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Using a Relator to buy a house?
Posted on 2/19/18 at 4:45 pm
Posted on 2/19/18 at 4:45 pm
Been a few years since I bought, but with the prevalence of Zillow/realtor.com, is there any benefit to hiring a realtor from the start?
Is there any benefit in trying to find a place and then working with selling realtor on pricing? More likely to play on price, e.g. taking some off selling commission to lower selling price since they’d get the whole bucket instead of having to split.
Just curious. Don’t know if there’s a benefit or not.
Is there any benefit in trying to find a place and then working with selling realtor on pricing? More likely to play on price, e.g. taking some off selling commission to lower selling price since they’d get the whole bucket instead of having to split.
Just curious. Don’t know if there’s a benefit or not.
4
Posted on 2/19/18 at 5:41 pm to Lsut81
There's not really a benefit of using a realtor when buying.
But it also doesn't cost you anything.
Purchase agreements are easy to come by.
Just out offers in writing. Not verbally.
But it also doesn't cost you anything.
Purchase agreements are easy to come by.
Just out offers in writing. Not verbally.
Posted on 2/19/18 at 7:14 pm to LSUTigers00884
quote:
But it also doesn't cost you anything.
I know that, but do seller’s realtors ever say “I’ll knock my commission down from 6% to 4% to close the deal and you accept the lower offer” since they won’t have to pay half to the buyers agent.
I know it’s a case by case basis, but curious if I should hold off on a realtor if there a chance of a better price without one?
Posted on 2/19/18 at 7:27 pm to Lsut81
Wife and I have done it before and we have written in the contract (in large lettering) that “the purchasers are not using a realtor and the seller should consider this offer as 3% more than it’s actual value”.
It worked 2/3 times.
It worked 2/3 times.
Posted on 2/19/18 at 7:28 pm to Lsut81
good luck with that...
Posted on 2/19/18 at 7:39 pm to Lsut81
quote:
I know that, but do seller’s realtors ever say “I’ll knock my commission down from 6% to 4% to close the deal and you accept the lower offer” since they won’t have to pay half to the buyers agent.
Theoretically, yes. Not sure if this ever happens as I've only purchased one home and I did use a realtor. Friends advised me to use a realtor saying a good agent will save you money, and there's no guarantee your scenario would play out.
Posted on 2/20/18 at 7:03 am to Lsut81
If it is listed, use a realtor. The money used to pay your realtor will simply go into the listing agents pocket. And you will have nobody representing you.
In other words, it’s free, or already been paid for. It’s a broken system, but would be silly not to use one, unless you already know and trust the listing agent. But I think it is impossible to represent two different parties interests equally in a transaction
In other words, it’s free, or already been paid for. It’s a broken system, but would be silly not to use one, unless you already know and trust the listing agent. But I think it is impossible to represent two different parties interests equally in a transaction
Posted on 2/20/18 at 8:51 am to Lsut81
quote:
know that, but do seller’s realtors ever say “I’ll knock my commission down from 6% to 4% to close the deal and you accept the lower offer” since they won’t have to pay half to the buyers agent. I know it’s a case by case basis, but curious if I should hold off on a realtor if there a chance of a better price without one?
You will need to specifically ask them to do that. No way they just volunteer to do it. It is most likely to happen if you are already under contract and ask for repairs or something, maybe they will knock it off the commission
Agents think they are worth a whole lot more than they are. They will gladly take $10k rather than $5k for filling out a state mandated purchase agreement.
I am under contract on an investment right now with a dual agent and plan on doing just that. She advised not to go lower than we did and I know it’s because she is thinking about her commission. The house needs repairs so the end price will need to be fair.
Like I said it’s impossible to represent both parties interests equally, especially given that their own interests are at play.
Posted on 2/20/18 at 9:00 am to Lsut81
Just my personal preference here.
I like using my realtor mainly because I trust her to be straight with me on any knowledge she may have that I don't already on certain homes or areas. I also sometimes wonder how much the selling realtor would actually have my back since they are also the seller's realtor. The times I've considered using the selling realtor is because the realtor was the actual seller and not representing someone else.
I like using my realtor mainly because I trust her to be straight with me on any knowledge she may have that I don't already on certain homes or areas. I also sometimes wonder how much the selling realtor would actually have my back since they are also the seller's realtor. The times I've considered using the selling realtor is because the realtor was the actual seller and not representing someone else.
Posted on 2/20/18 at 10:01 am to Brageous
Thanks for the insight... appreciate it
Posted on 2/20/18 at 10:11 am to LSUTigers00884
quote:
There's not really a benefit of using a realtor when buying.
But it also doesn't cost you anything.
Neither of these are true.
It's one of those situations where you don't need realtor to complete any single transaction, but using a competent realtor will likely save you time and provide expertise on what is most likely the largest purchase you will ever make in your life.
The key is to find a competent realtor. It's easy to get your license so not all are created equal.
Posted on 2/20/18 at 10:32 am to Lsut81
I'm selling my house right now and would never have time to show the house and also my realtor has an open house planned that I would never waste my time with.
A guy at work tried selling on his own and would have to leave work early to show his house and it was a disaster. He gave up and just got a realtor.
I'd never fault someone that had the time to sell theirs on their own tho as a realtor is not cheap.
A guy at work tried selling on his own and would have to leave work early to show his house and it was a disaster. He gave up and just got a realtor.
I'd never fault someone that had the time to sell theirs on their own tho as a realtor is not cheap.
Posted on 2/20/18 at 10:52 am to Lsut81
quote:
Thanks for the insight... appreciate it
Also from experience, sometimes the selling realtor isn't allowed to be the realtor for both parties on an agreement. When I sold my last house, a separate document was presented to me I could sign that would allow or disallow my realtor to work for both. Some people don't mind, others do.
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