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help! what do i do?!

January 11th, 2009 at 07:40 am

I need some advice on something.

I made some calls last week regarding properties to look at. I called one guy about a property, who was really nice and helpful and also gave me four additional properties to look at in the same area.

Yesterday when we went to some open houses, we drove past one of the other properties the guy gave us, and there was an open house for this one, but with another real estate agent. The inspection was from 11-11.30, and we arrived at 11.28. We thought we may as well try to have a quick look if the agent was willing.
He was really nice and let us look around for about 15 minutes, talked to us and got our details, and mentioned that the owners were willing to take money off for some kitchen renovations.

We really like the property and are 100% sure we want to put an offer in ($10k less than asking price at this moment).

My dilemma is, which real estate agent do I call to make an offer to?

The first one, who was friendly and nice on the phone, who gave us this address addionally.

Or the second man, who stayed 15 minutes after the inspection was meant to be over, gave us more info on the house.

At the moment I am leaning towards calling the guy who was actually there. Only because, had we not known about that house, we would have still been on that road, and would have driven past and probably stopped to look in it anyway, as there was a sign out the front.

Or should I mention to both of them, the input that each real estate agent had?
Are they supposed to share the commission in a scenario like this?

8 Responses to “help! what do i do?!”

  1. Chalatenango Says:
    1231679700

    You may have signed an exclusive agreement with the first agent you were working with. He may be acting as your exclusive buying agent if you singed an agreement.

    The person who showed you the house you like may have been the listing agent for the property.
    They can act as your agent too, but if you already have an agreement, they you have to stand by it.

    I am sure you saved the the name of the agent that showed you the property. See if you can look up the property online and see who is offering it for sale.

    Either way, if you go through the first agent, he acts as buying agent, and the other as listing agent. (Their commission is split between both).

    If there is no agreement, then you are free to deal with however you think will be more helpful to you in the process of getting the home purchased.

    Your agent will be the point person for getting a Purchase & sale agreement signed, setting up a home inspection, and should be available to answer any home related questions you may have.

    They should be eager to help, but not at all pushy.

    (Remember that they don't get paid until after you actually close on the deal, so some may want you to close sooner than you are ready..or at times feel rushed.)

    Feel free to forward any other questions and I'll be more than glad to help.

    Last, if not least....CONGRATULATIONS on finding a home you like, I, too, look forward to the day that I can own my own home.

    I just started wiring about it...
    not much there yet....

    buy1house.blogspot.com

  2. monkeymama Says:
    1231688901

    The first one. The other guy is working for the seller. He'll get paid for the sale. You need someone to represent your interests.

    In the States I *think* both buyer and seller can hire the same agent, but it's really restricted what they can do. There is a conflict of interest there.

    I know many SAers are not fan of buying or selling agents. I wouldn't buy or sell a home without one, personally. A GOOD agent is priceless. Particularly when you are dealing with expensive real estate. We easily saved more than we spent going with a good agent. & if it's the same in Australia, the buyer agent shouldn't cost you a dime anyway. Seller should pay for it.

  3. fern Says:
    1231695575

    Unless you signed some sort of agreement with the first agent, you're not legally required to stick with him, although, as MM pointed out, you may want to.

  4. gamecock43 Says:
    1231697951

    I think you should use whatever agent is NOT selling the house (most likely #1...though the two agents could be colleagues or assistants).

  5. whitestripe Says:
    1231699275

    they are both selling the house Smile the house is listed with two different real estates, Ray White & Keyline.

  6. whitestripe Says:
    1231699299

    oh and i haven't signed anything with anyone at this stage

  7. Analise Says:
    1231707723

    Sounds like you have more of an obligation to go with the 1st one, who led you to the property. The other one just happened to be there. I would talk to the first one and explain, perhaps he'd be willing to share a small portion of the commission with #2.

    This dilemma aside, CONGRATULATIONS on getting to the point of making an offer. All the best to you and hope it all works out.

  8. whitestripe Says:
    1231733233

    thanks guys Smile i think i will go with the 1st guy.

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