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Author: Rael137 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 4954  
Subject: Realtor committment? Date: 8/4/2009 1:42 PM
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So I may be looking to buy a house in the next 6-12 months or so. My question has to do with whether I am obligated to use a specific realtor or if I can use someone else. This is probably a long boring build up to a simple "yes" or "no" answer. : \

When I first moved to my new city, some friends from my old city hooked me up with a friend of theirs here who is a realtor. He acts primarily as a buyer's agent and he helped me find a rental house (which is customary here). For the assistance in finding the rental, he got paid a commission by the landlord.

At that time I had signed a 6 month agreement (rental/purchase) with the realtor which has since expired. He had also set me up with an automatic house listing search that sends me a daily email linking to my search list (with my criteria for size, location, price). This search doesn't expire so now I've been getting it for almost 2 years. I look at it every once in a while but haven't been seriously interested in buying. I may start looking to buy in the new year.

The original realtor was nice but he and I never really hit it off. He lives in a different area of the city and it's a 30-45 min drive for him to show me houses in the area that I like. He also kept trying to steer me to houses in his region because (1) he likes living there and (2) he is more familiar with the area. I think he was getting impatient with me after I looked at 4-5 rental houses with him and didn't like them (I looked at an additional 15-16 by myself until finally finding one). The problem is that I have met another realtor who specializes in my area of town and seems to understand my odd needs for a neighborhood.

Do I still have an obligation to use real estate guy #1? After all I have been getting lists of listings from him for 2 years. Or can I switch to real estate guy #2? What do you think?
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Author: ishtarastarte Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3758 of 4954
Subject: Re: Realtor committment? Date: 8/4/2009 2:02 PM
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I'd say go with the one that makes you more comfortable.

The emails you're getting are likely automated, and he already got a commission off you.

If you are looking to buy, you want someone who will listen to what you say and not get impatient with you.

Ishtar

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Author: Allisonh2 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3761 of 4954
Subject: Re: Realtor committment? Date: 8/4/2009 4:13 PM
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If you are looking to buy, you want someone who will listen to what you say and not get impatient with you.

Ishtar

Agree! Who needs an impatient realtor? You are the one who is buying the house, so be picky and shop around. After all, this is where you may be living at for 5, 10 or however many years!

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Author: sashamore Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3762 of 4954
Subject: Re: Realtor committment? Date: 8/4/2009 4:29 PM
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i dont think you have any obligation to him.........you didnt sign anything stating that he could be your personal realtor for the rest
of your life, did you?

if you feel icky about just taking a walk, i think you should tell him
that you prefer working with someone who knows the neighborhood inside
out.....then duck.

yrs,
sasha
thanking rael for a fresh start.

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Author: dianakalt Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3764 of 4954
Subject: Re: Realtor committment? Date: 8/4/2009 8:34 PM
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Rael,

I don't believe that you have an obligation to use real estate guy #1. You definitely don't have a legal obligation to use him since you agreement has expired, and I don't believe you have an ethical obligation to do so either.

One thing you cite as a concern is the fact that you have been getting listings from him weekly for 2 years. I would not be terribly concerned about this. REG#1 probably set up an automatic filter and email of this information to you and may not even realize he is still sending this info to you. Real Estate folks set up these kinds of services as a marketing technique, and understand that not ever filter they set up for someone will result in a new client.

That said, if you would like to use a different realtor without feeling as if you are being sneaky, you might call REG#1 to discuss your situation. It is perfectly legitimate to want a realtor who lives very close to your target home area and is familiar with that area, so what you may wish to do is call REG#1 and tell him that you are looking for a home in XYZ region and ask if he knows anyone who specializes in properties in that area. If he's worth his salt, he will provide you with a reference if he knows someone. Real Estate agents do this type of referring fairly frequently. Of course, if you've already identified a new realtor that you know you want to work with, then don't pretend you need a reference - can't tell if you already have a new realtor in mind or not.


d

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Author: XWordPhile Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3765 of 4954
Subject: Re: Realtor committment? Date: 8/4/2009 8:57 PM
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Do I still have an obligation to use real estate guy #1?

No.

After all I have been getting lists of listings from him for 2 years.

Are these something he puts a lot of time into, or more of a mass mailing type thing? (it sounds like the latter, but it's hard to tell..)

Or can I switch to real estate guy #2? What do you think?

Your contract with the first realtor has expired. Use the one who best meets your needs.

(and why does spell check want me to capitalize realtor?)

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Author: oncqueen Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3766 of 4954
Subject: Re: Realtor committment? Date: 8/4/2009 9:40 PM
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When I moved here, my Place of Employment had used a certain realtor for many years. She was the spouse of one of the partners, and was used to selling Upscale Trophy Homes (UTHs). She was sort of pushed on me, and so to keep from making waves, I let her tour us around. However, all we ended up seeing was UTH's, even though we said that we were not that kind of people, that a place with a good school, yard, and place for kids to play, as well as privacy, were more important to us, and that we did NOT want to go hugely into debt for an UTH. So she started showing us UTH's that were....10% less. We went back without a house. We had no contract, but she did spend days with us. I think she thought that all she had to do was wear us down, and that we pretty much HAD to go with her because she was the Wife of a Partner.

We arranged a 2nd househunting trip, and called the Place of Employment: "Look, Big Time has showed us a lot of homes, but not what we are looking for; we gotta find something this trip; who else do you know? I know she's a Wife, but we need a house."

We got another name. I called Big Time as well as the new person, said we would be looking with both; the new one and Big Time agreed.

New Lady listened to what we wanted, really worked hard, and ended up finding us a FSBO. Big Time showed us a few more zillion dollar homes.
I called BT to let her know we bought with New Lady and she went BALLISTIC!!! Raved about "loyalty" and stuff, even though we had been very straight with her upfront about her failure to show what we wanted, and the 2nd realtor.

We love our non UTH, and don't feel bad. I don't know what more we could have done---bought an unsuitable, scary-$$ home JUST TO MAKE A REALTOR HAPPY??!! One who didn't even listen to what we wanted??!!

You should go with the one who listens to you and knows what you want. If you had a valid, current 6-mo contract with the other one you would be stuck for a few months, but you don't. Automatic email spam from a computerized list doesn't consitute a "relationship." I'll bet the computer would send it out long after your death, unless someone called to have it stopped.

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Author: anuvaka Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3784 of 4954
Subject: Re: Realtor committment? Date: 8/5/2009 7:08 PM
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Do I still have an obligation to use real estate guy #1


Not at all, you obligation was fulfilled when he was paid from the landlord of your current place.

You should choose a Realtor you are comfortable with and Works for You.

I went through about 9 Realtors who basically told me I didn't have enough money to buy a house. I met Bill and he actually listened and found a place below what I was willing to pay and went through all the hassles of negotiation too. He showed me 6 houses where the others showed me none to 2. And gave up.

So pick someone you like.

jC

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Author: lovingrose Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3795 of 4954
Subject: Re: Realtor committment? Date: 8/6/2009 8:50 PM
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Use anyone you darned well feel like using! You have no obligations to the first realtor.

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