seller's realtor assiting a buyer?

  1. You have chosen to ignore posts from isabellac3017. Show isabellac3017's posts

    Re: seller's realtor assiting a buyer?

    In Response to seller's realtor assiting a buyer?:
    So, I'm actually wondering if this scenario is ethical/possible. We are trying to sell our condo and our realtor, in my opinion, couldn't sell an ice cube in the desert.  Sadly, we have contract through September.  Since we had hoped to be in the position to buy, we have been looking and have found a home we really like (at an open house).  The realtor said that the family was eager to sell.  We are eager to buy, but there is the non-selling condo in the way.  What I am wondering is, would it be unethical to contact the seller's agent and let her know our situation and interest in the property?  This is the home we would move on, should we get an offer, and we think asking price is fair, we have done a lot of research in the neighborhood.  We are under a contract with our agent, but is it possible to ask the selling agent to spread the word about our condo, in order to sell her current listing?  We are prepared to put our offer in writing. Any thoughts?  Thanks!
    Posted by tibird


    tbird:

    I have been a realtor for 22 years.

    Have your current realtor write up your offer for the house CONTINGENT on
    your selling your condo.  If your realtor doesn't know how to do that, speak
    to his manager.  The contingency would give you a certain  period of time
    to sell your condo. before the offer became good on the new house and would
    let the seller know you are interested.
     
  2. You have chosen to ignore posts from JJLen. Show JJLen's posts

    Re: seller's realtor assiting a buyer?

    "is it possible to ask the selling agent to spread the word about our condo, in order to sell her current listing?"

    Yes, but you would still owe the commission to the agent you have a contact with. Obviously I don't know the details of your specific contract with your listing agent, but that's how they generally work; you aren't forbidden from getting outside help selling your place, but you owe the commission regardless.

    But as the pp said, make an offer on the house you like, contingent on selling your current one. 
     
  3. You have chosen to ignore posts from tibird. Show tibird's posts

    Re: seller's realtor assiting a buyer?

    Thanks for your advice Isabella!  I think I was a little unclear though...
    We do not currently have a buyer's agent.  And our listing agent for our condo is not someone we want to work with on buying.  We are under contract with her to sell, but that is where our relationship with her will end. 
    In the meantime, we were wondering about using the listing agent of the house we like to put in the offer (as a dual agent), contingent on our condo selling. 
    By doing this, we are also hoping that she may send buyers our way (for the condo) in order to get her house sold.  This way, we would all win.

    It sounds perfectly logical to me, but I am fairly unfamiliar with the business end of real estate. 
     
  4. You have chosen to ignore posts from isabellac3017. Show isabellac3017's posts

    Re: seller's realtor assiting a buyer?

    Hi,

    It's perfectly ethical to use the listing agent for the house as your agent. She can absolutely write the offer for you.  You are right in that she would be motivated to sell your condo as well as the house.  In that situation she would
    split the commision for your condo with your broker and would not have to
    split her commision on the house.  Great motivation.  Don't wait too long to
    put your offer in.  People are looking and she may be having an open house there on Sunday.

    Good luck to you.



     

     
  5. You have chosen to ignore posts from tibird. Show tibird's posts

    Re: seller's realtor assiting a buyer?

    Thank you again Isabella! 
    Actually, in this case the house did get an offer which was accepted, so we are back to the search/wait.  But this is good to know just in case!
     
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