Buyer’s agent for SFH? (Evanston, Wilmette: sales, renters, broker)

[Rhino4401]

Do you advise renters buying their first house to use buyer’s agent? Is it smart for anyone who is buying a home without also selling, like a vacation property, to use a buyer’s agent? Does it matter what suburb, or the type of property ?

Around me, Evanston & Wilmette, I notice homes being sold without being on the market. Can buyer’s agents know what places are in the pipeline?

I didn’t use a buyer’s agent when I bought my first home. I kind of backed into working with a friend of a friend. I thought that half the commission she received would be from me, that she was my advocate . After the inspection findings I got that, once there’s a contract, the realtor more works for the seller. I wasn’t in any way tricked, I’d assumed wrong & there wasn’t occasion to realize it until there was a disagreement. It ended up fine, but was stressful for a minute.

[Hiruko]

Originally Posted by Rhino4401

Do you advise renters buying their first house to use buyer’s agent? Is it smart for anyone who is buying a home without also selling, like a vacation property, to use a buyer’s agent? Does it matter what suburb, or the type of property ?

Around me, Evanston & Wilmette, I notice homes being sold without being on the market. Can buyer’s agents know what places are in the pipeline?

I didn’t use a buyer’s agent when I bought my first home. I kind of backed into working with a friend of a friend. I thought that half the commission she received would be from me, that she was my advocate . After the inspection findings I got that, once there’s a contract, the realtor more works for the seller. I wasn’t in any way tricked, I’d assumed wrong & there wasn’t occasion to realize it until there was a disagreement. It ended up fine, but was stressful for a minute.

In Evanston, a local broker is most likely to have information on pocket listings. Dedicated buyers agents are becoming rarer and I see no reason to believe that they are any better than a traditional agent. The buyer's agent and seller's agent both have fiduciary duties to their respective clients. However, their commissions are based on the ultimate sales price. There is simply no way around that. If you need a referral for a North Shore agent, I have personal relationships with a few that I hold in high regard. Feel free to PM me for their information. At least one has a strong policy of never doing 'dual agency,' so you might feel comfortable with him.

[Rhino4401]

Originally Posted by Hiruko

In Evanston, a local broker is most likely to have information on pocket listings. Dedicated buyers agents are becoming rarer and I see no reason to believe that they are any better than a traditional agent. The buyer's agent and seller's agent both have fiduciary duties to their respective clients. However, their commissions are based on the ultimate sales price. There is simply no way around that. If you need a referral for a North Shore agent, I have personal relationships with a few that I hold in high regard. Feel free to PM me for their information. At least one has a strong policy of never doing 'dual agency,' so you might feel comfortable with him.

This makes sense, thank you for spelling it out.