MORE THAN ONE REALTOR - WANT TO BE ETHICAL

[Steve Heffner]

Hi, all!

Great to be here. Newbie, going for pre-approval this week and starting the first duplex house hunt. I have a realtor I've known for a few years that I trust. She is going to help in the hunt. Jump down to QUESTIONS if you don't need there reason I'm posting. (ha)

Today, on Zillow, I sent an inquiry about a foreclosure that said "listing removed". I merely asked, "is this still on the market?"

I quickly got a call back, not from the agent who originally listed the property on Zillow, but from a foreclosure agent. First question was, "do you have a signed agreement with this realtor you're working with?" I said, "No, I just started looking and I only want to know if this property is still available because I know it and I'm interested".  

The guy hemmed and hawed and sorta-kinda didn't want to answer my question. So, I said, "Would you mind just finding out if this is still listed, please? That shouldn't be a difficult question to get an answer to, correct?"  So, he put me on hold for a while and then said, "Sir, I'll get the agent who's dealing with that foreclosure to call you and maybe she can answer your question". So, I responded, "Thank you. Much appreciated. Not sure why there's a 'maybe' in there but if she can't answer the question I'll move on." Then, I was put on hold again. He comes back with, "Uh, sir, I have contacted the foreclosure agent for you and she said she will most certainly give you a call today." I thanked him and I'll speak to her later. But this made me feel like I'm cheating on my realtor and these guys just want the commission all to themselves. 

QUESTIONS: I know realtors need to make their commission but it's going to be impossible to work with one agent while trying to buy multiple properties in different areas, correct? Of course, I want to use the agent I know as a primary, "go to"... someone I trust. But is it ethical to call on different properties myself and deal with the listing agents, too? And do I bring my primary agent in on the deal? Is it unethical if I find a property she didn't and want to cut through the red tape and contact the listing agent? Hope this makes sense. In a nutshell, I don't want to start off on the wrong foot and step on anyone's toes by doing something that's "not cool". I just heard on BP podcast, an investor saying she has nine different agents she works with so I'm assuming you have to do what you have to do to find and purchase a property. 

Sorry for the longwinded post but this is my first . . . ! Thanks, all!

[Christopher Phillips]

@Steve Heffner

You're going about it the wrong way.

If you are going to work with an agent you trust, send them the MLS number or the address and have them check it out.

There isn't any "red tape." It's available or it's not. Your agent would have just contacted the listing agent directly instead of getting the runaround.

Here's the deal with multiple agents... If it's listed in the MLS, there's no point in having multiple agents, they all have access to the property. If you're going directly through the listing agent, you're going in without representation. The listing agent represents the seller and has no duty to the buyer. The seller pays the commission, so there's no point in going in without a buyer agent.

The only time working with other agents could be useful is when the agents can present you off market deals. However, not all agents look for off market deals. Foreclosed properties are generally always listed on the MLS. So, an agent that is actively looking for listings "could" potentially find you a deal.