Real Estate Agent (Gilbert, Queen Creek: work, houses, commission)

[maxhouse]

Hi all,

I've ben looking at houses in the Queen Creek and Gilbert area using ZipRealty.com. But I have read in various threads in this forum things about "hiring a real estate agent" and "commission", and my question is: as a buyer do I need to pay a real estate agent?

Is it a good idea to go with one of the agents from ZipRealty.com? Any experience with ZipRealty.com?

When I bought my previous house in NY, I didn't have to hire an agent or pay any commission -- one day I walked into an open house and the agent there asked if I am working with an agent already and I said no. She offered to be my agent and started emailing me properties that come on the market (that are listed by other agents from other companies). When I closed the deal I didn't have to pay her anything -- she gets her commission from the seller's agent. Is that how it also works in Arizona? :-))

Thank you.

Yours,
Max.

[sablebaby]

That's exactly how it works. You pay nothing. They get paid from the other side. Pick someone who you feel comfortable with.

Also, we're not allowed to recommend RE agents here, nor are any allowed to contact you through DM. If they do, you can and should report them. We don't want people to be inundated by agents trying to sell them a house.

[Beena]

Ditto on what Sable said. That is why she is the big cheese

I recommend agent nobody. When I sold my house a year ago on craigslist my buyer had no agent and I reduced the price accordingly by 3%. They pocketed that and everyone was happy.

[nitram]

In all reality, the buyer is actually the one paying for the commissions. Since he/she is writing the check for the agreed purchase price and puts that money into escrow, the commission money comes out of that check. The seller gets what's left over. It's just written up differently, to show it comming out of the sellers funds, which is the buyers money. You don't see a seller writing a check for the commission. It's all part of the final deal.

[PhxBarb]

Be careful what you sign when hiring an agent to show you homes. If you are giving them the right exclusively to look for you, you may owe them a commission. Its better not to sign any such agreement. Then any of them can show you homes.

[grippit]

Max - Normally the seller pays commission. Zips are often newer agents, but not always the case.

[nitram]

Originally Posted by grippit

Max - Normally the seller pays commission. Zips are often newer agents, but not always the case.

Normally the funds come out of the 'seller's proceeds' that the 'buyer' put into escrow. The seller get's the tax deduction, the poor buyer gets nothing. I've never seen a seller put commission funds into the escrow account.

[karenn]

sorry to hijack this thread - but does anyone have any tips for finding a real estate agent who will actually search for specific properties for you, instead of just passing you on to the MLS to search yourself... im so tired of this!
what happened to the good old days when they used to go and view properties before you did just to make sure it was to your specifications!

[grippit]

I know one that previewed a property as recently as yesterday, and searches for specific properties 4-6 days per week.

[grippit]

Nitram - The HUD-1 statement shows it that way for it's own balancing purposes. But if the house sells for 300k the buyer doesn't pay 318k and the seller doesn't get the full 300k.