Wednesday, July 7, 2010

Are there any laws in Texas preventing a buyer from changing realtors during a home search?

My Wife and I have been looking for a house for 6 Months. While there are plenty on the Market, we have not been able to find one. I believe that this in part due to our current Realtor. We would like to change Realtors, but I do not know if there are any Laws in Texas which would make me Liable. To my knowledge, we have not signed anything.Are there any laws in Texas preventing a buyer from changing realtors during a home search?
No, the only laws that govern what Realtor you can or can't use are contract laws. Since you haven't signed a contract with your current Realtor you can change at any time. Two things to remember are that if you decide to purchase a home your original Realtor has worked to show you, you should use them as they may attempt to collect a commission from you if you don't (most don't have a legal case, but if you think the Realtor would be competent no reason to but yourself in the possible situation.) Second please notify the first Realtor of your decision. We put a lot of work into home searches in most cases and we appreciate knowing that we will no longer be paid for our work rather than a potential client just breaking off contact and a Realtor spending hours trying to reestablish contact.Are there any laws in Texas preventing a buyer from changing realtors during a home search?
In fact, if you don't have a contract with that Realtor, they are actually representing the seller not you. Not only can you use another Realtor, but you can use several at the same time.





Have you talked to a mortgage company to try and get pre-approved for a mortgage?
Do you have a signed buyer broker agreement? If not you can ';fire'; your real estate agent. In most states that is how it works and usually a buyer-broker agreement has a very limited time-frame, i.e. ten days - 30 days etc. Write a letter to the REALTOR and to the Broker of the company for whom he or she works saying that you are dissatisfied with their performance and no longer want them to represent you.





Keep a copy of that letter in case the agent or the brokerage try to claim commissions when you do locate a property. Find a good agent to help you but if you do sign an agreement keep it within short time frames.





Now because this is a buyer's market I am surprised that even with an inexperienced agent you haven't found something. My experience is that someone who can't find a house is someone who is looking in a price range for which they don't qualify or who expects the impossible. I hope that doesn't describe you.





Whoever you work with will give you professional advise. You will need to make a conscious decision to listen to them and take their advice. You usually can't find everything you want at the price you want to pay.

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