I was working with an agent from Gainesville doing deals in LAKE CITY. And then the new rules got implemented -- in August -- where the buyer has to pay a commission to the selling agent and this necessitates a buyer/agent agreement.
Today, I made an offer on a house using my Gainesville Agent and he sent me all the forms to sign and I reflexively singed the new form without even reading it. Later on, I was going through the downloaded documents and read the Exclusive Buyer Brokerage Agreement with its restrictions and obligations for almost a month -- with all the legal ripoff jargon.
Now, bear in mind that my agent lives and works in Gainesville and I found a house on my street in Lake City that I wanted to buy ALL CASH. I called up the selling agent and asked him to submit the offer to the listing agent based in Tallahassee. My agent did not lift a finger to help me find that house -- but his brokerage ties me into a brokerage agreement that obligates me to pay him 2.5 commission on the transaction.
Here is THE KICKER: I have written over 100 offers in my life in REAL ESTATE, so why should I have to go to an agent to write up an offer and present it for me -- at a price? I can design my own offer and send it to the listing agent; in my case I do not need an agent to represent me. But I do not think that will work with the AUTHORITARIAN BOARD OF REALTORS.
I think they will get SUED again.
Any thoughts?
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