Question about buyer's, seller's brokers and the buyers
Started by tandare
over 17 years ago
Posts: 459
Member since: Jun 2008
Discussion about
In this scenario what are the options -- if a buyer wants to see an apt but their broker is unavailable to make the appt with the seller's broker? Can you call them yourself and explain situation?
sounds like seller broker is holding out for a direct deal. I wonder how the seller they represent would feel about these limitations on showing requests to benefit the hired broker.
options: Well, how long has the buyer and the buyer broker been waiting to see the unit? Test the seller broker out and have a friend call for a private direct showing, see what happens. If he accomodates, call REBNY, report the broker or leave message with doorman for the owner about what happened. Other than that, you cant force the seller broker to meet you.
In your scenario, it sounds like it's the BUYER'S broker who's not available. Not available for an appointment, or not available enough to even make the call? Neither one is a great situation.
If the buyer broker is genuinely not available for a "reasonable" length of time (e.g., out of the country for two weeks), I would call the seller's broker and explain the situation. Most seller's brokers will be understanding of the situation and honor your buyer / buyer broker relationship.
What they DON'T like is taking the time to cultivate a relationship with a potential buyer, and to then be told, after the fact, that "oh, by the way, I'm working with my own agent."
Thanks urbandigs! I think I wasn't very clear with the original posting --- let me try it this way -- what if the buyer's broker is not available (out of town, whatnot) to make the first contact with seller's broker? Can the buyer themselves contact the seller's broker and explain? Does the buyer broker have to be the individual to make all contact with seller's broker, or can the buyers do it and explain the situation? I guess we could just set up a time to see it and *then* bring in our broker, but I know that often doesn't go well...
And, that said, always apply the "reasonableness" test. If the property is garnering a lot of attention, and perhaps a few offers - whether they're from "direct" buyers or other buyer brokers - don't expect the listing agent to wait around for the return of your buyer broker.
ahhh. Sorry. In that case, many brokers wont make a big deal over it, especially if you mention that your broker whom you have been working with for a while, is away for vacation or family issue, and set the appointment up with this disclosure up front. Assuming there are no OH's which would make it much easier.
If broker gives you a problem, than it depends how serious you want to get. You can ask to speak to their mnanager. With me, its never a problem but I can certainly see some agents out there who wont go out of their way for a showing where the buyer broker is not even around. They feel like they are getting cheated, instead of just trying to sell the unit.
Thanks john and urbandigs - I appreciate the help. This is very useful info and suggestions with how to handle this situation.
I've heard of this scenario before & I really don't understand the seemingly childish, foolish reaction of the seller's broker - they feel like they are getting cheated. It's their job to represent the seller & SELL THE EFFEN UNIT. Period.
Coming at this from the buyer broker perspective - which is what I am - I largely agree with what you're saying. Still, it's in everyone's interest for the potential buyer to tell the seller's broker upfront that he / she is already working with a buyer broker. As I've said, most agents will respect this relationship.
A buyer broker (actually the firm) is entitled to a commission if he / she is the party responsible for providing the buyer that leads to a successful sale. If the buyer broker is AWOL, it certainly weakens that argument.
I have seen Open House situations where the potential buyer begins negotiating price with the listing agent (clearly the job of the buyer broker), with no mention of the buyer broker he plans to bring into the transaction. The situation can also exist where SEVERAL brokers may have spent substantial time with the buyer, and who knows which one - if any - might have brought this particular apartment to the buyer's attention? It's not that unusual to see a situation where two buyer brokers are claiming that they are the one entitled to the commission.
While these situations can USUALLY be resolved, the best course is to be forthright from the get-go.
I'm going to add here -- because I'm from a small firm and I have to say this a lot -- that the buyer's broker-buyer relationship CANNOT be ignored. I swear that there's one big firm that must have a training program teaching their seller brokers to be witchy to people who don't show up with their own brokers on first contact, but technically you DON'T have to.
The Department of State says that as a consumer, you have a right to use the representation you want. It doesn't matter if your broker is on Mars for three months, you still have a right to use them as your representative.
So, the best thing to do is to have your "unavailable" buyers' broker call from wherever, and set up the appointment. I have gotten plenty of calls that run like "Hi, I'm in Dubai, but I have a client that I want to get into your property, can you show to them?"
If that doesn't work -- say your buyer's broker is sitting at grandpa's bedside in the hospice -- then you should call directly and ask for an appointment, explaining that your buyer's broker is unavailable but will show up later in the process.
Either of those courses of action are polite, in my opinion.
Less polite BUT STILL ACCEPTABLE ACCORDING TO DOS is for you to make an appointment yourself, see the apartment several times, and then bring your broker in. At that point standard procedure is for you to write a letter stating that you want X broker to put in your offer on Y property, and to let your broker put in your offer.
Sellers will often hassle you about this -- I'm in a gigantic fight with a new dev seller of a three-bedroom -- but just remember that they're not supposed to. It's your effing money, and you should be able to spend it as you wish.
ali r.
{downtown broker}