromises your bargaining position.
That isn't true at all. You don't have to have a signed contract to be the "procuring cause" for the sale.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by xerxes101 »

J295 wrote: Wed Aug 19, 2020 7:39 pm
In our city this would be considered “bad form.” The generally accepted method here is for you to have your buyer’s agent take you to the home.
I wanted to mention this also, what is "customary" in one state may not always be the same in other states. For example, in my personal experience, California is a very buyer friendly state as far as real estate transactions, but state of Virginia is completely the opposite, it is more seller friendly. So this translates into nuances in a real estate transaction which are completely locale dependent. But I do agree with most that generally if OP has not signed with an agent yet, he is free to get a buyer's agent involved later.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by simas »

rgs92 wrote: Wed Aug 19, 2020 6:03 pm If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer?
Can the listing agent insist they want to be the only agent involved?
Also, more specifically, if a listing agent shows me a house, could I, for example, bring in Redfin later to re-show the house and represent me if I made an offer?
Thank you.
Could you elaborate on why you think it would matter to listing agent? The price is the price is the price, bring whoever you want , including relatives, friends, grandma, etc. if you want to make an offer then make an offer, it is not like you are getting a lower price because you with with/without another agent..
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Starfish »

Isn't being represented by the selling agent illegal? Or at least a bad idea?
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Jack FFR1846 »

You can work with 12 agents trying to buy a house. If you sign in on your own to an open house, the listing agent will take both sides of the sale. DW and I were on a 1 week house hunting trip. We were serious about buying and flew in on a Saturday. We went around with one agent who showed us "all the houses" in our budget. We then found a second agent and went with them on monday and saw "all the other houses" in our budget. We then contacted a 3rd agent and were shown "all the other still" houses in our budget and found one we really liked, made an offer which was accepted on the Tuesday. Since we were going to be there for the week, we then went off to Busch Gardens for a couple days. In any case, the first 2 agents we went with (no contract) got zip. As it turned out, the agent we were with was with the listing brokerage. So that one brokerage took the entire commission.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Sandtrap »

You are entitled to anything as long as you do not sign a contract or agreement with anyone.
Verbal doesn’t count. Paper and pen do.

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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by 7eight9 »

Starfish wrote: Thu Aug 20, 2020 1:30 am Isn't being represented by the selling agent illegal? Or at least a bad idea?
Dual agency is a situation to describe when a real estate agent works with both the buyer and the seller. Most people familiar with the housing market know that a buyer's agent works for the buyer, a listing agent for the seller, but there's a third category that's much more mysterious: the dual agent. ... Certain states (but not all) permit dual agency as long as it's disclosed to both buyers and sellers.
https://www.realtor.com/advice/buy/dual ... al%20agent.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by kaudrey »

xerxes101 wrote: Wed Aug 19, 2020 8:04 pm
J295 wrote: Wed Aug 19, 2020 7:39 pm
In our city this would be considered “bad form.” The generally accepted method here is for you to have your buyer’s agent take you to the home.
I wanted to mention this also, what is "customary" in one state may not always be the same in other states. For example, in my personal experience, California is a very buyer friendly state as far as real estate transactions, but state of Virginia is completely the opposite, it is more seller friendly. So this translates into nuances in a real estate transaction which are completely locale dependent. But I do agree with most that generally if OP has not signed with an agent yet, he is free to get a buyer's agent involved later.
Can you elaborate what makes Virginia seller friendly? We live in NoVA and are thinking of moving to another part of NoVa, so we will be selling our place (which I bought 20 years ago, moving from CT), and buying at the same time. I've been looking at houses online, and was thinking we'd just contact the listing agents to see some of them, but are you saying we shouldn't do that? Thanks.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by pshonore »

You can use any agent to show you a house, BUT that agent will then be entitled to the selling share (50%) of commission as they will claim they were the "procuring cause" of the sale. Years ago, I was a listing agent on a house that got an offer through another agency (very common). The lowball offer was rejected. For some reason unknown to me, the same buyers then used a second agent to submit a better offer which was accepted. The first agent sued and wound up with the selling agents share of the commission. YMMV.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by xerxes101 »

kaudrey wrote: Thu Aug 20, 2020 9:40 am
xerxes101 wrote: Wed Aug 19, 2020 8:04 pm
J295 wrote: Wed Aug 19, 2020 7:39 pm
In our city this would be considered “bad form.” The generally accepted method here is for you to have your buyer’s agent take you to the home.
I wanted to mention this also, what is "customary" in one state may not always be the same in other states. For example, in my personal experience, California is a very buyer friendly state as far as real estate transactions, but state of Virginia is completely the opposite, it is more seller friendly. So this translates into nuances in a real estate transaction which are completely locale dependent. But I do agree with most that generally if OP has not signed with an agent yet, he is free to get a buyer's agent involved later.
Can you elaborate what makes Virginia seller friendly? We live in NoVA and are thinking of moving to another part of NoVa, so we will be selling our place (which I bought 20 years ago, moving from CT), and buying at the same time. I've been looking at houses online, and was thinking we'd just contact the listing agents to see some of them, but are you saying we shouldn't do that? Thanks.
So, my strategy for buying a house and selling a house in NoVA is as follows (bear in mind that I am not a real estate professional, but I do look at real estate transactions as a major investment. Some people say that personal residence should not be viewed as an investment which I do not agree with at all). To purchase a house, I would definitely work with a buyer's agent whom I trust and I feel comfortable with (his or her commission is not coming out of my pocket anyways and I believe if you find the right agent, they could really add some value to your new purchase. You have to work hard at finding such a good agent who understands your needs...could be a lot of legwork). To sell a house, however, I'd rather go with an outlet such as RedFin or even go for sale by owner if you know a good real estate attorney to navigate you through the transaction process, because you are trying to maximize your gain and the commission(s) is coming out of your pocket....Now this strategy may not be all that unique to NoVA, but I believe it may work differently in different states when you are trying to sell. VA is more seller friendly than CA when it comes down to disclosures prior to sale. CA is a lot more stringent in this area.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by jbourne99 »

simas wrote: Wed Aug 19, 2020 9:36 pm ...it is not like you are getting a lower price because you with with/without another agent..
If you buy through redfin you get rebated a percentage. They have a calculator on their website that will show you what you will get and it is tax free so it actually is getting a lower price. That is probably why this whole thread exists.

Redfin used to rebate a good amount but what redfin offers currently though is quite low and in 15 minutes of searching in my local area and a couple e-mails I found agents willing to rebate much higher.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Northern Flicker »

jfn111 wrote: Wed Aug 19, 2020 7:51 pm
Northern Flicker wrote: Wed Aug 19, 2020 6:22 pm
rgs92 wrote: Wed Aug 19, 2020 6:03 pm If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer?
Can the listing agent insist they want to be the only agent involved?
Also, more specifically, if a listing agent shows me a house, could I, for example, bring in Redfin later to re-show the house and represent me if I made an offer?
Thank you.
Yes, as long as you don't sign something presented by the listing agent waiving the ability to be represented by someone else (sometimes happens with new condo sales). It is however not in your interest to have the listing agent present when you look at the house. You may inadvertantly or unknowingly divulge information that compromises your bargaining position.
That isn't true at all. You don't have to have a signed contract to be the "procuring cause" for the sale.
Would that apply to a listing agent and buyer's agent? I'd be surprised if a listing agent can prevent a buyer from being represented because they showed the house.

Regardless, I think the OP has a misguided view that there is a benefit and no downside to the strategy.
Risk is not a guarantor of return.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by jfn111 »

Northern Flicker wrote: Thu Aug 20, 2020 12:22 pm
jfn111 wrote: Wed Aug 19, 2020 7:51 pm
Northern Flicker wrote: Wed Aug 19, 2020 6:22 pm
rgs92 wrote: Wed Aug 19, 2020 6:03 pm If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer?
Can the listing agent insist they want to be the only agent involved?
Also, more specifically, if a listing agent shows me a house, could I, for example, bring in Redfin later to re-show the house and represent me if I made an offer?
Thank you.
Yes, as long as you don't sign something presented by the listing agent waiving the ability to be represented by someone else (sometimes happens with new condo sales). It is however not in your interest to have the listing agent present when you look at the house. You may inadvertantly or unknowingly divulge information that compromises your bargaining position.
That isn't true at all. You don't have to have a signed contract to be the "procuring cause" for the sale.
Would that apply to a listing agent and buyer's agent? I'd be surprised if a listing agent can prevent a buyer from being represented because they showed the house.

Regardless, I think the OP has a misguided view that there is a benefit and no downside to the strategy.
It's not about being "represented" but about who gets the commission. In my market any commission disputes goes in front of a panel, at our local real estate association, to determine who gets the commission. If you call the listing agent for a tour of the home. They take the time to walk you thru and sell you on the features of the home they can claim they are the procuring cause of you buying the property. If, on the other hand, they are holding an open house and just wave at you as you walk thru it's a harder sell to claim the commission.
The one thing the panel always looks at is who showed the property? If you spend an hour with the listing agent, then call the discount agent who never goes to the house, it's a pretty easy decision on who was the procuring cause.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by simas »

jbourne99 wrote: Thu Aug 20, 2020 11:39 am
simas wrote: Wed Aug 19, 2020 9:36 pm ...it is not like you are getting a lower price because you with with/without another agent..
If you buy through redfin you get rebated a percentage. They have a calculator on their website that will show you what you will get and it is tax free so it actually is getting a lower price. That is probably why this whole thread exists.

Redfin used to rebate a good amount but what redfin offers currently though is quite low and in 15 minutes of searching in my local area and a couple e-mails I found agents willing to rebate much higher.
ok, I can see on how this applies to homes listed by redfin (they spend less on marketing and services and therefore try to charge less, 'rebating' you)

how does this apply to another brokerage listing a house? a buyer does not get anything lower in price because you went with brokerage A, B, or your cousin... your buying agent can cut you whatever deal you want (including flowers, checks ,rebates, whatever), from listing agent perspective, it is irrelevant...
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by rich126 »

In most cases there is a commission paid by the seller of the property. Typically it is 6% but can vary. Then that commission is usually split 50/50 between the agent representing the seller and the agent representing the buyer. If a buyer sees a house and doesn't disclose they already have an agent, you get into problems. Why? Well because $$$. The seller agent is now expecting to pocket the entire 6% since the potential buyer didn't have an agent with them or said anything about having an agent.

Rebates and the like comes out of the original agreed commission. If it was 6%, sometimes the selling agent will agree to only charge the buyer 5% if they also find a buyer w/o any agent (essentially representing both sides of the transaction).

Part of this is why some people prefer involving a real estate attorney when you buy a place since agents are usually paid by the seller and thus are compromised somewhat in what they may do.

Sometimes people use a discount agent and in that case they may charge the seller less on their side of the transaction. They may agree to only taking 1 or 2% of the sales price as commission but they may also ask you how much you are willing to give the buyer's agent. If you aren't willing to pay 3% or the going rate then some agents may not be willing to show that house to the buyer. Yeah, it is a messy situation.

And a lot of buyers and sellers aren't the greatest people to deal with, they are often looking for people to do work but then don't want to pay them. Like anything in life, when money gets involved you find out how bad people behave (buyers, sellers, agents, etc.).

And none of this is "free" money, it is coming from somewhere. First from the seller (usually) and then (kind of) from the seller's agent.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Regattamom »

simas wrote: Wed Aug 19, 2020 9:36 pm
rgs92 wrote: Wed Aug 19, 2020 6:03 pm If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer?
Can the listing agent insist they want to be the only agent involved?
Also, more specifically, if a listing agent shows me a house, could I, for example, bring in Redfin later to re-show the house and represent me if I made an offer?
Thank you.
Could you elaborate on why you think it would matter to listing agent? The price is the price is the price, bring whoever you want , including relatives, friends, grandma, etc. if you want to make an offer then make an offer, it is not like you are getting a lower price because you with with/without another agent..
Because if you live in a state where the listing agent can represent both parties, the listing agent gets the full commission (usually 5 - 6 percent) instead of splitting it with a buyers agent. On a $400,000 house at 5 percent, that's a $10,000 difference.

And FWIW, agents don't keep that full amount. Where I live, agents split their percentage with their brokers.

And we always say that the seller pays the fees, but in reality I think the buyer pays because of an inflated price to offset the commission.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by EddyB »

simas wrote: Wed Aug 19, 2020 9:36 pm
rgs92 wrote: Wed Aug 19, 2020 6:03 pm If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer?
Can the listing agent insist they want to be the only agent involved?
Also, more specifically, if a listing agent shows me a house, could I, for example, bring in Redfin later to re-show the house and represent me if I made an offer?
Thank you.
Could you elaborate on why you think it would matter to listing agent? The price is the price is the price, bring whoever you want , including relatives, friends, grandma, etc. if you want to make an offer then make an offer, it is not like you are getting a lower price because you with with/without another agent..
First, a buyer’s agent may advise on the price rgs92 decides to offer. Second, there are non-price terms, and supposedly the whole transaction is sufficiently complicated that only specially-licensed personnel are allowed to assist with it. So, if a buyer indicates that she or he only wants to make an offer if represented by a buyer’s agent, that’s a seemingly necessary condition to the occurrence of the purchase.

Edit to add: I took it as implicit that the fundamental reason it matters to a listing agent is that the buyer's agent would expect a piece of the commission.
Last edited by EddyB on Thu Aug 20, 2020 4:37 pm, edited 1 time in total.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by retiredjg »

rgs92 wrote: Wed Aug 19, 2020 6:23 pm OK, thanks for the quick response. So just to be sure, as long as I don't sign anything, I am safe to anything I want.
I usually just see houses that I am interested in by just calling the listing realtor and meeting them there. Nothing is in writing.
Real estate has local rules and expectations, but I think this is just asking for trouble. This is NOT the same thing as showing up at an open house. That would be OK.

It is not fair (in my opinion) to use the listing agent's time if you already decided to use someone else, even if that someone else is unknown.

I would not meet a listing agent there unless that agent knows you are already represented. In which case, they likely will not meet you.

Or the reverse, if the agent you decide to use finds out you have already met the listing agent at the property, they may decide not to represent you.

Things may have changed, but that is what I learned earlier in life.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by TropikThunder »

retiredjg wrote: Thu Aug 20, 2020 4:25 pm Or the reverse, if the agent you decide to use finds out you have already met the listing agent at the property, they may decide not to represent you.
Exactly. Because that tells the buyers agent that they may have to fight to get their share of the commission.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by bsteiner »

The broker's job is to find a buyer for the house. You could have a broker show you houses, but a broker has already shown you this house.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by JoMoney »

Real estate laws differ from state to state.
In some places the selling/listing agent CAN'T also be the buyers agent unless the buyer sign waivers to the effect acknowledging the conflict of interests.
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Wade Garrett »

I find this thread very strange. What if a buyer doesn't have an agent? Can a buyer without an agent not contact the seller's rep to arrange a time to see the house without that constituting the buyer forgoing some additional % of the sale price if an offer to the seller is eventually made and agreed upon?
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adamthesmythe
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by adamthesmythe »

Wade Garrett wrote: Thu Aug 20, 2020 5:47 pm I find this thread very strange. What if a buyer doesn't have an agent? Can a buyer without an agent not contact the seller's rep to arrange a time to see the house without that constituting the buyer forgoing some additional % of the sale price if an offer to the seller is eventually made and agreed upon?
That's kind of confusing but I think you're thinking of the strategy where the buyer gets the house for 3% less because there's no buyer's agent commission.

This does not often (rarely?) works in practice because the usual listing agreement gets the seller's agent 3% if he has to split with the buyer's agent OR 6% if there is no buyer's agent (dual agency). Some (few?) seller's agents may be willing to deal. Some won't.

Replace 6 by 5 if you negotiate the commission down (which seems to be easy these days).
TropikThunder
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by TropikThunder »

adamthesmythe wrote: Thu Aug 20, 2020 6:55 pm
Wade Garrett wrote: Thu Aug 20, 2020 5:47 pm I find this thread very strange. What if a buyer doesn't have an agent? Can a buyer without an agent not contact the seller's rep to arrange a time to see the house without that constituting the buyer forgoing some additional % of the sale price if an offer to the seller is eventually made and agreed upon?
That's kind of confusing but I think you're thinking of the strategy where the buyer gets the house for 3% less because there's no buyer's agent commission.

This does not often (rarely?) works in practice because the usual listing agreement gets the seller's agent 3% if he has to split with the buyer's agent OR 6% if there is no buyer's agent (dual agency). Some (few?) seller's agents may be willing to deal. Some won't.

Replace 6 by 5 if you negotiate the commission down (which seems to be easy these days).
Exactly. There seems to be this persistent thread of comments thinking that if you as the buyer don’t have an agent, that you’ll save money on the purchase price. That’s not reality. Obviously as they say real estate is local, but the (boiler plate) selling agreement pretty much always quotes a specific commission (5-6% most often) and how that commission will be split if the selling agent is not also the procuring agent (meaning the person who brought the buyer to the table).

Smart realtors will have a partner at their brokerage that they can “refer” a buyer to so that the buyer “has a representative” in the transaction. But they do this for each other, I get half of yours and you get half of mine, and the broker gets their cut too. Realtors don’t do this for fun, you’re not taking half of their commission for yourself just because you didn’t bring an agent.
techrules
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by techrules »

I for one am hoping the buyer/seller agents go the way of the dinosaur.
With everything moving online, I dont know why an agent can pocket 3-6% of a house price just for having a cheap license.
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Flobes
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Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Post by Flobes »

7eight9 wrote: Thu Aug 20, 2020 8:25 am
Starfish wrote: Thu Aug 20, 2020 1:30 am Isn't being represented by the selling agent illegal? Or at least a bad idea?
Dual agency is a situation to describe when a real estate agent works with both the buyer and the seller. Most people familiar with the housing market know that a buyer's agent works for the buyer, a listing agent for the seller, but there's a third category that's much more mysterious: the dual agent. ... Certain states (but not all) permit dual agency as long as it's disclosed to both buyers and sellers.
https://www.realtor.com/advice/buy/dual ... al%20agent.
Dual agency represents both parties simultaneously, in an attempt to act in both the buyer and seller’s best interest at the same time on the same transaction. Obvious challenges and conflicts here, attempting to act in both seller's and buyer's best interest at the same time.

There's a fourth category in some states: transaction broker. Essentially the transaction broker is working for the deal by facilitating negotiations between seller and buyer, without representation allegiance or a fiduciary relationship to either side. There are confidentiality requirements in effect. It's often within the listing contract that if the listing broker brings forth a buyer, that relationship will automatically change to transaction broker from listing broker.
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