Browse Forums Real Estate 1 May 05, 2012 10:36 am My husband and I have made an offer for a IP through our preferrred realestate agent who has passed it onto the realestate agent who is the exclusive realestate agent for the property. Our agent thinks the exclusive agent is with holding the offer from the vendor. After thinking about this a few questions keep arising 1. Can we legally contact the other agent to find out the intentions? 2. Why would the exclusive agent be reluctant to pass on our offer to the vendor? 3. Does the exclusive agent have to split any commissions with our agent? Any advice welcome Re: Using different realestate agent 2May 05, 2012 3:13 pm Not sure where you are, but in WA the norm would be: 1. Yes, you can contact the Listing Agent. It is their (exclusive) listing. Although now that your preferred rep is in the middle, it does make it a bit trickier and cause a bit of friction! 2. The listing agent may be reluctant to present the offer due to commission splits, which leads to... 3. Yes, if they have agreed to a conjuctional fee. Ethically speaking, your rep would contact the listing rep and ask if they will accept a conjunction. If the selling rep agrees, they would have an agreement (hopefully in writing) of how much the listing rep will pay the selling rep upon settlement. However, that is not your problem or issue, it is between the listing rep, selling rep and their agencies to deal with. If the listing rep is refusing to present the offer to his clients, there could be a few reasons, and to be honest, we may never know why. But, 2 possible reasons could be a) he knows of another (possibly better) offer that might be coming in or b) he might not want to split his commission with your rep. Who knows, maybe he discounted his fees to begin with, so if he splits it, he'll get even less. People forget that whilst a rep may charge, say, 3% of the sale price, their office/agency will have their own internal commission split, so the rep doesn't actually get that whole 3%; they will get a commission split of maybe 30 - 80% of that. All agencies are different So the listing rep now has to share with his office AND an opposition rep If you had employed your preferred rep as a buyers agent, then YOU as the buyer would pay them a commission % of the sale price. However, because it is a you're now at the mercy of the listing rep to do the 'right thing' as HE is the one shelling out the cash for the sale. At the end of the day, written offers need to be presented to the Principal (property owner). So it is fair to expect either an acceptance, counter offer or rejection in writing within a reasonable timeframe of your rep presenting the offer to the other rep. If they aren't going to accept it, then you need to know as soon as possible so you can keep looking and possibly put in offer in on another property. It wouldn't be good to have another offer accepted, only for this guy to present yours and have it accepted, which would legally have you tied to two properties! I'd suggest that you ask your rep to follow up as soon as possible.. if the other rep isn't going to play fair, then your rep could contact the listing reps Licensee to try to prompt him into action. Whatever you do, make sure that you know for sure that that offer you have signed is completely cancelled before putting on offer on another property. If need be, contact your state's real estate institute or dept of commerce/fair trading for some sound advice on what your next step should be, particularly if you want to cancel the offer. Hope this helps, and isn't too confusing! Oceanic with Nautilus upgrades. Handover 8 September 2010 Before you rip it up, if you can in the grout lines, drill some holes and pour/inject techgrip by sika. I have used it to bond mdf to timber, but in the process it dripped… 1 4287 Not much in this responce. My suggestion is, what are you looking to build and why. This will all be impacted by the local councils planning scheme. Familiarise yourself… 6 5858 yep you need a joint, foam is easiest, will look fine once rendered with a joint. 2 5233 |