An Ultra - Newbie Question

Comments(10)

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  LarryNut13th January, 2005

  Part of the contract that the seller has signed with the realtor says that the seller will refer all potential buyers to them. Most sellers will tell you to contact their realtor. A legal document exists, and you should go through the realtor (unless and until the seller decides to terminate that contract).

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  kenmax13th January, 2005

  it's is also unethical to do this. if you do it will not take many like this and you will be "marked" i do not like to deal with them be if they have listed they have put time and money into the listing. if you can make this happen and the seller is under contract to sell with them the agent can sue you and/or the seller for bridge of contract..........km

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  batta_12313th January, 2005

  Thanks for the speedy replies; they're appreciated. Now I know.

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  batta_12314th January, 2005

  One more thing I'd like to add/ask:
  
  I'm not going to present an offer directly to a seller if he's using a realtor.
  
  But there is a guy down the street from me who's house has been on the market for a very long time (he's using a realtor). I see him sometimes, but not often......we'll nod if we see each other, but we're not friends or anything.
  
  Is there anything unethical / illegal if I were to see him in the neighborhood one day and ask him if he were open to financing the house himself? If his answer was yes or maybe, I would, of course, go through the realtor from there.
  
  Or would I need to ask that question through the realtor?

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  JohnMichael14th January, 2005

  The obligation with the realtor is between the seller and not the realtor.
  
  There is not law that requires you to go through the listing agent.
  
  I always contact the property owner directly, unless the lead comes from the realtor than I go through them.
  [addsig]

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  batta_12314th January, 2005

  Thanks JM.

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  edmeyer14th January, 2005

  I usually purchase through realtors. In fact, I am currently at one of my realtor's house for the weekend. He has become a very good friend and I am the first he calls when he has a good deal. He is also a source of information about maintenance people and suppliers needed to run my rental business. You might find realtors to be helpful for you as well
  
  Keep in mind also that when you buy, the seller is usually paying the RE commission. Once you get to know a realtor, he/she might allow you to deal directly with the seller (usually in their presence). This will allow you to probe the seller motivation and negotiate a deal that works for all.

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  invenitdave16th January, 2005

  Realtors are not bad people. There are lazy realtors, but if you find a good one, he/she will become an asset. There is enough money out there for everybody.

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  invenitdave16th January, 2005

  I know nothing of this web site, but I do know that there are a lot of people out there selling info that is really just public domain. Much of what they sell is worthless. Much of it is old info, or info easily obtained somewhere else on-line if you know where to look. If you are interested, e-mail me and I will sell you...Ha! just kidding...I will share with you the sites I use. I get my comps from a free site. I pay 10 bucks a week for a foreclosure site that I feel is well worth the money. You will find that you need to spend an hour a day on line looking, and 5-6 hours a week physically looking at property. I look first thing in the morning, early, and often I call a realtor about a property and they have no idea it is on the market yet. There is no easy way to do this . If you love it, it is fun. Much of what you need for information can be found from this site.

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  PinPointEnt16th January, 2005

  Thanks Dave, I appreciate your efforts!