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post #1 of 11 Old 01-30-2007, 10:38 PM Thread Starter
 
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Are you bound by one real estate agent?

Tomorrow I am going to look at some houses i am interested in. I know where a century 21 office is off the bat. If i go in there and talk to them and they take me to some houses, do I have to stick with them? a Co-worker is finishing his real estate classes in april and was thinking i could give him the oppurtunity to get some experience with a sale. I am not sure when I will be able to buy, could be april, or could be aug.

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post #2 of 11 Old 01-30-2007, 11:21 PM
 
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Re: Are you bound by one real estate agent?

Not to my knowledge. Know that we fired ours one time and just went out on our own.
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post #3 of 11 Old 01-31-2007, 7:19 AM
 
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Re: Are you bound by one real estate agent?

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Originally Posted by stegen View Post
Tomorrow I am going to look at some houses i am interested in. I know where a century 21 office is off the bat. If i go in there and talk to them and they take me to some houses, do I have to stick with them? a Co-worker is finishing his real estate classes in april and was thinking i could give him the oppurtunity to get some experience with a sale. I am not sure when I will be able to buy, could be april, or could be aug.
You are not if you are a buyer. If you are a seller, then you typically sign a contract stating you will not change the selling agent for x number of days. X is usually something like 90 days. If you are a buyer, you could have a different agent for every house you went and looked at if you wanted.
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post #4 of 11 Old 01-31-2007, 7:46 AM
 
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Re: Are you bound by one real estate agent?

an agent is just there to assist you in buying, you are not obligated. you dont even have to have one to buy. i purchased my house with out an agent.
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post #5 of 11 Old 01-31-2007, 10:51 AM
 
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Re: Are you bound by one real estate agent?

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Originally Posted by stegen View Post
Tomorrow I am going to look at some houses i am interested in. I know where a century 21 office is off the bat. If i go in there and talk to them and they take me to some houses, do I have to stick with them? a Co-worker is finishing his real estate classes in april and was thinking i could give him the oppurtunity to get some experience with a sale. I am not sure when I will be able to buy, could be april, or could be aug.

We went thru a bunch until we found one we liked.

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post #6 of 11 Old 01-31-2007, 2:34 PM
 
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Re: Are you bound by one real estate agent?

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We went thru a bunch until we found one we liked.
buying a house is so easy even a cave man can do it.
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post #7 of 11 Old 01-31-2007, 3:00 PM
 
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Re: Are you bound by one real estate agent?

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buying a house is so easy even a cave man can do it.
How would you feel if he said, "Buying a house is so easy even Quick26 can do it." ?
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post #8 of 11 Old 01-31-2007, 3:40 PM
 
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Re: Are you bound by one real estate agent?

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buying a house is so easy even a cave man can do it.


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post #9 of 11 Old 02-01-2007, 7:34 AM
 
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Re: Are you bound by one real estate agent?

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How would you feel if he said, "Buying a house is so easy even Quick26 can do it." ?

well that just wouldn't make any sense
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post #10 of 11 Old 02-01-2007, 3:56 PM
 
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Re: Are you bound by one real estate agent?

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well that just wouldn't make any sense
Why? Because Quick's are smart?
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post #11 of 11 Old 02-01-2007, 8:08 PM
 
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Re: Are you bound by one real estate agent?

Real estate agent: sure, you can shop around, just watch out for a purchase exclusivity clause in any pre-purchase contracts, and look out for "brokers".

In almost all states, if you go through a "broker," that broker is due a quantum meruit (earned amount) value for the amount of work they did in finding a place for you, if they alerted you to the listing. You are allowed to purchase through any agent/broker, but if there is a fee to be had, the first-in-time rule applies, and the first broker to show you the place gets the fee (Of course, the selling broker is going to want it too, so...OUCH!).

This is because with MLS (multiple listing service) all agents/brokers have access to nearly all of the listings. There are exceptions, like when sellers hire an exclusive broker or agent, but almost all the stuff is on the open market.

Feel free to browse online, or go to open houses until your contact is licensed, if you want to throw him some business, just to steer clear of any problems. The real estate market is slowing down a bit, so competition is getting heated again. The specific rules are available on your home-state's web page.

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