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We are moving to Colorado. I found an Exclusive Buyers Agent. He does not have listings. I sent him a list of houses I wanted to see. We saw those on day 1. I found a few more and he found 5 more and we saw 3 of those on day 2. On day three, we decided we wanted to build and we called the builders to meet with them and told our agent where we were meeting and when. The builder we want to go with does not pay a commission to any agent of any sort. I am having a problem with the agent wanting me to pay the 3%. I have done all the work besides a few hours of his time driving us around letting us in some homes for 2 days. I would have no problem with him getting the percentage if the builder wants to pay it but don't feel I should have to. He is a nice guy and I am willing to pay him for his time. I have done all the work! Even in meeting with the builders, he never said a word! We have not signed anything with the agent or the builder. What should I do??? I am willing to pay the agent something for his time. Are there legal requirements in CO?
We are moving to Colorado. I found an Exclusive Buyers Agent. He does not have listings. I sent him a list of houses I wanted to see. We saw those on day 1. I found a few more and he found 5 more and we saw 3 of those on day 2. On day three, we decided we wanted to build and we called the builders to meet with them and told our agent where we were meeting and when. The builder we want to go with does not pay a commission to any agent of any sort. I am having a problem with the agent wanting me to pay the 3%. I have done all the work besides a few hours of his time driving us around letting us in some homes for 2 days. I would have no problem with him getting the percentage if the builder wants to pay it but don't feel I should have to. He is a nice guy and I am willing to pay him for his time. I have done all the work! Even in meeting with the builders, he never said a word! We have not signed anything with the agent or the builder. What should I do??? I am willing to pay the agent something for his time. Are there legal requirements in CO?
Trina
If you don't have a written legal contract to pay him, then you have no obligation to pay him. If 3% doesn't work for you, tell him what you are willing to pay him for his time.
BiggJoe4181,
He is a local builder. Not a big time builder. The agent didn't bring us to the builder. We brought the agent to the builder. We told the agent about this builder and where and when to meet with us. He is a nice guy but has done no leg work. We have done all the research and just brought him along for the ride.
BiggJoe4181,
He is a local builder. Not a big time builder. The agent didn't bring us to the builder. We brought the agent to the builder. We told the agent about this builder and where and when to meet with us. He is a nice guy but has done no leg work. We have done all the research and just brought him along for the ride.
Ahh I see. Regardless of who brought whom, If I was the builder I would do everything in my power to make sure that the realtor came back to me with buyers in the future by paying a nice big ole' fat commission now.
While your agent may not have done a lot of leg work in your inital house search they will pay off in spades for you dealing with the paperwork, scheduling inspections, scheduling closings, etc. etc.
Finding a house is the easy part. If that's all there was to being an agent everyone would be one.
1. I bet there is a buyer agency contract.
2. I bet this builder will cause trouble
3. Finding the house is the buyers job, getting to closing is the brokers job.
4. There is a way to ask the builder to credit the buyer so that they pay the broker.
I know it's hard to understand, but you get to live in the house, you hired a professional to get the whole job done, not just find you a house.
That's a builder that won't be around for very long.
Be weary of a builder that doesn't want you to have representation.
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