Changing agents (Dallas, Howe: real estate, rent, broker)

[jacob]

ok, here comes a question of real estate law / ethics.

I have seen 2 houses using one agent. But I dont like her. She is pushing me to buy a house without telling me much about it.

After that, I saw some more houses using another agent. He is not very responsive. I dont like him either.

Now, two of my friends have recommended their agents.

One said - this guy is very good, he is with remax, and had a good inspection contact, etc
Another friend referred another agent, saying this guy is ok but he gives 1% towards closing costs.

So I have 4 options now. Or find someone totally new. Or go by myself.
I have already talked to the seller's agent that I dont have an agent, and I will go myself, and the price that I am looking at.

What do i do now ? Who do I go with ? mom, socketz, anybody else what do you suggest ?

[stargazer]

If you have signed a contract with the agent who has been showing you around, you could be legally obligated unless there is some sort of way you can fire them. I know that my parents fired their agent who was selling their home. He gave them all kinds of flack and threatened them but in the end, he was fired and they went on and sold their home on their own. I do not know the perspective of using an agent to get a home here in Texas though. I do know in Florida we had a person look at our home who had a crummy agent and they would not send in an offer who wanted our house. Because of that, they went behind their back and talked with our agent. They got an offer together and made a bid. When their agent found about about it, who was on vacation, they still said they were entitled to 3 percent and would not back off. I know that real estate laws are different state to state and possibly you could fire them. I hope there is someone here who can explain that who knows the laws. I would like to know that too.

[jacob]

I have no contract signed.

[socketz]

I don't normally rec lying. However, I'd make something up and start ignoring the agents you do not feel comfortable with....or, simply tell them that your no longer interested in working with them.

The best one typically is "we've decided to just stay put and cancel our search until x" or if your moving from out of state "we've decided to just rent for a year and figure the area out"

Don't work with someone you do not like as this is a huge transaction, especially in an area like Dallas where you may buy the wrong home and get stick for years to come.

[Griff75]

If you don't have a contract signed, you are probably in the clear. Don't lie about why you are not retaining their service. Have the decency to tell the Realtor that you do not wish to use their services anymore (in a nice way). You may be helping one of her/his clients down the line by providing them with the constructive criticisim.

Do realize that in Texas, when an agent is showing you a listing and not bound by a buyer's rep, they actually ethically represent the seller. They are acting as a subagent of the seller and are not bound to hold any of your information confidential which of course could go against you in the long run. You can find more on this on the TREC website in the Information About Brokerage Services at:

http://www.trec.state.tx.us/formslaw...-contracts.asp

Realtors are required by the state to present this to any contact upon the first substantial discussion. If you do find a Realtor you like working with, you may want to enter into a buyer's representation with them. In the special provision section of the contract you can add a clause to the effect that either party may terminate the contract in 24 hours with written notice. There are clauses in the buyer's rep to keep buyers from terminating and going around the broker to buy the house. The buyer's rep really is fair to both parties as long as both parties are ethical in their dealings.

I hope that helps. There are good, honest Realtors out there. I know one

[dallasite]

Terrific information! I have been very hesitant to sign a buyer's rep agrement myself, for fear that the agent doesn't offer what I need. The ones I've read really have no escape clause in that event. Thanks for the information. It's tough to decide initially if one real estate agent will be best for you. He/she has to know the area, be available, willing and able to provide critical data, have experience negotiating and reading contracts, etc. These factors don't seem like they can be determined simply by talking with someone or even viewing homes with them. If any of those items are lacking in an agent, I'm the one that will likely (or possibly could) be paying the consequences....and potentially at a long time at that. I think I'm more hesitant than I should be, but I'm afraid of bad consequences.

[socketz]

Originally Posted by Griff75

Do realize that in Texas, when an agent is showing you a listing and not bound by a buyer's rep, they actually ethically represent the seller. They are acting as a subagent of the seller and are not bound to hold any of your information confidential which of course could go against you in the long run.

This is true of 'agency' in CA as well and technically correct if you were to answer a question on the RE license exam, however, in reality most good agents see the buyer as a long term prospect worth at least 3-4 more future transactions, so I'm not sure how much the agent really aligns with the seller of the home.

Nonetheless, buying a home is a large and very personal endeavor. Almost all of the agents (except for one, the first one I used - learned a lesson) I've used in my life have now become personal friends of mine. You have to trust this person and it's hard to trust someone that you cannot bond with....likewise, they have to bond with you as well, or it will be an arduous experience for them as well. When I sold homes, I used to really struggle with this aspect of the job (that and working 12-14 hour days on weekends and working every weeknight). If I couldn't bond, the job seemed so much more difficult to me.