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I contacted a listing agent to see a house. Is there any way for me to back out and get my own agent to represent me or am I bound to use them now? Problem is that I now see they are not going to be able to be in my court when understanding the nature of the deal and finding out how best to approach negotiations.
I contacted a listing agent to see a house. Is there any way for me to back out and get my own agent to represent me or am I bound to use them now? Problem is that I now see they are not going to be able to be in my court when understanding the nature of the deal and finding out how best to approach negotiations.
Forwarning: I'm working on the assumption that you sent a single e-mail, and got specific info about a single listing, and that you were not working with this agent for any period of time, that you didn't give this agent any reason to feel they were your representative. If that's not the case, you shouldn't bother to read the rest of this. No one can ever force you to be represented by someone you don't want representing you. Send another e-mail to the listing agent explaining your take, and that you want to be sure you get representation from someone who isn't required to represent the seller. Tell them you appreciate the info they have provided to this point, and that you are working on getting representation. Now, go find an agent you want to represent you. Let them know what has happened to this point. They will decide on the best course of action to be sure they get paid if you buy this house. So long as all you did was get a little info about this one house from the listing agent, it shouldn't be a big deal.
Forwarning: I'm working on the assumption that you sent a single e-mail, and got specific info about a single listing, and that you were not working with this agent for any period of time, that you didn't give this agent any reason to feel they were your representative. If that's not the case, you shouldn't bother to read the rest of this. No one can ever force you to be represented by someone you don't want representing you. Send another e-mail to the listing agent explaining your take, and that you want to be sure you get representation from someone who isn't required to represent the seller. Tell them you appreciate the info they have provided to this point, and that you are working on getting representation. Now, go find an agent you want to represent you. Let them know what has happened to this point. They will decide on the best course of action to be sure they get paid if you buy this house. So long as all you did was get a little info about this one house from the listing agent, it shouldn't be a big deal.
Well it was more like 15 emails, with lots of questions that I kept remembering to ask. Some of the questions the agent had to go to the seller for, most they already had in hand. I don't know, I mean in the end I suppose I can keep using them, and just rely on my own savvy to make sure I get a good deal. To be honest, I'm not sure it matters since I know what my upper limit is and I suspect it is very close to the seller's lower limit, or possibly below it.
Well it was more like 15 emails, with lots of questions that I kept remembering to ask. Some of the questions the agent had to go to the seller for, most they already had in hand. I don't know, I mean in the end I suppose I can keep using them, and just rely on my own savvy to make sure I get a good deal. To be honest, I'm not sure it matters since I know what my upper limit is and I suspect it is very close to the seller's lower limit, or possibly below it.
i'll stand by my original statement that you can't be forced to use anyone to represent you. Nor can yo be denied representation that you want. But, since you had a rather lengthy and involved interaction with this agent, he may have a case for a procurring cause argument. The listing agent in this case may feel that they were the cause of the sale, as they brought you all the info you needed to decide you wanted to buy the property. You can still get your own representation, but be REALLY sure you fill in that agent before you have them doing work for you, so that they can be sure about getting paid.
i'll stand by my original statement that you can't be forced to use anyone to represent you. Nor can yo be denied representation that you want. But, since you had a rather lengthy and involved interaction with this agent, he may have a case for a procurring cause argument. The listing agent in this case may feel that they were the cause of the sale, as they brought you all the info you needed to decide you wanted to buy the property. You can still get your own representation, but be REALLY sure you fill in that agent before you have them doing work for you, so that they can be sure about getting paid.
Is there a big downside to a buyer working with the seller's agent? Any tips I should be aware of?
Is there a big downside to a buyer working with the seller's agent? Any tips I should be aware of?
If you have all the knowledge & information you need, if you are a skilled negotiator, and if you are counting on the agent to do nothing to advance your interests over those of the seller, in other words if all you need from the agennt is to fill out the forms and shuffle some papers, then you can have the listing agent work with you. If, however, you need to know what to look at, how to compare properties to see the market trends & compare prices, to make a fair valuation of the property you want to buy, if you want an advocate who will make a strong case to the seller to accept yoru offer, then perhaps the guy who represents the seller isn't the best choice, and you should consider finding an agent who will in fact work to advance your interests.
I have similar situations as well. I find that a single agent simply doesn't give me all the listing that I may be interested in. I find my previous 2 homes by my self, the agent swoops in to take the commission. I really felt they didn't help me at all!! Now we are looking for a new home. I contact the listing agent for the properties that I'm interested in by I won't sign a buyer's agent. I'm up front about this. Not everyone was happy, but it is what it is. If they show me the property, if they show me the listing and I end up buying from their advice, they get the commission. If I buy a listing from another agent, that agent gets the commission, if I find the house myself, I'm not paying a buyers agent commission. That leaves me an extra 2% or so to negotiate.
Is there a big downside to a buyer working with the seller's agent? Any tips I should be aware of?
Yes, you really need to have your own agent. No matter how hard that agent tries, they will represent their first client - the seller - first. It may be a little touchy, but a reputable and honest agent will understand that you want your own reputation. If they resist, it will just be further proof that they are not looking out for you.
Negotiations get tricky, emotions are involved and you need someone on your side who will fight and look out for you during the process.
I have similar situations as well. I find that a single agent simply doesn't give me all the listing that I may be interested in. I find my previous 2 homes by my self, the agent swoops in to take the commission. I really felt they didn't help me at all!! Now we are looking for a new home. I contact the listing agent for the properties that I'm interested in by I won't sign a buyer's agent. I'm up front about this. Not everyone was happy, but it is what it is. If they show me the property, if they show me the listing and I end up buying from their advice, they get the commission. If I buy a listing from another agent, that agent gets the commission, if I find the house myself, I'm not paying a buyers agent commission. That leaves me an extra 2% or so to negotiate.
There's a lot more to buyer representation than simply finding a home. Find a good agent you trust and have them show you the homes as you find them if you like to work that way. Don't assume you'll get the commission if you find a home since you don't pay it as a buyer. The money will either all go to the list agent or else the seller will expect some of it. It sounds as if your previous agent didn't do much for you so find someone who'll be good contract to close and you'll be happier with the experience in all likelihood.
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