For Sale by owner suddenly has Agent Attached. What to do?

[Jah-Leah Ellis]

Hi All, After doing research etc on REI and looking at where my financials are it seemed wholesaling was a good place to start. By chance, while looking for a short term rental for a trip I have, I found a for sale by owner pretty much as my first attempt. within a couple of days, she told me she had found an agent. I was still trying to figure out how the contract thing works. Eventually, Agent gives me a call (talking my ear off) and trying to get me to offer because its "HOT". Owner thought property was already listed on MLS and it is NOT. I actually like the owner and I think agent is a bit... shady? Anyways I now have interested cash buyers ( no solid offers yet). Seller has not signed a contract with me. Agent has said it will hit MLS in 3 days for 20k more. I am in NY ,property is in NJ

How do I proceed? Examples of how my contract should look?

[Patrick Bartlett]

They can have a signed listing agreement with out it being on the MLS. Every area will have their own rules as to when it has to be listed. They can also opt out of the MLS. So if the seller has a signed agreement with the agent stating that agent has exclusive rights to sell, that agent will get paid regardless of who sells it. This may not help you much but if they have involved a real estate agent you may have lost your deal. I agree with Jim, call the owner directly and find out what is going on.