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Not quite comfortable to sign a buyer-agent agreement, what options do I have?
I have been working with an real estate agent for a couple of weeks. She is not as good as I hoped, but OK. The problem is that I can see her effort to push me to sign a contract. She gives much more positives than negatives on almost all properties. While the home market is not clear, she always insists that the local market will definitely boom, which I don’t agree on.
I thought about switching to another realtor, but would feel guilty to do so as she has already invested at least 10 hours on my search. I know in this state, most realtors require the buyer sign the agreement at the beginning, but still some won’t do that until they are ready to help the buyer make an offer. I am leaning to sign the offer with her. But …, if she is getting worse, do I have options to switch agents beforel the agreement expire in 6 months? The agreement is not clear on that at all.
When I go out looking at properties I don’t say anything about the property unless I see something major. It’s not my decision. She may be scared to say negative things about a home you might purchase. This comment does not seem very uncommon to me.
Of course if you are not comfortable don’t push forward. But, let her know why instead of just dropping her. It’s the least you can do after she’s invested so much time. And trust me its more than 10 hours considering the time she’s spent calling agents and looking up properties, etc for you.
If you do push forward address your concerns with her as well.
Personally, the only people I don’t make sign a contract with me is friends and family because I know they’re using me. But, everyone else I will get to sign because I have other things to do and ACTUAL clients to help. If its been a few weeks OF COURSE she is trying to get you to sign. I’m sure she doesn’t want to waste any more of her time if you’re just going to use someone else. So, I don’t blame her there one bit.
Just keep in mind that if you do purchase a home that she showed you there may be a problem because your new Realtor may not be able to claim a commission due to "procurring cause". So, be up front with the new Realtor should you decide to get one because you want the best representation but you also want to be fair.
The answer is simple, if you are not comfortable working with her, don’t sign anything. I’m pretty sure they have these contracts are written to be pretty tight and you could end up stuck with her for the term of the contract. Contracts are a lot easier to get out of if you don’t get in to them in the first place.
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My realtor lady friend says when you sign on the dotted line, then you are on the hook until such an agreement expires.
Up until that time, don’t consider 10 hours a whole lot — As most work is only being done now on spec; then paid on commission only after she produces something for you –and the cost of her doing business anyway…
So it sounds like you should just keep looking and your options open.
Good luck!!
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if u arent confident in her dont sign anything and go to someone else. most agents wont persue a lawsuit but y put yourself in that situation.
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If you are not confindent in this agent DO NOT sign any kind of agreement! You are dealing with 100s of thousands of dollars vs. you feeling bad for wasting her time. Just call or email her and tell her you’ve gone with someone else. Trust me, it’s business, and agents are used to this. They do not have sucess with every client. If you really feel bad about it, send her a $20 Starbucks card as a thank you for taking her time with you.
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as far as I know, you do not ever have to sign a BUYERS AGENT AGREEMENT…
also, make her work for YOU! You are her paycheck, and she sounds like she might be desperate to get you to sign her on for a reason… if she is only OK, not GREAT… what do you think she will be like once she doesn;t have to work as hard to keep you as her BUYER???
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In the states I am from, CA and now UT, The seller will usually sign a listing contract so the agent can market the sellers home. Sounds like your agent is marketing the home without this agreement? There is nothing legal to stand on. If you have signed the agency agreement, you can get out of it by mutual agreement. I had an agency agreement with a team of 2 realtors. One turned out to be a total fruit loop and I insisted they take my house off the market right away and they would have, given the circumstances. As it turned out, we agreed to NOT let the other agent set foot on my property. Unfortunately, he was the one who brought us the second buyer (first one fell through). Usually, there is a stipulation in the agreement that states the agent will receive commission if you sell your house within 90 days of the 6 months, but you’ll have to put everything in writing if you wish to mutually terminate the agreement, stating you will be using another agent, possibly. It’s kind of sticky. Many times you can contact the broker and switch agents with less of a problem. good luck to you!
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Escrow Officer
Pushing for a contract of course she is lets look at the number if you purchase a house for 200K her 6% is 12K for 10 hours work that is $1200 an hour. Most realtor’s work for the seller, not the buyer and it is in their best interest to get the most out of a home and all will deny the market is going down in price, it is not going to boom the affordability index is not there especially with the double digit increases in utilities and gas and heat, and the stagnant wages. Add the loss of the subprime market which is now also affecting the prime market the housing bubble, as the dot com has come of age. There presently is a nine month glut of houses on the market and all the big housing construction companies are posting a loss. Tell me how is this a boom era? Sorry your agent is looking out for herself, not you
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10 hours is nothing. You should also be very comfortable with her by now. If you have misgivings they should be heeded.
In CA it is not customary to sign a buyer agreement until you place an offer.
She should be giving you ALL the facts, positive and negative, if she is not upfront with you she is not on your side. She is NOT trying to find you the perfect house for you, she is just after a sale, at any cost.
I would find myself another agent.
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When I go out looking at properties I don’t say anything about the property unless I see something major. It’s not my decision. She may be scared to say negative things about a home you might purchase. This comment does not seem very uncommon to me.
Of course if you are not comfortable don’t push forward. But, let her know why instead of just dropping her. It’s the least you can do after she’s invested so much time. And trust me its more than 10 hours considering the time she’s spent calling agents and looking up properties, etc for you.
If you do push forward address your concerns with her as well.
Personally, the only people I don’t make sign a contract with me is friends and family because I know they’re using me. But, everyone else I will get to sign because I have other things to do and ACTUAL clients to help. If its been a few weeks OF COURSE she is trying to get you to sign. I’m sure she doesn’t want to waste any more of her time if you’re just going to use someone else. So, I don’t blame her there one bit.
Just keep in mind that if you do purchase a home that she showed you there may be a problem because your new Realtor may not be able to claim a commission due to "procurring cause". So, be up front with the new Realtor should you decide to get one because you want the best representation but you also want to be fair.
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Realtor
Myrtle Beach, SC
Don’t sign! I am a real estate agent in the state of VA. I NEVER have my clients sign that. I am so confident that I will do a great job, that I do not have to MAKE people work with me. If people are dissatisfied with my work, than I want them to find happiness with someone else. A real estate transaction is hard enough, especially if there is bad blood because someone is pushing you to buy before you are ready.
There are no guarantees in this business, and she knows that. Look for a real estate agent that is not "cut throat". I know that sounds crazy, but not all of us are in it for the money. I am a full time nurse/ part time real estate agent. Real estate is like an enjoyable pasttime that I do to help people. I have helped some people for months and months, because I could not live with myself if I pushed them into something that was not perfect for them.
So, hold out for Mr./Ms. right! Do not tie yourself to someone that you are dissatisfied with because you feel obligated.
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