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I have a dumb question about getting a real estate agent

Posted on 10/7/16 at 8:38 am
Posted by WG_Dawg
Hoover
Member since Jun 2004
86558 posts
Posted on 10/7/16 at 8:38 am
I am 100% new and ignorant on the home buying process since I've never done it before, and MT has helped answer some good questions before. This may be an OT question but figured I would get better responses here.

So far I've just done some casual browsing online for places. All the places I see that I'm somewhat interested in have an agent listed for that property. My question is, and keep in mind I don't know anything so I don't really have a lot of moxy here, should I just find somehwere I like and then deal with whatever agent has the place listed..as opposed to finding an agent to do a lot of the legwork for me? Waht are the advantages and drawbacks?

I know someone from high school that is a pretty successful agent in the area which is what made me think of this. I'm curious if I should enlist their help or if it's even worth it if I can just keep browsing on my own.
Posted by Tigerbait337
Louisiana
Member since Aug 2008
20535 posts
Posted on 10/7/16 at 8:43 am to
Everything through Realtor.com connects you to a Buyer's agent. It'll be tough to contact the listing agent directly.

Just ask your buddy to represent you. You don't owe him a dime for the legwork and paperwork. The seller of the house pays the commissions to all agents involved in the transaction. Just buy your buddy a bottle of wine
Posted by The Spleen
Member since Dec 2010
38865 posts
Posted on 10/7/16 at 8:49 am to
For your first home purchase I would definitely get a buyer's agent. A good one will walk you through the process and point out things in a potential home you might not catch.

I would not use a friend, but maybe ask that friend for a referral. I'm generally against mixing business and friendship.
Posted by Tactical Insertion
Member since Feb 2011
3205 posts
Posted on 10/7/16 at 10:23 am to
We found ours by going to a couple of open houses until we found someone that we liked and asked them to show us more houses.
Posted by Chad504boy
4 posts
Member since Feb 2005
166500 posts
Posted on 10/7/16 at 12:22 pm to
quote:

WG_Dawg


i've been really interested with possibly buying an investment property that i'm going to rent. i've been doing a lot of my own homework perusing realtor.com and finding properties i need. 2 were bank short sale and banked owned properties, i've missed on both pretty much due to not having an agent and them being able to see the agents notes on property that is not public info. Not a huge deal with 95% of properties listed, but agents allow you to get fast info and act accordingly.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37161 posts
Posted on 10/7/16 at 1:16 pm to
Being that you are admitting to being new at the game, and don't know a lot, an agent is probably your best bet.

The problem with the contacting of a listing agent is this: They are representing the seller. So sure, they could sell you the house. But they are representing the seller, so in most states, the are also not allowed to represent you. That would be a conflict of interest.

You could represent yourself, but again, given your lack of experience, that might not be best for you at this time.

So what happens in my experience is that most of the time, the selling agent just won't return your call, or they will pass it off to someone else in the office, in the hopes they could be the buyer's agent.

The problem with many buyer's agent is that they will likely want you to sign a contract that indicates that ANY house you buy, whether they show it or not, they will get a commission. If you are buying a house listed by another agent, no problem. But if you want to buy a house FSBO, the seller may not want to pay any commission, and then you are on the hook for paying the buyer's agent (at least this is my understanding).

In the end I've never used an agent. I've bought two houses. First was new construction and I bought straight from the builder salesman. Second was FSBO, and I knew the seller, so we just hired an attorney and split the cost of it.
Posted by AUtigR24
Happy Hour
Member since Apr 2011
19755 posts
Posted on 10/7/16 at 11:04 pm to
You don't need an agent at all. Use Zillow / Realtor.com / or your local MLS to find a place you like. When you're ready to see to see it call the listing agent.

If you absolutely feel the need to use one contact one you see on zillow. You can ask them questions and get them to show you properties. They will work for you for absolutely free. They will get paid by the listing broker of the property you buy.
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