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#456962 - 03/19/17 09:20 AM buyer agent - no contract question
ht1234 Offline
Junior Member

Registered: 03/19/17
Posts: 2
Loc: CA USA
Hi,
I did not sign a contract with a buyer agent. She had been showing me homes. We even submitted 2 bids but did not get the home. Now I feel that using a buyer agent probably hurt our chance of getting a home in the highly competitive Bay Area market. In a particular case, a seller agent actually told me that the owner or agent sets a higher price target when a buyer agent is involved.
Since I did not sign a buyer agent contract, can I simply not use the buyer agent anymore? Even though I did submit 2 legal bids/offers? Are there any legal/fee issue?

Thanks

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#456972 - 03/20/17 12:16 PM Re: buyer agent - no contract question [Re: ht1234]
Brandon Battle Offline
Junior Member

Registered: 03/20/17
Posts: 7
Loc: Anaheim,CA
Speaking as a future R.E. agent currently in school,you should definitely call the agent who has been spending their time and money working on your behalf and formally end the relationship before making any offers yourself or through another agent.I'm am very surprised they would formally send written offers for purchase on your behalf without a signed buyer's agreement because that can and will cause legal conflicts if you attempt not to pay them for services rendered.By the way,I seriously doubt having an agent represent you in negotiations is hurting your chances to buy real estate even if the seller or the listing agent said so.They knew going into the deal that real buyers always use agents to protect them from getting railroaded into a bad agreement.No property is worth taking a huge risk of being left unprotected and without experienced counsel to get the best price possible.

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#456992 - 03/21/17 03:18 PM Re: buyer agent - no contract question [Re: ht1234]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7688
Loc: PA
If you did not sign a buyer agency agreement, you more than likely do not have any kind of legal commitment to that agent.

However, if the market is highly competitive, it is quite possible that your bids were simply too low or had too many contingencies or both.

The seller doesn't care really who is representing whom, the seller cares about the bottom line, and will go with the highest and best offer.

Did your agent offer advice on your offer price, and did you listen to your agent? Frequently, my buyers will ask me what they should offer, and then they want to offer significantly less than what I suggest, and are miffed when their offers are not accepted with fireworks and celebration from the seller....go figure....

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#457070 - 03/27/17 08:20 PM Re: buyer agent - no contract question [Re: Perky_REALTOR]
ht1234 Offline
Junior Member

Registered: 03/19/17
Posts: 2
Loc: CA USA
Thanks Brandon & Perky_realtor.
Sorry I'm new to this forum and was expecting an email when there's a response to this post. Hence the late reply.
Perky - Yes, we did follow the advice of our buyer agent. Our offer was 10% over asking. We followed our agent advice almost to the dot except that we do want an inspection contingency even though our agent said to have none.
Brandon - Thanks for the advice of talking to our buyer agent to make sure we are in agreement. I believe integrity rules.

Thanks to you both for your help.

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