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I have had some input from various realtors in the Charlotte/Hickory area that all sound good. I have not yet met with any of them in person.
I have not pinned down exactly which area we want to live in yet. Is it feasible to work with more than one realtor? Should I pick just one realtor that works with a multiple office operation. Should I try to have one realtor with an independent firm in each community I'm interested in? If I work with more than one realtor how do i prevent them from crossing paths with the same listings? Will working with more than one realtor lessen their enthusiasm to help us?
The area I'm interested in covers a 100 mile radius at this point
I can ceratinly understand why a realtor would want a client exclusively but is this really the way to go when you are searching a broad area.
Some realtors have expertise in more than one geographic area within the same general area -- for example Charlotte, north and south. If you are going to another area, (for example Raleigh, NC) I would suggest getting another realtor to help you. As a realtor, I wouldn't want to show properties in areas in which I was not familiar.
As long as the Buyer agency agreement specifies which areas each will be handling, it should'nt cause problems. Just have your realtor specify in which areas he/she is working with you in the agreement.
I picked a realtor in each area that i was interested in. I was honest with all of them and did not sign a representation form. Some larger organizations wanted that although when I selected the real estate agents I selected non-large and very local to the areas. After finding the right realtor I highly recommend driving around the areas you visited without the realtor and talk to the locals, but that falls into doing you own homework.
Hope that helps.
To have the Realtor work for you do not sign the Dual Agency agreement. That way should it be an in house listing they would have to get another agent to help you due to conflict of interest.
As for demographics if you were looking in Hickory then Charlotte I would use a dif. Realtor. When the agent writes up the contract between you and them they will have a spot to say where they represent you. I typically put Mecklenburg county and surrounding counties due to the fact Concord/Harrisburg/Union/Lincolnton etc are also a viable place for my clients to look.
If I don't sign an agreement (dual agency or Buyer's) will some realtors not want to work with us?
One realtor I enjoyed talking to sent us a package with a Buyer's agreement enclosed. It seems to say that no matter how I locate a house that Buyer's agent will act in my behalf, seems rather broad to me.
I plan to drive around in the areas we're interested in and see what I can find out on my own first.
Some realtor's have offices in both Charlotte and Hickory, is it a good idea to work with an organization like that or pick two separate organizations/offices?
IMO its what you feel comfortable with. If you go with the bigger chains the Realtors may split the commission so it could be a win/win for everyone involved.
You do not have to sign a buyers agency agreement until you are ready to submit a offer. The caveat to this is NC by default represents the seller. With that being said do not disclose anything to the Realtor that you do not want the seller to know. If you do it is the agents responsibility by NC RE Law to let the seller know that you just won the lottery and have cash to burn.
Working with the smaller company (in my opinion) the relationship is better as typically the agent has a little less in house rules to play by.
If I was you tell the agent straight up your thoughts and if they do not seem to be on board go on to the next one until you can find someone you click with. You guys will be glued to the hip for close to 2 months so better to find someone you can stand
I agree that I wouldn't feel comfortable representing a client in an unfamiliar area. As a Realtor, our duty is to serve our client's best interest. Showing homes in an area of unfamiliararity does not serve that best interest. Buyer's agency agreements can either be exclusive or non-exclusive. It can be an oral agreement until the time an offer to purchase is made. I recommend not signing an agency agreement until you decide on your preferred area. Work with a few agents, nothing wrong with that. I also recommend you choose a Realtor that you mesh with, one that communicates promptly and listens. Good luck to you and if I can help you in the Hickory area, let me know.
To be fair to yourself and your agent, first choose the agent you are comfortable with and with whom you want to place your trust in such a big decision. Choose an agent that has superior knowledge of their area.
A good agent will totally agree that they want to represent you in the area(s) in which they have the most knowledge. As for multiple agents in a given area, they will be tripping over each other sending you the same listings from MLS. In that respect, trying to foster competition is not the way to work with a Realtor. He/she is going to devote a lot of time and effort in getting to know your wants and needs and being "on top" of the market for you. In other words, you will be in good hands with a good agent.
Trust your agent, and be loyal. If you see a sign, call your agent, not the name on the sign; if you pop into an open house, sign in that you have an agent and give your agent's card. They work very hard for you; and the best way to reach that point is to enter into the Exclusive Buyer's Agency Agreement with your agent within the radius the agent suggests he/she can knowledgeably handle. Usually a 25 mile radius in plenty to handle. When you have that exclusive relationship with the agent, the agent represents you , and that agreement creates the fiduciary duty to disclose each and every material fact to you, known to them, about the area, the home, adverse conditions, government in the area, etc. If you do not have that agreement, the agent represents the seller. You will be presented with a brochure upon your first contact with the agent disclosing NC Agency Laws; and you need to sign it acknowledging that you have read it and understand it.
As for driving around on your own, that is all right if you have time and know the town, but remember, the agents are the folks who know where the best properties are, they know "what's coming up", know the intracicies of each neighborhood, and you could drive around aimlessly wasting your time and never seeing what you should see. It is easy to form opinions when you don't know the area and are not privy to what the insiders know.
Another suggestion would be to work in one area at a time. Each area is different, and to be jumping back and forth let's say from Morganton to Hickory to Lenoir (you're covering a LOT of miles) and will only get confused.
Most of all, be loyal to the agent you choose. Agents appreciate that so much and that is the key to finding the best location and property for you.
Dual agency is only an issue if you consider one of the firm's listings.
If you like the agent, sign the agreement, but do not allow dual agency. It is on the same form. Gets interesting only if you want a property that is listed with your agents firm.
Here's the official NC Real Estate Commission brochure, "Working with Real Estate Agents." It is the definitive clarification of agency and mandated by NC law that any agent review it with you prior to acquiring your confidential information.
The link:
http://www.ncrec.state.nc.us/publications-bulletins/WorkingWith.html (broken link)
I never liked Dual Agency at all; even on a listing. The Seller can also elect not to allow Dual Agency on the MLS listing agreement. Guess I'm just old-fashioned.
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