Seller's agent says I can't have a buyer's agent! Is it true?

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Seller's agent says I can't have a buyer's agent! Is it true?

Ewan Tong
Real Estate Investor · Cambridge, MA · Member since 2015 · 26 posts · 5 votes

Hi BPers! I am an investor in Massachusetts. I ran into an open house very accidentally and I was so fond of that house that I signed an offer right on spot! Now, the seller and her agent have accepted my offer. And I realize that I should have a buyer's agent to guide me through the process. I mentioned this to the seller's agent but she says I should have mentioned this before they accepted the offer! They now don't allow me to have a buyer's agent! Is it legal???

Any feedback will be appreciated!!!

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Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
9y

@Ewan Tong, you can bring in a buyer's agent if you pay their commission. What the seller's agent is telling you is that the buyer's agent commission won't be paid by the seller. Or at least not to your agent. This agent is getting both sides of the commission. 

How did you make an offer? Did the listing agent fill out the paperwork for you? It sounds like you did sign a purchase and sale agreement.

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  • Max T.
    Investor · Philadelphia, PA · Member since 2015 · 3k+ posts · 3k+ votes
    9y

    You should read through the agreement of sale that you signed and see what it says about buyer's representation. It will tell you more than anyone on these forums can.

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  • Ewan Tong
    OP
    Real Estate Investor · Cambridge, MA · Member since 2015 · 26 posts · 5 votes
    9y

    I haven't signed the P&S yet. I just assigned the offer and the seller signed the acceptance. Is there still any chance that I can bring in a buyer's agent?

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  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    9y

    @Ewan Tong, you can bring in a buyer's agent if you pay their commission. What the seller's agent is telling you is that the buyer's agent commission won't be paid by the seller. Or at least not to your agent. This agent is getting both sides of the commission. 

    How did you make an offer? Did the listing agent fill out the paperwork for you? It sounds like you did sign a purchase and sale agreement.

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    BiggerPockets
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  • Mike B.Pro Member
    Developer · Chicago, IL · Member since 2013 · 434 posts · 357 votes
    9y

    If the agent is getting both ends of the commission then shouldn't the agent  be representing both parties?

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  • Dale Shin
    Real Estate Agent · Los Angeles, CA · Member since 2014 · 80 posts · 20 votes
    9y

    as Mike B. stated the seller's agent should now be representing you as well, which means the agent has a fiduciary duty to do his/her best for you.  This can truly be put to the test when it comes to counter offers and negotiating repair items after an inspection.  

    You could say to the agent, "Great, as my agent, I look forward to your looking out for my best interests!"  Maybe that will put the agent on notice as well as maybe give him/her second thoughts on allowing you to bring in your own agent.

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