Post # 1
So, we get approved for a home loan through Veterans United and they refer us to a real estate agent. Great! We start working with her and, although there is a bit a personality conflict, she seems fine.
So, I’m cruising around USAA – we bank with them – and find their Movers Advantage program which gives you money back after you purchase a house if you go through their program. Awesome! So, we enroll in their program which consists of a) USAA referring a realtor, b) USAA monitoring the realtor’s ability throughout the process, and c) writing a check for a portion of the home purchase price after you buy. We enroll.
A day later we get a call from the realtor and she says she’s been contacted by USAA and we need to choose a referral. Basically, both Veterans United and USAA want credit for referring her. Why this matters, I have no idea. So, we tell her we’d like USAA to get the referral because we’re enrolled in the program and want cash back. Ok, fine, she gets off the phone.
Today, I get a call and apparently Veterans United says that, because they gave us her contact information first, that they are “keeping” the referral and we need to contact USAA and tell them that we are un-enrolling in their program. Um, no. Do they even have that power?
I’m confused. Why does it matter who referred us? Does the “first” referral have any “dibs” on the realtor? Should I just contact USAA and tell them the situation? Or Veterans United? Or Both?
Any help would be great. I’m so lost.
Post # 3
@aliavenue: I’m not a realtor, nor do I have any familiarity with either of those lenders, but I’m buying a house right now so I have a tiny bit of insight.
Did you sign anything giving the Realtor an exclusivity deal on your house hunting process? Or sign anything with VU declaring your intent to work with them? If the answer is no to both of those questions ask USAA if they can refer a different Realtor. That will remove the conflict. (And get you a new Realtor because you really should have one that you like working with.)
If you signed something with the Realtor, but not VU talk to USAA and explain the situation. VU can’t force you to work with them unless you’ve signed something to that effect.
Post # 4
As far as i know (from what friends have said during their housing hunt) you should be able to switch realtors when you want. they were referred a realtor who just didnt work out, so they found a new one. this all sounds very childish to me. good luck!
Post # 5
@Mrs.Camera: I agree.
@Taylor4: We haven’t signed any documents with any realtor. However, VU is giving us our home loan, so there was tons of paperwork there. However, the realtor assured me that the loan is totally seperate from her responsibilities and duties.
Post # 6
I would call USAA and explain the situation. I’m sure they have encountered this before and can give you advice on what to say to VU so that you can continue with the program.
Post # 7
@aliavenue: What is the USAA’s involvement then? If they are not the lender then it seems like VU, the USAA and the Realtor could work together and it doesn’t really matter who gets the referal. The curious thing is that VU want’s you to unenroll from the USAA program which makes me think there’s some kind of conflict and you can only have one or the other, but not both.
Maybe call VU and understand exactly why they don’t want you working with USAA.
Post # 8
The reason they are telling you that you have to choose a referral is because the Realtor has to pay back those referrals. When a client is referred through a company, they take a percentage of her commission.
Basically, if she were to make $5000 and USAA took their cut, the other place took their cut, and then the Realtor has to pay into her office, she’d be in the hole and walk away with like $100.