Agent

Must I contract with agent showing open house?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Buyers often find the house they ultimately buy on their own at an open house. Do they have to use the agent that was showing the open house? Buyers should work with the agent of their choice. However, complications can arise when there is confusion about who is working with a buyer. It helps to understand the rules of the game. Some buyers enter into a written buyer representation agreement with a real estate agent. These agreements basically say that the buyers will pay the agent a commission when they buy a house through the agent. If the agreement is exclusive, the agent may be owed a commission even if the buyers purchase using a different agent. For instance, you could find a new listing on the Internet and want to see it right away. You call your agent, with whom you have signed an exclusive agreement to represent you. But she's not available. Then you call the listing office and make an appointment to see the house with the agent who is handling the in-coming calls...