Our Realtor--Advice Please

[Jamesww]

HUD requires that a pamphlet be given to new principals some states deem that this should be done on the first contact others require it to be given at the time of writing an offer. I think it should be given immediately and I further feel that there is really little reason as to why an agent would not. As a buyer I would want a buyers contract with any agent that writes an offer for me spelling out both parties responsibilities and having a clause that allowed me to exit the contract apon a written complaint and a 7 day period for the agent to fix those items that I was unhappy with. However, in most states it is not legally required that there is a contract.

As others have stated if you feel uneasy about the agent you are using or the personalities do not fit I would advise letting the agent know that you will be looking for someone else.

[olecapt]

Originally Posted by Jamesww

HUD requires that a pamphlet be given to new principals some states deem that this should be done on the first contact others require it to be given at the time of writing an offer. I think it should be given immediately and I further feel that there is really little reason as to why an agent would not. As a buyer I would want a buyers contract with any agent that writes an offer for me spelling out both parties responsibilities and having a clause that allowed me to exit the contract apon a written complaint and a 7 day period for the agent to fix those items that I was unhappy with. However, in most states it is not legally required that there is a contract.

As others have stated if you feel uneasy about the agent you are using or the personalities do not fit I would advise letting the agent know that you will be looking for someone else.

Be careful or you will get what you wish for. I have yet to see a Buyer's Broker agreement that did not favor the Agent. Many are outrageous. Normally the NAEBA or such has a reasonable one...but the last one I came across was probably the worst one I have ever seen. Basically said you paid this guy a commission if and when you ever bought a home.

[walidm]

In NC we must present Working with Agents and explain Agency as well as keep a signed copy stating we did so - at first substantial contact. We also must have a written buyer agency agreement prior to submitting a written offer to purchase. Other than that, Oral buyer agency is permitted.

[Brandon Hoffman]

Originally Posted by olecapt

Be careful or you will get what you wish for. I have yet to see a Buyer's Broker agreement that did not favor the Agent. Many are outrageous. Normally the NAEBA or such has a reasonable one...but the last one I came across was probably the worst one I have ever seen. Basically said you paid this guy a commission if and when you ever bought a home.

Actually SC's is pretty balanced. It protects buyer rights and outlines agent duties. There is even a name disclosure outlined in the agency agreement. The only part that protects the agent is the paragraph where payment agreements exist and the mediation paragraph if there's a dispute. Mostly it's disclosure and buyer/agent duties.