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okay, so im about ready to make an offer on a home in a community type of place. so there are 4 homes for sale that are very similar and i would be very happy with any of them.
i contacted the realtor who has 2 of them listed. she showed them to me. i am separately contacting the other 2 to look at them.
so should i find a realtor to represent me in negotiations? i want them to compete for me.
okay, so im about ready to make an offer on a home in a community type of place. so there are 4 homes for sale that are very similar and i would be very happy with any of them.
i contacted the realtor who has 2 of them listed. she showed them to me. i am separately contacting the other 2 to look at them.
so should i find a realtor to represent me in negotiations? i want them to compete for me.
What do you mean when you say "compete" for you? They don't make a commission from you, as you know.
Just remember that while people will tell you a buyer's agent has your best interest at heart, the listing agent will get twice the commission if you use him/her. This would make it much more beneficial to him/her to make the deal work! Technically, though, his/her loyalty is to the seller. That doesn't mean much if you are smart and you know how to direct the negotiations.
What do you mean when you say "compete" for you? They don't make a commission from you, as you know.
Just remember that while people will tell you a buyer's agent has your best interest at heart, the listing agent will get twice the commission if you use him/her. This would make it much more beneficial to him/her to make the deal work! Technically, though, his/her loyalty is to the seller. That doesn't mean much if you are smart and you know how to direct the negotiations.
well, im a buyer with money that is definitely planning on purchasing one of those homes. so i want them to come to me with their best offer understanding that i am willing to take any of the 4 (and i plan to). so they would be competing for my business like a seller of any other item.
You have to be careful when you contact a listing agent to show one of their houses. It's possible they will still get commission since they originally opened the door for you depending on how you did it. Did you sign anything?
Yes, you want your own buyers agent - you should have one before going in any of the houses.
You have to be careful when you contact a listing agent to show one of their houses. It's possible they will still get commission since they originally opened the door for you depending on how you did it. Did you sign anything?
Yes, you want your own buyers agent - you should have one before going in any of the houses.
Is this a new community or used homes?
they are used homes. bulilt beteen 1990-2001. i havent signed anything but im not sure if my wife did. gotta check with her on that one.
so even though i have seen all the homes i want to see and have it narrowed down to a handful, do i still get an agent? maybe i negotiate their commission down to a tiny bit since they would be doing so little at this point?
well, im a buyer with money that is definitely planning on purchasing one of those homes. so i want them to come to me with their best offer understanding that i am willing to take any of the 4 (and i plan to). so they would be competing for my business like a seller of any other item.
Ok.
Even if you got this message across to the seller's agents, I'd be surprised if they said anything beyond, "Make an offer." You may know that you're serious about buying, but to the seller you are just another looker who may not even get a mortgage. Basically, without a written offer, no one will take you very seriously.
You can definitely ask the realtor to reduce his/her commission a bit. Especially if he/she is getting commission on both ends.
they are used homes. bulilt beteen 1990-2001. i havent signed anything but im not sure if my wife did. gotta check with her on that one.
so even though i have seen all the homes i want to see and have it narrowed down to a handful, do i still get an agent? maybe i negotiate their commission down to a tiny bit since they would be doing so little at this point?
The commission has nothing to do with you.
A seller lists their house. When they do, they set the commission, not the buyer.
With my old agent, it was say 6% that he gave 1/2 to the other (buyers) agent.
If one of the agents from his office sold it, the commission was lower, as I had already negotiated it.
Get your own agent.
Either a seller is going to take your offer or not. If not, move along to house number 2.
The commission has nothing to do with you.
A seller lists their house. When they do, they set the commission, not the buyer.
Roselvr, that's true. However, as a buyer, Cpt. can ask the agent to lower his commission to in turn, lower the price of the home. I'm talking about his own take home commission, not what the agency takes.
For instance, Cpt. uses the listing agent who now gets the full 6%. Let's just say the office is taking 50% of that. The agent is left with the other 50%. The agent can agree to forgo some of that commssion to help the sale along. It may not go over too well, but it's worth trying to negotiate.
Ok.
Even if you got this message across to the seller's agents, I'd be surprised if they said anything beyond, "Make an offer." You may know that you're serious about buying, but to the seller you are just another looker who may not even get a mortgage. Basically, without a written offer, no one will take you very seriously.
You can definitely ask the realtor to reduce his/her commission a bit. Especially if he/she is getting commission on both ends.
ultimately, im looking for the lowest price. if a deal with me is much more valuable than with someone else because they have an agent, would that change the seller's agent's role to kind of be working for me (as far as recommending them to take the offer i make).
so does it matter what realtor i use? any one in the area fine?
Last edited by CaptainNJ; 07-21-2009 at 08:42 AM..
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