In a nutshell:
Open Listings is an all-in-one home buying service that replaces your traditional real estate agent. This means that we are subject to the same rules and code of ethics as any traditional agent such as procuring cause.
What is procuring cause?
Essentially, procuring cause gives agents “dibs” on the commission on a property if they have any pre-existing relationship with a buyer relative to that particular property. Even if you work with Open Listings going forward, your previous agent may be able to claim the buying commission on any properties they assisted you with previously. This means that we wouldn't be able to give you the refund and your Open Listings agent wouldn't get paid for all the hard work they did.
You can work with Open Listings to purchase a property if:
- You were not first introduced to the property by another agent.
- You have not visited the property with another agent.
- You have not made inquiries on the property with another agent.
- You have not already made an offer on the property with another agent.
- You do not have an exclusive buyer agreement with another agent.
- You have already ended any pre-existing agreement with another agent.
You cannot work with Open Listings to purchase a property if:
- You’re currently signed to as exclusive buyer agency agreement.
- You were introduced to the property by another agent.
- You’ve been given information and/or guidance on the property by another agent.
- You've already toured the property with another agent.
- You’ve already submitted an offer on the property with another agent.
To make sure that your Open Listings agent will be entitled to the buying agent commission (and you get your refund), you'll need to send an email to your previous agent letting them know that you won't be using their services going forward. You can ask them to notify you of any issues immediately so you can connect them with your new agent.
Need more clarification or help on what to say to your current agent? Email us at email@example.com.