Switching realtors (disclosure, new agent, commission, fee)
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I looked at a house last year with a realtor and at the time decided the house wasn't for me. Since then the price of the house has dropped considerably and i've decided to take a second look at the house and possibly put a bid in. I am not longer interested in working with that realtor after finding him hard to get in contact with. My question to you is am i obligated to see the house again with that realtor or am i free to go with a new one?
If you signed anything, it surely says that you will owe him the fee if purchased. If you did not sign anything, the new realtor probably will not want to show you that property since they know that they are at risk for the fee. Regardless--the realtor will come after you.
If you signed anything, it surely says that you will owe him the fee if purchased. If you did not sign anything, the new realtor probably will not want to show you that property since they know that they are at risk for the fee. Regardless--the realtor will come after you.
It depends what the OP signed and if it's still active (has not expired). Agents around here have clients sign an agency disclosure form, but it is not an employment agreement.
It's also highly unlikely the first agent has any claim to a fee for showing the house. Procuring cause would require that the agent was instrumental in bringing a buyer to the seller with a contract in an unbroken chain of events. In any case, the first agent would go after the new agent for the commission, not the OP.
It's a year later? Real estate payment is about procuring cause. And procuring cause is about an unbroken chain of events that leads to a sale. It's been a year! There is no current chain of events for that property. It was broken when you moved along your life and didn't give it a second thought. New chain will start with new agent.
Send that Realtor an email telling them their services are no longer required. Document your verbal parting of the ways.
One more reason to never sign any type of agreement with a buyer agent. All this they showed you a house once and now you are indebted to them. Such nonsense and people actually fall for it.
Signing an agreement with a buyer agent gives the buyer nothing and the REA everything. All this talk about a REA not wanting to do as much because they don't have an agreement with the buyer. Buyer agents are a dime a dozen. The more people buy into the nonsense of buyer agent agreements the more it continues.
People buy cars, RV and boats that cost more than some houses, see any of them signing buyer agent or any agent agreements? Buyer agent agreements is one of the biggest scams perpetrated on consumers in this century.
I think i may have when i first started looking. Since then though we have verbally parted ways.
Find what you signed and see what it says. If you don't have it call the agent up and ask for a copy. Normally Buyer Broker agreements are short term but they may have a somewhat longer term for something the agent showed you.
If it does bind you ask him to release it. If not ask his broker. Mostly these things can be reconciled without much difficulty if you have parted company.
I looked at a house last year with a realtor and at the time decided the house wasn't for me. Since then the price of the house has dropped considerably and i've decided to take a second look at the house and possibly put a bid in. I am not longer interested in working with that realtor after finding him hard to get in contact with. My question to you is am i obligated to see the house again with that realtor or am i free to go with a new one?
Would get a copy of what you signed and run it by a lawyer. If it is a realtor disclosure form you may be ok. If it is an agency (buyer agent) contract, it could be a problem. Not enough details yet for anyone to give you any meaningful advice.
In the future, make sure you know exactly what you are signing.
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