Making an offer on an REO property, choosing the right buyer's agent? (accepted, agreement)
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I've been on the market for 6 mths when I started interviewing buyer agents I spoke to 3. I chose one of them. She was very responsive and had the most experience. However, after 3 months of back and forth I couldn't find anything I truly liked. She seem to have gotten frustated with me & my endless questions. Every time we went for viewings I felt she was rushing me out. I never felt I could see the houses completely because she would not let me take my time and say we have to do to our next appointment and sometimes was on the phone with other clients. The last time we spoke I told her nothing in the market was suitable. She told me to let her know when something of my liking popped up, however, she discontinued my MLS emails two weeks later. The other agents are still sending me MLS listings. I received one I really liked last week. I decided to contact the listing agent on my own saw the house and LOVED It. However, it's an REO. I'm not sure what to do. I want to make an offer, but don't want to go at it alone. Not sure which agent to work with. One of the other agents is very nice but he's not very experienced (3 yrs). Any sugestions? Pointers?
PS: I feel I really have to move on this one because there's alot of interest and I don't want to lose the opportunity..
I didn't have any agreements with any agents at all. The agent I chose to work with in January never asked for any sort of agreement she was helping me but never asked me to sign anything. She took me to view properties 3 times in a span of 3 months. (4 houses the first day (mid Jan), 1 the next (mid March) and 2 (early April) the last time. She discontinued the listings in late April, when my original pre-qual letter expired. The home I went to see last night (the one I really want) had an accepted offer in March when I wanted to see it. I found that one on my own back then since it wasn't on the MLS. I'm very active on my searches and found a ton of listings that no agent finds for me, but it didn't/doesn't bother me, I just gave her all the contacts. Then asked her to contact them since she was my agent. She told me she did and was told it had an accepted offer. Then it came on the market again last Thrusday, this time it's on the MLS and one of the other agents, who is still sending me listings sent it to me as part of his automatic emails to me.
Gf got your message...good for you! I wish you the best of luck getting it in there and getting it done!!
Thanks,
She's now working on contacting the listing agent. Quick question, since an associate agent for the listing agent showed me the house does that mean I can't use a different agent to buy the house? My old agent made it sound like I just sabotaged her by going to view the house on my own.
Not sure which agent to work with. One of the other agents is very nice but he's not very experienced (3 yrs). Any sugestions? Pointers?
Quote:
Originally Posted by gf1025
PS: I feel I really have to move on this one because there's alot of interest and I don't want to lose the opportunity..
Experience is relative; dont assume because one agent has been a realtor for 15 years that they are more experienced than one that has only worked for 3 years. To me experience isn't time on the job, rather its number of transactions. I go with the one who is actually selling real estate, not one who has just been sitting around doing nothing as they will have more experience; more than likely they will be more well versed with the process and potential pit-falls that can happen.
Thanks,
She's now working on contacting the listing agent. Quick question, since an associate agent for the listing agent showed me the house does that mean I can't use a different agent to buy the house? My old agent made it sound like I just sabotaged her by going to view the house on my own.
Hmmm. That's a question for a Realtor®/agent from NYC to answer. NYC is a different animal. Often times the listings are exclusives up there. But..then again, you said you found it on a mls listing that was automatically sent to you by yet another agent. You didn't sign anything with the listing agent that opened the door... and just opening the door does not make one procuring cause. So..I would say no, that's she incorrect and is doing a little creative worrying. But, like I said, it could be different in NYC.
As a homeowner in the UK, I am looking to invest in the US property market, in and around Florida. Having researched a numbr of properties, what would be a reasonable percentage, under the asking price to offer on a property for approx $100,000?
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Making an offer on US property
