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If one is looking at potential home locations that are not in close proximity, is it still a good idea to sign an exclusive agreement with a buyers broker? My thinking is that a broker that specializes in an area may know of upcoming listings that we might never even find out about otherwise.
The neighborhoods that seem best fit our needs are University Park near Cameron Village; Apex within a few blocks on either side of the Downtown Salem Street corridor, Holly Springs in the 12 Oaks Community, and West lake nearest the elementary and middle schools. As these are not particularly close together it seems logical that we would want someone immediately familiar with the individual neighborhoods instead of someone trying to cover them all.
My wife and I recently located to the area and have been traveling around on weekends in an effort to get to know where we might like to settle in and purchase a home. We are very early on in the process, having gotten here in March, and are thinking we'd like to have 4 seasons under our belt before really making a push to find the perfect home for us . We are fortunate in that we have time and can be patient and wait for a home in the exact neighborhood we ant to live in.
I'd like to avoid specifics about affordability and our wants / needs. So to avoid detail questions - I am vision impaired and we are looking for a place within immediate walking distance of shopping, schools, and parks (so I can take my 2 year old daughter out without needing a car ride), minimum of 3 beds 2 baths, and we can spend up to $500,00 (and can move earlier if the right place comes up).
So simply put what do folks here think about using a different broker for each neighborhood, and are there other ways to increase our chances in getting a shot at pocket or soon to be on the market listings?
You have good reason to want to do that. They work for you, so do what you want - if they give you a hard time, find another agent. Just make sure the contracts read to your liking.
there are very few agents who TRULY specialize in one neighborhood. I mean, they may want to/try, but very few will say "No" to any clients outside that neighborhood. 12 Oaks is the only one large enough to sustain a successful Realtor in that neighborhood alone. And most folks aren't ready to re-sell yet, having lived there under 4 years.
Further, I doubt if "pocket listings" are that rampant anywhere other than older areas of Raleigh. Are "Coming Soon"? Absolutely, but those are supposed to be on the MLS so any Realtor can find them. A good Realtor will maintain good professional contact with other successful agents at least so the most active agents in those 4 places you name know they have a client looking there.
I think you could do just fine with one agent for SW Wake, and one agent for ITB. But 4 would be unnecessary and counter-productive.
there are very few agents who TRULY specialize in one neighborhood. I mean, they may want to/try, but very few will say "No" to any clients outside that neighborhood. 12 Oaks is the only one large enough to sustain a successful Realtor in that neighborhood alone. And most folks aren't ready to re-sell yet, having lived there under 4 years.
Further, I doubt if "pocket listings" are that rampant anywhere other than older areas of Raleigh. Are "Coming Soon"? Absolutely, but those are supposed to be on the MLS so any Realtor can find them. A good Realtor will maintain good professional contact with other successful agents at least so the most active agents in those 4 places you name know they have a client looking there.
I think you could do just fine with one agent for SW Wake, and one agent for ITB. But 4 would be unnecessary and counter-productive.
Coming soon can be withheld from MLS. Those are allowed to be shown/sold.
OP you need to find one buyer agent and have them put you in the MLS. Find a good one, because there are a lot of dud's out there.
Bear in mind, a great many local agents will cover the entire area you are considering, and beyond.
West Lake, 12 Oaks, Apex, Cameron Village, BTDT across the board.
What Bo says makes some sense, but bear in mind that you can create a situation where an agent has to sell you a home fast to keep the other agent from closing first and getting the payday.
For some, that can generate some conflict of interest, whether to get paid or to honorably serve as a fiduciary.
Additionally:
You want to be a client, not a customer. We serve clients. We sell to customers. The difference is real.
Always sign a Buyer's Agency Agreement with any agent you propose to work with.
Never sign a Buyer's Agency Agreement that will not allow you to unilaterally terminate before location of a suitable property.
That way, you become a client.
Some people will tell you you can work with an agent with a verbal Buyers Agency Agreement.
Sort of. But, that verbal agreement has to include ALL of the terms of the written agreement, and is non-exclusive. (Why should we not just do the job as we know we are supposed to do it? Because we are adverse to asking for a signature? Because when that hot little loveshack comes up, we can slide a bit of paper in front of you and say, "Sign here, and here. Oh, and initial over there?" In a rush, so you may not review it thoroughly? )
"Non-Exclusive?" Sounds good? Well, you just put yourself behind Exclusive Clients who have engaged the agent in writing. Clients who are ready, willing, able and documented come first.
NC REC rules say that you will engage the agent in writing, and if you haven't done so, you either have no agent, or you are going to have to wait until the agent runs the Legendary Pocket Listing past his clients, and decides to try his customer base.
Right now, I have many searches that overlap in terms of location and property description. The same property alert may go out to 5 people. It happens a couple of times a week.
Who do I run it past first? The customer? Or a client? All other things being equal, it is going to be the client every time. Actually, that is the legal and ethical duty for an agent, to fulfill their fiduciary role.
If one is looking at potential home locations that are not in close proximity, is it still a good idea to sign an exclusive agreement with a buyers broker? My thinking is that a broker that specializes in an area may know of upcoming listings that we might never even find out about otherwise.
The neighborhoods that seem best fit our needs are University Park near Cameron Village; Apex within a few blocks on either side of the Downtown Salem Street corridor, Holly Springs in the 12 Oaks Community, and West lake nearest the elementary and middle schools. As these are not particularly close together it seems logical that we would want someone immediately familiar with the individual neighborhoods instead of someone trying to cover them all.
My wife and I recently located to the area and have been traveling around on weekends in an effort to get to know where we might like to settle in and purchase a home. We are very early on in the process, having gotten here in March, and are thinking we'd like to have 4 seasons under our belt before really making a push to find the perfect home for us . We are fortunate in that we have time and can be patient and wait for a home in the exact neighborhood we ant to live in.
I'd like to avoid specifics about affordability and our wants / needs. So to avoid detail questions - I am vision impaired and we are looking for a place within immediate walking distance of shopping, schools, and parks (so I can take my 2 year old daughter out without needing a car ride), minimum of 3 beds 2 baths, and we can spend up to $500,00 (and can move earlier if the right place comes up).
So simply put what do folks here think about using a different broker for each neighborhood, and are there other ways to increase our chances in getting a shot at pocket or soon to be on the market listings?
An agent for every neighborhood?!! Do you have any idea how many neighborhoods we have? Do you really want to have thousands of Agents to work with?!!
There are some days that I don't enjoy working with the Agents that I have to work with! I can't imagine 100s of them!!!
I still find it difficult to imagine finding a plethora of agents who will be all right with having you work with them for only one neighborhood. As a client, I think the inherent conflict of interest would make it difficult to feel that every agent was acting in my best interest (or even had the capacity to do so since they can't reasonably know which homes you have seen, which best suits you, which you feel best about, or what information may have been shared with only another agent). I can't help but feel that you are setting both yourself and your agents up for failure.
Coming soon can be withheld from MLS. Those are allowed to be shown/sold.
OP you need to find one buyer agent and have them put you in the MLS. Find a good one, because there are a lot of dud's out there.
Coming soon (No Showings) and Withheld are separate things. Withheld can be shown but not Coming Soon.
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