how to bid for a house? i hired an agent but she is forcing me to buy a house from her listing. I'm
interested in buying a house and wants to put a bid for that house. I heard i need to sign a contract to show the owner i'm interest to buy this house. When i asked my agent she said she signed for me. Should i get rid of my agent.
Sat Jun 7 2008, 13:12 - Edison - Home Buying - 12 answers
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BEST ANSWER
Don't be scared Jeremy, it is o.k.
I was speaking of an exclusive buyers agency agreement. The agreement where the buyer owes you a commision no matter who they buy with. That is what I do not use. We must have "CIS" signed, but it is not a commitment to the agent forever. Some agents mistakenly think that is what this document means. The CIS explains relationships and agency. This person sounds like they were manipulated by their agent. I would still tell them to walk on him/her - never mind speaking to that agents broker, just walk away and contact another agent, ask friends and family who have had a transaction with a reputable agent. Sun Jun 8 2008, 20:04
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Sometimes I question the legitimacy of the questions asked here. Sorry if this is a real life situation but I have to point out a few things including some of the responses. First stating the facts is not and should not be interpreted as giving legal advice. As licensed agents in the State of NJ we who know the rules and guidelines can simply state the facts.---
If you hired an egent to find you homes then that agent must have established with you what is called an agency relationship. They should have given you a consumer relationship statement. This is required. This forms explains the 4 agency relationships an agent can have with you. Seller agent. Buyer's agent Dual disclosed agent and transaction broker. This form is not a contract but it must be signed and kept on file. Second to this is the Buyer's agency agreement. This form is what actually establishes the relationship you will have with the agent you will work with. This too is required. (It scares me that an agent posted a response here that he does not have his buyers sign one. Don't take this as a flame but else do you establish who's interest you are actually representing.) This does not just protect the agent but it protect you as well so that you will know in what capacity the agent will work with you. Without this you have not established an agency relationship. These things were put in place to protect the public. No longer are the days of buyer beware.--An agent cannot sign an agreement of sale for you. Depending on the area some agents share different customs. Some present proposals to purchase while other areas present contracts for sale to the seller. In either case this is sign by the actual buyer.--Even when you enter into a buyer's agency agreement this agreement can be terminated. Check the terms of your agreement. Call the office and ask to speak with the broker of record or the manager. Someone should be there at all times to answer your concerns. Sun Jun 8 2008, 19:36 Web Reference: http://www.YourNJHomeSearch.com
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Sounds to me like you should bail on this agent!
If you did not sign a "buyers agreement" with her .. which, by the way.... I would not have someone sign, You are free to go where you want with hwhom you want. It sounds like a whole bunch of miscommunication going on. If you can not have a truting relationship with your agent, then you deserve to move on. Good luck. Sun Jun 8 2008, 05:28
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Wow, sounds like true confusion here. Keep in mind that I am not an attorney and any legal advice you need, talk to an attorney. I think when you said you hired an agent you signed a form of a "buyers agreement" where you basically promised to use her exclusively to find a home. This is a form of protection for the agent. This just protects the agent from doing all the work and then you buying through another agent who would get the commission. Since I don't know what you signed for sure, I don't know if you agreed to only buy her listings or not. Check on that to begin with. If you have a copy of the agreement, read it closely, if not, there should be one at the office. As everyone else has said, I cannot imagine a situation where she can sign any contract for you. The only situation I can think of is if you have given her a Power of Attorney, but you would know if you had signed one and given it to her. I always tell my clients, if you are uncomfortable with working with me or if I do not work for you, please tell me you want out of the buyers agreement. I would rather you "fire" me than to drag me or my company's name through the mud. So if you are not sure of her, talk to her broker about your options.
Sat Jun 7 2008, 19:49
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Any-
Note the common thread in your responses... None of us can give you legal advice, but those of us not in the real estate business have a bit more leeway in our responses. (the professionals have to be professional... which is a good thing) So.. my unprofessional advice? Dump your agent. As a second option, take Don's advice and set up a meeting with your agent and his/her broker. The reason that they are referred to as your agent is that they represent you. If they aren't explaining things to you so that you understand the process, are comfortable with the process and understand your legal rights and responsibilities, they aren't representing you. I can't imagine a good reason that your agent would have the legal right to sign for you on a housing offer -- (there are some, but if they applied to you.. .you wouldn't be here asking advice on Trulia, you'd have a lawyer on retainer to provide that advice for you). So. Either A) you don't understand what is going on, in which case the agent is not fulfilling their duty to you or B) there is something shady going on, which is even worse. (And yes, making an offer (which is a contract) is the traditional way to tell the owner that you are interested in a house, but it conveys more than just "hey, I like your house", it says "if you agree to these terms, I WILL Buy your house." So... it's not something you should do until you are sure. Sat Jun 7 2008, 17:44
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BEST ANSWER
Amy,
First, did you contact a buyer's agent to work with and then she showed you one of her listings or did you first meet this agent at one of her listings? If it's the first - you found your own buyer's agent - did you sign a buyer's agreement? Nobody (not even a buyer's agent) can force you to buy a house that they have listed. Is that what you are saying? Is the house you are interested in her listing or did you find a different house BUT she wants you to buy one of HER listings? Lastly, if you do want to proceed with an offer - it must be in writing and you must sign it. She cannot sign anything on your behalf. So what is it that she actually signed? Did you write up an offer? Have you seen the paperwork that she signed on your behalf? Needless to say...get a different agent. Not knowing all of the answers to the questions I asked...just the simple fact that you are questioning her actions - get rid of her and find a new agent. Please let us know the facts surrounding this question as to better answer you and help you with your situation. Again, either way - your agent cannot sign a contract on your behalf. Gina Chirico Prudential New Jersey Properties 973-239-7700 ext 132 973-715-1158 cell GinaChirico@PruNewJersey.com Sat Jun 7 2008, 17:13 Web Reference: http://GinaChirico.PruNewJersey.com
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Hi Amy: Get rid of the agent. Whether there is a misunderstanding, a miscommunication, or perhaps a misinterpretation, something is lacking and can lead to even further problems further on. I am not sure what you mean by "hired" but I suspect you mean "retain". If money changed hands when you "hired" the agent, I would bypass an attorney and call your state's (NJ) Office of the Attorney General who will probably refer you to the Division of Consumer Affairs -- they can tell you whether NJ codes or regulations regarding real estate transactions have been violated. I have contacted my state's real estate office when I suspected a violation and have been involved in licensing action against abusive real estate agents. Regardless...get a new agent.
Sat Jun 7 2008, 15:25
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The other advice below is very good. Assuming that perhaps there's been some misunderstanding, you may want to consider a personal meeting consisting of you, your agent, and your agent's broker. Raise the questions you did here. If they're addressed to your complete satisfaction, great. If not, then you might want to consider finding a new agent.
And just to reiterate what others below have said: Your agent cannot sign for you (unless you granted her power of attorney). Your agent cannot force you to buy any house, whether it's her listing or anyone else's. Signing a contract is not a demonstration of interest in a house. It is a legal contract--an offer to buy a house. If the seller agrees, then (with various contingencies) you have the legal obligation to buy the house. Good luck. Sat Jun 7 2008, 15:06 Web Reference: http://www.Solutions3DHome.com
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I would like to echo the sentiments expressed previously by the other agents. This sounds like an unusual situation. I haven't been in the industry long so I'm not sure about "hiring" an agent. If you really "hired" your agent I would suspect that you signed some sort of contract stating this relationship. If you have such a document then maybe you had better read it carefully. As far as "forcing" you to buy the agent's listing, that sounds preposterous; no one can force you buy anything. The agent may have suggested his/her listing but it can only be presented as a choice. As far as signing for you, this sounds suspicious unless your "hiring" agreement , if you actually have one, allowed this. If all you say is really valid then maybe you should consult a real estate lawyer. This whole situation sounds very unusual.
Sat Jun 7 2008, 14:47
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There are a couple of unusual remarks in your statement: you write you "hired" an agent. 1) Did you actually PAY to have the agent represent you? You also write that your agent is "forcing [you] to buy a house from her listing." 2) Explain further how she is "forcing" you.
As far as putting an OFFER on the property goes, yes, you would need to sign the document. Each state (and Real Estate entity) has its own forms, but to make it a legitmate offer, YOUR signature is required. Your agent would likely also need to sign the document and unless she has your Power of Attorney, or something similar, she can NOT sign FOR you. NOTE: I am ***NOT*** offering legal advice; I'm merely noting conventions generally used in the practice of real estate. As to your last question, whether you should "get rid of [your] agent" goes, consider how well she is representing ***YOUR BEST INTERESTS*** and then make the decision. Harry [Realtor(R)] harry@idealidaho.com Sat Jun 7 2008, 13:56
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No one can force you to buy anything you don't want to, and your agent can't legally sign a contract for you. I think there must be some type of misunderstanding here. You need to speak to the agent to clarify the situation. If it is still unclear, contact a good real estate lawyer and they can help you. If you are lookihng in the Bergen County area, please contact me through my website.
Sharon Kozinn Sat Jun 7 2008, 13:53 Web Reference: http://www.sharonkozinn.com
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FIRST ANSWER
Hello, When the contract is prepared it requires your signature to make it complete. I hope that reply helps you to understand your role.
It sounds like you may be aware of this and this is why you question moving forward using your current's agent assistance??? Follow your gut feeling. I hope there was perhaps a miscommunication with what or how you thought the contract should be prepared??? Much success to you with your house hunt. Weanona weanona@weanona.com Sat Jun 7 2008, 13:42
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