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Real Estate
Reply to "Want to buy a house without an agent - the listing agent has cancelled the showing. Any ideas?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] I'd say throw your legal weight around here. I smell BS, and if there's anything I hate more than BS it's real estate agent BS.[/quote] You don't understand what you're talking about. The 6% commission is in the agreement between the listing agent and the seller. Potential buyers, their mothers, uncles and other parties who are not involved in this agreement have no right to interfere with the contractual arrangement to which they are not a party. No one is saving anyone any money as a matter of law. The listing agent's duty is to get the highest price for the house. For all you know, she's doing it. If you think buyers without agents should be saving 3%, you are quite free to offer this, but no one is under obligation to agree with you. Remember, the commission is the agreement between the seller and the agent/broker. Not the buyer.[/quote] No. The lawyer is representing herself. She is her own rep.[/quote] If she's representing herself, she'd need a real estate license. If she represents herself as a real estate attorney (i.e. does her own closing paperwork), she's free to do so, but the fact is that she still needs someone to provide access to the house. [b]If an agent - any agent - opens the door for her, that agent has procuring cause and can claim the commission.[/b] The reality of real estate market in the U.S. means you cannot gain access to the house without someone to open the door for you. If it's the listing agent, then the listing agent will claim all 6%. If it's a buyer's agent, then the buyer agent will claim his/her share. If someone else lets you into the door (i.e. seller, open house etc.), you still need the seller and his/her agent to AGREE to rebate you part of the commission. You may not like it, but that is how the arrangement is set up.[/quote] [b]Not if the buyer hasn't signed anything! [/b]And ESP not if the buyer just called to ask about open house and to speak to the listing agent and was instead routed to another agent at the same company without her knowledge.[/quote] I am not sure whether any random agent can claim the commission just for opening the door if the buyer hasn't signed a buyer representation contract. To be entitled to the sales commission, the agent must be the procuring cause of the sale [b]AND have a written contract with the buyer or the seller[/b]. I am not sure whether the door-opening agent would qualify as a sub-agent of the listing agent and thus he and the listing agent could pocket the entire commission.[/quote]
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