From the WSJ Real Estate Archives

Find Your Agent
Before Making an Offer

by Robert Irwin
From The Wall Street Journal Online

Question: My wife and I are first- time home buyers. We were unaware that we should have gotten a buying agent to represent us. An agent showed us a property, but this agent was the seller's agent. We made an offer and three days later the sellers rejected it and sent our earnest money check back to us. Is it too late to get a buyer's agent to represent us on this piece of real estate or is the agent who showed this property to us the only agent we can deal with?

-- Rusty, Tulsa, Okla.

Rusty: You can have any agent represent you, providing you haven't previously signed an exclusive agreement (which you obviously haven't) with another agent.

The problem, however, is that agents are usually hesitant to "steal" clients from other agents. Further, in some areas agents amongst themselves have commission sharing arrangements that say that the first agent to show the property (let alone present an offer) is entitled to a part of commission if the property is later sold through a different agent. A new agent may be hesitant to represent you and take in the offer because of this.

I suggest that once you find a buyer's agent whom you like, and sit down and discuss this with them. They will be able to present any problems, and very likely be able to take in a new offer from you.

Mr. Irwin has more than 25 years' experience as a Los Angeles-area real-estate broker. He is the author of more than two dozen books about real estate and is recognized as one of the most knowledgeable writers in the real-estate field. Mr. Irwin's most recent book is "Tips and Traps When Building Your Own Home," (McGraw-Hill, 2000).

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