Do I have to use the listing agent if they show me the house? (real estate, mortgage broker)
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I had a listing agent show me a house in the bronx this past week. Am I obligated to use her as my representative?
I am able to secure a buyers' agent but I opted not to use one for the viewing for certain reasons. If it would benefit me more, I would use a buyers' agent's representation to place an offer and proceed from there.
Thanks for any help.
I'm a licensed Realtor from across the country, but it's probably the same thing when it comes to this. Unless you're already under a contract with a buyer's agent, which seems like you are not, you need to use the listing agent. If you get another agent, they might have problems later on about who is entitled to the commission cause the listing agent can argue he was what they call a procuring cause, which means he was the one responsible for selling you the home, since he was the one to spend time with you and show you around, like he was the one to do the work basically so he's the one that should get paid.
Thanks for your response.
This is what I was concerned about. I think it can still work out well for me. I have an attorney and I'm getting a home inspection so it's not like she could pull the wool over my eyes.
What it all comes down to is that she will get a higher comission in the end by representing both parties. Let's see how this plays out!
I'm a licensed Realtor from across the country, but it's probably the same thing when it comes to this. Unless you're already under a contract with a buyer's agent, which seems like you are not, you need to use the listing agent. If you get another agent, they might have problems later on about who is entitled to the commission cause the listing agent can argue he was what they call a procuring cause, which means he was the one responsible for selling you the home, since he was the one to spend time with you and show you around, like he was the one to do the work basically so he's the one that should get paid.
I live on LI and I did not need to use the listing agent. The listing agent was the seller's agent, not mine. They had no obligation to me. I used another realtor who represented ME. All communications were between my agent and the seller's listing agent. I remember asking my agent how will she get her commission and she explained that she gets it through the mortgage broker that she's working with.
Actually it is better to have a separate agent. The listing agent is working for the seller. Their loyalty is with the seller. Use a different agent to buy so you will have someone looking out for your own interests. Commission has nothing to do with it.
Actually it is better to have a separate agent. The listing agent is working for the seller. Their loyalty is with the seller. Use a different agent to buy so you will have someone looking out for your own interests. Commission has nothing to do with it.
Exactly. Agents who represent both sides are TECHNICALLY supposed to be fair and unbiased towards both sides, but in reality it doesn't always happen that way so you don't wanna take that chance. You don't even know that agent. It's better to get your own.
I live on LI and I did not need to use the listing agent. The listing agent was the seller's agent, not mine. They had no obligation to me. I used another realtor who represented ME. All communications were between my agent and the seller's listing agent. I remember asking my agent how will she get her commission and she explained that she gets it through the mortgage broker that she's working with.
I'm just talking about OP's case like if you attend an open house for example, you are supposed to tell the listing agent from the start that you are already working with another agent so there won't be any problems between them later.
Thanks for your response.
This is what I was concerned about. I think it can still work out well for me. I have an attorney and I'm getting a home inspection so it's not like she could pull the wool over my eyes.
What it all comes down to is that she will get a higher comission in the end by representing both parties. Let's see how this plays out!
Yea, it's all good. Just be careful with all the paperwork wording and pay attention to little details like when you work out the repairs addendum. In real estate everything has to be in writing or it doesn't hold any weight.
Exactly. Agents who represent both sides are TECHNICALLY supposed to be fair and unbiased towards both sides, but in reality it doesn't always happen that way so you don't wanna take that chance. You don't even know that agent. It's better to get your own.
The listing agent's loyalty is to the seller, not the buyer, even if they are representing both. It will almost NEVER be unbiased towards both sides. I was advised by quite a few people to get my own agent. I didn't know my agent so I'm not sure what you mean by "you don't even know that agent". A realtor can always have access to a selling property as long as they communciate and have a good rapport. I ended up meeting my realtor through my mortgage broker. She wasn't listed on any properties that I was interested in so I gave her a list of what I wanted to see. She made arrangements with the sellers' agents. I didn't pay her a cent. She got her commission from the mortgage broker and if I'm not mistaken, the seller may give a commission as well, though probably very nominal.
I'm just talking about OP's case like if you attend an open house for example, you are supposed to tell the listing agent from the start that you are already working with another agent so there won't be any problems between them later.
Most open houses do not allow random people to walk in on their own. We tried going to 2 and were turned away. Buyers need to be with an agent and be pre-approved. They'll have an idea that a buyer is pre-approved if they're accompanied by another agent. The OP isn't talking about going to an open house. She's talking about contracting with either the seller's agent or getting her own. Actually, I was surprised that the listing agent didn't ask her outright either at the showing or beforehand. I did have another agent before mine and every house she showed us, she oversold because she works for the seller not the buyer. Every house we went to she would tell me, "oh, just do some construction...just blow out a wall.." Never use the seller's agent. Ever.
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