How to Change Realtors in NJ (for sale, real estate, condos)

[taurus430]

I'm looking for a condo in an adult community. We took a ride through one and saw some condos for sale so DW called the number, it being the listing agent. As a buyer, I prefer not to work with a listing agent, but she also was on vacation in FL. She did say she'd send someone else over from her office, and since we didn't know the area to find a realtor, we asked to see some condos that I found online. Well she showed us a few empty condos, and we liked 2, so went back for a second look, using the same realtor that showed us. We liked one and put an offer in, somewhat low, but not that bad. The original listing agent was back but we continued with her co worker. There is furniture involved, but the sellers agent told my agent not to include it i the contract. The offer was presented to the seller, who is on vacation out west. This is an estate sale, BTW. I got a call this morning and my agent said the offer was low and the seller will not counter. I thought this was bad not countering to try to get me to come up. Also my agent said she would work as my buying agent, but she works "closely" with the listing agent, same office. I did sign a dual agent something, but I don't think I signed an exclusive buyer broker agreement, which I just learned about today. Should i have a copy of this agreement? My agent suggested I put in a new offer, but I refused since I found it odd no counter offer. The seller said the offer was to low for the house being on the market for 10 days. For it being an estate sale, a cash purchase, and short closing. Any suggestions, especially on this agreement as I don't care working out of the listing agents office?

[jaymoney]

If the selling and buying agents are the same office they can legally offer you no advice and you just lost your best advocate on this house.
‘Dual agency’ poses a host of ethical risks - Real Estate Home - NorthJersey.com

If you like this place, look into a new agent not involved with the selling agent. It won't cost you anything and you'll get someone who can legally offer you advice on pricing.

[NYCresident2014]

Just call an agent at an unrelated agency, they'll sort it all out and will be happy to have your business.

As far as refusing to give a second offer because you are offended that the sellers didn't counter, if you actually want this house you need to avoid getting caught up in emotion. You should figure out what you believe the house is worth, and offer that (or slightly below that). Too many people think negotiation is a game that requires each party to abide by a script, but the ultimate goal is to get to the right price. You can offer the right price and just walk away if you don't get it. But don't be upset if the other party disagrees with your assessment of the value, especially so early in the listing.

[davenj08]

From what I was told a few years ago when house hunting, the realtor who showed you the house can legally come after you for commission, even if you now use another agent to buy the house. You are free to use another realtor and place an offer on houses you haven't seen yet. But for this one in particular, you are obligated to use this realtor. You have the option of using another realtor, but be upfront with the new realtor and tell him/her about your situation. There is a chance he might split his commission with your old realtor and they can settle or the old one might want the whole pie and chase you down.

[jaymoney]

Originally Posted by davenj08

From what I was told a few years ago when house hunting, the realtor who showed you the house can legally come after you for commission, even if you now use another agent to buy the house. You are free to use another realtor and place an offer on houses you haven't seen yet. But for this one in particular, you are obligated to use this realtor. You have the option of using another realtor, but be upfront with the new realtor and tell him/her about your situation. There is a chance he might split his commission with your old realtor and they can settle or the old one might want the whole pie and chase you down.

But if it's a dual agency, the agency is only getting half the 6% commission anyway, so there's nothing to split.

[davenj08]

Originally Posted by jaymoney

But if it's a dual agency, the agency is only getting half the 6% commission anyway, so there's nothing to split.

In case of dual agency, the agency gets full 6% because they represent both sell & buy side.

[EANJ]

Originally Posted by taurus430

I'm looking for a condo in an adult community. We took a ride through one and saw some condos for sale so DW called the number, it being the listing agent. As a buyer, I prefer not to work with a listing agent, but she also was on vacation in FL. She did say she'd send someone else over from her office, and since we didn't know the area to find a realtor, we asked to see some condos that I found online. Well she showed us a few empty condos, and we liked 2, so went back for a second look, using the same realtor that showed us. We liked one and put an offer in, somewhat low, but not that bad. The original listing agent was back but we continued with her co worker. There is furniture involved, but the sellers agent told my agent not to include it i the contract. The offer was presented to the seller, who is on vacation out west. This is an estate sale, BTW. I got a call this morning and my agent said the offer was low and the seller will not counter. I thought this was bad not countering to try to get me to come up. Also my agent said she would work as my buying agent, but she works "closely" with the listing agent, same office. I did sign a dual agent something, but I don't think I signed an exclusive buyer broker agreement, which I just learned about today. Should i have a copy of this agreement? My agent suggested I put in a new offer, but I refused since I found it odd no counter offer. The seller said the offer was to low for the house being on the market for 10 days. For it being an estate sale, a cash purchase, and short closing. Any suggestions, especially on this agreement as I don't care working out of the listing agents office?

Find a "buyer's agent" -- that way you don't have to "work with a listing agent" as per your preference.

[taurus430]

Well I went on the Internet to see what this NJ form for an agreement looks like. We do not remember this form at all nor do we have a copy of this exclusive agent agreement. It has numbers on the side like the standard contract has, never signed one. Now I contacted another office and told them the situation. As mentioned, the listing agent was away, so she sent someone over to meet with me, but in doing the offer, and it getting rejected, I don't feel the stand in agent was working for me. We will see when I get with the new agent through their broker what they say. The listing office will still get half the commission no matter what. It's up to the listing agent and who she sent over to split that commission. Thanks for your replies, and any further ones.

[EANJ]

"don't feel the stand in agent was working for me" -- if you want any agent to work for you, then a buyer's agent might be your best bet.

Good luck.

[Karen123RE]

"My agent suggested I put in a new offer, but I refused since I found it odd no counter offer. The seller said the offer was to low for the house being on the market for 10 days. For it being an estate sale, a cash purchase, and short closing. Any suggestions.."

This scenario happens often when someone low balls on a home that has been on the market a short period of time. The seller is offended and will not consider a counter, thinking that a better offer could still appear. Usually, if the buyer really likes the house and the asking price is a fair price, the buyer will come back a second time with a stronger offer. At this point, the seller then starts the negotiations and the buyer and seller come to a meeting of the minds.