. Need legal advise

clampett

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What if a trust buys the house???

Asking for a friend...
I think the contract covers that---- Buyer or any person acting for, or with the buyer purchases, leases or other wise acquires an interest in the real property.
 
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Sorry for the rough lesson. Is the agents name Pat by any chance? We had the worst experience in the world with our agent. She was already working with us when she brought up a contract and I flat out told her no. If she wanted our business she was going to work for it.

Turns out she knew less about buying a house than we did and we came within an hour of losing a 5 grand deposit.
 

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The buyer's broker gets a commission if they lease a property???

I think the contract covers that---- Buyer or any person acting for, or with the buyer purchases, leases or other wise acquires an interest in the real property.
 

clampett

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Sorry for the rough lesson. Is the agents name Pat by any chance? We had the worst experience in the world with our agent. She was already working with us when she brought up a contract and I flat out told her no. If she wanted our business she was going to work for it.

Turns out she knew less about buying a house than we did and we came within an hour of losing a 5 grand deposit.
No, Her name isn't Pat.
 
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Sorry for the rough lesson. Is the agents name Pat by any chance? We had the worst experience in the world with our agent. She was already working with us when she brought up a contract and I flat out told her no. If she wanted our business she was going to work for it.

Turns out she knew less about buying a house than we did and we came within an hour of losing a 5 grand deposit.
I had a Pat. I don't recall her trying to get me to sign a contract but she always had this small collection of white stuff in the corner of her mouth. It was very off putting, so much so that I remember it to this day.
 

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If there is one it would only apply to those houses that the buyer's agent had shown them. Not any house the buyer learned of on their own, through other means and certainly not a home that is not on the market which the agent has not been involved with.
It's not quite that simple. The standard exclusive buyer's agency agreement includes a cooperation clause where the buyer is obligated to bring any potential houses that the buyer learns of on his/her own to the agent so the agent will be involved, and so the agent will have a claim for a commission. While the contract is still in effect, this would include the neighbor's house that the buyer has knowledge of but the agent is unaware of. If the agent can prove the buyer learned of the neighbor's house during the period the contract was in effect, then the cooperation clause plus the tail clause would give the agent legs to stand on to claim a commission.
 

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I don't recall if the agreement I signed was exclusive or not, however ethically there is no way that I would have cheated my agent out of his commission. And yes, we found this house online ourselves and notified the agent (@NH_Realtor) to check it out.

He busted his ass checking out houses for us during the year or so we were house shopping. He brought a lot to the table and worked hard for his commission.

If I had an agent who wasn't doing anything for me, I'd dump that agent and talk with the agency owner to do so or have them void the contract. In fact when I put my MA house on the market, I will specify that I will not work with one particular local agent and don't want her showing my house. My reason is that she's an air-head with no ethics . . . she held a municipal job for a lot of years and literally ran her RE business out of that office (illegally and something that I personally witnessed). Her boss knew it and so did everyone else but nobody dropped a dime on her. She has since retired from that job, but I just won't do business with someone who lacks ethics.
 

NH_Realtor

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I haven’t read the whole thread, but I can tell you that those buyer agency contracts are barely enforceable at best. And if they did buy something without an agent involved how would the agent even know? All she has to do is tell them they aren’t looking anymore. If the agent did try to take them to court the judge (and RE commission) is more than likely going to side with the consumer.

If I was working with a buyer client and the called and said they didn’t want to work with me anymore I would say cool, thank you for the opportunity and best of luck in the future.

That being said, “finding” someone a house these days is not really part of the job of a buyers agent. The internet exists, all the listing info is out there and if the agent has any gray matter at all they would set the client up with an automatic listing cart that sends them listings as soon as they hit MLS. Buying and selling real estate sucks, a million things can go wrong and deals fall apart all the time that really shouldn’t. The buyers agent job doesn’t really start until you get under contract, and then you gotta make sure everything happens within the contract timelines and guidelines. For a listing agent majority of the work happens pre listing, then it’s just negotiating.
 

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I haven’t read the whole thread, but I can tell you that those buyer agency contracts are barely enforceable at best. And if they did buy something without an agent involved how would the agent even know? All she has to do is tell them they aren’t looking anymore. If the agent did try to take them to court the judge (and RE commission) is more than likely going to side with the consumer.

If I was working with a buyer client and the called and said they didn’t want to work with me anymore I would say cool, thank you for the opportunity and best of luck in the future.

That being said, “finding” someone a house these days is not really part of the job of a buyers agent. The internet exists, all the listing info is out there and if the agent has any gray matter at all they would set the client up with an automatic listing cart that sends them listings as soon as they hit MLS. Buying and selling real estate sucks, a million things can go wrong and deals fall apart all the time that really shouldn’t. The buyers agent job doesn’t really start until you get under contract, and then you gotta make sure everything happens within the contract timelines and guidelines. For a listing agent majority of the work happens pre listing, then it’s just negotiating.
It does seem like a messed up agreement. So for 8 months, you have to use this one agent to buy a house? What if you decide to move to Montana? The agent will continue to help look for houses there, or will sue if you use an agent in Montana?

I would worry about getting caught though. House sales are public record, so a small amount of searching could figure out if the customer went elsewhere to buy a house during those 8 months. It's good to know you think the court will side with the consumer, but who wants to really go to court.
 

NH_Realtor

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It does seem like a messed up agreement. So for 8 months, you have to use this one agent to buy a house? What if you decide to move to Montana? The agent will continue to help look for houses there, or will sue if you use an agent in Montana?

I would worry about getting caught though. House sales are public record, so a small amount of searching could figure out if the customer went elsewhere to buy a house during those 8 months. It's good to know you think the court will side with the consumer, but who wants to really go to court.
Yeah they're public record, but you gotta be a real douche to follow up on every single sale in either a particular town or a set of towns to try to squeeze a commission out of people that didn't want to work with you.

Along those lines, agents (decent one's) also understand the power of social media and bad reviews. So if someone calls them and says they aren't happy with the service and want out of the contract, how will it benefit them to enforce the buyers agent contract and have a grudge match to try to get a few grand in commission (hopefully). It's bad business. Take the lesson and move on to the next clients.

NOW, for those of you asking about why anyone would ever sign one of these buyer agent contracts. One of the first things an agent has to do is have you sign a brokerage disclosure that explains the difference between agency (buyers agent, listing agent, disclosed dual agency, etc) and facilitators. The buyers agent contract is in place to protect YOU from the potential incompetence of the agent. Your buyers agent owe's you obedience, loyalty, disclosure, confidentiality, accountability and reasonable care. They have a fiduciary responsibility to work FOR you to get you the best deal possible. If they are decent and somewhat competent then they will get paid after working for months for you for free. If you had an issues post closing that was the fault of your buyers agent, you have someone that you can create a grievance against and potentially sue. If you had an issue post closing that was your FACILITATORS fault you got no one to take a grievance against except yourself.

Someone posted that they've bought 9 houses with buyers agents but never had a contract. Wrong. You have had 0 buyers agents and you've had 9 facilitators that owed you absolutely nothing but still earned a commission off you.

But ya'll go ahead, keep going to court representing yourself instead of interviewing and hiring a GOOD attorney.
 

clampett

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Update-- The neighbors house my Daughter was interested in is going to be out of her price range. So I think my Daughter is going to stay with her agent for now. She is looking for a house in Burlington Ma, and there isn't much inventory right now, when something hits the market there is a big response from potential buyers. Over 100 ]people were at a open house last week.
 

mousegunfan

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You guys are over thinking this.

If someone uses an agent to sell a house they pay the commission on the sale, say 6%. If this company sells it by themselves they keep the 6%. If it was multi listed, which gets a lot more eyes, another realtor may find a buyer. In this case they split the fee 3% each. Buyer does not pay.

The odds are this broker is showing their listings first, which don't sound like good fits. But they will try because then they keep the whole 6% fee.

The reason to sign an agreement would be to have them give you better service, at least in theory. I mean I'll work harder for you if I have some commitment from you.
 
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