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Old 08-14-2011, 09:26 AM
 
675 posts, read 1,816,142 times
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I'm confused here: the buyer's agent showed you some houses but you didn't buy any. Then you decided to build a house on a lot you found by yourself with a local builder, so why did the buyer's agent involve with this? He didn't help you anything but showing some houses and you didn't buy.
As I think, if you have the buyer's agent for a while (even you sign a contract with him) with no purchase made, and you want to switch to another buyer's agent, you still can do without paying him anything because buyer's agent only have commission through the transaction.
Is this correct? Or anyone can explain more because I'm still confused.
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Old 08-14-2011, 10:00 AM
 
Location: Just south of Denver since 1989
11,824 posts, read 34,425,536 times
Reputation: 8970
please don't interfere with a contract. A buyer's agency contract is between a purchaser of a property and a licensed real estate person to of all things, buy a house.

To contract with a builder is to build a house for the purchaser to buy. Therefore if the OP has a buyer agency contract and a purchase contract - the buyer is obligated to perform both contracts.
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Old 08-14-2011, 11:06 AM
 
Location: Salem, OR
15,574 posts, read 40,417,480 times
Reputation: 17473
Quote:
Originally Posted by AngelBy View Post
I'm confused here: the buyer's agent showed you some houses but you didn't buy any. Then you decided to build a house on a lot you found by yourself with a local builder, so why did the buyer's agent involve with this? He didn't help you anything but showing some houses and you didn't buy.
As I think, if you have the buyer's agent for a while (even you sign a contract with him) with no purchase made, and you want to switch to another buyer's agent, you still can do without paying him anything because buyer's agent only have commission through the transaction.
Is this correct? Or anyone can explain more because I'm still confused.
The OP asked the buyer agent to come to the meeting that is why they are involved. Unfortunately, the buyer agent didn't have a buyer agency agreement in place per the OP since they said they didn't sign anything with them. So essentially the agent failed to protect their time and worked for free.

Some buyer agency agreements are for a specific period of time. So sometimes you can just terminate and sometimes you can't. The OP isn't saying they want different representation, they just don't want to pay the buyer agent 3% for the time he has spent with them thus far.
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Old 08-14-2011, 11:10 AM
 
Location: Just south of Denver since 1989
11,824 posts, read 34,425,536 times
Reputation: 8970
Very few if any EBA's in Colorado would show a buyer property without a signed written agreement.
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Old 08-14-2011, 11:11 AM
 
675 posts, read 1,816,142 times
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I still don't get it, even if the buyer bought or build a house by himself without the buyer's agent showing or help, is there any issue if there's no agreement has signed? For example, the buyer called or emailed request showing some houses, but after viewing a couple houses he(she) didn't want to follow up with any houses, and after for a while, the buyer buy (or build etc...) a property with someone else, can the agent request for commission or something like that?

Last edited by AngelBy; 08-14-2011 at 11:20 AM..
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Old 08-14-2011, 11:13 AM
 
Location: Salem, OR
15,574 posts, read 40,417,480 times
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Quote:
Originally Posted by AngelBy View Post
I still don't get it, even if the buyer bought or build a house by himself without the buyer's agent, is there any issue?

If they don't have a written buyer agency agreement then they are free to move forward without an agent.
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Old 08-14-2011, 11:14 AM
 
Location: Salem, OR
15,574 posts, read 40,417,480 times
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Quote:
Originally Posted by 2bindenver View Post
Very few if any EBA's in Colorado would show a buyer property without a signed written agreement.

I've never seen an EBA move forward without one. I find it odd myself considering the association really harps on getting signed service contracts, which is good practice for all agents.
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Old 08-14-2011, 11:28 AM
 
675 posts, read 1,816,142 times
Reputation: 514
May I ask again, what's is EBA ... please advise and explain more.
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Old 08-14-2011, 11:29 AM
 
Location: Just south of Denver since 1989
11,824 posts, read 34,425,536 times
Reputation: 8970
Exclusive Buyer's Agent - a licensee that only represents Buyers, never represents sellers.
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Old 08-14-2011, 11:30 AM
 
Location: Salem, OR
15,574 posts, read 40,417,480 times
Reputation: 17473
Quote:
Originally Posted by AngelBy View Post
May I ask again, what's is EBA ... please advise and explain more.

An EBA is an Exclusive Buyer Agent. They are agents that only represent buyers all the time. They never, ever take listings. Some agents are strictly listing agents and never work with buyers, but most do both.
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