Is It Wrong to Work With More Then One Realtor?

By
Real Estate Agent

Is It Wrong to Work With More Then One Realtor?

Home buyer: " Is it wrong to work with more then one Realtor at the same time? I'm trying to follow proper home-buying etiquette. My friends tell me it's O.k. as long as I keep track of which Realtor showed which property. That way, if you end up purchasing, the correct Realtor is compensated. I've not signed any exclusive contracts with any Realtor.

Is it OK as long as I make sure both Realtors realize I'm working with another agent as well? Some people have told me that Realtors know customers might be working with others, and it's not a big deal."

                                                   

Isn't that a good question? As a Realtor,  I definitely have a 'biased' perpective and answer to that question.  But since the question involves 'working with a Realtor' - who better to answer it? :) 

1.)Yes - if you're working with Realtor's in two different Cities - where each has their own area of expertise! Go ahead and Use 2 Different Realtors! As a matter of fact your local Realtor can probably refer you to a Realtor in the city you're moving to.

2.)If you are Selling Your Home and Buying again - it is possible to work with a Listing Agent to sell your home and a Buyer's Agent in the purchase of your new home.  Often these 2 Realtors can even be a part of a team where they tag-team each other.

More importantly however, is the Buyer asking about this from a legal or moral/ethical perspective?

First of all I want to say that Real Estate Associations in each Province and State have their own rules.  There used to be 'threshold' rights in British Columbia.  This is where the Realtor who introduces you to the house - is the Realtor who gets the commission.  However it's not so cut and dried anymore.See full size image

If you signed a Buyer's Agency Agreement - then you are under 'contract' to work with that and only that Realtor.  If for some reason you choose not to - then your new Realtor may very well end up getting paid by YOU or not at all!  And YOU will be breaching a contract to work with another agent. This can get ugly ... and no one wants "ugly" ...

However if you have No Contract - Let  me Tell you You some Reasons Why it is NOT a good idea to work with more then One Realtor!

Home Buyers often call on signs and advertisements and talk with MANY real estate agents until they find a home that they want to buy ... and then just work with the listing agent to buy the home. Sometimes this is not a good idea, as the home buyer may not get the best deal if  the listing agent is looking out for the best interest of the seller ... not the buyer.

Or the Buyer may work with several different Buyer Agents to see who will find them the best deal. This is ALSO not a very good idea for a couple reasons ...

 

                               

1.  First of all all Agents have the same access to the same homes for sale via the local MLS.  They all have the potential of finding the "best deal".

However Agents only get paid when they successfully find a home for a home buyer ... and it closes. All the up front work of finding the home is done without pay and in good faith that the home buyer that they are working with is using them to represent them. If a home buyer is not disclosing that they are potentially working with other agents, then the Buyer Agent does not have the ability to fairly weigh out the situation and determine whether or not they want to work with that home buyer.

There Are some exceptions though:

  1. If a home buyer wants to work with more than one agent (for whatever reason), the right thing to do is to NOT sign a Buyer Agency Agreement and to notify each agent of this decision.
  2. If a home buyer is considering buying different types of property or different areas, they may consider hiring an "expert" for each area. 
  3. If you're still not sure and don't know if you will like being 'married' to just one agent - Consider  signing a week long Buyer Agency agreement - If after that week, the agent is not a good fit, then the home buyer can move on and find a new agent. Win Win right?

Finding ONE agent to work with is generally going to be your best bet.

                                          

 

If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz  Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.     

Copyright © 2009 By Liz Moras, All Rights Reserved. All photos taken by Liz Moras and copywritten.  Please do not use without permission.   Information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive.  It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd.   

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Re-Blogged 9 times:

Re-Blogged By Re-Blogged At
  1. Mark VanBuskirk 11/11/2009 04:56 PM
  2. Alix Pinzon 11/11/2009 05:03 PM
  3. Joyce Thomas 11/12/2009 12:21 AM
  4. Tim Ludemann 11/12/2009 05:56 AM
  5. D B 11/12/2009 07:12 AM
  6. Gene perez 11/12/2009 10:17 AM
  7. Roland Woodworth 11/12/2009 04:18 PM
  8. Sybil Campbell 11/18/2009 12:33 PM
  9. Susan Emo 11/18/2009 12:51 PM
  10. Rosemary Brooks 11/21/2009 07:14 AM
Topic:
Home Buying
Location:
British Columbia
Groups:
Realtors®
Real Estate Rookie
Posts to Localism
"Whacked"!!!
Diary of a Realtor
Tags:
using more then one realtor
can i use more then one realtor
selling your home and buying

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Ambassador
1,726,516
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Liz...

I wonder why we don't pander to sellers the same way? Why don't we want sellers to work with multiple agents, or sign a listing for a week?

Buyers DEMANDED agency, and AGENTS don't seem to want to give it to them. Makes no sense to me.

Nov 12, 2009 02:10 PM #72
Rainmaker
534,794
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor

Richard - its crazy upside down backwards and inside out ~ I'm thinking that maybe some of that responsibility might lay at our feet? :-)

Uh oh I do know if I'm going to be able to catch up on all the comments - but I do want to say thank you - AND thanks for the Feature!

I so appreciate the individual comments - its so helpful to the whole post - and hopefully to our public that might be reading it!  Thank you!

Nov 12, 2009 03:22 PM #73
Ambassador
2,011,077
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

You've given a good explanation to the buyers and quite a bit for them to consider as have many of the comments.

I usually work with buyer agreements and explain why to my clients when we sit down.  I am happy to have them get to know me before signing an agreement, and feel that they are important for both parties.

Nov 12, 2009 03:37 PM #74
Ambassador
628,288
Roland Woodworth
Q Realty - Clarksville, TN
Q Realty - Power In Real Estate

What a great explanation on this topic Liz. This is put into terms any buyer should be able to understand.

Nov 12, 2009 04:16 PM #75
Ambassador
918,562
Kathy Schowe
California Lifestyle Realty - La Quinta, CA
La Quinta, California 760-333-8886

We really like to have our clients sign a buyer-broker agreement. It gets the client "on board" with you--- but I always tell them-- If you want to cancel this agreement at any time- just let me know and you can walk away.  Kathy

Nov 12, 2009 04:45 PM #76
Rainmaker
375,787
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains

I very seldom work without a buyer's agency agreeement.  My loyalty for the buyer's loyalty.  If they tell me they are working with another Realtor, I try to find out why they are not working with that person exclusively and then make a decision based on the response.  I do step aside on any properties that another agent has shown the buyer prior to contacting me. 

Nov 12, 2009 11:38 PM #77
Rainmaker
534,794
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor

Fernando - thanks! ha......I guess the answer to that question would depend on who you're asking :)

Randy - yep it's a continual educating process - we assume that they know - sometimes the just don't know and I guess sometimes they don't care?

It would be interesting to see how many people get signed buyer's agency agreements - and those that have - what percentage?

Nov 13, 2009 02:52 AM #78
Rainer
391,877
Gary Swanson
Century 21 Harris & Taylor - Grants Pass, OR

Great post Liz.  I solve this problem by requiring a buyer to sign a buyer's agreement.  I'll show them a house or two first, but if they're not ready to sign by then, I politely part ways with them.

Nov 13, 2009 02:59 AM #81
Rainmaker
317,311
Liz Loadholt
Liz Loadholt- AgentOwned Realty- Covering SC - Mount Pleasant, SC
Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

Liz ---- great post and one that every consumer should read ---most of the public does not understand our our profession works.

 
                                                                                

Nov 13, 2009 06:12 AM #82
Ambassador
2,347,886
Robert Vegas Bob Swetz
Las Vegas, NV

Liz - Some interesting points and over twenty years ago when I was purchasing Lake Lots and acreage in the Midwest I would use 2-3 different agents with 1-800 numbers so it didn't cost me anything to call them. Lot's and Acreage are a little different than Homes but it worked for me many times.

VB ;o)

Nov 13, 2009 04:16 PM #83
Rainmaker
1,230,387
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Wow Liz!  I should invite you to speak at my new agent CE class next week.  Well organized & presented very logically.  Come on hop on the next flight east.  I feed my students . . .Mary

Nov 13, 2009 10:14 PM #84
Rainmaker
1,555,702
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Great explanation - and congrats on the feature.  I find that buyers who understand, but still "play the field" are buyers that I really don't want to work with.  They probably won't be honest with you anyway, and just waste your time.

Nov 14, 2009 07:22 AM #85
Rainmaker
534,794
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor

thanks Georgina - you could be right in some cases! :-)

mary yonkers -  I'd love too.......:-)

robert -oh ya?  you were one of THOSE guys were you ? lol

Nov 15, 2009 11:30 AM #86
Ambassador
1,301,562
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Liz - great post . . .  I've reblogged it for readers in our area too.  Thanks

Nov 18, 2009 12:52 PM #87
Rainmaker
501,394
Sonja Patterson
Keller Williams - BV - College Station, TX
Texas Monthly 5-Star Realtor Recipient for the Hou

Wonderful post Liz.  Found it via Susan's reblog!!  The title grabbed me, and I immediately thought, "YES, it's wrong to work with more than one agent...if one of 'em is ME!! :)"  No two timing clients for me. LOL!!

Nov 18, 2009 12:59 PM #88
Rainmaker
534,794
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor

Thanks susan glad you liked it!  That's cute Sonja - thanks! lol

Nov 18, 2009 01:09 PM #89
Rainer
117,939
Kate Talarico
Kates Home Staging and Interior Design - Goshen, NY
RESA, Top Orange County Home Decorator & Stager

Great post, I did not realize a buyer could/would work with several Realtors in the same area.  When I bought my first home I signed a contract with my Realtor and we only used her.  If a buyer is loyal, I am pretty sure your Realtor will find you the home of your dreams.  Thanks for sharing this info.

Nov 19, 2009 10:02 AM #90
Rainmaker
40,986
Terje (Terry) Aaslid
Realty ONE Group - Chandler, AZ
Foreclosed homes / New Homes

Thank you for sharing this with us.

I agree with above comments, loyalty is a two way street.

Nov 21, 2009 02:13 PM #91
Rainmaker
534,794
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor

Terry - thank you - and you're right about the 'loyalty' working both ways!

Kate thanks for that! Here unfortunately buyer's agreements are rare - but I do think it would be good if more Realtors used them!

Nov 21, 2009 02:32 PM #92
Rainer
9,894
Sam Trevino
austINside - Austin, TX

Hello Liz,

I really liked your post. Having once been an Apartment Locator I understand the whole non-loyal customer. Personally I won't work with anyone who will not sign a buyers representation form; granted it could be for one day, week, or month; whatever makes the client comfortable.

Apr 15, 2011 01:39 PM #93
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Liz Moras Migic

Chilliwack, British Columbia - Realtor
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