Exclusive Buyers Agreement?

Joel Mckinney
Home Buyer
32129

Me and my brother are looking to buy a house together. I signed an exclusive buyer agreement with a buying agent, but my brother's name is not on it. Would we generally have a better chance at getting the house we want by going directly through the selling agent? If so, does anyone know a way out of the exclusive buyer agreement? I can email a copy to whoever might be able to help.

Answers (9)
Sean Dawes
Agent
Philadelphia, PA

That sellers agent most likely will collect both sides of the transaction so no unless the seller requests that agent takes less.

Also why would you want to deal with the sellers agent. Buyers agents look out for your interest. There is a conflict when it becomes a bidding war.

Also there is a lot of work after finding a home other than writing up an agreement of sale. If you go unrepresented you will need to know a good home inspector, know how to respond to an inspection, know how to order title and review a report, file for mortgage and handle those docs, be familar with closing costs and how much you need at the table and more

just my two cents

Wed Jun 24 2009, 19:39
Monika Depalo
Agent
New Smyrna, FL

I got the copy you sent and it is a buyers agreement that was used in Florida before we all became transaction brokers and work for the good of the transaction. You just need a realtor that will meet your needs. Basically, you are the employer of the agent so you need to feel comfortable. If you don't then you need to change--go ahead and discuss it with the person you signed the agreement with and see if there is a fee to cancel or withdraw. You can still work with them if they will work with you without an agreement. If you would like to work with someone else let me know. I do work 5 counties and Palm Coast & Ormond is included. Where do you wish to live?

Please e-mail me at monikadepalo@adamscameron.com (you can cut and paste this)

Wed Jun 24 2009, 19:36
Joel Mckinney
Home Buyer
32129

I have gone ahead and called my buying agent and he's trying to get the ball rolling right now. Thank you everyone for your input and help.

Tue Jun 23 2009, 13:26
Alan May
Agent
Evanston, IL

I understand that the selling agent is SUPPOSED to be representing purely the best interest of the seller, but is that the way things really happen?
~~~~~~~~~
Realtors are human, so yes... some of them will be tempted by your few thousands... but in reality... they won't be "helping" you... they'll be simply trying to hold the deal together so they can make some extra money.

You'd still be better served by having someone on your side, watching out for "your" interests... making sure that you know all the ins-and-outs, and don't get taken advantage of... who by taking care of your interests in the deal, might actually save you more than the few thousand dollars you think you're saving.

Tue Jun 23 2009, 12:18
Janet Jacobs
Agent
32174

Joel, I hope by now you have this problem resolved. If you have already seen the home with the Seller's agent and your Buyer's agent isn't responding, then have the Seller's agent write your offer on the home. A Buyer's agreement indicates a level of performance is expected from the Realtor. Let the agents fight about the shared commission. It shouldn't be your problem.
JanetJacobsRealtor@gmail.com

Tue Jun 23 2009, 11:14
Joel Mckinney
Home Buyer
32129

I understand that the selling agent is SUPPOSED to be representing purely the best interest of the seller, but is that the way things really happen? With a few thousand dollars of compensation on the line, do selling agents still show no bias?

By the way, apparently this house is a pre short sale. Does that make any difference?

Tue Jun 23 2009, 10:28
Alan May
Agent
Evanston, IL

your assumption is faulty.

The listing agent owes his allegiance to the seller. Yes, he will be tempted by the double-commission... but he truly works for the seller. In florida, he can act for the "transaction" but that means he's not really representing either of you... just the deal (in other words... just himself)...

you should be vigorously represented, and a good buyer's agent will do that. It sounds as though you may want to have a "sit down" with your current agent and discuss you dissatisfaction.

Tue Jun 23 2009, 05:47
Joel Mckinney
Home Buyer
32129

Filled it out on March 14th and the contract is supposed to be in effect until September 30th, but I feel we've already lost 2 good houses because of this agreement. We really liked him at first, but it seems that he is getting kind of lazy on us, Still does a decent job when we find a place though. We looked at a house today, with the listing agent, that is an absolute steal and perfect for our needs. We want to act quick on it before it is snatched up.

My assumption is that the listing agent will work harder for a potential buyer that is NOT using a buying agent since the listing agent would then recieve the full commission, rather than splitting it with the buyers agent.
Am I correct in that assumption?

I just WANT THIS HOUSE!!!

I sent the email and thank you for your help :)

Mon Jun 22 2009, 20:45
Monika Depalo
Agent
New Smyrna, FL
FIRST ANSWER

If you signed it , was it recently? is your agent doing a good job? I can look at it and see if it is a standard FAB BAR REALTORS contract that is regulated by the National Association of Realtors or if it is an internal company document. or if you have an attorney they can look at it. Any attorney offers 30 minutes for free through Bar Referral.
E-mail me if you prefer monikadepalo@adamscameron.com

Thank you,

Monika Depalo, Florida REALTOR
STAGER-INTERIOR DESIGNER
Adams Cameron & Co. Realtors
Company Listed in Real Trends 500

email monikadepalo@adamscameron.com

WEB=http://www.monikadepalo.adamscameron.com/
& http://www.myfloridahomesmls.com/relocate

Mon Jun 22 2009, 18:01

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