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An agreement to represent is a unilateral contract and the realtor works for you. You can also fire that realtor any time. The only recourse they have against you is if you purchase a property they showed you. It is call "Procuring a cause" We have always used more than one realtor when house hunting then purchasing for one simple reason. Sometimes they get lazy or become unavailable in a time of need. SO... You are free to purchase with another agent even if you signed something with them. EXCEPT a property they have either shown you or gathered information on your behalf for.
In regards to selling a property... this is a whole different story.
You would have to sign two different agreements ... one to sell and one to buy. Even if your listing agent sends you properties, you are under no obligation to use that agent to buy... it is courteous to do so, however.
As for the advice to not sign a contract to buy through an agent, that's just nonsense. Who is going to give you 100% if you're not promising to give them the business? If you want 20% from a lot of realtors, then take that approach. Instead, "try out several agents and ask them what lengths they will go to to find you a home if you sign an agreement? The good ones will put out feelers with other agents, work with fsbos, and try to find sellers who aren't selling yet.
You would have to sign two different agreements ... one to sell and one to buy. Even if your listing agent sends you properties, you are under no obligation to use that agent to buy... it is courteous to do so, however.
As for the advice to not sign a contract to buy through an agent, that's just nonsense. Who is going to give you 100% if you're not promising to give them the business? If you want 20% from a lot of realtors, then take that approach. Instead, "try out several agents and ask them what lengths they will go to to find you a home if you sign an agreement? The good ones will put out feelers with other agents, work with fsbos, and try to find sellers who aren't selling yet.
Look at it like dating followed by marriage. SOME people are on their best behavior until they lock in on the (marriage) contract and they become lazy. For me, I want an out fast if someone isn't performing up to my standards. YMMV.
But you are right. Good agents are locally networked, have more pending listings etc. It's why I would not pick an agent from a town 20 minutes away. They are out of their league and learning on your watch/home selection.
If a realtor doesn't do what they are supposed to, you can request termination of the contract. If they are stupid enough to refuse, a written letter to the broker telling why you don't want to continue the contract will certainly do the trick. It doesn't usually come to that.
As for a 20 mile limit, that's unrealistic. I drive 20 min to visit friends and relatives all the time. Ixll bet people commenting here know where trains are noisy, traffic is bad, homes flood, etc well beyond a 20 mile radius. I just moved 21 miles from my last home.
If a realtor doesn't do what they are supposed to, you can request termination of the contract. If they are stupid enough to refuse, a written letter to the broker telling why you don't want to continue the contract will certainly do the trick. It doesn't usually come to that.
True. I had to fire a listing agent after 6 weeks. He talked a great game but his follow-up skills were terrible. To the point where a buyers agent called me saying he won't call him back. After I followed-up with other agents who showed our home, I learned that he didn't return calls. In summary, my guess was that he was gunning for a pocket listing and I fired him. I listed it myself (paid $700 total to get it on MLS) and 3% to the buyer's agent. I closed it myself. I got more $$ on the sale price and saved the 3% listing fee ($12K). But I earned every penny as it was a PITA. I would just assume do and hire the sales process. But I had to take the reins.
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Originally Posted by KathiOH1
As for a 20 mile limit, that's unrealistic. I drive 20 min to visit friends and relatives all the time. Ixll bet people commenting here know where trains are noisy, traffic is bad, homes flood, etc well beyond a 20 mile radius. I just moved 21 miles from my last home.
We disagree. Let's say I'm looking to find a home in our specific neighborhood of 1,400 homes. Does an agent 20 miles away know who the builders are in say, the 2006 era? Their reputation? What's coming on the market? Are they well networked in my specific hood? Nope!
Therefore, why should I pick an agent who tries to cover a 20-mile distance all around them? Remember pie radius^2 from geometry? That's 1250 square miles of homes. A quality top performing agent who sells a lot of properties in the hood of choice is GOING to know more than the person 20 miles away. That cannot be up for debate.
I like my approach. I've made several hundred thousand dollars on reselling homes on water specifically because I was dealing with the players who specialized in a specific area. It's the only way I would hire an agent. If they cannot read that I am loyal and want me to sign an exclusive contract, then they are bad at sales (they cannot read people). They can pound sand and I would run for the hill if they asked. And no one has ever asked me to sign such a contract.
For whatever reason, every agent tells people they are the good ones. Yet by definition, 50% of them are below average. I digress..
We disagree. Let's say I'm looking to find a home in our specific neighborhood of 1,400 homes. Does an agent 20 miles away know who the builders are in say, the 2006 era? Their reputation? What's coming on the market? Are they well networked in my specific hood? Nope!
So by your logic, only a handful of realtors who work in a specific neighborhood are privy to who the builders are? Give me a neighborhood and I can tell you who built the homes in about 30 seconds. And any decent agent will already have a knowledge of builder reputation.
Now, I will say there is an exception to this. I won't touch older homes. When any of my clients are interested in the historic districts, I'd prefer to refer them to a specialized agent and just collect a referral fee.
That being said, I try to base my work in master planned communities (specifically Verrado, Anthem, and Estrella). I know them like the back of my hand. I know the builders, reputation, etc. Because that's my niche, I don't need live and work in that 20 mile radius. I probably know more about those communities than the people that live there.
So by your logic, only a handful of realtors who work in a specific neighborhood are privy to who the builders are? Give me a neighborhood and I can tell you who built the homes in about 30 seconds. And any decent agent will already have a knowledge of builder reputation.
Now, I will say there is an exception to this. I won't touch older homes. When any of my clients are interested in the historic districts, I'd prefer to refer them to a specialized agent and just collect a referral fee.
When I was typing, I was especially referencing preexisting homes versus new builds. Meaning, no one is an expert on 1250 square miles of homes. Example: if I was looking at Moon Valley (your hood), is my Marley Park agent down the block going to know as much as you would? If you say yes, you want it both ways: covering the rest of the world as well as selling yourself as a local expert.
re: new builds. I would hire an agent CLOSE BY the home if I'm building so that they can keep a closer eye on it. All things being equal, why not??? Why would I want to hire a guy in Moon Valley when there is someone in Verrado at least as good or better skill set? Unless you are better than everyone else. If you are, then you would sell much more than others in that area. Right?
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Originally Posted by Sno0909
That being said, I try to base my work in master planned communities (specifically Verrado, Anthem, and Estrella). I know them like the back of my hand. I know the builders, reputation, etc. Because that's my niche, I don't need live and work in that 20 mile radius. I probably know more about those communities than the people that live there.
Someone more local (in the development or close by) is going to know it better with extra bonuses. Chances are, they sell a lot more homes than you do in Verrado (which means they have been in a lot more homes). Chances are, they are going be more connected with the local brokerage which might have a couple of dozen agents who know what is coming up (pocket listings). I can go on and on. Now if you have a ton of rehabbing experiencing and know ROI, I'm willing to give your skillset a try beyond 20 miles as that's a different model. Asufan would be my choice. If was looking at Val Vista Lakes, the now-retired Capt Bill would be my go-to. Or the agents than are across the street and specialize in that area. No offense but not you and not the other 24,000 agents in town.
Or putting it another way, why am I going to hire YOU for Verrado or Anthem or Estrella? Because you have sold a ton of homes in those developments? Because you care more than the local person? You get my point... The agent I hired in Marley Park knew about Element Homes and their era of quality and that they had 2x6 construction, etc. They knew about future road expansions (Waddell adding a lane) and why I should consider getting farther away because of road noise. They attended the HOA meetings. Hell, they wrote the HOA newsletter. They knew of local tradesmen who I hired who gave me more mindshare (she fills them with leads). And her sales followed.
I don't hire people for charity. Or because they are nice or work hard or whatever. I hire the best person I can. And of course, ONE attribute is the proximity. You know, "could you swing by and check out that home that was just listed". I can go on and on.
Now if you want to give me a 1% kickback and you are 20 miles away, let's talk and I'll see if it is worth it. I realize most people don't think about who they hire and who they recommend. If they did, there would be a lot of unemployed salespeople.
When I was typing, I was especially referencing preexisting homes versus new builds. Meaning, no one is an expert on 1250 square miles of homes. Example: if I was looking at Moon Valley (your hood), is my Marley Park agent down the block going to know as much as you would? If you say yes, you want it both ways: covering the rest of the world as well as selling yourself as a local expert.
re: new builds. I would hire an agent CLOSE BY the home if I'm building so that they can keep a closer eye on it. All things being equal, why not??? Why would I want to hire a guy in Moon Valley when there is someone in Verrado at least as good or better skill set? Unless you are better than everyone else. If you are, then you would sell much more than others in that area. Right?
Someone more local (in the development or close by) is going to know it better with extra bonuses. Chances are, they sell a lot more homes than you do in Verrado (which means they have been in a lot more homes). Chances are, they are going be more connected with the local brokerage which might have a couple of dozen agents who know what is coming up (pocket listings). I can go on and on. Now if you have a ton of rehabbing experiencing and know ROI, I'm willing to give your skillset a try beyond 20 miles as that's a different model. Asufan would be my choice. If was looking at Val Vista Lakes, the now-retired Capt Bill would be my go-to. Or the agents than are across the street and specialize in that area. No offense but not you and not the other 24,000 agents in town.
Or putting it another way, why am I going to hire YOU for Verrado or Anthem or Estrella? Because you have sold a ton of homes in those developments? Because you care more than the local person? You get my point... The agent I hired in Marley Park knew about Element Homes and their era of quality and that they had 2x6 construction, etc. They knew about future road expansions (Waddell adding a lane) and why I should consider getting farther away because of road noise. They attended the HOA meetings. Hell, they wrote the HOA newsletter. They knew of local tradesmen who I hired who gave me more mindshare (she fills them with leads). And her sales followed.
I don't hire people for charity. Or because they are nice or work hard or whatever. I hire the best person I can. And of course, ONE attribute is the proximity. You know, "could you swing by and check out that home that was just listed". I can go on and on.
Now if you want to give me a 1% kickback and you are 20 miles away, let's talk and I'll see if it is worth it. I realize most people don't think about who they hire and who they recommend. If they did, there would be a lot of unemployed salespeople.
I don't want to go down a rabbit hole again, but I do have one more scenario I need clarification on. Let's say you're retired and want to live in a master-planned community. But you have nothing tying you to a specific location, so you can move anywhere in the Valley. You are interested in Verrado, Anthem, and Estrella. So you're telling me that you would be working with 3 agents at the same time?
Just to clarify, an agent doesn't get paid for their work without proof they were authorized to represent the client (a representation agreement). According to what some of the commenters here are saying, they want an agent to do the research and provide expertise and advice but not get compensated.
I don't want to go down a rabbit hole again, but I do have one more scenario I need clarification on. Let's say you're retired and want to live in a master-planned community. But you have nothing tying you to a specific location, so you can move anywhere in the Valley. You are interested in Verrado, Anthem, and Estrella. So you're telling me that you would be working with 3 agents at the same time?
To be clear, I'd visit each area and figure out which one is for me. Then if the agent was any good, I'd buy from them. that's what I have always done. So yes, I would work with three agents. No question about it. I went down that path before. I worked with an "expert" in the field. More specifically, someone who focused on properties on water. He worked/officed in Chandler. He claimed to be a guru of the Arrowhead Lakes region too; anything on the water. I quickly figured out he really was best in Ocotillo. When he showed us some places in Val Vista Lakes, it didn't know his way around and couldn't answer a lot of my pointed questions. It was a waste of time. I'll bet he sold about around zero in either development (Val Vista and Arrowhead). But he was an expert in his own mind. By the way, he was a very nice man. A quick search showed he didn't sell much at all in Val Vista or Arrowhead lakes. All talk, no action. But he sure was nice! What does that do for me???
Nothing new with my approach. I'm looking for a car with my daughter. I don't need to have the same salesperson to streamline the sales process. I go to the Toyota dealer, then the Ford dealer and then the Honda dealer.
But I'm research-oriented (hence I'm on City-Data). For people who just want to get close enough on a home, then buy whatever from whomever. I'm saying they are not doing themselves any favor. I won't participate.
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A quality top performing agent who sells a lot of properties in the hood of choice is GOING to know more than the person 20 miles away. That cannot be up for debate. 
