If I has signed an agreement with my realtor before making an offer am I bound to that realtor if the offer does not go through? Or can I find a new one even though I signed the realtor agreement saying that this is my realtor
2 Answers from Attorneys
It typically depends.
If you are selling your property, typically realtors will have sellers sign a listing agreement for a period of time. Realtors do not typically have buys sign similar agreements.
I would have to look at what you signed, but my guess is that you are free to stop using this realtor and find a new one. As an aside, it is so smart to have an attorney working for you on your purchase. As soon as your offer is accepted, you will be given a purchase and sale to negotiate, deposits will be made, and contract provisions will need to be enforced or extended.
Our office charges a reasonable flat fee to represent both buyers and sellers in a real estate transaction, and it is a tiny fraction of what will be paid to the realtors.
An eventual purchase and sale agreement, likely will call on you to indemnify seller against claims from any other realtors. The first realtor likely would claim that he/she introduced you to the property and you wrongfully discharged them. You should have a real good reason for going with another realtor if you are going to make an offer on the same property. If you are looking elsewhere, you could likely discharge the realtor if you are unhappy with his or her services.
Please feel free to call if you have any further questions.
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