Real Estate Agent vs Self (San Antonio, Austin: loan, broker, for sale)

[emccomb1]

My wife and I are 1st time buyers.
If I can find a house we like on my own, what benefits are there to having an agent? Pros/Cons? Help at closing?
Also, if I use an agent, can I get more than 1, ie: one who specializes in North Austin and one in South?

[TexasHorseLady]

Take into consideration that I am an agent in reading this, okay? But also that I'm someone who has bought with and without an agent.

Finding the house is the easy part (though it's easier with an agent because we have access not only to the MLS but to a whole network that works full time finding out what properties are on the market or are about to go on the market or that might be for sale for the right price, plus we can let you know right away when something fitting your parameters goes on the market before someone else snaps it up).

It's after you find the house, and you're going to make an offer and need to know what's a reasonable amount to offer based on the comps (not just what similar properties are on the market for but what similar properties have sold for recently) and the condition of the house as you can see it, and negotiations are going to occur (best done with an objective third party on both sides to keep emotion out of it as much as possible) and then you have to do your due diligence during the option period and make sure that the seller is disclosing what they're supposed to by law and know what questions you should be asking in order to protect yourself what inspections you should have done for that particular community and neighborhood and then there's dealing with your lender and the title company and shepherding everything to closing and catching and fixing any last minute glitches that might prevent closing and . . . well, that's why you would be better to be represented by an agent.

The seller, after all, has a professional representing their interests. Shouldn't you?

Your agent, by the way, is generally paid by the seller's broker out of the percentage that the seller pays their broker. So why wouldn't you want an agent representing you?

As I said, I've done it both ways. With an agent is not only easier, it's safer.

[jwb123]

As a buyer, there is no cost to you - and the service, knowledge and negotiation is invaluable. There is no compelling reason, to me, as a BUYER - to not have an agent. Find one recommended by friends or family, or one you click with - and go with it.

NOT an agent here, never bought without one!

[AustinTraveler]

Definitely use a Buyer's agent!! The Seller's agent represents the Seller only. Your agent can help you out with so many things and the Seller pays the commission. What do you have to lose?? I have always used an agent to buy a house but have always sold my houses myself.

[emccomb1]

What about using 1 vs 2 agents, I think this would be looked down on, right? My reasoning is that I've been told seller's agents ofter specialize in a specific area of town. We are looking both North and South and would prefer some one who knows each are well.

[jenkirk]

Before becoming an agent, I bought and sold my first home on my own.

We ended up buying in a neighborhood that was not selling well. We had the worst tax rate ever (we were first time home buyers and did not know better). Our neighborhood was also having all types of issues with the developer. We bought because we fell in love with the floorplan. We did not get free anything. Our neighbors with realtors got blinds, sprinkler systems, and ceiling fans.

We tried to use a realtor to sell, but no one came to see our home. When our contract expired, we put a for sale by owner sign up. A couple who wanted to get a deal decided to buy our home. So we sold it for the original list price - minus the commission - minus a bit more. Now that I am a realtor, I realize they were unable to buy another home because they only had $100 in option money - which we accepted. They had a horrible time qualifying for their loan, and we had to close a week late because of these issues. We got so incredibly lucky, but if I knew then what I know now - I would have been a nervous wreck!!

[jwb123]

re: using 1 or two agents...

Agents, please correct me if I am wrong, but don't you have to sign an agreement that states you are only going to be working with the one specific individual?

I do think Agents specialized is specific areas, so I think you should first narrow down what you want. North and South Austin seem so different... I think you need to research some more on your own...

[neddy]

We just bought a house and used a realtor and you do have to sign the contract that you are going to only use that agent for a time. And just like Jenbar said try to go either north or south and get an agent in that area. Lots of agents do the whole area but know one area better than the other. Ours knew all of Austin area but she mostly does the NW and CP/Leander areas.

[TexasHorseLady]

You can sign a Buyer's Rep Agreement with agents for different areas, but breaking it down into areas of town is a little bit extreme - usually that's for someone who's looking in, say, Killeen and Georgetown, or San Antonio/New Braunfels, or something like that. Any agent who works in Austin should be able to help you find a home in any part of town here, though they'll be more familiar with one area, perhaps.

My territory, for example, since I do horse properties as well as urban properties, covers at least five counties, and I've been known to (but don't plan to again) go as far as Gonzales with a buyer.

And I cover all of the Austin area, obviously - but, then, I've been here for donkey's years and watched most of it being built.

[Driftwood1]

I would second the idea of choosing your favorite area, THEN the realtor. When we were hunting in '98 we started in Georgetown/north area, and got an agent. Increasingly we kept stumbling on properties south (via the realestate websites, NOT the agent) and kept asking about them , should we take a look?, etc etc.
The responses we dismal at best. The agent all but excluded SWest, CircleC Dripping Springs, and of course Driftwood, where we ended up buying. It wasnt till I called the selling agent myself that our agent finally, grudgingly took us to see it. Made an offer that day and closed in a timely fashion.

The thing is, we kept hearing catch phrases like "why would anyone need to go south of the river?" and "that's nearly at the border" and "there's nothing down there but cowboys" ..
As people from another state, we could have easilly bought into that talk. Thankfully we didnt, and eventually alot of other people didnt either, the SWest is pretty hot these days.. .. Driftwood... well.. not so much YET, but we like that!
Cheers