A comment on real estate agent practice

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lovemedo

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Nov 3, 2013
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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 F@#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
 

LTSteve

Gold
Jul 9, 2010
5,450
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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 F@#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?
 

mainegal

New member
May 22, 2012
150
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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 F@#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.
 

Contango

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Dec 27, 2010
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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...
 

ctrob

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Nov 9, 2006
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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.
 

Timotero

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Feb 25, 2011
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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!
 

cjewell

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Oct 11, 2004
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I can't comment on what realtors are doing today - I am referencing things many years ago (and I don't believe there were listing agreements then - or at least I didn't have one lol). I can comment on personal experience. I worked for 2 years at a Sosua real estate company again - going back many years now...

I WOULD NEVER WORK IN REAL ESTATE IN DR AGAIN.... here's why:

- You will show a client a property - they will try to go around you and try to work their own deal on a property either direct or through another agent
- You will kill yourself out in the heat to get a listing - then the day after putting your sign up, you will see 5 more from every company in town
- You will spend a week entertaining a client, showing them around, showing them every property under the sun - then you learn they have 3 other agents

I wasted so much time and money and I can tell you that the way many clients treated me was pretty bad - in terms of the work I did almost always for nothing..... or maybe I was just a crappy agent who couldn't close a deal to save my life lol. In 2 years I sold 1 condo and I worked bloody hard, every day.

I know you are going to say --- well that's what it is - but - there is a cost to doing business. Gas, sometimes meals, time.

This is why we have in our regulations in Canada, the concept of exclusive listings and also realtors opt to have clients sign listing agreements.

Now - with that said I get the OP's first post - and I think it comes down to choice. It's the agents 'choice' to ask for a listing agreement and pass if he/she doesn't get one.... the challenge is that in the current environment there will be 5 more realtors waiting to snatch up the OP's business because there really is no loyalty in real-estate in DR.
 

Cdn_Gringo

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Apr 29, 2014
7,782
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Hi

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

It works the same way in North America. When a purchaser hires a RA, that Agent is being paid by the seller via a percentage that will be paid to the the listing Agent and shared with the purchaser's RA. The purchaser incurs no costs for the time and efforts of their own RA.

This contract or agreement is merely an attempt by the Agent who will be working on your behalf but receiving no money from you to protect themselves from doing a lot of work and getting nothing in return if you subsequently decide to deal directly with the seller or the listing Agent.

On the surface nothing nefarious here, but the devil is in the details. Make sure you understand exactly what you are signing and feel free to negotiate and make changes to any agreement you are asked to undertake. You can always walk out and find another RA. Once you sign though, you are stuck with the Agent until the contract expires. It's important to limit the time that the agreement is in force. Usually 60 days is sufficient.

Good luck.
 

the gorgon

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Sep 16, 2010
33,997
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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...

aren't real estate agents in first world countries trying to live the dream too?
 

Chicagoan

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May 27, 2011
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I sold real estate in Illinois for 10 years. We did not use buyers contracts at that time, and relied upon "procuring cause". The problem with that is, it is hard to prove.

Once I was showing a house. Another realtor was coming in as I was leaving. Her customers were people I had shown the house to the week before. I knew that, even though I would be legally entitled to the commission if they purchased the house, it would be a big problem proving it, and very time consuming. I took care of the situation by convincing the people I was with that day to buy the house.
 
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!

I know some realtors post the selling price not including their commission, maybe that is why the prices vary?
 

Hernandez

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Feb 9, 2009
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There is no point to sign any papers with the real estate agent if you want to buy a property. All contracts are between you and the owner, RE agent is NOBODY legally, just a person who shows you the property, who has the keys. Anyway, any paper signed between you and the real estate agent in DR is nothing, they can't sue you in court for this anyway , it will take years with no result. Their commission is not your problem too, it's between them and the seller.
 
Aug 6, 2006
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I know there are SELLER contracts, by which the owner has to pay a commission to the agent even if he sells to someone unknown to the agent, but I have never heard of an exclusive BUYER agreement. I think I would be tempted to sign this with someone else's name, Peter Griffin, Francisco Jones Grandes, Jes?s Estan Camino.

Once I sold some farmland my father had owned. The Real Estate types all told me that they wanted 10%, because there was no house on it. If there had been a house, then the commission was 7%. I got a guy to paint a sign on a 4 X 8 foot sheet of plywood with the price, my name and number, and I sold it for the appraised price, cash in two months. I can't imagine how they justified charging more with no hose to show, no keys to keep. All they had to do was to open the gate and avoid stepping in the equine poop. (I had it rented out to a guy with three mules and a horse).
 

AlterEgo

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Jan 9, 2009
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We have several real estate agents as members here - I'll give this thread 24 hours for one of them to respond as to what is "normal" in DR regarding a buyer's contract.

If they don't, it'll be closed. In the meantime, keep your posts about DR, what happens in the US or in Afghanistan is meaningless and does not belong here.
 

tee

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Sep 14, 2007
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I am a broker here on the north coast for a major company. Let's get one thing straight, it is the SELLER that pays the real estate commission, not the buyer, (even though some of you might argue that ultimately it is the buyers money that is paying the commission). But not buyer can be obligated to pay a real estate company any sort of fee. I have heard of people trying to get clients to get the buyer to sign an exclusive buyers agreement, but these are very rare and certainly nothing that I would encourage, (we do not even encourage sellers to sign an exclusive listing contract). One thing that you will find with some brokerages is that they ask you to sign a visitors sheet, a sheet that states the properties that they visited. The reason for this is to protect the agency from the seller, not the buyer. There are times when a buyer will purchase a property that they viewed through one real estate company via another company, just as there are times when a buyer will try and buy directly through the seller in order to pay less as there would be no commission involved. If this happens, and a seller sells to a buyer directly or via another company, then the original real estate company has evidence that they visited with their clients, which can be used in any legal action against the seller.
Somebody mentioned about the same property being listed with numerous different agencies at different prices. This can be down to a couple of different factors, one being the commission rate. Some companies may decide to cut their commission rate in order to make their properties more attractive to clients. The other reason, and this is the most common is that sellers list their properties with so many different agencies that they eventually forget who they have it listed with, and when it comes to them making a price change, be it raising or lowering the price, they fail to inform all the agencies that have their properties listed. The same goes for when a property is sold, many times people forget or even do not bother to inform everyone that the property has been sold. I know of a few real estate websites where properties were sold but they are still present on the sites. A comment was made by cjewell about what it is like to work in real estate here. Many people think that everyone are sharks when it comes to this business, and I am certainly not denying that they exist, but real estate is definitely not an easy business here, contrary to what most people believe. I can tell you that more than 85% of clients that make enquiries and the few that do eventually visit here, do not purchase. Many times you are nothing more than a tour guide but that is just part of the business and you really should be prepared to accept that before you get into this business. Whenever we have a new agent start, I always prep them by saying to them, prepare to make no money for the next 12 months because that is a reality here....for some, it is very tough to make it in this business and not just because of their lack of experience.
 
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