Profile picture for user4449851

Is it okay to place an offer on two houses each with a different realtor?

I went with a realtor to see a house farther from my job but I really like it and the price, so I placed an offer (it's bank owned and they still haven't answered). Then I saw another house closer to my job with a local realtor and I want to place an offer just in case the other one falls through. I'm a first time home buyer and I haven't had any luck with my offers since I'm doing FHA. Should I go ahead with this?
  • April 24 2012 - Miami
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (6)

It is understandable to use two different agents if you are looking in two different locations.  I personally will only work in my local area, and am not willing to travel great distances.  I have worked with buyers in my local area, and referred these same clients to agents in other towns if they are interested in looking in areas outside of my expertise.  However, be careful if you've signed a buyer's agent agreement with one or both of them.  You could be liable to pay both of them once you purchase a home.  Also, I do not recommend writing an offer on more than one property at a time.  Either rescind the first offer, or wait to make the second offer.  Otherwise, it's possible you could get stuck in two contracts.  Good luck!
  • April 25 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Good Afternoon,

I can see where you may feel the need to make multiple offers given others you have made before have not been accepted. As indicated here already, you may have to take into consideration that depending on how the offers were written, you may be obligated to perform under the terms of the offer if the first seller accepts your offer. Given I work with buyers that are making offers that can be either all cash, conventional or FHA, the type of financing does not always factor in, lots depends on how the offer is presented by your realtor. I know this may appear to be self serving, but you truly are better represented when working with just one agent who will based on your loyalty will make every effort to get you the information on any new listings and when the property meets your needs will fight to have your offer accepted. Look for an agent that can understand exactly what you are looking for in a home and then establish a working relationship with him/her and you will see that you will have much greater sucsess. Please feel free to contact me should you have any questions.

Lila V Lopez
[contact information removed by moderator due to self-promotional]
RE/MAX Advance Realty
Executive Club
#1 RE/MAX office in Florida
  • April 25 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for realtorss
I agree with the other Realtors. You should stick with one agent. In NC, you must sign a written buyer's agency agreement when you make a written offer. When you sign that agreement, you agree to work only with that Realtor until the agreement expires or you terminate the agreement. I would also caution you that in North Carolina, all agents work for the seller unless you have signed a buyer's agency agreement. That means that the agent that represents the house you looked at second, must legally pass all information to the seller, so beware what you say to that listing agent. Find yourself a good buyer's representative and stick with someone you can trust. I am not sure of the laws in your state but it would benefit you to find out and to hire someone as your buyer rep. 

As to the two contracts, I would be cautious of doing that as well. You can terminate your offer on the first property at any time prior to them accepting. If they counter you, you are free to walk away. If you are sure you like the other property more, I would rescind your offer on the bank owned property and move forward with the other.
  • April 24 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Stick with one agent for both offers, and just do one at a time since...

LETS NOT FORGET THAT WITH EACH OFFER, YOU NEED A SEPARATE ESCROW DEPOSIT...

Eve

  • April 24 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You could be liable for two contracts. You can revoke your offer and move onto the next one if it has not been formally accepted. One contract at a time.
  • April 24 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Did you sign a buyers agreement? Also be aware that you may have to perform if both offers are accepted. If timed right you may be able to rescind one offer if the other is accepted.
  • April 24 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.