On behalf of Lang Law Office posted in Real Estate Transactions on Friday, June 30, 2017.
First looks can be deceiving, even when it comes to choosing a real estate agent. That buyer’s agent you hire to help you find your dream home may initially be easy to get on the phone. He or she may even show up in a timely fashion for your first appointment. However, soon after you sign that buyer’s agent agreement, that agent may do an about-face.
From the realtor’s perspective, their representation of you is locked in with the signing of that contract. But is that really the case? According to real estate experts, the contract is indeed a legal document. Even if it is, though, it shouldn’t mean that you’ll either have to suck it up and deal with someone that’s not providing you with the level of service you anticipated.
Experts note that one of the more common obstacles home buyers and agents face is that they get their signals crossed. In many cases, they argue that a simple conversation between either the home buyer and the agent or broker may help in resolving their issues. In some cases, if the concerns seem too overwhelming to overcome, the agent or broker may willingly terminate the contract as requested.
When speaking with a broker, it’s important to note that he or she underwent additional training prior to assuming their role. Whether because of tenure or ownership stake in the company, they tend to be affected more from the loss of clients than an agent might.
As a result, he or she may ultimately decide to have another agent help you buy a new home as opposed to losing out on potential revenue they could make by continuing to serve you.
If you’ve spoken with your agent and broker and feel as if you’re gaining very little traction in your dispute, then you may wish to seek out the advice of a Minneapolis residential real estate attorney.
Source: Realtor.com, “How to Terminate a Buyer’s Agent Agreement,” Angela Colley, June 23, 2017