Can I advertise to find a property while working with Realtor?

Can I advertise to find a property while working with Realtor?

Member since 2020 · 2 posts · 0 votes

My partner and I are finally in a good position to buy our first duplex house hack. We were recommended a buying agent who has been hunting around for us, but he is also a seller's agent and is actively buying and rehabbing homes that are similar to what we're looking for.  The properties he's found for us so far have seemed to be turn-key properties on the high retail end of the price-range.  I have a carpentry background and tools, and we're not afraid of putting in sweat equity.  This is my first time taking the plunge after many months of reading books and listening to podcasts (thanks BiggerPockets!).  

My question is: I'd like to see if I can find a property before it hits the market... Fliers at the local co-op, online ads, letters, etc. We are not in any contract with our buying agent, but I am also not trying to screw him over or anything. I just know I can be pretty resourceful and tend to be good at digging/networking. Also, I'm not sure if he would direct his best finds to other friends or investors and recommend more finished flips to us. We are open to considering his suggestions (we just made an offer on one yesterday and lost it to a cash buyer), but is it bad for me to also post ads solo and buy an FSBO with an attorney if it comes up first?

Thanks for your help and advice!

Ben S.

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Flipper/Rehabber · Lakeland, FL · Member since 2019 · 131 posts · 91 votes
6y

Yes you can unless you signed an agreement with the agent that would prevent you from doing so.  With that said - if you have a location/special niche; most agents will do a direct mail campaign for you.

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  • Flipper/Rehabber · Lakeland, FL · Member since 2019 · 131 posts · 91 votes
    6y

    Yes you can unless you signed an agreement with the agent that would prevent you from doing so.  With that said - if you have a location/special niche; most agents will do a direct mail campaign for you.

  • Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes
    6y

    @Benjamin Sherwyn

    I don’t see a problem with that. If he or she didn’t find you the deal, he is not the procuring cause and shouldn’t be due a commission. That’s the short of it. Good luck.

  • Justin WindhamPro Member
    Banker · Nationwide · Member since 2015 · 4k+ posts · 1k+ votes
    6y

    @Benjamin Sherwyn

    It all comes down to the contract you have with the agent, as @Stephanie Simmons suggested.

    @David M. described an exclusive agency type arrangement, but that wouldn't be true of an exclusive right to buy agreement. You could owe a commission even if you found the property on your own. Again, it just depends on any agreement you may have signed. The legality and prevalence of these agency agreement types can vary from one state to another.

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