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Rector firm conflict of interest.

I have a signed buyer agency agreement with a agent of a large firm. I sourced an unlisted property and asked my buyer agent to get me a showing which he did. I then wrote an offer and had my buyer agent deliver. The seller then contacted another agent from the same firm. The response I got was a rejected offer and the new agent listed the property. How am I being represented? Our offer was cash. No financing appraisal or inspection contingency. Is this not a situation where the new agent and the firm are conflicted?
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April 29 2012 - Town of Madison
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No.  The seller is under ZERO obligation to accept your offer just because you submit one.  It's that simple. 
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April 29 2012
Real estate agents are independent contractors and not employees of brokers / companies. Just because two agents are affiliated with the same company does not mean there is any collusion or conflict of interest.

Was your offer substantially less than what the price was listed for once they rejected your offer? And when you presented your offer, did you provide proof of funds to show you had the cash on hand to close the transaction?
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April 29 2012
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Yes to proof of funds. Do not know. They have not posted listing. Offer is spot on comps which are recent and within 1 block!
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April 29 2012
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My question is not why they rejected. It is how does a firm who receives a cut of deals. Allow an agent to list an unlisted property upon giving advise to reject. If they had countered me first I might understand but seems a conflict to reject then list.
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April 29 2012
The agent didn't reject your offer, it was the homeowners. Apparently they were convinced that if they placed their home on the open market (and have it listed with an agent) that they could get more than what you had offered.

I fail to see the conflict of interest issue as the homeowners are free to decide whether to list and whom to use to list their home. And they're free to accept or reject any offer.
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April 29 2012
No conflict, if you are still interested make another offer! Good luck.
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April 29 2012
Would it have made you feel better if the Seller had rejected your offer and then listed it with a different agency?  The result would have been the same. 

There has to be a meeting of the minds between the Buyer and Seller.  The agents can only do so much. 
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April 29 2012
You say that the owner contacted a agent from the same firm (large firm).  In Madison, there are some firms with over a thousand agents.  It would be difficult in some areas not to contact the same firm.  I could understand your angry if your agent listed the home.  You hired a buyer's agent - I assume a competent agent - so, ask your agent for advice, and then follow it.  Maybe YOUR market analysis should not be trusted.  The seller obviously felt that they needed representation as well.
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May 01 2012
 
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