I am a buyer. Can I work with several agents at the same time? (Charlotte: sales, chapel)
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Hi, All.
I heard that in NC, as a buyer, you can work with several buyer agents at the same time. But my agent said he is superised to hear this and looks unhappy. Is this true? Anyone has any expereince?
Hi, All.
I heard that in NC, as a buyer, you can work with several buyer agents at the same time. But my agent said he is superised to hear this and looks unhappy. Is this true? Anyone has any expereince?
Thanks!
This brochure, which I am sure has been reviewed with you already, may help you understand agency:
http://www.ncrec.state.nc.us/pdf/brochures/WorkingwAgents-8.5x14.pdf (broken link)
When you are serious about buying you will engage an agent to represent you.
You will get the best effort from an agent when that agent is exclusively engaged to represent you.
Until you engage an agent, the agent is legally representing the Seller.
Your agent knows that you can fool around and waste time, and a great deal of the agent's time and effort without any intention of engaging that agent. If you have taken a lot of the agent's time already, that may explain the possible dismay.
Many agents will have you sign the Buyer's Agency agreement before giving you much time. This protects them from showing you a home that you then buy with the help of another agent. It sets them free to work hard for you without reservation that you will waste their time and "back door" them.
Now I just started to look at the house market. I haven't taken too much time with the agent yet (only go out twice and we picked the houses we want to see. ). Actually my first agent didn't ask me to sign anything. He told me I can sign whenever I want I feel comfortable to work with him exclusively. Also one of my friends in Charlotte told me here in NC, buyer can work with serveral agents. I also saw post here that someone has 3 agents work for him. And the agent works very hard since he knows there exist other agents. So that's how I got the conclusion.
So, at the stage, can I work with more than 1 agent since I need to pick the one that I like and trust the most. I cannot jump into conclusion by just sitting in their office and listen to what they told me, right? I need to use my own eyes. Also, we are first time buyer and totally has no experience at all.
A better question to me seems like;
Why would you work with more than one agent?
If you don't trust the agent which is really the only reason you could reasonably have for working with another agent then fire him/her and find one that comes recommended by a friend, family, co-worker or someone who has USED that professional in the past. The same should be trued for any professional.
Do a search in this forum and you'll find topics that ask for recommendations and referrals to agents that people have worked with successfully. That's the best way to get an agent -- through someone's referral and it sounds like there are good agents to be found. Just do the search in the forum, then talk to individuals through pm for any details or questions you might have about their experience.
We have an excellent agent, and I don't hesitate sending people to her because I know she will take good care of them. I'm not one to trust easily, so it took a while for me to get to know her (and we did spend a long time looking - she was very patient and never gave up on us). Now, I wouldn't go anywhere else. She's definitely a keeper.
When you've found someone good, you'll hold on to them, you'll see And they'll be of help to you long after the closing.
The topic of your thread is the exact reason why agent's have people sign the agreement and the reason why some people see that as an agent trying to "own" them as a customer. Most agents are commission only and working commission only means making sure you are working the leads that will be fruitful for you. When you take 5 agents out to visits with the intention of only using one you are in essence leading those people on, taking time away from them to earn their pay and taking food out of the mouths of their family (in my opinion). If you have an agent you can trust USE ONE AGENT!! They can all get you into the same homes, and if you are smart you will do the negotiating on the price or be present when your agent does it but don't be that customer that people in sales and service cannot stand. The customer is not always right.
Now I just started to look at the house market. I haven't taken too much time with the agent yet (only go out twice and we picked the houses we want to see. ). Actually my first agent didn't ask me to sign anything. He told me I can sign whenever I want I feel comfortable to work with him exclusively. Also one of my friends in Charlotte told me here in NC, buyer can work with serveral agents. I also saw post here that someone has 3 agents work for him. And the agent works very hard since he knows there exist other agents. So that's how I got the conclusion.
So, at the stage, can I work with more than 1 agent since I need to pick the one that I like and trust the most. I cannot jump into conclusion by just sitting in their office and listen to what they told me, right? I need to use my own eyes. Also, we are first time buyer and totally has no experience at all.
Yes, you can work with several agents.
That gives absolutely NONE of those agents any reason to work hard for you or to trust you at all. You have to earn their trust just like they have to earn yours.
But, YES, legally, you can legally work with an unlimited number of agents.
Did you thoroughly read the brochure I posted?
Did your agent talk about agency with you until you understood agency?
My suggestions:
Ask for a sample copy of the Exclusive Right to Represent Buyer form for your review at your leisure. Read it until you understand it.
You might confirm with your attorney the appropriateness of considering asking the agent to write into the Exclusive Right to Represent Buyer form something like this, "Either party may cancel this agreement at any time prior to locating a suitable property."
The reason a buyer would want to work with multiple agents is when picking agents that specialize or are mostly familiar with specific geographical areas. The agent I worked with seemed most intimately familiar with North Raleigh and the Cary area. When looking at Apex and Holly Springs she needed to get her GPS out frequently, though it didn't stop her from showing us houses in the area.
But various sources/articles suggest you get buyers agents that specialize in the specific areas you're looking to buy in. I've never done that personally. But each time I've found my agent to prefer showing houses on one side of town and not the other purely due to the fact that's what they're most familiar with.
The reason a buyer would want to work with multiple agents is when picking agents that specialize or are mostly familiar with specific geographical areas. The agent I worked with seemed most intimately familiar with North Raleigh and the Cary area. When looking at Apex and Holly Springs she needed to get her GPS out frequently, though it didn't stop her from showing us houses in the area.
But various sources/articles suggest you get buyers agents that specialize in the specific areas you're looking to buy in. I've never done that personally. But each time I've found my agent to prefer showing houses on one side of town and not the other purely due to the fact that's what they're most familiar with.
There is some merit to that.
It is difficult to imagine showing Cary and not Apex, as closely intertwined as they are.
Explicit clarity on what agent and what area might make it easier to work with. But prospective clients preferring playing the field with several agents for any period of time makes it very difficult for any agent to ignore bona fide clients.
I actually get calls from people who want to move up my "lists" in areas without engaging me as an agent. They might get a call after I have exhausted the folks who at least act serious.
On a side note, we have a good friend who is an agent (it seems like everyone does these days, huh?) who works mainly in the Raleigh/Cary area. When we told her that we wanted to look at homes in the Durham/Chapel Hill area she recommended that we use a different agent, one that specializes in the Durham/Chapel Hill area. She had several recommendations and her firm did receive part of the commission because of the referral.
My thought is that if the reason you have three agent is because you are all over the board on where you want to buy (Wake Forest, Raleigh, Cary, Apex, Durham, Chapel Hill, Chatham County), then yes, you should use multiple agents. But if you know you want to buy in a specific area (let's say Cary) and still have three agents for that one area, I think that is wrong.
Just throwing my two pennies out there...
Matt
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And they'll be of help to you long after the closing.
