Realtor question - should I just mind my own business?

[clh2]

This is for realtors...

I have a coworker who looked at a house on Sunday - through an open house, this - the 1st house she really, really liked. Then - her and her husband went and looked at a 2nd house. At the 2nd house - she really liked the realtor.

Now - she is having the 2nd realtor take her through the 1st house again on Thursday. They are bringing a ton of people through the house - mothers, friends etc to look at the house.

I asked her - didn't the realtor who was at the open house have you sign something indicating that you went through the open house - which indicates that realtor would be getting the commission for the house if you later made an offer on the house? My coworker said - yes they did sign something - but she isn't exactly sure what it was.

My question - should the first realtor be told that this is what is going on - or should I just mind my own business? I just hate for someone to get only 1/2 of the commission they should rightfully get. And, technically at this point realtor #2 just seems to be ready to receive 1/2 of a commission she hasn't earned.

My coworker (WHO HAS NEVER MADE A MISTAKE IN HER LIFE) sees nothing wrong with the scenario.

Thanks for any advice!

 

[LucyStorm]

I guess the question really is--what effect does it have on you? If I were your friend, I would tell you that it was none of your concern. This is not meant to be a slam or a putdown, you asked for opinions.

 

[lulugirl]

I have to agree w/ the previous poster. While you may not agree w/ your co workers behavior I really don't see why it is your business.....

 

[oogieboogie]

I don't see anything wrong with it. When DH and I were looking to buy a house, we went through a lot of open houses without a realtor. At each open house, we filled out the guest list, got the realtor's card, etc.

When we narrowed our choices down to 3 houses, we then contacted a realtor to represent us, and we went to see the 3 houses again, this time with the realtor.

She earned a buyer's commission from us, and the seller's realtor earned a seller's commission from the seller. Our realtor really didn't do much for us, since we did most of the research beforehand. However I think she still earned her commission since she helped us with the appointments, the paperwork, etc.

If our realtor was the seller's realtor also, then she would get both commission. A realtor can be a buyer's realtor or a seller's realtor or both. We were careful to select a buyer's realtor only. We didn't want a conflict of interest from our realtor.

Hope that clears it up.

 

[jel0511]

My question - should the first realtor be told that this is what is going on - or should I just mind my own business? I just hate for someone to get only 1/2 of the commission they should rightfully get. And, technically at this point realtor #2 just seems to be ready to receive 1/2 of a commission she hasn't earned.

Actually Realtor #2 isn't entitled to ANY commission from the open house. Realtor #1 is entitled to it, since they signed a paper at the open house. Realtor #2 isn't going to be VERY happy with them when she finds out that they went to the open house BEFORE they signed with her. So, they are basically "screwing" Realtor #2 and wasting her time by having her show them the house again. They should contact Realtor #1 to see the house again.

Should you tell her... No, she'll find out in her own time.......

 

[CEDmom]

DH and I have gone to a lot of open houses and I don't know what this person would have signed. Sometimes the realtor will have a sign in sheet so he/she can contact you but it's not mandatory that you sign in. As long as your friend is up front with realtor #2 about seeing the house already than I don't see a problem. How realtors handle commissions between themselves is quite confusing and not something I'd be too concerned about.

 

[C.Ann]

Originally posted by CEDmom
DH and I have gone to a lot of open houses and I don't know what this person would have signed. Sometimes the realtor will have a sign in sheet so he/she can contact you but it's not mandatory that you sign in. As long as your friend is up front with realtor #2 about seeing the house already than I don't see a problem. How realtors handle commissions between themselves is quite confusing and not something I'd be too concerned about.

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Ditto.. Been through many Open Houses by myself and with DD and her DH and none of us ever signed anything..

I don't see the problem of working with someone you feel comfortable with..

 

[helenabear]

I don't see a problem with it either. Our realtor told us to go to open houses if we liked, but he was there when it came time to doing all the paperwork and offers. He didn't really show us that many homes (we were picky), but wehn it came to the sale of ourse, he got his comission. I know we filled out guest lists so realtors could see who all came and had contacts, but even if we did buy from an open house (and we did put a bid on a house at one point from one) our realtor would have gotten half the comission.

 

[Bojangles]

We usually just signed a guest list with our name and contact number.

I agree, not your problem. Stay out of it.

 

[tstobb]

Laws vary from state to state but in most, if you attend an open house without representation, the Realtor hosting the open house is entitled to the comission if you buy the house. By hosting the open house and having visitors signing in, the 1st agent becomes the procuring cause.

 

[Talking Hands]

Originally posted by oogieboogie
If our realtor was the seller's realtor also, then she would get both commission. A realtor can be a buyer's realtor or a seller's realtor or both. We were careful to select a buyer's realtor only. We didn't want a conflict of interest from our realtor.

Did you pay the realtor her comission? If not, she was not a buyer's realtor. Sorry but her primary allegiance was still to the seller, the person paying the commission. You can be either seller's realtor, transaction realtor, or buyer's realtor. Unless stated in writing at the outset of the transacton, all realtor's are seller's realtors and primary fiduciary responsibility is to the seller.I fyou sign a contract for a buyer's realtor then it is your responsibility to pay the realtor her commission.

 

[Disney Doll]

If all they signed was a sign in sheet, then they do not owe realtor #1 anything. Generally, the way most transactions happen is that there are 2 realtors...one that is listing(selling) the house, and one working with the buyers. They split the commission between the 2.

Unless your friends signed something that says they will work with realtor #1, they are doing nothing wrong. My DH used to tell his clients that if they went to an open house, they should mention that they were already working with Realtor X from Y Company, just so there was no confusion.