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Old 11-19-2011, 10:03 AM
 
255 posts, read 355,093 times
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Great advice. Thanks all

 
Old 11-19-2011, 01:41 PM
 
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In many ways, the Real Estate Agent industry is a Syndicate. Realtors(R) don't like change, and invest a great deal of money so things don't change.

The MLS does provide good information to properties available, and market values.
 
Old 11-19-2011, 01:59 PM
 
Location: San Antonio
437 posts, read 774,824 times
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Quote:
Originally Posted by jbiggs View Post
I would expect an attorney performing real estate transactions will have a much better contract than what the agents/brokers are required to use as dictated by trec? That would be much more advantageous to you instead of the lopsided ones forced on the agents/brokers.
If I hired a lawyer to write a real estate contract, I'd probably have to hire a second one to look it over...and I'd end up with all sorts of corrections. I've actually seen that situation firsthand. If I hired 10 different lawyers, I'd have 10 different contracts.

TREC contract forms haven't been written by one attorney but by teams of attorneys and fine-tuned over years of usage to address a variety of changes that have come up in real estate and the mortgage business. Would I expect a single attorney to have a much better contract? Hmmm... TREC forms have been checked over and over, are used by thousands of Texas agents, and have stood the test of time - time measured in years.


I'm rather curious about your reasons for thinking TREC contracts are lopsided.
 
Old 11-21-2011, 09:53 AM
 
Location: San Antonio
4,149 posts, read 9,292,332 times
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Quote:
Originally Posted by Proffer View Post
Thanks for your perspective, Kevin. Yes, you and your sellers will reject the contract, and that's perfectly fine. FYI, you can't work a contract for an agentless buyer that favors your seller heavily if the buyer, ahem, says NO as well Were you calling offers "garbage" when prices were doubling over the last decade? Why consider a return to historical norms ridiculous? Anyway, interesting point about agents signing for an automatic 6% with their sellers. Maybe that's a Texas thing, if it's universal here. Part of my motivation is also to be open to buying an FSBO without a buyer's agent around my neck. Or maybe I could just tell my agent that I might buy an FSBO without him...
Nobody said you can't do it. You're more than welcome to try. I was just telling you that it probably wouldn't work out like it's playing out in your head. Your situation isn't unique or original. Lots of people think "hey, if I can just get rid of the Realtor, I can get a smoking deal".

But the Reality is that listing agreement is between the Realtor and the seller. Not you. In fact, it says in the TREC contract that real estate commissions are NOT a part of the contract, and are negotiated outside the deal.

What buyers fail to realize is that when they're asking for a discount for doing a deal without a Realtor, there's NO incentive for a seller to do that. If there's a discount given, it should be given to the seller. After all, it's their pocket it's coming out of. If there's a discount to be given, why is it assumed that it needs to be given to the buyer?

When buying a house, figure your budget and what you're comfortable paying. Period. Then look and make sure that you're not overpaying for the house by running comparables. THAT needs to be your focus when negotiating. Not worrying about who gets what cut of the pie.

It doesn't matter if my seller has agreed to be generous and pay me 20% for selling the house. That's their prerogative. Our deal is NOT a part of the TREC contract.

To the poster that recommended just going around the agent to the seller, the listing agreement with the seller says specifically that they will NOT do anything without it going through the Realtor. It's not in their best interest to try and negotiate it, and if you DO try to cut the Realtor out, as said before, it's going to court. And it should. When I take a listing, I invest THOUSANDS of dollars in getting those houses sold, and spending the money works many times. To get an agent to spend their time and money on something and then try to cut them out, well, on top of being stupid, it's unethical and wrong and it's basically stealing.

And as Sylvie said, get an attorney. That's fine. But every attorney will write the contract differently. The TREC contracts ARE written by attorneys. The Texas Real Estate Commission does NOT represent Realtors. That's the Board of Realtors' job. TREC regulates real estate transactions, so it's not like the contracts are written to favor one side. Everything is negotiable.

You're more than welcome to buy a house the way you want. It's no skin off my nose, and I really don't care, but to think you've got some new, brilliant idea to "save money" won't work.

As with any profession, if you find a "competent" Realtor, they'll make your life MUCH easier. If you want to go it alone, that's fine, and best wishes to you. But just realize how the process works, and the advice you're getting to try and go around the Realtor is possibly the dumbest advice you could have ever gotten, because then you're getting into issues you want NOTHING to do with.

Just realize that most sellers trust their listing agents, and hired them because they do. I can guarantee you that any of my sellers, or most agents', would call me asking why a crazy buyer is contacting them directly and you'd leave a very bad taste in their mouths from the start. 99 times out of 100, if a buyer is a pain when they first submit an offer, the deal is a HORRIBLE transaction.
 
Old 11-21-2011, 12:11 PM
 
1,175 posts, read 1,169,785 times
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How does one find a buyers agent when he is new to town?
We moved here earlier this year and are renting and will be looking to buy when we sell our old house in MD.
I'm just not really sure where to start as we haven't really been welcomed too much by our neighbors to ask them their opinions (I guess because we are renters, I've tried to make friends but they don't seem interested)



Mod Note: Reminder, specific real estate agent recommendations cannot be posted in these forums - send DM only.

Last edited by BstYet2Be; 11-21-2011 at 03:36 PM..
 
Old 11-21-2011, 12:37 PM
 
Location: San Antonio
4,149 posts, read 9,292,332 times
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Quote:
Originally Posted by prim8 View Post
How does one find a buyers agent when he is new to town?
We moved here earlier this year and are renting and will be looking to buy when we sell our old house in MD.
I'm just not really sure where to start as we haven't really been welcomed too much by our neighbors to ask them their opinions (I guess because we are renters, I've tried to make friends but they don't seem interested)
That sucks that your neighbors haven't been friendly. All the more reason to find a great neighborhood, I guess.

Sites like this are invaluable for getting referrals. There have been a lot handed out on this site, and I'm sure people will respond to you with referrals.

The biggest thing is to call a few and chat with them. Get a feeling for what their specialties are, and if they "get" you and understand what you're looking for. Go with your gut feeling, because most of the time, it's right.
 
Old 11-21-2011, 12:41 PM
 
Location: New Braunfels, TX
6,252 posts, read 8,958,775 times
Reputation: 6334
FWIW, let me offer a suggestion re. "buyers agents".....

To MY mind, it's simply a way to "tie down" a prospective buyer to ONE agent. No matter what you buy, that agent WILL be paid.....by the seller. If you go with a RE agent without a specific "buyers agent" agreement, you are free to decide that they're not doing the job for you and go find another to work with. That's generally going to keep that agent on their toes and working to find what you're looking for.

As a caveat, I am NOT a Realtor - nor do I play one on TV (I can't - I can count to 50 and know both my parents)<I am KIDDING there, folks - because I know Kevin is gonna tell my sister what I just said!> I DO know Realtors, my sister is one - and I just found out last week that not only does Kevin (of this board) know my sister, but that they know each other pretty well! Small world....

But - in a nutshell, I'm quite loathe to attempt to buy OR sell w/o a Realtor - it's one of those things you hear all these "experts" tell you what a waste of money it is...until something goes bad. They offer the listing resources AND the time-tested paperwork/forms to keep you out of hot water!

Last edited by BstYet2Be; 11-21-2011 at 03:33 PM.. Reason: Just a fyi, you can always send a recommendation by DM. ;)
 
Old 11-21-2011, 04:20 PM
 
Location: San Antonio
437 posts, read 774,824 times
Reputation: 282
Quote:
Originally Posted by prim8 View Post
How does one find a buyers agent when he is new to town?
We moved here earlier this year and are renting and will be looking to buy when we sell our old house in MD.
I'm just not really sure where to start as we haven't really been welcomed too much by our neighbors to ask them their opinions (I guess because we are renters, I've tried to make friends but they don't seem interested)
Agents who have confidence in their professional skills sometimes offer a way out of the Buyer Representation Agreement from the beginning or a "trial period." I've seen both out there. The important thing is to find the agent who's right for you; a lot of factors go into that - from personality to specialty with a good dose of intelligence and of course a high level of competence. For me it has to work both ways; clients may very well interview me, but I also interview them. Many past clients are now good friends of mine, which is nice.

Some agents are better than others, but that goes for any profession. As Kevin said, this forum is a good place to start and you probably already received some DM's with recommendations.

Wherever you decide to buy in San Antonio, I do hope you'll have friendlier neighbors.

Last edited by sshurgot; 11-21-2011 at 04:22 PM.. Reason: Added the quote
 
Old 11-21-2011, 04:26 PM
 
Location: San Antonio
4,149 posts, read 9,292,332 times
Reputation: 3308
Quote:
Originally Posted by sshurgot View Post
Agents who have confidence in their professional skills sometimes offer a way out of the Buyer Representation Agreement from the beginning or a "trial period." I've seen both out there. The important thing is to find the agent who's right for you; a lot of factors go into that - from personality to specialty with a good dose of intelligence and of course a high level of competence. For me it has to work both ways; clients may very well interview me, but I also interview them. Many past clients are now good friends of mine, which is nice.

Some agents are better than others, but that goes for any profession. As Kevin said, this forum is a good place to start and you probably already received some DM's with recommendations.

Wherever you decide to buy in San Antonio, I do hope you'll have friendlier neighbors.
Yep. I know that a lot of agents put in their agreement that the buyer may terminate at any time. I do.

Heck, I also put in there that EITHER party may terminate at any time, because I had to fire two clients this year for ethical reasons.
 
Old 11-22-2011, 12:05 AM
 
255 posts, read 355,093 times
Reputation: 263
Again, thanks for your advice. Kevin, I would not try to cheat a listing agent out of their commission. I was only thinking that going directly to the listing agent would help my offer be accepted in a situation in which a seller is having a difficult time selling his or her home, and the listing agent would not have to split the commission with a buyer's agent. I appreciate your advice. It does seem to be sound and I am rethinking the idea of going it alone.

Oh, don't get me started on "comps". I've seen so many homes, and in cases in which my agent has stated a verbal offer that is in line with the comps (the comps usually being lower than the asking price), the sellers have rejected it flat out--saying that the comps do not apply to their particular home, because it's so unique, etc. etc. I'm sick of hearing that. A related issue is that some of these homes are historical, and need almost EVERYTHING done to them, and the sellers have asking prices in line with similar homes that have already been fixed up. When I THINK and do the math concerning the tens of thousands of dollars it will take to get the homes in modern working order (new electrical, A/C and duct work, etc.) if I were to tack that amount on to the inflated listing price, the home would cost way more than the neighborhood can support, and a buyer at that price would not be able to sell in the next 20 years without losing money. All of this just to say that there's some logic involved in the "lowballing" that one sees going on.
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