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Results 1 to 7 of 7
  1. #1
    Matt1999 is offline Renter
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    Jan 2009
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    Exclamation Realtor etiquette

    I was working with a realtor to purchase a foreclosure in March. This realtor did not help me find the home but was available to show the home to me. We made several offers that were refused and then the listing was taken off MLS because the home was sold back to the loan originator.

    Shortly after it was sold back to the loan originator, I tracked down the property and found the agent who would be listing this property. I contacted him and asked him to let me know when the property will be available for sale. Three months later he contacted me and told me what price the home will be listed for.

    I then contacted the realtor that I originally worked with and asked him if he would like to represent me again. I thought this was the ethical thing to do since he helped me the first time. Now the new listing agent says he is confused and will not respond to my realtors inquiries.

    Was I wrong to contact my original realtor after contacting the listing agent on my own? I tracked down this new listing, not my realtor. This listing is an REO and is not listed under MLS. Not yet, at least and i'm not sure if it will be. What should I do?

  2. #2
    markbrian's Avatar
    markbrian is offline Home Owner
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    If you had a buyers agent agreement with your agent, then he should have explained that you are not to contact other agents, etc.

    After you found out what agent the home was supposed to be listed with, I would have suggested calling your agent, not the listing agent.

    Your actions were not "wrong" but your original agent should have explained to you not to contact other agents (if you had a buyers agent agreement).

    The best thing you can do is talk with your agent instead of asking questions here. It sounds like the listing agent is wanting to deal with you so he can double end the commission. Remember the listing agent works for the seller and not for you. The listing agent is not your friend.
    Mark Brian Silver Star Real Estate
    Upstate South Carolina Real Estate

  3. #3
    Matt1999 is offline Renter
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    Default

    Thanks for the reply.

    We did not have a buyers agent agreement. If I would have depended on the agent that I used as a buyers agent then I would have never found the relisting of this property. I tracked it down myself. However, I wanted to use him as a buyers agent because as you said, the sellers agent is not on my side.

    Now my buyers agent is out of town for two weeks so I scheduled a day for the listing agent to show me the home but now the listing agent will not respond to my inquires...

    I'm really suprised the the sellers agent is not jumping at this opportunity. He has a buyer that has made pervious offers on the home and ready to make another offer. The sellers agent does not even need to spend any time or money to market this property.

    Sorry about asking questions here. These two agents are not available or responding so I am looking somewhere else.

  4. #4
    Join Date
    May 2009
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    16

    Default

    Quote Originally Posted by Matt1999 View Post
    I was working with a realtor to purchase a foreclosure in March. This realtor did not help me find the home but was available to show the home to me. We made several offers that were refused and then the listing was taken off MLS because the home was sold back to the loan originator.

    Shortly after it was sold back to the loan originator, I tracked down the property and found the agent who would be listing this property. I contacted him and asked him to let me know when the property will be available for sale. Three months later he contacted me and told me what price the home will be listed for.

    I then contacted the realtor that I originally worked with and asked him if he would like to represent me again. I thought this was the ethical thing to do since he helped me the first time. Now the new listing agent says he is confused and will not respond to my realtors inquiries.

    Was I wrong to contact my original realtor after contacting the listing agent on my own? I tracked down this new listing, not my realtor. This listing is an REO and is not listed under MLS. Not yet, at least and i'm not sure if it will be. What should I do?
    If you encounter problem at first.. dont push through. actually they want only for you to sign up. and then they leave you..

  5. #5
    markbrian's Avatar
    markbrian is offline Home Owner
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    I do not think you can say for certain the agent you were using would not have seen the proeprty as soon as it hit the MLS. Most agents check the new, price reductions, expireds etc everyday. The address would have rung a bell or maybe your agents MLS has a function that would have alerted him when this address became available again.

    If you do not have a buyers agent agreement then this agent is not your buyers agent. For an agent to become your buyers agent it normally requires signed paperwork.

    Both agents leaving town or not responding is strange since most agents will have another agent or their broker handle their affairs. There may be other details to this story that seem trivial to you that would help me to understand.

    In general, if you are working with an agent, communicate with them only. If your agent is not responding in a timely manner, get another agent.
    Mark Brian Silver Star Real Estate
    Upstate South Carolina Real Estate

  6. #6
    Matt1999 is offline Renter
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    Default

    Thanks again for the feedback, markbrian.

    The property is not listed in the MLS and may never be, who knows. So even if my realtor did find this property when or if it was listed on the MLS it may have already been sold by then. I wanted to get a jump on it before the general public had a chance.

    The agent I was trying to use to purchase the property could never get the selling agent to call him back. The selling agent is the only one with access to the property. When I tried to schedule a time to see the property with the selling agent, I did not get a response. I am at the mercy of the selling agent here... Finding another agent would not help in the least bit.

    Is this typical with REO peoperties? When i've purchased homes in the past, I could not get realtors to stop calling me!

  7. #7
    markbrian's Avatar
    markbrian is offline Home Owner
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    Many REOs must be on the MLS for a certain time period before the bank will start accepting offers. So that no one has a jump on the general public. After all the bank wants all the offers it can get so that they get more for it. Faster is nice but more $ is better.
    Mark Brian Silver Star Real Estate
    Upstate South Carolina Real Estate

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