If you’re already represented by an agent in a pending real estate transaction, is it ethical and/or legal to do business (tour houses, submit offers) with a different agent?
I made an offer on a short sale, and I’m currently waiting for a response from the bank. The agent originally promised a response within 3-5 business days. It’s been 2 weeks and I still don’t know if the bank is going to accept my offer. What’s worse, my agent says that there’s a higher offer, and I don’t want to raise. In essence, prospects look bleak, but I may not find out for sure for several weeks.
In the mean time, I want to tour other houses and possibly make another offer on a short sale. Last time I made a mistake by going through a full-service agent, this time I want to use a discount broker (redfin).
– Is it okay to make an offer on a different through redfin before breaking relationships with my existing agent?
– Would it be okay to make an offer on the same house, again through redfin, if short sale falls through and it comes back on the market as a REO?
