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re: Thoughts on real estate agents and their commissions
Posted on 3/27/15 at 8:53 pm to genro
Posted on 3/27/15 at 8:53 pm to genro
quote:
What the agent did for you is bring you the buyer.
The agent didn't bring him to me. He found my house after the agent couldn't find anything he liked using the MLS listings for the area. But since he signed a contract with the agent previously, he has to go through the agent. Do not ask me what the contract said.
I will probably rent before I give this guy anything. Thanks for your thoughts.
3
Posted on 3/27/15 at 9:04 pm to CajunSuperJeff
quote:
But since he signed a contract with the agent previously, he has to go through the agent.
What state are you in? I'm no lawyer but that seems like it would be hard to enforce and bad PR for the RE firm. I always had people sign agency disclosures because Louisiana requires it but it is in no way binding. That would be stupid as a buyer to sign a contract because then you are held hostage.
However, the ethical thing is that if an agent brings a certain property to your attention then you use that agent to complete the transaction.
Posted on 3/27/15 at 9:05 pm to CajunSuperJeff
Yeah I can probably tell you that he has to stick with that agent. Generally on a buyer's agency agreement there's a 6-month provision (again, in AL) that any property purchased he is owed commission. It's all your call.
This post was edited on 3/27/15 at 9:06 pm
Posted on 3/27/15 at 9:07 pm to CajunSuperJeff
quote:
But since he signed a contract with the agent previously, he has to go through the agent.
When I was buying a house a few years back, I had an agent tell me that it was "standard practice" for agents to require buyers to sign an exclusive buyer/agent contract.
I just laughed at him and walked away.
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