Disclosure Regarding Real Estate Agency Relationships
As a buyer, can I work with another agent on a house?
I’m recently on the market to buy a house in California. I worked with an agent called Peter. He showed me a house and I made an offer. But the seller did not respond, that means the seller rejected my offer. The offer expired 3 days later. Usually one needs to sign a “Disclosure regarding real estate agency relationship” when making an offer. The disclosure lists who is the buyer’s agent. Me too, signed the disclosure. My question is: when does the “Buyer-Agent” relationship expire?
At this point, I’m not happy with Peter’s service. I think I’m free to work with another agent on different houses. My question is: how about the house that Peter showed me? What if the price drops in the near future, and I still would like to buy it? Just because Peter showed me (but the offer was rejected), am I still obligated to work with Peter?
2 things at work here:
1) Your Buyer-Broker agreement with Peter should have had an ending date on it. Get a copy and look for it. If you buy through someone else within that time frame, Peter may be entitled to a commission anyway. If you never signed an actual Buyer-Broker agreement, but just a disclosure on that particular offer, you may be free to use anyone you want.
2) Some states work on a concept of “procuring cause”, meaning that Peter would be entitled to a commission on the sale of any house that he had originally showed you. Ask a California Realtor if it applies in this case.
Your best bet is to contact him and verify that you are indeed free to work with another agent. He may be willing to do a referral to a different agent, meaning that his company would receive a referral fee (usually 20-25% of the buyer side commission) from the other company.
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