Buying - Realtor showed house - Legally bound?

**jpfulton** · 05-12-2009, 08:31 AM

My former realtor showed me a house (that I found, I was interested in, I asked to go see, I went saw half of b/c she was afraid of dog). Am I legally bound to her b/c she merely obtained the lockbox code????? Is there a time limit on the unwritten contract? Can I contact the seller directly and, once his contract is up with the selling agent, do a deal directly with him... no realtor involvement?

P.S. I never signed anything with her.

I realized answers might be a touch skewed as I am asking realtors

thanks
jp

**RedCarpetSchool** · 05-12-2009, 09:55 AM

[COLOR=black][FONT=Verdana]You

**jpfulton** · 05-12-2009, 09:59 AM

thanks for the response.

If I contact the owner directly and ask if he will contact me after his contract with his agent is over... i assume we can do a deal without paying commission to anyone, right?

**RedCarpetSchool** · 05-12-2009, 10:10 AM

[COLOR=black][FONT=Verdana]Be careful with that, there is normally some amount of time (6months) after the agreement date that the listing agent can come back and demand his commission due. Remember that the agent from his marketing efforts has brought you as a buyer. Doesn

**jpfulton** · 05-12-2009, 10:15 AM

Originally Posted by RedCarpetSchool

Be careful with that, there is normally some amount of time (6months) after the agreement date that the listing agent can come back and demand his commission due. Remember that the agent from his marketing efforts has brought you as a buyer. Doesn’t matter if it was only form the MLS he has done other marketing to bring the Seller an offer.

Is it really worth cutting the agents out of the deal? You may risk losing the property to someone else.

well... the house is way overpriced as it is... I live in detroit... I don't know if you've heard about how the housing market is going lately. Not well. So I'm saying this property is not exactly going to fly. It was listed in '07 and didn't go then either. I have a feeling I can wait til we can work around the realtors. No offense but I don't see a whole lot of value-add in a lot of agents. Major things... they can get access to lockboxes and the mls database. Basically restricting capitalism.

**walkertexasagent** · 05-12-2009, 10:45 AM

Originally Posted by jpfulton

well... the house is way overpriced as it is... I live in detroit... I don't know if you've heard about how the housing market is going lately. Not well. So I'm saying this property is not exactly going to fly. It was listed in '07 and didn't go then either. I have a feeling I can wait til we can work around the realtors. No offense but I don't see a whole lot of value-add in a lot of agents. Major things... they can get access to lockboxes and the mls database. Basically restricting capitalism.

If you feel this way why didn't you just contact the listing agent directly? The listing agent could have showed you the house, you could write your own contract and represent yourself. Why involve an agent at all if you don't feel you are getting any value?

**jpfulton** · 05-12-2009, 11:06 AM

In my experience, the selling agents frown upon that... I've had a number of agents A) try to double their kickback b/c there's no buyer's agent B) try to convert themselves into my buying agent on other listings

However, I regret working with the agent and feel it was a mistake.

**walkertexasagent** · 05-12-2009, 11:20 AM

Originally Posted by jpfulton

In my experience, the selling agents frown upon that... I've had a number of agents A) try to double their kickback b/c there's no buyer's agent

Here's your problem JP. The listing agents agreement with the seller about compensation is of no concern to you. You write the offer for what you believe is a fair price, the listing agent presents the offer and the buyer decides whether or not to accept the offer. Save yourself some time and trouble. Go ahead and mak an offer that is less what you believe the commission to be and see what happens.

However, I regret working with the agent and feel it was a mistake.

I am sure the agent is having the exact same feelings about you.

**jpfulton** · 05-12-2009, 11:22 AM

Originally Posted by walkertexasagent

Here's your problem JP. The listing agents agreement with the seller about compensation is of no concern to you. You write the offer for what you believe is a fair price, the listing agent presents the offer and the buyer decides whether or not to accept the offer. Save yourself some time and trouble. Go ahead and mak an offer that is less what you believe the commission to be and see what happens.

I am sure the agent is having the exact same feelings about you.

Thank you for your suggestion.