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Would you Buy a home with the Listing Agent? Or would you seek your own represenative?

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When purchasing a home it is a good idea to have an agent that works for you. One that has knowledge of the particular addendums that are needed to protect your interests and get you the best possible deal.

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April 19 - Allyn

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Don Groff, "Austin Texas Realtor"
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Don Groff, "Austin Texas Realtor"

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The listing agent is representing the seller and although they can act as an intermediary they cannot represent your best interests as a buyer. As a Realtor I always refer clients to another Realtor if they would like to make an offer on a property I am listing. Although many Realtor's would get excited about this double commission opportunity you are doing a disservice to one of the two parties.

You cannot effectively negotiate both sides of a real estate transaction. Anybody that tells you they can is just plain wrong and is doing a disservice to their clients in the name of commission. Get a good buyers agent to represent your best interests because the seller already has one.

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October 20

Mack McCoy
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Mack McCoy

Seattle WA

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I'm not sure where on Long Island you're going to find an agent to pull comps for you that isn't the listing agent or a buyer broker, but, that's another story.

Here's the problem - you really just can't go to a real estate office, grab an agent, and tell them, "I wanna buy THIS place, represent me!" Represent you what? Really? "Yeah, I wanna get this, it's listed at 460, I want it for 330." Uh huh. Is this going to be on TV?

Agents prefer to work with buyers who are motivated to buy, not with shoppers who are looking to make offers. So it's not all so easy to just "go find an agent" and make something happen.

The time to have gotten an agent to represent you is during the shopping process, not at the beginning of the negotiating process.

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October 13

Real Estate, "Long Island"
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Real Estate, "Long Island"

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what ever you decide you have to do this:

you have to know the true value to the property of interest to base your offer.

demand from the listing agent to show you all the comparables to the property of interest and watch him do it on the computer. If that agent does not want to do it for you then go to another agent that will, and not a buyer-broker agent. These agents will split the commission that results from the sale.

conditon is a significant factor in value.

any agent that hesitates to a question or trys to skirt the questions, drop them. They're either inexperienced or worse.

Find someone that knows what they're doing and you can trust. This is not going to be easy. You really don't need a buyer-broker agent for this. But if you do, find an expert that can make money for you. After all it's an investment.

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October 13

Nancy Lee, "An OrderLee Home"
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Nancy Lee, "An OrderLee Home"

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Gosh, I feel old. I remember back in the days when dinosaurs walked the earth and we wrote books using chisels & flat stones .... reading articles about buyers/sellers who got unpleasant surprises because they thought the one-and-only agent involved was looking out for them; articles that first floated the idea of formalizing the buyers agent and listing agent roles. It is only my impression, but it seems like things have gotten better since that happened.

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October 13

robert_9
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robert_9

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Most people would tell you that you should use your own agent to be on your side. Some may prefer to work direct with the listing agent to get things done faster and usually the listing agent knows the property best. Most buyers will call on a house but buy a different house. Some will say that there is a conflict of interest when working with the listing agent direct. However, if you end up buying the house at the price you want and the terms you like, I see no conflict. Good luck

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October 12

Jeffrey Rainwater, "jrainwater"
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Jeffrey Rainwater, "jrainwater"

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There are certain things in an offer that you would write differently depending on who you represent. For instance, the party that I am representing makes a huge difference in which option I choose for "Buyer Will [ ] ; Will Not [ ] have a remedy for Seller's negligent errors, inaccuracies, or omissions in Form 17". It may seem logical when you think about it but if I am representing my sellers, I am certainly going to check WILL NOT and if I am representing buyers, I am going to check WILL. The average buyer may not understand but this is just an example of how one little checkbox can make a huge difference and can cause a lot of difference in liability. If you are going straight to a listing agent, you better know what you are doing because that agent will help you write the offer so that it best benifits THEIR client, not you.

And why in the world would you, as a buyer, PAY to use an attorney when you can have an agent take care of everything for no cost to you?

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September 16

Mack McCoy
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Mack McCoy

Seattle WA

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- I did my due diligence as good or better than any dumb agent could have.

You are to be congratulated.

================================

I'm not certain if this is a question or if you're providing an answer, too. Anyway.

Putting aside for the moment the idea that having a buyer's agent go through the existing inventory with you vastly increases the chances of your finding a better home . . . that's really how you get the "best deal."

Having the listing agent write you up isn't a terrible idea, especially if they maintain their agency relationship with the Seller and don't attempt to become a "dual agent."

Racing off to get an agent to negotiate on your behalf after you've found the place seems to work better as an idea than in actual practice.

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September 07

samsanjose
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If I buy a REO house through my agent, then a change my offer get throught out, not submit to the bank. If I buy it through a listing agent then my offer 100% sure will get submit. That my 1 cent.

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August 25

Lady Chattel
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Lady Chattel

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....Fiduciary....huh uh, she said fiduciary........dude, that was so, uh, you know fiducious......

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August 14

klarek the realist
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klarek the realist

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LMFAO!

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August 14

Roberto Ribas, "azrob"
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Roberto Ribas, "azrob"

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as noted by the very bright agent down the list...

paraphrasing: you don't want a duel agent.

I think, that might be because they suddenly draw a sword and attack...

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August 13

NoddyPlaud
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NoddyPlaud

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Yes. An agent is needed. They know the in and outs. But maybe one should consider talking to one or more agents at first. It is hard to be too trusting right? It is like going to your doctor and going in on another doctor for 2nd opinion.:)

I have here a list of real estate companies, you might want to check [content removed by moderator for being self promotional] It is a good start to know some company with good reviews

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August 13

Linda Strasberg, "L Strasberg"
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Linda Strasberg, "L Strasberg"

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When I develop working relationships with potential buyer's I begin by educating them about Buyer's Agency, outlining my fiduciary responsibilities which are as follows: Complete Disclosure, Loyalty, Confidentiality, Obedience and Accountability.

I save my buyer's time and energy by searching the market for an affordable home that meets their criteria.

I view homes with you and provide comparative analysis. I will often times refer my buyer's to expert home inspectors who will provide more in depth analysis and advice.

I will help you to explore your financing options so you can make the best possible mortgage decision.

I will negotiate the best price and take care of the documentation details.

Assist you, if necessary in finding any home related services you need.

In short, I provide my clients with comprehensive high-quality buyer's service. If you'd like to have me help you find a home, please call or email me.

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July 17

workabee
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workabee

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Dinah the original poster is an agent so iI am pretty sure she doesn't need to "find her own agent to fight for her."

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July 17

Pat Lord, "patlordagent"
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Pat Lord, "patlordagent"

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Hi Dinah,

You need your own agent to fight for you! Yes, avoid inexperience agents, as they are out there. Find an agent with 10 years plus of full time expereince. A few awards under their belts. Make sure they are not working any other jobs ... they should be avialable for you most any day. They do need some lead time, as they should have other clients too. You will be ahead of the game.
Best of luck!

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July 16

kblitz9
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kblitz9

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Listen to people who have bought without a buyer's agent, like me. I did my due diligence as good or better than any dumb agent could have. It is not rocket science. Plus the seller's agent wants the full commission so youre the one they want.
Do yourself a favor...DONT LISTEN TO ADVICE BY BROKERS. They are ALL FULL OF IT!

And that is the truth

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April 28

K101
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"It costs you absolutly nothing but yet we are responsible to negotiate in your best interest!"

Hey Drew, what about the mortgage interest on the commission dollars funded by the buyer? Isn't that a cost?

I am not even going to get into the 3% (or whatever) debate. It is tiresome at this point. Just stop lying - all of you.

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April 28

Fredrick Scott, "ACI Broker"
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Fredrick Scott, "ACI Broker"

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The probelm with duel agency (or an agent working for both sides).... Ask yourself this how can I represent your best interest to the seller if i'm representing him/her too?? or vice versa, most times the realtor does enough on both sides to close the file and get that duel agency comission. So ALL of your needs (often times) wont be met, whereby someone working only for you will fight harder for what you want and be much more likely to service you at the highest levels possible.

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April 28

Gordon Stephenson, "Gordon"
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Gordon Stephenson, "Gordon"

Seattle, WA

Real Estate Agent

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I would...but that doesn't mean YOU should. I think it depends on your comfort level with the process, whether you think an agent "on your side" can add value (it often can, all you cynics out there), and whether by foregoing having an agent, you can get some benefit in the deal for the seller not having to pay that "buy side" fee.

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April 27

kblitz9
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kblitz9

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Negotiate in my best interest you say? You my friend are FOS. Everything you and all RE agents do is make moves for their own interests. I thinkRE agents played a major role for the housing crisis.

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April 27

Drew Gaebelein, "Drew Gaebelein"
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Drew Gaebelein, "Drew Gaebelein"

Real Estate Agent

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Always work with your own agent when buying. It costs you absolutly nothing but yet we are responsible to negotiate in your best interest!

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April 27

Linda Strasberg, "L Strasberg"
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Linda Strasberg, "L Strasberg"

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Dinah: You propose a great question....there are a few buyers who feel they don't require fair representation...that is their choice. As a true buyer's agent, I am a firm believer that both parties should have fair representation to the transaction. My buyers feel the same, particularly in light of the events that have taken place in the last few years nationwide.

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April 27

bothellcopter
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bothellcopter

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If business was good, agents wouldn't be trolling zillow for prospective clients. My own experience with agents on both sides of the transaction has been that they are desperate for money. We've been lied to and pressured but haven't found the right place yet. Unless you have a friend or family member that's an agent, I wouldn't deal with any of them right now. Seeing the paycheck dwindle makes otherwise good people act out in desperation and your pocketbook will suffer.

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April 24

kblitz9
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kblitz9

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Spoken like a true Agent DINAH. We don't need you, I don't need you. I h=found a beautiful home, got a great deal without you so called "expertise." To me, you are useless!

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April 24

sunnyview
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I might buy with the listing gent, but only if I was able to maintain professional distance from them and could get a discount or more leverage in the purchase. The listing agent does not represent the buyer and I would not give them any information past chit chat, an offer price and a prequalification letter. In effect, they should be treated like the enemy because they do not represent you.

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April 24

kblitz9
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I wouldn't use an agent for anything. You're a fool. Educate yourself, and everything can be found here and countless other sites. Do your due diligence!

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April 24

Anne Wanchic, "RealEstAgentFinder"
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Anne Wanchic, "RealEstAgentFinder"

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Find a Realtor or Real Estate Agent by Referral
Find a Realtor that you know has the experience you need, and will represent your best interests. To locate the best, you should find a Realtor by referral. If you have no one in your circle of friends or family in the area that can recommend someone who is a top selling or listing agent, try a free referral service. They have the connections to find the best Realtors in the local offices and you will not have to rely on a sales pitch or guesswork.
[content removed by moderator for being self promotional] Good Luck and Best Wishes,
Anne

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April 24

Joe Nernberg, "Home Inspection Pro"
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Joe Nernberg, "Home Inspection Pro"

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Can a lawyer adequately represent both plaintiff and defendant? That's my answer.

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April 19

akoi
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akoi

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get your own representation

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April 19

K101
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I have an offer in on a short sale through the listing agent. I signed a dual agency agreement with him to ensure that he would be entitled to a larger commission than usual because I knew ahead of time that the listing agent is the only party (usually) that can (and must) be in constant contact with the bank to get the deal done. They work much harder on short sales than the typical deal.

I was not concerned about loyalty to the seller or the bank because the seller has moved on and doesn't care what it sells at (the house is so short that he won't be getting a penny out of the deal) and the bank makes up its own mind what an acceptable offer is. I know my market extremely well and have experience with RE purchasing. A buyers' agent would have been useless to me in this deal.

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April 19

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