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Old 08-11-2015, 05:35 PM
 
89 posts, read 112,576 times
Reputation: 116

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An agent trying to salvage a deal by convincing you to eat a $1000 repair or something similar can be seen as making the deal easier. or else your back at square one and you have now lost the inspection cost anyways. My realtor is a good friend of mine and He has never pressured me to do anything to make a sale. In fact he has actually cost me a deal by recommending me to offer less than what I was going to offer thinking he could help me get a good deal. I took his advise and they we lost the house to someone who offered 5k more than I did.

Regardless, If you feel you have the time and energy to do it yourself you should do it but I would make sure you are actually getting something out of it.
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Old 08-11-2015, 06:45 PM
 
Location: Columbia SC
14,225 posts, read 14,642,943 times
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The problem with anyone that does not get paid until the deal happens is they do not get paid until the deal happens thus they will push to make the deal happen no matter who they represent.
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Old 08-12-2015, 08:07 AM
 
3,484 posts, read 3,183,374 times
Reputation: 6503
My biggest problem in home purchases has been the sellers' responses to my (reasonable) offers.

Thinking back, I have almost consistently been interested in homes that had asking prices that were slightly overpriced, and the seller wouldn't come down. In one case, the buyer agent was not really all that helpful...except he simply (and correctly) said "I wouldn't offer more than...[a low ball figure (91% of AP)]. But I wanted that house, simply because it was the cheapest priced among the comps (it was something that needed updating, which in those days I did that job pretty much myself), and its particular situation in the neighborhood. I made a reasonable offer (95% of AP), and once again, the seller countered just under asking (99%). If they didn't agree to rent the place for 6 months before occupancy, I'd have walked. They were not going to come down on sale price. The place was listed longer than any of the comps, despite its lower price. It seems that 95% of AP is no longer considered a reasonable, serious purchase price - cash deal or not. Sure was years ago. Heck, 90% flew most of the time.

Actually, at this point in time, my only perceived use for a buyer agent would be that agent's ability to work with the seller agent, on realtor to realtor terms, to shake these sellers that won't back down from an overpriced asking price. But I don't think such buyer agent realtors exist. Based on my experience, I guess that isn't what they do.

I know enough to get a lawyer. So I don't see a need for a buyer agent - they seem useless to me.

Last edited by TwinbrookNine; 08-12-2015 at 08:37 AM..
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Old 08-12-2015, 08:36 AM
 
72 posts, read 115,559 times
Reputation: 103
I really do hate reactors. Buying and selling reactors. I think of them as nothing more than a waste of time. You know some countries you don't even need a freaking realtor sticking their hands out for some cash.
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Old 08-12-2015, 09:15 AM
 
8,005 posts, read 7,170,420 times
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Quote:
Originally Posted by TwinbrookNine View Post

Actually, at this point in time, my only perceived use for a buyer agent would be that agent's ability to work with the seller agent, on realtor to realtor terms, to shake these sellers that won't back down from an overpriced asking price. But I don't think such buyer agent realtors exist. Based on my experience, I guess that isn't what they do.

I know enough to get a lawyer. So I don't see a need for a buyer agent - they seem useless to me.
What does the lawyer charge for the CMA and negotiating with the seller's agent? Does he charge extra to visit the property, negotiate post-inspection credits/repairs, meet with a condo Board to discuss the lender-required insurance coverage that is not currently in place, meet with the City to discuss the proposed zoning change, talk to your lender to discuss alternative financing because the original plan just isn't going to work with this property, etc.? You may not need or see the need for a buyer's agent but as much as they appear to suck to the unwashed masses, sometimes they can make a deal happen that a lawyer can't or wouldn't bother to.

Source: have done just that and more, many times.
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Old 08-12-2015, 09:57 AM
 
72 posts, read 115,559 times
Reputation: 103
Lol you make it sound like hard work, it truly isn't brain surgery. You are just trying to earn your pay by over exaggerating.
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Old 08-12-2015, 10:11 AM
 
89 posts, read 112,576 times
Reputation: 116
Quote:
Originally Posted by 1insider View Post
What does the lawyer charge for the CMA and negotiating with the seller's agent? Does he charge extra to visit the property, negotiate post-inspection credits/repairs, meet with a condo Board to discuss the lender-required insurance coverage that is not currently in place, meet with the City to discuss the proposed zoning change, talk to your lender to discuss alternative financing because the original plan just isn't going to work with this property, etc.? You may not need or see the need for a buyer's agent but as much as they appear to suck to the unwashed masses, sometimes they can make a deal happen that a lawyer can't or wouldn't bother to.

Source: have done just that and more, many times.


you mean made some phone calls?
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Old 08-12-2015, 10:53 AM
 
3,484 posts, read 3,183,374 times
Reputation: 6503
Quote:
Originally Posted by 1insider View Post
What does the lawyer charge for the CMA and negotiating with the seller's agent? Does he charge extra to visit the property, negotiate post-inspection credits/repairs, meet with a condo Board to discuss the lender-required insurance coverage that is not currently in place, meet with the City to discuss the proposed zoning change, talk to your lender to discuss alternative financing because the original plan just isn't going to work with this property, etc.? You may not need or see the need for a buyer's agent but as much as they appear to suck to the unwashed masses, sometimes they can make a deal happen that a lawyer can't or wouldn't bother to.

Source: have done just that and more, many times.
I haven't had a buyer agent do anything to influence in any way, the final selling price.

The lawyer looks over the paperwork and addresses any concerns I have; calls my attention to anything I may have overlooked.

I don't borrow. N/A
I don't do condos or HOA's N/A
I go personally to the city/county to inquire about any zoning things or proposed stuff. btw - always do that; especially in rural or semi-rural areas!
I handle the inspection business myself. My inspections are severe, but intended to uncover any hidden costly problems. I require an inspector to crawl into any hole they can fit and I am there to confirm that they do, and once they've broke through the spider webs, I often follow with my own bright light. More than once I've discovered sellers hiding costly defects!
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Old 08-12-2015, 11:17 AM
 
72 posts, read 115,559 times
Reputation: 103
The only thing a buyer agent is good at: causing buyer to accept selling price or higher than they are willing to buy it for. Reason the buyer agent gets a better commission for doing it
it. Now if the buyer was to tell the agent they would make up the difference than maybe the agent would work for the buyer.
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Old 08-13-2015, 07:22 AM
 
Location: NJ
2,111 posts, read 7,941,388 times
Reputation: 1024
I am going through this now. I regret calling the number on the for sale sign! I'm looking for a condo in an adult community. We took a ride through one and saw some condos for sale so DW called the number, it being the listing agent. As a buyer, I prefer not to work with a listing agent, but she also was on vacation in FL. She did say she'd send someone else over from her office, and since we didn't know the area to find a realtor, we asked to see some condos that I found online. Well the listing agent's sub showed us a few empty condos, and we liked 2, so went back for a second look, using the same realtor that showed us. We liked one and put an offer in, somewhat low, but not that bad. The original listing agent was back but we continued with her co worker. There is furniture involved, but the sellers agent told my agent not to include it i the contract. The offer was presented to the seller, who is on vacation out west. This is an estate sale, BTW and a cash sale. I got a call this morning and my agent said the offer was low and the seller will not counter. Because of this. I thought this was bad not countering to try to get me to come up. Also my agent said she would work as my buying agent, but she works "closely" with the listing agent, same office. I did sign a dual agent something, but I don't think I signed an exclusive buyer broker agreement, which I just learned about today. Should i have a copy of this agreement? My agent suggested I put in a new offer, but I refused since I found it odd no counter offer. The seller said the offer was to low for the house being on the market for 10 days. For it being an estate sale, a cash purchase, and short closing. Any suggestions, especially on this agreement as I don't care working out of the listing agents office? I did check and we do not recall that form nor do I have a copy of this NJ agent agreement.
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