Can I use several real estate agents at the same time? Yes, you can use multiple real estate agents at the same time. When certain buyers are searching for a home, they often employ different real estate agents. For ethical reasons, real estate agents use a code that prevents them from getting in the way of another agent’s sales. Although legally, there are no rules or laws that sanction or limit buyers using more than one real estate agent or real estate broker.
Some prefer to use several agents to search for their homes because more land will be covered. However, is there legitimacy in this action, or should it not be done? To make your search faster, we will study whether employing several real estate agents in this article is productive.
Work with more than one real estate agent.
As stated above, it is possible under some circumstances to work with several real estate agents. By not signing an exclusive agreement with another person, you can work with more than one real estate agent. The only parameter is a written agreement or contract where we commit to working with a single agent. On the other hand, if you need or want to find a home in different places, you can perfectly use two different agents.
If this is the situation, it is best to clarify with the two real estate agents to establish the agreement terms between the buyer and the broker. It must be as transparent as possible to be successful in using two or more agents,
When you ask for the point of view of another agent, and it is clear that you are working with another broker, no inconvenience can occur.
Cons of working with multiple real estate agents
Having the ability to perform an activity does not mean that you must perform it. Perhaps working with more than one agent is not as recommended as you think.
There is a certain possibility that searching for a home using multiple agents will not speed up the process because the information these agents need is available to everyone, thanks to their multiple listing services.
Exclusivity agreements allow for the seriousness with which the agent will look at you. Working with multiple agents may avoid an effort on their part since you can purchase through another agent.
Now, if you let them know that their efforts will pay off, they will work harder for you. The ideal is to analyze which of the real estate agents best suits your interests.
Two different Real Estate Agents
You can safely work with two real estate agents if you don’t sign with one agent.
This type of signed agreement is a “buyer’s representation agreement or a buyer’s intermediary agreement” in almost all areas.
When such a contract is signed, and the purchase is made with another broker the compensation may need to be made to the agent with whom you signed the agreement.
Different agent job
In the same brokerage, the agent change does not contradict the entire contract, which is usually signed with a brokerage and not with an agent, for a period ranging from 60 to 90 days. Certain real estate agents may agree to terminate your contract, but not before your costs are reimbursed.
Two real estate agents and ethics
If an agent realizes that the buyer is working with more than one agent, the agent will have no desire to work with that buyer. Although there are no regulations that tell buyers only with one agent, agents adhere to a code of ethics to avoid getting involved in the sales of another agent.
Agents will view a buyer who tries to use two real estate agents as unreliable.
Characteristics of an Agent that Outperforms Another
Communication: this is a characteristic that makes the difference between one real estate agent and another.
It allows that when you want to schedule a meeting with your agent, he will be ready and arrive at the meeting.
Communication also means that your agent uses honesty when showing you the homes they find. Even if there are factors that put their honesty with you at risk, such as earning a good commission if you sell a non-budgeted house, communication will make them honest.
Frequently Asked Questions
Can you work with multiple real estate agents?
Of course, yes. If you want to find a home using the service of several agents, you can do it. No laws are preventing it.
Can I use several real estate agents at the same time?
Yes possible. This will not speed up the process. However, it is feasible to use two different agents when searching for a home in different locations.
The code of ethics that real estate agents have is to carry out their work and not interfere in the sales of other colleagues. But, when there is no signed exclusivity contract, there is no fault.
How does the real estate sector work?
In the United States, real estate agents provide the service and earn a commission. Said money corresponding to that commission goes to brokers as a percentage of the house’s list price.
The buying agent and the selling agent divide this commission. They receive the payment when they close the deal.
Can a buyer work with multiple real estate agents?
Yes, it can. In almost all areas, there is a buyer’s intermediary agreement or a buyer’s representation agreement. They are agreements that you should avoid when you want to work with multiple real estate agents.
Otherwise, you will have to compensate the agent with whom you signed any of these agreements by using multiple agents.
How many real estate agents should I use?
Those that you think is convenient and depend on the purchase you want to make. The important thing is that you do not sign a contract where you agree with the agent to work only with him because you will have to compensate him if you use another age.
If you sign an agency agreement and feel that you’re not getting anything from your existing agent, we would first talk to the agent and broker. If you don’t make adjustments, you may be eligible to terminate the contract owing to the agent failing to perform their fiduciary obligations; nevertheless, we would analyze the contract’s provisions before considering termination.
Sheena Whitlock, a property expert, and blogger with over 15 years of experience in the field. The knowledge and skills Sheena has acquired during her career have given her invaluable insight into the property management business.
She has done her Property Development BSc (Hons) from the University of Portsmouth and completed her Master’s Degrees in Property Management from the University of Chicago.
As a professional, she has spent time working for various companies as a property management officer and currently works at Asset Info Hub where she shares her knowledge and experience on various property matters with people around the world, questioning their queries via blogging and virtual consulting services.