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  1st time buyers - what is our agent supposed to do for us?
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posted
Hello!

My husband and I are shopping for our 1st home. We are doing FHA loan. We found one home we loved and put an offer on the house and started the process, then our LO contacted us and told us the FHA appraiser said it was too close to a gas station (had to be 300 yards from 1,000 or more gallons of flammable liquids) So needless to say we had to walk away from the house.

I think I want to change our agent at this point, I just don't know what to do.
Here is why:
-He has been late on us twice and neither time did I get a courtesy call saying he was running late. Nor did I get an apology. Once was 15 mins the 2nd was 30 mins.
-He keeps trying to push us towards a house we do not love. Yes we said we liked it, but we told him why we did not love it. As soon as he found out that the house we wanted wasnt going to work out he again tried to steer me towards this house we did not love. There were 2 other houses we liked more and he knows that.
-He never has asked us to send him a list of things we are looking for/desired/must haves. Isn't that what is going to help him FIND us a home?
-He keeps getting us confused with another person he is working with. He even had a lender call my # asking for the other person. (This I can look past)
-I feel like he should be sending us new listings. We are looking online and just keep seeing the same old stuff.
-After we made the offer on the house, I found out it was accepted because I saw the listing had changed to contingent. I gave him 3 days to call me before I finally called him to make sure that was correct.

Now that this offer didn't work out, I feel we don't have to continue working with him, but I feel bad because he has already given us his time.
What should I do?
 
Posts: 28 | Registered: Jul 18, 2013Reply With QuoteReport This Post
Picture of conrad
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Find another realtor/agent. We had one like that once. Wasted our time...kept on wanting to show us homes we had already seen and rejected.

Personal referral from friend, relative or co worker can sometimes work. Go to some open houses (in your price range) and check out the host realtors?
 
Posts: 9428 | Location: Plains & Mountains | Registered: Jun 08, 2003Reply With QuoteReport This Post
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Yeah, I think that is what we are going to have to do. We would like to move before winter, early November at the latest would I like to be moving.
I don't really have time to waste on this.

Once we get our hand money back from this deal I think I will ask a few friends who recently purchased homes.

I feel bad because like I said he has invested time, showing us homes and doing the offer paperwork and such but I just feel like he isn't listening to us and is just trying to make a sale whether we are happy with the house or not. (Oh and the house we did offer one was one that we found ourselves)
 
Posts: 28 | Registered: Jul 18, 2013Reply With QuoteReport This Post
Picture of conrad
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Don't feel bad.
YOUR time was also wasted.
 
Posts: 9428 | Location: Plains & Mountains | Registered: Jun 08, 2003Reply With QuoteReport This Post
Picture of real estate lady
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Often times, potential buyers will call off a sign not realizing the agent is the sellers agent, therefore no loyalty to you.

However, a sellers' agent can, at listing, have a seller transition to a transactional agent (working for the "transaction".. or dual agent(which can turn into a duel).


A sellers' agent cannot be a "buyers" agent. All this is called "agency". Different states have different agency laws - so check your state. You cn do this by simply calling a few Realtors in your state and ask them to explain "agency" disclosure" to you. When you make the offer, you should have signed an agency disclosure form. What does it say?

I agree, make sure you signed and received a copy of a Cancellation of contract/Release of deposit (type)form. The loan processing stopped because of the property location. Has nothing to do with you. Often times loans are denied because of the subject property, i.e. location, appraisal, etc. Look at your contract "contingent on financing", and the denial gets your deposit back. I agree wait for your deposit return, and stay on top of the agent to get it. Should not take more than a week.
After a week, you can call your agents' broker.
Now the seller can balk,and that may hold it up, but based on your post of events, should be no problem.

There is a great website called "HOMEFACTS" that gives great information including gas stations, oil spills,predators, etc.. for a particular property. You just punch in the complete address address. I use this site constantly before I even show properties.

What you are looking for "in representation" is a "buyers' agent". Make that clear to future agents you talk to and review the disclosure you should be signing says just that, once you choose an agent and start making offers. A buyers' agent is just like other agents" fee wise", and shares in the MLS commission split the seller is offering in MLS. When you sign the agency disclosure make sure there is no language talking about a buyer paying a fee. Communication is key with your agent,"agency" and forms vary state to state-check your state.

There are situations, however, like some,I say some, discount brokers (listings) that are not offering buyers agents or any other selling agent a commission. They expect a potential
buyer to be working with them ( the sellers agent)as the seller may be paying a lower commission.

Relax, know that you will gain insights from the boards here. YOU can interview buyers agents first in your town or city before you decide on "your agent".Have fun looking through some listings on the net, but let your "new buyers agent" make the call as you will be "NOW" represented!

This message has been edited. Last edited by: real estate lady,
 
Posts: 9179 | Registered: Aug 14, 2007Reply With QuoteReport This Post
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real estate lady,

Thank you so much for your reply. I know we will be getting our hand money back as the contract had a contingency clause on us getting financing. The house is now once again listed as active, so our agent must have submitted our paperwork. (It's nice I have to keep checking the listing to get updates and not actually have him communicate with me :/) So obviously the seller has also accepted the cancellation, I am guessing? (Again, would be nice to be getting updates from our agent!)

The agency disclosure form that we signed says this:
Under the Broker listed the box is checked next to Buyer Agent (Broker represents Buyer Only)

Under the Licensee Names where our agent's name is the box is check that says Buyer Agent without Designated Agency

So does that mean he is a buyer's agent? If so, he's just not doing a good job for us IMO.

Thank you so much for that website!! I will be sure to be utilizing it, as I really don't want to go through this again.
 
Posts: 28 | Registered: Jul 18, 2013Reply With QuoteReport This Post
Picture of indycatCarol
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I have 45 days left on my contract and I'm ready to get rid of my realtor. She brings people that aren't even qualified yet, she only lists my property as a mini farm, WILL NOT list it in residential also with income possibilities. Farmers currently rent tillable property and another rents the barn for his equipment.Enough income to pay property taxes incase someone doesn't need 22 acres but wants "out in the country". No mention in the write up either that because of the amount of property, you need to have 20% down, but that is no problem because she brings people that aren't qualified for the house anyway.
After 90 days "I" had to suggest a reduction in price and "I" was the one that suggested an open house (she said she never has much luck with them but she would if I wanted her to)
So far, 2 other people I've spoken to don't have a high opinion of her either.
Should I let her continue for another 45 days (which then gets back into the school year for someone that may have kids)or get rid of her now?

This message has been edited. Last edited by: indycatCarol,


I don't mind coming to work. But that 8 hr. wait to go home is a drag.
http://s182.photobucket.com/albums/x189/indycatCarol/
 
Posts: 3432 | Location: Indiana | Registered: Nov 20, 2004Reply With QuoteReport This Post
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indycat,

I'm not sure about the selling side of things. Did you sign a contract with her? If so I don't know how you could get out of that.
I know a couple people have asked me if I had signed a contract with our agent, and we have not.

Sounds like she is not doing what she can to sell your house. It sounds like she doesn't want to do the work. And bringing in non-qualified buyers? Not only is she wasting your time, but theirs also. You should check to see if you can find someone else, like you said before school starts and that might hinder some buyers who might not want to move after that time.
 
Posts: 28 | Registered: Jul 18, 2013Reply With QuoteReport This Post
Picture of real estate lady
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Alleria- Go ahead and calll your agent and ask him/her to bring you your deposit check return.
Yes, if he checked the buyers' agent box, then yes he was your buyers agent. But pushing a house on a client to buy can be interpeted as "steering". Major law with consequences for Realtors in Florida. Check your state.

Breathe, and start poking around with listings again on the net..then go hire you a buyers' agent. Remember you can interview two or thre agents and go with what feels right.Friend referral is a great start. Ask around to people you know about their Realtor.


Indy - There is no rule that you can not go to the Broker of the office and ask for withdrawal of the listing based on "no marketing" and "lack of communication". Your listing agreement outlines what your Realtors' duties are. Do you have a copy?

This message has been edited. Last edited by: real estate lady,
 
Posts: 9179 | Registered: Aug 14, 2007Reply With QuoteReport This Post
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Alleria, Time to switch agents and you shouldn't feel the need to explain why (late arrival for appointments, not asking for your criteria for "your" new home, encouraging re-consideration of houses you have already said are not what you want, and the list goes on and on....

Time to switch ~ post back and let us know how the house hunt goes. Cool
 
Posts: 6487 | Registered: Jan 01, 2008Reply With QuoteReport This Post
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If you are looking for professional opinions on this you could also use RESAAS, a platform where only official realtors answer questions. Give that a go here: http://rebla.st/qbxxhkt

Hope it helps! Smile
 
Posts: 13 | Registered: Aug 08, 2013Reply With QuoteReport This Post
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It should not be difficult to find a buyer's agent, the trick is finding the right match to work with you. Just like all buyers are different so are agents.

Not knowing where you are I can tell you in MI there are two types of buyer agency:

1) where everyone under the Broker becomes a buyer's agent (no designated agent)

2) one where the Broker has chosen to practice Designated Agency which requires a Contract with the buyer. With a Designated Agent there is less chance of a dual agency situation. You sign a contract with the Broker naming the agent/team that you will be working with.

I will also say that the BAC I have seen all address how the commission will be collected and from whom.
 
Posts: 501 | Location: mi, usa | Registered: Apr 10, 2003Reply With QuoteReport This Post
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