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Well, what I meant was when it comes to real estate, and you are probably dealing with your biggest asset in life, it's important to have a good agent representing you. The OP doesn't know if that listing agent is competent, honest and ethical so in general it's better to get someone who your friends/family used before, someone they can recommend.
Most open houses do not allow random people to walk in on their own. We tried going to 2 and were turned away. Buyers need to be with an agent and be pre-approved. They'll have an idea that a buyer is pre-approved if they're accompanied by another agent. The OP isn't talking about going to an open house. She's talking about contracting with either the seller's agent or getting her own. Actually, I was surprised that the listing agent didn't ask her outright either at the showing or beforehand. I did have another agent before mine and every house she showed us, she oversold because she works for the seller not the buyer. Every house we went to she would tell me, "oh, just do some construction...just blow out a wall.." Never use the seller's agent. Ever.
That's a surprise. I am not sure whether it's those particular open houses you went to or that's how it's done around here. That wouldn't make sense though. Maybe it was just some super fancy houses or neighborhoods or whatever? Where I worked, anybody could come in thus the term open house, and actually quite a few people ended up buying just from those open houses. Expensive houses too, and no pre-approvals required or nothing. Unless there was MAAAD demand for those houses you were rejected from, seems to me that not letting people in would be a bad business move, especially today.
In OP's case, doesn't matter what scenario she's talking about. I brought open house as an example. Any major physical contact with the listing agent such as getting him to show you the home and this and that will apply to what I said earlier, open house or not.
The opinions vary widely I see. I have had interactions with a few agents in the past and no e of them were great enough for me to even contact about another property. This is why I went with the losing agent in the first place. I felt like it did t matter if I had my "own" representation because the agents were just trying to get me to buy a house period!
One. Evasive experience I had is with an agent who lied to me about the contents of an MLS listing. He claimed it noted a property had only two bedrooms when the website advertised three. And all this was so he could show me listings from agents he knows well. He took me out to see a house hat very evening and when he thought the house I asked him about was in that area, he went out of his way to drop me loft at a train stations far from the area to make my journey back home! This was he most disgusting experience.
At any rate, I will let you all know what happens. I really like this house
You can also look for online reviews on agents if you ever do need one. I'm new in this area, and I found one straight from internet, and she ended up being very good, helped my fam member buy a condo in Hoboken. Just gotta use common sense and screen 'em properly. There is some good ones and a lot of bad ones just like any other profession.
There is no such thing in logic as an agent of both buyer and seller. It is a contradiction in terms. An agent can only represent ONE person's interests in a negotiation.
Who needs: "Yes, you COULD lowball, but I recommend you offer full price plus 20%."
That's a surprise. I am not sure whether it's those particular open houses you went to or that's how it's done around here. That wouldn't make sense though. Maybe it was just some super fancy houses or neighborhoods or whatever? Where I worked, anybody could come in thus the term open house, and actually quite a few people ended up buying just from those open houses. Expensive houses too, and no pre-approvals required or nothing. Unless there was MAAAD demand for those houses you were rejected from, seems to me that not letting people in would be a bad business move, especially today.
In OP's case, doesn't matter what scenario she's talking about. I brought open house as an example. Any major physical contact with the listing agent such as getting him to show you the home and this and that will apply to what I said earlier, open house or not.
Yeah, I didn't get it either. These were average homes on LI in average neighborhoods. You'd think the agent would have swarmed over potential buyers. This was a few years ago so maybe they've changed but I remember going to 2 open houses and the selling agent asked our agent if we were pre-appoved. If you ask me, that pre-approval doesn't mean anything. It just means what we COULD be approved for. It doesn't mean we got a bank to lend us XXXX amount of dollars just yet.
The opinions vary widely I see. I have had interactions with a few agents in the past and no e of them were great enough for me to even contact about another property. This is why I went with the losing agent in the first place. I felt like it did t matter if I had my "own" representation because the agents were just trying to get me to buy a house period!
One. Evasive experience I had is with an agent who lied to me about the contents of an MLS listing. He claimed it noted a property had only two bedrooms when the website advertised three. And all this was so he could show me listings from agents he knows well. He took me out to see a house hat very evening and when he thought the house I asked him about was in that area, he went out of his way to drop me loft at a train stations far from the area to make my journey back home! This was he most disgusting experience.
At any rate, I will let you all know what happens. I really like this house
Oh jeeze. That sounds like a slime ball we had. Before I found my agent, we actually used 2 others. The 1st guy misrepresented a listing. When we got there and we walked in the house, I was like WTF is up with the huge holes in the wall?? That's when he said, "oh, yeah, this is a shortsale..." and went on to tell us the DRAMA going on between the husband and wife who were divorcing. He just dismissed all the damage as "holes are easy to fix."
Thanks for your response.
This is what I was concerned about. I think it can still work out well for me. I have an attorney and I'm getting a home inspection so it's not like she could pull the wool over my eyes.
What it all comes down to is that she will get a higher comission in the end by representing both parties. Let's see how this plays out!
First, why and how are you expecting to have the wool pulled over your eyes?
Second, the Seller's broker/agent does NOT represent you!
Third, the Seller's broker/agent is paid by a single party, NOT two, and that party is the Seller alone.
Fourth, I hope you realize that YOU must pay the Buyer's Agent, your agent, from your pocket!
The Seller will pay your agent NOTHING.
Fifth, in NYC, all parties are required to be represented by an attorney.
Last, a Buyer's agent is supposed to do the work and find you a house which meets your criteria. So, you don't have to, otherwise what are you paying for?
I had a listing agent show me a house in the bronx this past week. Am I obligated to use her as my representative?
I am able to secure a buyers' agent but I opted not to use one for the viewing for certain reasons. If it would benefit me more, I would use a buyers' agent's representation to place an offer and proceed from there.
Thanks for any help.
I would not use the same listing agent that is working FOR THE SELLER and NOT YOU. Find your own who is working FOR YOU. They can work out the commission on their own time, that is not your concern how much each gets paid.
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