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Old 04-25-2008, 11:42 AM
 
3 posts, read 9,686 times
Reputation: 10
Default Buyers Agent...Do I have to pay or Don't I

I am signed into a contract with a buyer agent. Last week I recieved a phone call from a home for sale by owner...that I had made an offer on prior to signing my contract, needless to say they are accepting my offer now...and now I don't know what to do...This is the house of my dreams..but they don't want to work with any agents...Does my buyer agent have any leg to stand on...that I made this offer prior to him...and he did nothing in regards to helping me find it...and if I do decided to buy it does it mean that he is still entitled to his 3.5%.

Help Me Please...I don't know what to do....Thanks!!!
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Old 04-25-2008, 11:49 AM
 
Location: Gorham, Maine
1,643 posts, read 2,569,996 times
Reputation: 1075
That's impossible to answer without you posting your entire agreement here. However the value a Buyer Agent brings is far more than finding you a home, from coordinating your financing, inspections, appraisal, closing, etc. and managing the process from contract to close.
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Old 04-25-2008, 12:15 PM
 
2,250 posts, read 2,521,995 times
Reputation: 379
Quote:
Originally Posted by isiaga070612 View Post
I am signed into a contract with a buyer agent. Last week I recieved a phone call from a home for sale by owner...that I had made an offer on prior to signing my contract, needless to say they are accepting my offer now...and now I don't know what to do...This is the house of my dreams..but they don't want to work with any agents...Does my buyer agent have any leg to stand on...that I made this offer prior to him...and he did nothing in regards to helping me find it...and if I do decided to buy it does it mean that he is still entitled to his 3.5%.

Help Me Please...I don't know what to do....Thanks!!!
What are the provisions in the buyer-brokerage agreement regarding such things?

Generally speaking, if compensation is covered in the agreement, you will owe the agent a commission specified in the agreement -- irrespective of the amount of work that has been performed.

This is not legal advice, nor should it be considered as such.
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Old 04-25-2008, 12:28 PM
 
Location: Salem, OR
10,767 posts, read 17,580,587 times
Reputation: 6620
Wow 3.5% is a lot that you agreed to.

It depends on whether or not your contract has any exclusions. Most are written up so that it is the Exclusive Right to Represent regardless of who finds the home.

We aren't going to be able to help you to much on this one as the fine print of the contract will determine the answer to that one.

Honestly, I would talk with your agent about continuing to represent you in dealing with the FSBO. I would see if they would reduce their commission rate, since you had made an offer on the house previously.
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Old 04-25-2008, 01:28 PM
 
Location: Southwest Pa
1,009 posts, read 2,153,428 times
Reputation: 543
I can make no personal statement regarding your situation. Read your contracts carefully and get legal opinion in your state if needed. With that....

In Pennsylvania, our Buyer's Agency Contract specifies...

...this contract applies to any property that Buyer chooses to buy during the term of this contract

The contract mentions a specific starting date and ending date. It also should mention compensation amounts due by you for just such a problem that you find yourself in.

...Broker's fee is earned........whether brought by Broker, Broker's agents or by any other person, including buyer.
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Old 04-25-2008, 02:50 PM
 
3 posts, read 9,686 times
Reputation: 10
Okay, here is a little more indepth of what is happening....I am currently getting an attorney for representation...because this buyer agent I found by looking for homes on my own...and he was the realtor of one of the houses that I wanted to see. So I called him and he toured me through a house that he had listed...the first time I seen it I didn't want to make an offer on it, so this is when he got me and signed me into contract as him being my buyer agent...and he was showing me houses and doing a wonderful job, but then we ended up back at the home he was listing, and this time I decided, I thought I wanted to make an offer...so he went home that night and wrote up a purchase agreement...when we got it, thank God from some excellent advice we did not sign it, first of all because it was only 50% of the way filled in, and then once really looked at there were many mistakes that after a phone call had to be changed and corrected???(Remember he was the selling agent of this home...and my "buying agent)...but he said that our contract would have to be ripped up because he could not party both sides, which I get....but we did not end up purchasing the home because my wife and I found that the price was just a little to expensive...and we explained that to him and he was okay with that...so the next week came and we started looking at houses again...this time we found another one we really liked and were interested in, so home he went a typed up another purchase agreement....and mind you sent this one to the seller of the home...making it sound like we were making an offer before anything was even signed....which I don't think was appropriate...because my wife and I wanted some time to make this big of a decision before commiting ourselves to something that we didn't know if we really wanted or not...and then....he started calling and calling and calling...he called my cell, my home, my wifes cell, it got out of hand, at least 50 times a day, then he decided to come to our present home...while here he questioned my integrity as man because I didn't call him, but I explained that my wife were really waying our options and apologized if it caused any inconvience to him, and then he went on to tell me to be a "real" Christian man....what does that mean? Well, to make a long story short since then many words have been exchanged, and I really don't want to work with him any longer....Either buying the FSBO home or any other home for that matter...
If I owe hime the money I will pay...no question asked, but I did ask him if I could pay him a hourly rate for the services rendered, and he refused that also...so I just don't know what to do anymore...If there is anymore advice I can get I would greatly appreciate it...thanks...(I know my laywer will answer a lot for me...but the more I know the better of I am!!!)
That was all he was doing for me was showing houses, because I have some else handling my morgage and all that good paperwork
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Old 04-25-2008, 03:04 PM
 
2,250 posts, read 2,521,995 times
Reputation: 379
Quote:
Originally Posted by isiaga070612 View Post
Okay, here is a little more indepth of what is happening....I am currently getting an attorney for representation...because this buyer agent I found by looking for homes on my own...and he was the realtor of one of the houses that I wanted to see. So I called him and he toured me through a house that he had listed...the first time I seen it I didn't want to make an offer on it, so this is when he got me and signed me into contract as him being my buyer agent...and he was showing me houses and doing a wonderful job, but then we ended up back at the home he was listing, and this time I decided, I thought I wanted to make an offer...so he went home that night and wrote up a purchase agreement...when we got it, thank God from some excellent advice we did not sign it, first of all because it was only 50% of the way filled in, and then once really looked at there were many mistakes that after a phone call had to be changed and corrected???(Remember he was the selling agent of this home...and my "buying agent)...but he said that our contract would have to be ripped up because he could not party both sides, which I get....but we did not end up purchasing the home because my wife and I found that the price was just a little to expensive...and we explained that to him and he was okay with that...so the next week came and we started looking at houses again...this time we found another one we really liked and were interested in, so home he went a typed up another purchase agreement....and mind you sent this one to the seller of the home...making it sound like we were making an offer before anything was even signed....which I don't think was appropriate...because my wife and I wanted some time to make this big of a decision before commiting ourselves to something that we didn't know if we really wanted or not...and then....he started calling and calling and calling...he called my cell, my home, my wifes cell, it got out of hand, at least 50 times a day, then he decided to come to our present home...while here he questioned my integrity as man because I didn't call him, but I explained that my wife were really waying our options and apologized if it caused any inconvience to him, and then he went on to tell me to be a "real" Christian man....what does that mean? Well, to make a long story short since then many words have been exchanged, and I really don't want to work with him any longer....Either buying the FSBO home or any other home for that matter...
If I owe hime the money I will pay...no question asked, but I did ask him if I could pay him a hourly rate for the services rendered, and he refused that also...so I just don't know what to do anymore...If there is anymore advice I can get I would greatly appreciate it...thanks...(I know my laywer will answer a lot for me...but the more I know the better of I am!!!)
That was all he was doing for me was showing houses, because I have some else handling my morgage and all that good paperwork
Abide by the contract. What are the provisions in it?
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Old 04-25-2008, 03:04 PM
 
Location: Barrington
18,160 posts, read 13,057,901 times
Reputation: 5867
Is this for real


You know what you have to do. Get your attorney involved.

What kind of agent goes home and types up offers? As an aside, how do you know this agent made an offer to a homeowner?
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Old 04-25-2008, 03:10 PM
 
3 posts, read 9,686 times
Reputation: 10
He told me, the reason he was calling me as much as he was, was because they were calling him that much....and then he told me that he had sent them one...in the midst of our conversation in my home
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Old 04-25-2008, 03:17 PM
 
Location: Barrington
18,160 posts, read 13,057,901 times
Reputation: 5867
Sounds like a whack job to me. His managing broker and local real estate board should be interested in hearing that he is presenting non-existent offers to owners....let your attorney guide you. Most have seen and heard it all.
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