Mariana Wagner

What is the Etiquette for Working with More than One Colorado Springs REALTOR®?

As a licensed Colorado Springs Realtor®, I ALWAYS recommend that potential home buyers and sellers interview several different agents before deciding who they will work with. This gives them the security of knowing that they made the right choice when working with an agent.

Read Also: What is a Realtor®?

However, there some times when the line is fuzzy … Some times when a home buyer or seller may want to work with more than one agent. Here are some guidelines for figuring out when and HOW to work with more than one Colorado Springs real estate agent.

Home Sellers

In most cases, if you are looking to sell your home, you will interview several agents and then choose the agent who is a best fit for you and your needs. In most cases, you will sign “An Exclusive Right to Sell” and only work with ONE agent for the duration of the contract or until the home sells.
Read Also: The Difference Between Exclusive Right to Sell and Exclusive Agency [Colorado]

Home Buyers

Many first time home buyers (and several “seasoned” home buyers) will call on signs and advertisements and talk with MANY real estate agents until they find a home that they want to buy … and then just work with the listing agent to buy the home. Honestly, this is not a good idea, as the home buyer will NEVER get a “better deal” than if they had their own representation (Buyer Agent). Remember … the listing agent is only looking out for the best interest of the seller … not the buyer.

Sometimes, a home buyer understands this and decides to “work” with several different Buyer Agents to see who will find them the best deal. This is ALSO not a very good idea for a couple reasons …

1. All Buyer Agents have the exact same access to the exact same homes for sale via the local MLS. No one has “special” knowledge or access to homes that others do not, so they all have the potential of finding the “best deal”.
2. Buyer Agents only get paid when they successfully find a home for a home buyer … and it closes. All the up front work of finding the home is done without pay and in good faith that the home buyer that they are working with is using them to represent them. If a home buyer is not disclosing that they are potentially working with other agents, then the Buyer Agent does not have the ability to fairly weigh out the situation and determine whether or not they want to work with that home buyer.
3. If a home buyer has signed a “Buyer Agency Agreement” with ONE agent, then they are breaching a contract to work with another agent. This can get ugly … and no one wants “ugly” …

Read Also:

• Top 5 Ways to Choose the BEST Real Estate Agent When Buying a Home in Colorado Springs
• 3 Easy Ways to Find a Buyers Agent to Represent You
• Top 7 Questions to Ask Your Buyer’s Agent

However, there ARE some exceptions.

1. If a home buyer wants to work with more than one agent (for whatever reason), the proper etiquette is to NOT sign a Buyer Agency Agreement and to notify each agent of this decision.
2. If a home buyer is considering buying different types of property or different areas, they may consider hiring an “expert” for each area. Example: Sally and Sam don’t know if they want a downtown condo or horse property, so they hire a “ranch” expert to help them find horse property and a “condo” expert to help them find a condo. This is actually a GREAT idea, as it ensures the home buyers that they are getting the best possible representation in their home search and purchase.
3. This is kind of an exception, but more of an FYI … Some people work with more than one agent because they don’t know if they are going to “like” being “married” to just one agent. In this case, a home buyer should consider just signing a week long Buyer Agency agreement – If after that week, the agent is not a good fit, then the home buyer can move on and find a new agent.

Realtors® are professionals and should be always looking out for a home buyer and seller’s best interests. Finding ONE agent to work with is generally going to be your best bet.

September 27th, 2009 by Mariana Wagner | Leave A Comment

This entry was posted on Sunday, September 27th, 2009 at 6:42 pm and is filed under BUYERS, Colorado Springs Real Estate, Real Estate FAQ's, Real Estate General, SELLERS. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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