Zillow Advice: Finding a buy-side agent - Would you Buy a home with the Listing Agent? Or would you seek your own represenative?

The listing agent is representing ...

Wed, 21 Oct 2009 03:02:00 GMT

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.

I'm not sure where on Long ...

Tue, 13 Oct 2009 23:17:00 GMT

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.

what ever you decide you ...

Tue, 13 Oct 2009 11:54:00 GMT

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.

Gosh, I feel old. I ...

Tue, 13 Oct 2009 10:06:00 GMT

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.

Most people would tell you ...

Tue, 13 Oct 2009 00:41:00 GMT

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

There are certain things ...

Wed, 16 Sep 2009 21:33:00 GMT

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?

- I did my due diligence ...

Tue, 08 Sep 2009 02:08:00 GMT

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

You are to be congratulated.

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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.

If I buy a REO house through ...

Wed, 26 Aug 2009 04:48:00 GMT

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.

....Fiduciary....huh uh, ...

Fri, 14 Aug 2009 12:37:00 GMT

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

LMFAO!

Fri, 14 Aug 2009 12:30:00 GMT

LMFAO!