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Old 09-24-2008, 02:39 PM
13 posts, read 24,404 times
Reputation: 21


Hello again. My husband-to-be and I are preparing to move to Dallas in several months from Santa Fe, New Mexico. We're targeting buying a home no more than $300,000 in good areas around White Rock Lake - We like Lakewood, Lake Highlands etc. We're looking for a really wonderful realtor who would act as our buyers agent. Any suggestions? Also, we initially met a realtor who wanted us to immediately sign exclusively with them for 6 months. In addition, the contract had a clause stating that as buyers, we would be responsible for paying the 3% commission should they not be able to obtain it from the seller. Is this common in Texas, and is there any protection against getting stuck with this 3% commission? Finally, the realtor we met with wanted us to sign a $250 fee in order to simply work with them. This seemed strange as we are buyers not sellers. Thanks for any and all advice.
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Old 09-24-2008, 03:02 PM
308 posts, read 1,073,587 times
Reputation: 96
In this market, I would dictate the terms. The exclusive part is ok, but I would say 2-3 months. The $250 fee is bogus and I would find another realtor just because of that.
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Old 09-24-2008, 03:49 PM
Location: Dallas/Fort Worth, Texas
4,121 posts, read 12,982,074 times
Reputation: 2502
I agree with Bill. The $250 is not standard nor needed. Some agents use it as a retainer and you get the money back at closing. I guess those were burned by buyers by spending time showing them homes for months then they end up buying with someone else or a FSBO etc...

It is very important for you to feel 100% comfortable with the agent that represents you.

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