Expert: Connie Wildasinn-Broker,GRI,Realtor® - 7/2/2009

Question
We have been looking at houses to purchase with a real
estate agent. We have signed no agreement with her about her
services. She has been on vacation for a few days and we
found a FSBO house while she was gone that we like. If we
decide to purchase the FSBO house what is the correct way
too handle the situation with the agent ?

Thanks,

Kirk

Answer
Congratulation on finding a property you wish to consider to purchase... I will assume you know your agent was going out of town, and that no arrangements were made to work with one of her associates in her absence?   You also do not mention when she will return...

Assuming you have been working with her for a while and your trust her to the dealings with your most important purchase... you may wish to try and get in touch with her... I have negotiated from across the globe, in todays world one does not necessary have to be standing next to you to get the job done...

Keep in mind most FSBO's plan on paying a buyers agent... most FSBO's don't know the laws, what is customary to the region, how to qualify a buyer for their property, or how to keep everyone on track as your transcend through your transaction... finding a property is only the first step of many in a home purchase...

You will want to make sure that you have all of your protections in place in your offer with who ever you eventually purchase a home from whether they have an agent or not should not stop you from being represented... right now you are counting the the word of ??? as the gospel... be smart, unless buying property is something you are really (and I mean really) comfortable with... get expert professional help... your agent is worth her weight in gold, especially when one of a million things go wrong that could be wrong... Ask the seller if they are cooperating with buyers agents... again most will say yes... they already knew this was the most likely situation to arise...

Now back to your protocol question... their is none... although we all work on commission, until a deal is closed we receive nothing... if you want to get guidance and information from 'your' agent, you will want to compensate her for her work.. we ususlly receive a 3% buyers agent commission... again.. finding the house is only step one... you must get through the loan, appraisal, value, title, inspection, disclosures etc... professional guidance can be invaluable... the hurdles we agents handle that you the client ever even know about is huge...

Akin to a surgeon.. although you don't really know everything they are going to do, you count on them to make sure that you wake up when it is over, with all the pieces in the right places... a good professional agent does the same in real estate... many times you won't know the damages of not having good representation until later down the road when you have an issue...

Good luck