Q: We?ve been looking at houses with my agent for a few months and she has not found anything suitable and is not available for showings as we would need her to be. She just sends us a list of possible matches then we do all the investigating and she just arranges the showing. We found a listing online and asked her about it. She couldn?t find any info, so I did my own investigating, contacted the owners directly and found they were selling on their own. I arranged to see the property with the owners. They want to work with us and if we decide to buy, go through real estate lawyers and title offices to complete the sale. I?ve signed no agreements with my agent and other than her trying to locate this property through regular methods unsuccessfully, I did all the work. Do I have any obligation to the agent if I want to buy this house from the owner.
?MSVP, Ohio
A: You don?t have an obligation , but Realtors are out there earning a living too ? and you would be foolish to go through the seller who ONLY cares about themselves. You should use your Realtor to represent YOUR interests ? i.e. make sure the property asking price is consistent with recent sales, arrange for an inspection of the property, and help you through the closing process. I hope this helps. Sincerely Leah Augusta, GA
Leah Layman is a Realtor? with Keller Williams Realty Augusta Partners in Augusta, GA.
A: If you did not sign a Buyer?s Agreement with your agent, nor did she give you information on the property that you had an interest in, I would say that you do not have any obligation to her. I will advise you to have your own lawyer or a representative walk you through the contracts and do not sign anything until you do. That is what the Realtor is for, to represent you during the buying process.
LeKaren Lockridge is a Realtor? with Trend Setter Realty in Houston, TX.
A: It sounds to me like your agent is not fulfilling her duties to you as a client. It is very important to work with an agent that represents you as an Exclusive Buyers Representative and who will do the work and the showings WITH you. Since you haven?t signed any agreements and the agent did now show you the property you found, I believe you have no obligation whatsoever to include the agent in the process or owe her any compensation. If the agent was the one who found the property AND showed it to you you may have a liability to pay her a commission, but it sounds like her inaction has left her out in the cold. I work as an Exclusive Buyer Representative and can help you negotiate the contract on your FSBO (For sale by owner) and make sure you are getting the property for a price that is fair. Most FSBO?s cooperate with EBR?s and are willing to pay their commission. It?s very important that you have representation. Most FSBO?s are looking for far more than their property is worth, so make sure you do the research to see what current Fair Market Value is, something that I do as part of my EBR duties. Contact me if you need any help or have any other questions.
Lou Sansevero is a Realtor? with Atchley International Realty in Lakewood Ranch, FL.
A: In California, you would have no obligation to your real estate agent assuming what you have said is correct. You could verify this through the lawyers used in the purchase of the for sale by owner property.
If you purchase that property, make sure you secure your own lawyer to represent you. The seller may be trying to save paying a real estate agent commission and may have a family lawyer friend or member that will represent the seller for free. This leaves you exposed so the seller can save money.
Typically, for-sale-by-owner properties sell for less and this is the reason why. Using a Realtor to purchase usually does not cost you anything because typically the seller?s broker pays your agent. Your case is different and thus you need to find a way to pay for professional guidance.
Adam Aguilar is a Realtor? with Reliantra in West Toluca Lake, CA.
A: You have no obligation to the agent if you haven?t signed any buyer agreement with her and you can buy from the owner, but you will have to make sure that your interests are protected by the title officers and lawyers, normally they are neutral in the transaction but your agent is not. The most important part of any Real Estate transaction is to have an agent to protect your interests and close successfully.
Rena Kovach is a Realtor? with Fairfax Realty in Vienna, VA.
A: Absent an agreement between you and the agent you are/working with, you would otherwise have no obligation to the agent. Perhaps they could, however, help arrange financing if necessary for you.
Mark Ruff is a Realtor? with Keller Williams in Studio City, CA.
A: Inform your agent that you have found a house on your own and do not need her services any longer. If she would demand commission ? talk to the broker. Also consider asking her to handle your transaction for reduced commission. George in Tucson
George Szkup is a?Realtor???in Tucson, AZ.
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