Looking for a Buyer's real estate agent (Denver: sales, insurance)

[smihaila]

Originally Posted by Quietude

A broker/agent and an inspector are two different things, and should be. Expecting an agent to do basic inspection as part of their effort is mildly unreasonable; expecting to do without a highly qualified inspector before any purchase (thus negating the need for an agent's skills) is lunacy.

You seem to overreact to my original post. Did you see me even mentioning "inspection" in my list of expected qualifications? I mentioned only quite basic things, like having an eye for quickly noticing a mfr date on a furnace and/or water heater. Or a keen eye for detail like observing obvious things (roof almost in need for replacement, cracks etc).

I had a pleasant experience with my first agent back in Waterloo, ON, Canada. And his lifetime experience was actually in the food processing industry and only in the later years he embarked into real estate. And rest assured, at that time, I had a home inspector (one of the most stringent/exigent one - from Amerispec - I actually walked away from the 1st house - it was found to have vermiculite in the attic and inside almost all walls).

The way you have reacted to my post is hinting that - in case you are a realtor (not implying you are) - I wouldn't prefer to contract your services, sorry.

[Quietude]

Originally Posted by smihaila

YThe way you have reacted to my post is hinting that - in case you are a realtor (not implying you are) - I wouldn't prefer to contract your services, sorry.

You couldn't afford me.

Not sure why you're so touchy - you really are asking for more than most agents do and implying that's a substitute for both your own due diligence and an inspection. And being a little high-hat about it all.

Good luck on your search. I did well but I suspect my agent (whom I connected with here on C-D) is carefully avoiding contacting you.

[2bindenver]

Sometimes the coop is $2500, how much is the broker rebating to the buyer? Is the lender onboard?

With 29 years of experience, I am not going to compete on price, I am going for service.

[smihaila]

Originally Posted by Quietude

You couldn't afford me.

Not sure why you're so touchy - you really are asking for more than most agents do and implying that's a substitute for both your own due diligence and an inspection. And being a little high-hat about it all.

Good luck on your search. I did well but I suspect my agent (whom I connected with here on C-D) is carefully avoiding contacting you.

I'm not touchy, I'm just prudent and being new to the CO real estate market, I take everything with a grain of salt. All of my relatives are overseas, no friends in close by etc. So the only person that can help me is myself.

Had an "average" house back in Canada, but I have upgraded it to be like an European one. Serious upgrades, which I wouldn't enumerate because it brings me frustration knowing that I cannot find something equivalent here. The only thing I couldn't change was the chipped recycled glued wood which all of these "stick frame" constructions have here (cheap only for the residential, not on commercial, hehe). I jokingly call the stuff here, in the whole North-America, "wooden barracks" sometimes :-)

Please educate me then. WHAT are "most agents" doing here, actually? What is customary? How are they earning the 3%?

[2bindenver]

Start by reading those contracts.

[smihaila]

Sure thing, thanks.
Already did - One of the agents that I was in pre-consultation session with, tried to push into the contract (of exclusive representation) a $450 fee to be paid by the buyer IN ADDITION to what the said agent would get from a finalized purchase.

How's that sound to you? So cheap agent that he tried to pass his fee to the association of realtors on me?!
How could I trust someone like that who was trying to ... take me and my family for a ride? :-)

Do you sense my lack of trust now better? And hence my attempt at trying to find the honest agents that are out there (I guess rare)?

[2bindenver]

A transaction fee is usuallly paid to the brokerage, not the broker and not to the Realtor Association.

[smihaila]

My bad - didn't know where was the fee supposed to go exactly, but it was hidden under an "administrative, contract writing and data retention fee". We ran fast when we noticed it. I also asked other 3 colleagues at work, who have recently purchased a home here, and none of them had to pay for such thing.

I personally find such practice onerous. So the statement that "The buyer does not pay a cent to either agent - both agents collect their fee from the seller / sale price" - is not actually 100% true? 3% for each agent, out of $450K - 500K, is not enough? (actually it's still from the buyer, who pays for the whole thing, eh). Why is people so greedy, it baffles me.

[2bindenver]

The 3% fee the the selling brokerage is a myth. There are plenty of $2500 flat fee offers of cooperation in the MLS.

[smihaila]

Interesting. I wasn't aware that flat-fee listings (even with standard or lighter advertising package through MLS) are becoming common here, like in Canada and other countries. Thanks for pointing this out.