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Old 05-20-2011, 10:15 PM
 
Location: Prison!
913 posts, read 2,832,701 times
Reputation: 267

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nah...blame the realtor...greedy bastard..
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Old 05-21-2011, 03:53 AM
 
775 posts, read 1,499,848 times
Reputation: 271
Quote:
Originally Posted by jonjj View Post
Only one side of the coin. In most cases, the buyer also has an agent.
Great idea. So, you are going to rely on someone who gets paid more the higher the house sells for AND who also has to split his commission with the seller's agent. Here's a paragraph from an article in Wise Money:

3) Buyer's agents are especially evil, not because of their moral character, but because of the incentive system. They don't make money unless you actually get your offer accepted. So there is incredible pressure on them to persuade you to overbid in your offer. If you overbid, there is a greater chance that your offer will be accepted. You don't need that kind of pressure when committing yourself to the most expensive purchase of your life.

Also, I'd be interested to see if MOST people actually have a buyer's agent. I know 6 families that have recently moved from the area (the lucky ones). Not one has had a buyer's agent to relocate. I know that's just anectdotal, but I don't feel like a lot of people do that. In my experience, most agents in MD try to pull off dual agency, which in any other form of business would be higly unethical.
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Old 05-21-2011, 04:59 AM
 
Location: Portland, Maine
4,180 posts, read 12,770,595 times
Reputation: 1603
Quote:
Originally Posted by are you kidinme? View Post
Great idea. So, you are going to rely on someone who gets paid more the higher the house sells for AND who also has to split his commission with the seller's agent. Here's a paragraph from an article in Wise Money:

3) Buyer's agents are especially evil, not because of their moral character, but because of the incentive system. They don't make money unless you actually get your offer accepted. So there is incredible pressure on them to persuade you to overbid in your offer. If you overbid, there is a greater chance that your offer will be accepted. You don't need that kind of pressure when committing yourself to the most expensive purchase of your life.

Also, I'd be interested to see if MOST people actually have a buyer's agent. I know 6 families that have recently moved from the area (the lucky ones). Not one has had a buyer's agent to relocate. I know that's just anectdotal, but I don't feel like a lot of people do that. In my experience, most agents in MD try to pull off dual agency, which in any other form of business would be higly unethical.

Although I have always had a buyers agent as I think most people do (at least everyone whoever bought a home from me); I didn't rely on any agent's opinion: buyers or sellers. I investigate for myself and make the correct decision accepting all consequences; good or bad. Blaming others and rationalizing never solves any issue. Saying, "buyer's agents are especially evil" reeks of resentment and rationalization. That's like saying the human race is evil. Everyone in every job has a purpose and that should be known first hand before entering any agreement.

Those 6 people who left your area actually swam upstream as Upper Fells Point has actually increased their standard of living and census count. Look it up!
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