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Old 01-20-2013, 08:55 PM
 
16 posts, read 41,781 times
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Thoughts on using a design/build firm to find a house for you if you plan on doing an addition/remodel on the house right away....seems like these firms have connections and get access to houses before they come on the market. Anyone have an opinion on the pluses and minuses? We are looking in Needham, which seems like you are competing with builders to grab a house moreso than with other buyers.....
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Old 01-20-2013, 09:36 PM
 
Location: Needham, MA
8,547 posts, read 14,067,727 times
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Quote:
Originally Posted by shellbell12 View Post
Thoughts on using a design/build firm to find a house for you if you plan on doing an addition/remodel on the house right away....seems like these firms have connections and get access to houses before they come on the market. Anyone have an opinion on the pluses and minuses?
I can't say I've ever heard of anyone doing this, but if it works then why not?

The only downside I can think of is that you wouldn't have any representation. Contracts, negotiations, inspections, etc. I imagine would not be handled by a design firm. You can hire a real estate attorney to help you with the transaction, but there are certain functions a real estate agent fulfills that an attorney does not. For example, an attorney typically is not going to pull comps and analyze the market value of the house before you make an offer. Just one function of many that an agent performs.

Quote:
Originally Posted by shellbell12 View Post
We are looking in Needham, which seems like you are competing with builders to grab a house moreso than with other buyers.....
If you're looking for something to fix up then, yes, you're going to face HEAVY competition from builders. Needham sees more construction (particularly tear downs) than any of the surrounding towns. It's nearly impossible to beat out a builder who will close in two weeks, pay cash, and have virtually no contingencies on their offer. The typical buyer's offer is no where near as "clean" as that.

Generally speaking, there's absolutely nothing on the market right now and there's heavy competition at all price points. Mutliple offer situations are common.

Are you currently working with a Needham based real estate agent? Local agents often get wind of properties coming to market before they hit MLS as well.
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Old 01-21-2013, 11:09 AM
 
16 posts, read 41,781 times
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We have been working with an exclusive buyer's agent that's not from Needham. He is from the North Shore, and I am afraid that we are being left out of the loop bc he isn't a Needham insider. Also I don't think he has a good handle on valuation for the area. In the fall we looked at a couple houses in Needham/Wellesley and he didn't do a good job of providing specific comps for the houses we were interested in. He would just say "at what price would you be upset you lost the house at"........v. Frustrating for first time homebuyers not from the area. He also only provided info if we specifically asked for it. He never came to us with a pitch for a house he really thought we should look at..he was more of a retriever while we want someone that's more of a bulldog.

I am struggling with using a buyers agent from a local realtor bc they are not exclusive buyers agents and could have a conflict of interest if they show me a house listed at their brokerage. But then again, the fact that they work for a firm that takes listings is a reason why they will get wind of a house coming on the market, which is what I want. ,MikePRU do you have thoughts on this?

However, I have yet to find an exclusive buyers agents that is based in the Needham, Wellesley, Natick area. If anyone has any suggestions please pass along!

Also, if we go with a local agent, which is the best in the area? I see Coldwell Banker signs a lot, also see Prudential....anyone have a particular buyers agent they would recommend?
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Old 01-21-2013, 07:55 PM
 
Location: Needham, MA
8,547 posts, read 14,067,727 times
Reputation: 7944
Quote:
Originally Posted by shellbell12 View Post
We have been working with an exclusive buyer's agent that's not from Needham. He is from the North Shore, and I am afraid that we are being left out of the loop bc he isn't a Needham insider. Also I don't think he has a good handle on valuation for the area. In the fall we looked at a couple houses in Needham/Wellesley and he didn't do a good job of providing specific comps for the houses we were interested in. He would just say "at what price would you be upset you lost the house at"........v. Frustrating for first time homebuyers not from the area. He also only provided info if we specifically asked for it. He never came to us with a pitch for a house he really thought we should look at..he was more of a retriever while we want someone that's more of a bulldog.
I could understand if you told me you were working with an agent from Wellesley or Newton or Weston or Natick or any town nearby where you're looking but the North Shore is a long way away from Needham & Wellesley. There's a saying you hear over & over in this business: real estate is local. I wouldn't consider the North Shore local to Needham or Wellesley.

Quote:
Originally Posted by shellbell12 View Post
I am struggling with using a buyers agent from a local realtor bc they are not exclusive buyers agents and could have a conflict of interest if they show me a house listed at their brokerage. But then again, the fact that they work for a firm that takes listings is a reason why they will get wind of a house coming on the market, which is what I want. ,MikePRU do you have thoughts on this?
Those are my thoughts exactly. In a competitive market like Needham/Wellesley, you need any advantage you can get. If you find an agent you feel you can trust, then there should be no problem buying a listing from their office. Things do get a little tense when you buy a property that's also listed with your buyer's agent, but this situation represents a very small percentage of transactions. I know in the past, in my office, we've gone to great lengths to make sure that our clients are comfortable with the situation should it arise.

Quote:
Originally Posted by shellbell12 View Post
However, I have yet to find an exclusive buyers agents that is based in the Needham, Wellesley, Natick area. If anyone has any suggestions please pass along!
I'm not aware of any exclusive buyer's agents based in this area. However, as you and I seem both believe, you're putting yourself at a competitive disadvantage by working with a brokerage that doesn't take in listings. Not good in such a competitive market.

Quote:
Originally Posted by shellbell12 View Post
Also, if we go with a local agent, which is the best in the area? I see Coldwell Banker signs a lot, also see Prudential....anyone have a particular buyers agent they would recommend?
It's against the site's rules for me to recommend myself.

Last edited by MikePRU; 01-21-2013 at 08:05 PM..
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