Should I get a new realtor?

Question

I emailed my realtor 3 days ago saying I wanted to put an offer on a property. He said he could talk tomorrow AND he's looking into the property for another client as well. Can he represent both of us fairly?

Thanks,

Pam

Thanks,

Pam

Theresa Harris · Answer

If you wanted to put an offer in THREE days ago and he said he could meet with you TOMORROW, I'd find another realtor.  Waiting 4 days to put in an offer is not good.

Corby Goade · Answer

If you have to ask, the answer is yes. That said, it's possible for a Realtor to offer on a single property with more than one client- but they should disclose to you that they are doing that and ethically, they cannot advocate for one client over the other, the offers must stand on their own.

In a situation like that, your best bet is to ask your realtor to have someone else from their office write and present the offer on your behalf under dual agency. If your offer is accepted, you can work with your original realtor to make sure the deal closes. It complicates things a bit, but as mentioned above, time is of the essence and if you have found a property you want to offer on, it's too late to shop for a new realtor.

Will Fraser · Answer

Hi @Pam Holbrook!  You've asked some good questions and gotten some good and pointed thoughts already.  Something I would add to the above sentiments is this:  true . . . agents are aplenty, but not all agents are worth the paper their license is printed on.  In many markets (maybe all of them?) there is a 94/6 disparity . . . 6% of agents do 94% of the work.

If you have an agent who is in the bottom 94%, kick them to the curb and get one who can act faster (either themselves or by systems they have established) and who have an ethical north star that is stronger than you and them both!  The cost of representation to the buyer is the same, whether its the best agent in town or the worst, so go with the best.

Now if you are already working with one of the truly great agents and this is happening, It MAY be worth a pointed conversation, done in love.  Most agents are running around fighting fires and without someone outside of their whirlwind speaking truth to them and helping them see exactly what their actions communicate to their clients, they may not see it.  I know it seems obvious to us (4 days to submit an offer!?!), but it could be that if this is unusual for them, there is a circumstantial thing going on and a constructive conversation could create more buy-in and boost you to the top of their list.

That being said, there's no sense hanging on to a bad agent.  There are simply too many bad ones and too much money at stake to play a fools game like sticking to a lame horse.

Jermell Shavers · Answer

@Pam Holbrook Realtors are a dime a dozen especially when buying fire your realtor and call some feisty hungry newbie they’ll have that offer in 1hour tops I fired my realtor loved her to death but she wasn’t working out. Cute little thing though but couldn’t do what I needed so she had to go

James Galla · Answer

@Pam Holbrook,

I think you may have a lesson in the future that even ONE day of delay can cause you to lose a property. Or, imagine where the seller is sitting on multiple offers, many of those having a timed expiration date of 48 hours. If your agent is taking his time in responding, you'll lose it because of his incompetence. Deals can often come down to competitive bidding, and if your agent isn't there working for you, you need another one.

That agent sounds lazy and not motivated to ensure you have good customer satisfaction. Not to mention, the conflict of interest is glaring.

Hopefully you find someone soon!

Aaron Gordy · Answer

@Pam Holbrook I would have a conversation with the agent. Its a small town and you don't want to burn bridges. I would have a conversation and ask the same thing. Can he represent both clients fairly that is possibly going after the same property? No.

Is he a real estate agent or a broker? If he is a broker then he should have delegated to an agent that he is sponsoring to represent you as he can't fairly represent the other client and you on the same property. The agent that is sponsored has a duty to represent you in spite of the implicit conflict between his/her boss and the agent. Its so common for this sorta thing to play out that this is a major subject within the law of agency coursework to become a real estate agent and broker.

If this guy is an agent then he has an obligation to contact his broker to talk about the situation. Sometimes, the broker will take on the duty who is probably more experienced with this sorta activity. Sometimes the broker will delegate to another agent within his/her firm.

At the end of the day you should be represented properly and fairly. If the guy fails to respond within 3 days to an proposed offer on a property and their isn't a contractual representation agreement then fire his keister because that ain't right but do it properly.  Its a small town.

Lee Falkenhagen · Answer

@Pam Holbrook.  As others have stated...you can't wait 4 days in the Austin market...you can't wait one day...I generally will do a quick CMA and get an offer out samecday for my cash clients...

Roni E. · Answer

I would move onto another realtor.  I would be a worried about the conflict of interest, and waiting 4 days is too long.

Nick Rutkowski · Answer

@Pam Holbrook

Nope, find another realtor.

RJ Dixon · Answer

@Pam Holbrook

I would find another realtor. You can lose a deal easily in a hot market. Need to be quick.

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