Some people like playing the field—at least when it comes to real estate agents. These folks believe you’ll cover far more ground if multiple agents are looking for your next home. But is working with more than one agent legit—or straight-up wrong? In the interest of expediting your home search, we looked into whether talking to multiple real estate agents is actually worthwhile.
Can you work with more than one real estate agent?
The short answer is yes, you can work with multiple real estate agents—under certain circumstances. Working with more than one real estate agent is fine when you haven’t signed an exclusive agreement with anyone, says Adam Aguilar, a Realtor® with Reliantra in West Toluca Lake, CA.
“You can use as many as you wish unless they stop to ask you to make a commitment to them, in writing,” Aguilar adds.
Also, if you’re searching for a home in two different locations, you can rationalize working with two different agents. If that’s the case, you should notify both real estate agents and make sure your buyer-broker agreement reflects that arrangement, says Joyce Mitchell of Locations Montana Real Estate in Bigfork, MT.
If you are going to speak with multiple agents, transparency is key.
“If you are simply asking an opinion of another broker, and you have disclosed that you are already working with another broker, it should not be a problem,” says Mitchell.
The downsides of working with multiple real estate agents
Just because you can do something, doesn’t mean you should. As it turns out, consulting multiple real estate agents isn’t as clever a strategy as you might have thought.
You probably won’t find your dream home any faster by asking multiple agents to search listings for you. Why?
“All real estate agents have access to the same information through their multiple listing services,” says Beverley Hourlier, an agent with HC Realty in San Diego.
An agent is likely to consider your relationship seriously if you have an exclusive arrangement.
“If you work with more than one real estate agent, chances are none of them will put forth much effort because you may purchase through another agent,” Hourlier says. “They will work harder for you when they know they will eventually get paid for their efforts.”
It’s in your best interest to do your research and choose one real estate agent who meets your needs, says Alex Cortez of Island Sotheby’s International Realty in Makawao, HI.
“Consulting around without an honest intent to work with an agent will result in mediocre results,” Cortez says. Most agents agree that there is little upside to not committing to one professional to take you all the way through your home-buying journey.
The post ‘Can I Work With Multiple Real Estate Agents?’ Sometimes More Is Less appeared first on Real Estate News & Insights | realtor.com®.
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