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Old 10-17-2013, 01:56 PM
 
Location: Raleigh, NC
11,794 posts, read 27,459,245 times
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Quote:
Originally Posted by matsmom View Post
I agree you should probably use a buyers agent, just make sure you get someone who is experienced. I have had a few friends that were given a new agent, when they contacted a larger firm, who had no idea how to negotiate.
It is very different negotiating with an onsite agent than a listing agent. A good question to ask a buyer's agent is... how many NEW homes have you sold?

As we are turning (if not already turned) into a seller's market and we have very low inventory, it is getting harder and harder to negotiate with a builder.

Some of the new home neighborhoods just increased base pricing by $5,000 and $10,000 last month.

If you were an agent with a buyer in one of those neighborhoods, you could use that information to your advantage!!!

Vicki
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Old 10-17-2013, 02:01 PM
 
Location: Chapel Hill, NC
84 posts, read 119,883 times
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We purchased a new, mostly-completed home in a new development with the help a buyer's agent and, in retrospect, I would've gone without the agent. I did a lot of research on my own beforehand (on the development, builder, and buying in general) and felt she didn't add anything beneficial to the process. She wasn't a bad agent, it's just that everything was very straightforward. Having her was, in many ways, more of a hindrance than anything and it would've been far easier to just coordinate everything directly with the builder's agent rather than having a go-between. Perhaps it would've been different if we were starting from scratch, but I doubt it. However, if we had NOT had an agent, I don't think we would've been able to save anything additional off the price... it would've merely served to streamline the process for us and to not have another "middle man" to deal with. If you like to do research, are generally savvy, and are a control-freak type like I am it may be nice to go it alone but don't count on saving any additional money.
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Old 10-17-2013, 03:17 PM
 
Location: My House
33,094 posts, read 26,911,655 times
Reputation: 24450
Quote:
Originally Posted by VickiR View Post
This reminds me of the thread about getting a speeding ticket.

Many of you will go to court and be able to get that ticket reduced. Many will not. I was told by my insurance guy that the BEST thing to do is to hire an attorney because he KNOWS the court system and he KNOWS the judges and he UNDERSTANDS how the entire process works. Good advice.

I recently took a client to an onsite agent. It was an onsite agent that I've worked with before. Very nice agent. We were there to write up an offer on an inventory home. I had done my research and had an idea of what we could get the house for. So, we negotiated but couldn't quite get to the price we wanted. We left.

Onsite agent called me later that day. She wanted to let me know that a few weeks' before, they had been running a "special" but it had ended. She had spoken to her manager and had told her manager that "I" was great to work with and that I had sold a few of their homes in different neighborhoods. She had the manager's ok to offer my buyer the "special". It was $8,000 in free options!

Buyer accepted and we will be signing the paperwork!

Vicki
This is exactly why people need to hire an agent of their own.

Especially people who are relocating to a new area. Doesn't hurt the client to have an agent, may hurt the client NOT to have an agent.
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Old 10-17-2013, 03:20 PM
 
Location: My House
33,094 posts, read 26,911,655 times
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Quote:
Originally Posted by VeraVega View Post
We purchased a new, mostly-completed home in a new development with the help a buyer's agent and, in retrospect, I would've gone without the agent. I did a lot of research on my own beforehand (on the development, builder, and buying in general) and felt she didn't add anything beneficial to the process. She wasn't a bad agent, it's just that everything was very straightforward. Having her was, in many ways, more of a hindrance than anything and it would've been far easier to just coordinate everything directly with the builder's agent rather than having a go-between. Perhaps it would've been different if we were starting from scratch, but I doubt it. However, if we had NOT had an agent, I don't think we would've been able to save anything additional off the price... it would've merely served to streamline the process for us and to not have another "middle man" to deal with. If you like to do research, are generally savvy, and are a control-freak type like I am it may be nice to go it alone but don't count on saving any additional money.
I would only go without an agent to save the middleman aspect AND if I knew volumes about the area, builder, comps, etc. I could buy a house in Cary without an agent in any neighborhood that I've looked at, but I have to admit that I'd probably only do that on a spec home that was new and finished or mostly finished, similar to the situation you described.

Building from the ground up or buying a resale? No thanks for the hassle. I'd have an agent!
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Old 10-18-2013, 06:33 AM
 
1,484 posts, read 3,699,721 times
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Default Wow

This is always a hot topic.
One rule is that if it is your first home you are buying (new or resale) use an agent or learn ALOT about the process and forms that you will be signing. With some being new, resale, REO, foreclosure. relocating company involved, the forms can be different for every purchase.

If you know a lot about the process, forms and construction (all aspects) and have a good lawyer then going alone may be an option. It is not guaranteed to save you money.

With that out of the way, I think some of the good realtors on this boards underestimate the amount of "bad" realtors out there. These are just bad performing or even underhanded. I have seen both in this area. Lots of ways to be underhanded and not get caught. Give someone an few experiences with bad realtors and they are done with all realtors for good.

It is a sellers market so that plays into things.
I would be hesitant to sign a long buyers agent contract, maybe a few months but not a year long one.
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Old 10-18-2013, 08:34 AM
 
Location: Raleigh, NC
11,794 posts, read 27,459,245 times
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Quote:
Originally Posted by ducter View Post
This is always a hot topic.
One rule is that if it is your first home you are buying (new or resale) use an agent or learn ALOT about the process and forms that you will be signing. With some being new, resale, REO, foreclosure. relocating company involved, the forms can be different for every purchase.

If you know a lot about the process, forms and construction (all aspects) and have a good lawyer then going alone may be an option. It is not guaranteed to save you money.

With that out of the way, I think some of the good realtors on this boards underestimate the amount of "bad" realtors out there. These are just bad performing or even underhanded. I have seen both in this area. Lots of ways to be underhanded and not get caught. Give someone an few experiences with bad realtors and they are done with all realtors for good.

It is a sellers market so that plays into things.
I would be hesitant to sign a long buyers agent contract, maybe a few months but not a year long one.
Lately, I have dealt with some agents that don't know HOW to fill out their forms. I had to explain to one HOW to put the seller's disclosure on MLS. I've been trying for ONE WEEK to get the due diligence form back from another agent.

I've SEEN how other agents treat their clients. I've talked to onsite agents that tell you they don't want to email in case they "tell you something that isn't correct". Duh. That is exactly why "I" want it in writing!!!

Yes, there are useless people in all occupations and that is why people should be careful as to who they hire. When I needed a structural engineer (for my buyers), I asked agents in my office for a referral. When I needed to replace a few doors in my own home, I asked for referrals from folks on this forum AND agents in my office. Referrals from people you trust.

As for signing "Buyer's Agency", my personal opinion is that 3 months is sufficient! I don't want anyone tied to me for ONE YEAR!!!

Vicki
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Old 10-18-2013, 09:58 AM
 
Location: My House
33,094 posts, read 26,911,655 times
Reputation: 24450
Quote:
Originally Posted by ducter View Post
This is always a hot topic.
One rule is that if it is your first home you are buying (new or resale) use an agent or learn ALOT about the process and forms that you will be signing. With some being new, resale, REO, foreclosure. relocating company involved, the forms can be different for every purchase.

If you know a lot about the process, forms and construction (all aspects) and have a good lawyer then going alone may be an option. It is not guaranteed to save you money.

With that out of the way, I think some of the good realtors on this boards underestimate the amount of "bad" realtors out there. These are just bad performing or even underhanded. I have seen both in this area. Lots of ways to be underhanded and not get caught. Give someone an few experiences with bad realtors and they are done with all realtors for good.

It is a sellers market so that plays into things.
I would be hesitant to sign a long buyers agent contract, maybe a few months but not a year long one.
Our buyer's agent never even had us sign an agreement while we were looking. We looked off and on for 2 years. He was really wonderful, though. If he'd thought we wanted to buy immediately, I'm sure we would've signed one. As it stands, we didn't sign one until we made the offer on the house we have now.

I had plenty of time to assess his competency as an agent, too. If he'd been horrible, I would not have been stuck with him. I would question any realtor that wanted me to sign an agreement immediately if I told them I was just beginning to look around and was not in a hurry.
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Old 10-18-2013, 10:29 AM
 
Location: Raleigh, NC
11,794 posts, read 27,459,245 times
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Quote:
Originally Posted by meh_whatever View Post
Our buyer's agent never even had us sign an agreement while we were looking. We looked off and on for 2 years. He was really wonderful, though. If he'd thought we wanted to buy immediately, I'm sure we would've signed one. As it stands, we didn't sign one until we made the offer on the house we have now.

I had plenty of time to assess his competency as an agent, too. If he'd been horrible, I would not have been stuck with him. I would question any realtor that wanted me to sign an agreement immediately if I told them I was just beginning to look around and was not in a hurry.
Trust. It is a wonderful thing!

NC requires you to sign buyer's agency BEFORE a Realtor can write up your offer. So yes, sometimes it doesn't happen until then!

It is like dating...you want to hang out with that person BEFORE you sign ANYTHING except for the form that tells you WHO is working for WHOM!

And...it runs both ways. Sometimes "I" don't want to sign!!!

Vicki
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Old 10-18-2013, 11:33 AM
 
Location: My House
33,094 posts, read 26,911,655 times
Reputation: 24450
Quote:
Originally Posted by VickiR View Post
Trust. It is a wonderful thing!

NC requires you to sign buyer's agency BEFORE a Realtor can write up your offer. So yes, sometimes it doesn't happen until then!

It is like dating...you want to hang out with that person BEFORE you sign ANYTHING except for the form that tells you WHO is working for WHOM!

And...it runs both ways. Sometimes "I" don't want to sign!!!

Vicki
Yep. That's when we signed it, and not before. Though, after I knew him awhile, I would have.

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Old 10-18-2013, 02:35 PM
 
Location: Holly Springs, NC
126 posts, read 155,176 times
Reputation: 116
We too were not from the area and used a buyer's agent. I highly recommend it and you have nothing to lose. You will want someone on your side, looking out for your interests. We did our research too but when it comes down to the negotiating and haggling, I'd rather leave that to someone else. Our agent did a great job and was very helpful in our relocation. Good luck.
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