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Message
I have a dumb question about getting a real estate agent
Posted on 10/7/16 at 8:38 am
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.
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 on 10/7/16 at 8:43 am to WG_Dawg
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
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 on 10/7/16 at 8:49 am to WG_Dawg
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.
I would not use a friend, but maybe ask that friend for a referral. I'm generally against mixing business and friendship.
Posted on 10/7/16 at 8:50 am to Tigerbait337
quote:
Tigerbait337
This guy thinks he knows what it takes be a real estate agent
Posted on 10/7/16 at 9:09 am to The Spleen
quote:
For your first home purchase I would definitely get a buyer's agent.
Cool, it actually has "buyers agent" on their card.
And this isn't really a "friend", more so a casual acquaintance I know through mutual friends. Honestly I haven't spoken to this person in probably 10 years, but I went to a good friend's birthday the other week and she was there and that's when the topic came up. I guess what I'm saying is that whatever happens in this thing it's not really going to put a strain on our "friendship".
Posted on 10/7/16 at 9:18 am to WG_Dawg
Get an agent. At the very least they can inform you of areas you may have no knowledge of.
I used an agent. I was glad to use one. He arranged everything and handled just about everything.
It was easy and not stressful at all.
I used an agent. I was glad to use one. He arranged everything and handled just about everything.
It was easy and not stressful at all.
Posted on 10/7/16 at 10:23 am to WG_Dawg
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 on 10/7/16 at 11:32 am to Tactical Insertion
The only dumb question, is the one not asked!
Posted on 10/7/16 at 12:22 pm to WG_Dawg
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 on 10/7/16 at 1:16 pm to WG_Dawg
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.
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 on 10/7/16 at 1:26 pm to LSUFanHouston
quote:
First was new construction and I bought straight from the builder salesman
Were you able to get a better deal in this situation because there was no agent to pay the commission so it went back to you and the builder?
Posted on 10/7/16 at 1:41 pm to LSU9102
quote:
Were you able to get a better deal in this situation because there was no agent to pay the commission so it went back to you and the builder?
I felt I got a good deal, but I had a unique situation.
The house was built and the person who was supposed to buy it, it fell through, so it became an inventory house. The list cost, which was the original cost with no incentives, plus options, was $158K. The house was done and just sitting. Further, the builder was just about done in the neighborhood.
We negotiated and we ended up paying a price of $123K. In addition, we got 6% back in closing cost assistance, plus we got a $2,500 gift certificate to Gallery Furniture. The 6% assistance was enough to pay all closing costs including a full year of insurance and pre-paids for escrow, AND had enough cash to buy down the interest rate by a full half-percent. We were Katrina refugees so the FHA had a program where we could buy a house with no down payment needed. So I literally did not pay a dime at closing.
Would I have gotten a better or worse deal using an agent? Dunno. I was getting transferred there after the storm, I needed a house, he needed to sell a house, we viewed the house, opened, and completed negotations over the course of a weekend, and closed in 22 days.
Posted on 10/7/16 at 11:04 pm to WG_Dawg
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.
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.
Posted on 10/8/16 at 10:50 pm to AUtigR24
quote:
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.
Worst advice right here.
You do not want want to call the listing agent, they have an established relationship with the seller already and will look out for their best interest. This is like using your spouse's divorce attorney because you know, it is cheaper than having two attorneys involved.
If your friend is an established and experienced agent that may be your best bet. But I would still read online reviews to see what others say about them as an agent.
I work with agents daily, some are good and some are horrible. Working with the wrong agent could cost you quite a bit of money.
Posted on 10/9/16 at 9:16 pm to novabill
I do NOT recommend zillow or trulia. The listings aren't updated and you will spend a lot of time looking at houses that are pending or sold but the site hasn't updated them and still say active.
Realtor.com is updated every time the local MLS is updated by realtors. Use this site. And if you click for more info, they'll connect you with a buyers agent
Realtor.com is updated every time the local MLS is updated by realtors. Use this site. And if you click for more info, they'll connect you with a buyers agent
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