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  1. #1
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    Default A comment on real estate agent practice

    Hi
    I just wanted to make a comment on real estate practice. I believe my recollection is correct of the particular event. All input is welcomed..

    In brief,
    1/ i went to a real estate agent to look at property to buy

    2/ they sought to 'register' me as a client... what ever that means - this being the beginning of my 'problem'

    3/ i then was then TOLD/ informed that if they show me a property (properyty xx) and i then go to ANOTHER real estate agent to check their available properties and this second real estate agent shows me the 'same' property xx and i elect to buy it from the SECOND real estate. I am somehow in breach of some type of agreement i had with the first real estate and i might be liable for having to pay the first real estate some money

    Did i hear this correctly, i just ignored most of what she said as soon as i heard " you can not do" ...and "you must etc...." (last time a looked i had no obligations when i was looking to buy something from a sales person). As soon as i hear that $$h!ttt from the mouth of a scum bag real estate agent i just switch off from listening to them.

    I've bought and sold over 50 properties in my life and im used to the snaky ways of real estate agents so my first response is to either say to myself and often to them 'go [email protected]#k yourself'. Dont tell me what i can and cant do


    Did i hear correctly, is this what some real estates are asking people to do?
    I mean their rationale is ; they have put in the 'hard work' to try to sell a property to me, and because i go to another real estate and buy it from them i am somehow obligated to pay the first real estate a fee. Are they crazy?? i can buy property from whom i wish to buy it from, thats my understanding. How successful are they reclaiming money from these circumstances. id assume not very
    I didnt think i had any obligations to anyone; Is this practice legal?What are your experiences

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  3. #2
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    Default

    Quote Originally Posted by lovemedo View Post
    Hi
    I just wanted to make a comment on real estate practice. I believe my recollection is correct of the particular event. All input is welcomed..

    In brief,
    1/ i went to a real estate agent to look at property to buy

    2/ they sought to 'register' me as a client... what ever that means - this being the beginning of my 'problem'

    3/ i then was then TOLD/ informed that if they show me a property (properyty xx) and i then go to ANOTHER real estate agent to check their available properties and this second real estate agent shows me the 'same' property xx and i elect to buy it from the SECOND real estate. I am somehow in breach of some type of agreement i had with the first real estate and i might be liable for having to pay the first real estate some money

    Did i hear this correctly, i just ignored most of what she said as soon as i heard " you can not do" ...and "you must etc...." (last time a looked i had no obligations when i was looking to buy something from a sales person). As soon as i hear that $$h!ttt from the mouth of a scum bag real estate agent i just switch off from listening to them.

    I've bought and sold over 50 properties in my life and im used to the snaky ways of real estate agents so my first response is to either say to myself and often to them 'go [email protected]#k yourself'. Dont tell me what i can and cant do


    Did i hear correctly, is this what some real estates are asking people to do?
    I mean their rationale is ; they have put in the 'hard work' to try to sell a property to me, and because i go to another real estate and buy it from them i am somehow obligated to pay the first real estate a fee. Are they crazy?? i can buy property from whom i wish to buy it from, thats my understanding. How successful are they reclaiming money from these circumstances. id assume not very
    I didnt think i had any obligations to anyone; Is this practice legal?What are your experiences
    Real estate agents in the DR are not regulated and do not have a license. That being said, what kind of document did you sign. I don't believe that there is any exclusivity unless it is a large complex that this firm is representing. I don't think they can force you to pay them a commission. Why, though would you look at the property again with someone else? Not understanding this. Are you trying to buy this directly from the owner? If that is the case than you are circumventing the process and you and the seller are obligated to pay this real estate agent his rightful commission on the sale. What is the time frame that this has all transpired? You seem to be leaving out some of the details?

  4. #3
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    Default

    Relax.....it works the same in the US. Its called, a contract.

  5. #4
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    Default

    Quote Originally Posted by lovemedo View Post
    Hi
    I just wanted to make a comment on real estate practice. I believe my recollection is correct of the particular event. All input is welcomed..

    In brief,
    1/ i went to a real estate agent to look at property to buy

    2/ they sought to 'register' me as a client... what ever that means - this being the beginning of my 'problem'

    3/ i then was then TOLD/ informed that if they show me a property (properyty xx) and i then go to ANOTHER real estate agent to check their available properties and this second real estate agent shows me the 'same' property xx and i elect to buy it from the SECOND real estate. I am somehow in breach of some type of agreement i had with the first real estate and i might be liable for having to pay the first real estate some money

    Did i hear this correctly, i just ignored most of what she said as soon as i heard " you can not do" ...and "you must etc...." (last time a looked i had no obligations when i was looking to buy something from a sales person). As soon as i hear that $$h!ttt from the mouth of a scum bag real estate agent i just switch off from listening to them.

    I've bought and sold over 50 properties in my life and im used to the snaky ways of real estate agents so my first response is to either say to myself and often to them 'go [email protected]#k yourself'. Dont tell me what i can and cant do


    Did i hear correctly, is this what some real estates are asking people to do?
    I mean their rationale is ; they have put in the 'hard work' to try to sell a property to me, and because i go to another real estate and buy it from them i am somehow obligated to pay the first real estate a fee. Are they crazy?? i can buy property from whom i wish to buy it from, thats my understanding. How successful are they reclaiming money from these circumstances. id assume not very
    I didnt think i had any obligations to anyone; Is this practice legal?What are your experiences
    This is an ordinary practice in real estate. They wanted you to sign a buyer agent agreement, it's never required but many agents would like to have one and what that person told you is absolutely correct and legal everywhere. If you sign a buyer representation agreement, your buy agent shows you a property, you then go to another agent and see the same property and buy it, you would be responsible for ensuring the first agent is paid a commission on that sale. It's called procuring cause and should be clearly stated within any buyer representation agreement.

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  7. #5
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    Default Avoid RE Agents

    Quote Originally Posted by Wishing you well View Post
    Its called, a contract.
    Quote Originally Posted by mainegal View Post
    It's called procuring cause...
    Whatever....

    Do not sign any contract unless it is at the notary when you finally buy.

    Before that any 'motoconcho' will show you properties or connect you with owners until you are fed up...

    donP

  8. #6
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    loveMEdo: you are not developing good relations with vendors. Prepare for a difficult time here.

  9. #7
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    There is no Buyer agency agreement in the DR. Furthermore, if you give the so called "real estate agent"( most zero training and have never had a licence in the States and now sell RE in the DR) your name they will try and register you at "every property" even before you have seen it, yes they do that here in PC. Never forget this FACT about buying real-estate in the DR, the Agents work for the SELLERS interest ( the builders, developers) and its the agents job to try and "hook you"..

    If you are going to buy RE in the DR, use the internet FIRST and try and DEAL DIRECTLY with the builder, why pay some unlicensed DR RE agent commission? The RE agent in the DR is an unnecessary middle man..

    Having said all this, there are some good people working as agents, but they are not necessary and why pay commission in a third world country to some other guy just trying to live the dream too.. You can easily get your own lawyer( for less money than the RE agent who also get a COMMISSION from the lawyers here)... Its not complicated...

  10. #8
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    Quote Originally Posted by mainegal View Post
    This is an ordinary practice in real estate. They wanted you to sign a buyer agent agreement, it's never required but many agents would like to have one and what that person told you is absolutely correct and legal everywhere. If you sign a buyer representation agreement, your buy agent shows you a property, you then go to another agent and see the same property and buy it, you would be responsible for ensuring the first agent is paid a commission on that sale. It's called procuring cause and should be clearly stated within any buyer representation agreement.
    Procuring Cause in the States can be messy, in the DR it can be a Nightmare. And there's no RE Board to moderate.
    He's much better off dealing with someone who does all the referral work behind the scenes - and not making the buyer liable for fees. Good brokers working with good brokers, happens all the time.

  11. #9
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    Default Agent relations

    Quote Originally Posted by tommeyers View Post
    loveMEdo: you are not developing good relations with vendors. Prepare for a difficult time here.
    Is this a threat?
    Are you a RE agent?

    donP

  12. #10
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    Default

    I heard that in the DR, since there is no MLS (Multiple Listing Service), the same property might be listed with several different agencies. And each agency might have a different price for that same property!
    I rent, but I've seen apartments in my complex listed on-line this way (same apartment, different list price at each RE agency).
    I know.....crazy!

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