Can I change Realtors while under contract?

Originally I was working with a realtor who showed me "her property." As she was saying that it was her property, from outside looking in I thought that she must have been the listing agent, thats what she meant as her property. Fast forward it is her actual short sale property, she didn't disclose that she was a licensed realtor in the contract, and has her boss as my "realtor" on the sales contract. 

Fast forward and she is not working in my favor (Obviously) with negotiations. I need the seller to tack on closing costs and she isn't working that deal out. She also stated that the shortsale price was set, and the bank is not up for negotiations. 

My deal with Wells Fargo went down hill after I didn't approve of a lot of their costs, and started shopping elsewhere. She took that as I was cancelling my contract and started to proceed with her attorney with a cancellation. As I did not want to cancel, and my attorney has already halted this. Can I have another realtor?
  • December 09 2012 - Chicago
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Answers (10)

(1) There is a dual agency form that you should have signed off on which explains how your representation works. 

(2) I know you like the home, but make sure it's a good investment. Have your agent do the comps for the homes to make sure you aren't overpaying on the property. 

(3) You can ask the agent to release you as his/her client & tell them you'd like to bring an agent in that will represent you better. They may agree to it once you explain that there was never any explanation of the dual agency.
  • December 10 2012
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  • December 10 2012
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  • December 10 2012
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When did the seller disclose that she was a licensee - after you signed the contract, or before?
  • December 09 2012
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Hey Guys, for the most part you have grasped everything I said. 

Wetdawgs- This realtor showed me the property, but I didn't know it was her actual property until it was time to sign the contract.

All others, yes her lender has granted me 3% towards closing costs. Wells Fargo was pressuring for more.

Karl- Yes she has the managing broker acting as if he is my Realtor. I have never spoke with him before.

Ofe- I have spoke with my Attorney, and he did state that she was in violation for not stating that she was a license broker. He too, told me to re-think about this property. I love the property and know that even though its a short sale, I am getting an extremely good deal on it either way. So I will suck it up and take it as a lesson learned!
  • December 09 2012
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Profile picture for SoCal Engr
Question for the RE pros...

"Fast forward it is her actual short sale property, she didn't disclose that she was a licensed realtor in the contract, and has her boss as my "realtor" on the sales contract."

As I read this, the REA effectively signed herself out of the transaction. Or, is it standard practice to list the "boss" (assumption is this is the broker, though it may be another REA?) on your contracts?
  • December 09 2012
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Profile picture for Ofe Polack
Since you already seem to have a real estate attorney, why don't you discuss the whole situation with the attorney.  We are not allowed to provide legal counsel.  One thing I would like to clarify is that lenders on short sales tend not to allow any concessions, so whereas you may think that the buyer agent was not working on your behalf, she could very well have been trying to help you by telling you how short sales work.  Try to gain an understanding of how short sales work, they are not flexible, seldom negotiable and most of the time the lender has a price set.  
  • December 09 2012
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You can ask the brokerage for another Realtor® or agent; it is the brokerage that is responsible for the transaction. If you wanted to bring in your own agent, you would have to pay their commission on top of the purchase price.

If the transaction gets cancelled . . . you can then bring on a broker of your choosing and they would get paid by the seller, BUT the entire process will re-start and you may run out of time before the property gets foreclosed on.

All the best,
  • December 09 2012
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This is a bit tough to follow, but what I am understanding is the Realtor,OWNS the house being short saled. Because you aren't able to have involvement in your own short sale (or even family) she has her broker acting as the agent?
  • December 09 2012
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Profile picture for wetdawgs
You will need to look at your contract.   You may discover that once your agent has shown you a house and written a contract, you are responsible to pay the agent.   So, if you bring another agent on board now you may owe a commission out of pocket to either the new agent or the one you've left behind. 

"I need the seller to tack on closing costs"
- that is not likely with a short sale.   You need to be realistic in your expectations.  Did you put this in your initial offer?   If you can't handle the closing costs in your budget, stay away from short sales and foreclosures. Even many regular sellers won't cover the buyer's closing costs.

I'm not following clearly, you said you were working with a Realtor who showed you a property but you didn't know she was a Realtor?
  • December 09 2012
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