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For anyone that has sold and bought a house at the same time- did you use the same agent/agency to act as your sellers agent for the existing home, and the buyers agent for the new home? Or did you hire separate people?
What are the pros & cons of each strategy? Assume you are buying and selling within same area.
Communication. If you have a seller's agent & need to coordinate another sale with a buyer's agent, communication can be problematic. They wouldn't talk to each other, you would be talking to both of them.
If you have one agent working both sales, communication is not an issue.
Found one of the best local RE agents to sell my home ( sold and closed in about 45 days )
He was so great to work with as a selling agent ... I used him as a buyers agent in the upcoming months to find a new home for me to purchase. Worked out fantastic !
Then again this guy was the rare 1 in a 1000 RE agents. Guys like him with his knowledge and work ethic are pretty rare these days in the real estate world.
Used the same agent once, and it was flawless, including the simultaneous closings.
Used the same (different agent - the other had retired) once and the buy side went well. She was a good buyers agent. Sadly, my due diligence was lousy. She turned out to be a lousy seller's agent and we sat with two houses for six months primarily because I followed her advice regarding pricing and staging.
A "pro" could be that they might reduce the listing commission amount. As long as an agent is experienced working either side, I don't see too much of a problem.
A "pro" could be that they might reduce the listing commission amount. As long as an agent is experienced working either side, I don't see too much of a problem.
Yeah, that discount cost us a lot of money in the second transaction I described above. One of my dumbest financial decisions ever.
Yeah, that discount cost us a lot of money in the second transaction I described above. One of my dumbest financial decisions ever.
But the cost had nothing to do with her being a lousy agent (except that you may have been enticed by the discount). A good agent with experience on both sides should be able to represent either a Buyer or Seller.
Communication. If you have a seller's agent & need to coordinate another sale with a buyer's agent, communication can be problematic. They wouldn't talk to each other, you would be talking to both of them.
If you have one agent working both sales, communication is not an issue.
I cannot imagine why you'd want to deal with 2 separate agents. Agents do coordinated selling/buying transactions all the time. No reason to bring in another person to further complicate things.
But the cost had nothing to do with her being a lousy agent (except that you may have been enticed by the discount). A good agent with experience on both sides should be able to represent either a Buyer or Seller.
Exactly correct. As I said, I failed to do my proper due diligence. Totally my bad decision to use her as both buyer and seller agent. I should have looked harder for one who was good at both sides. And they DO exist!
Sorry to my Realtor CD peeps if I was unclear about that.
Quote:
Originally Posted by MikePRU
Choosing the wrong agent to represent you can be very costly no matter how low the commission rate is.
Yep, it was. One of the reasons I nearly always recommend against a FSBO. Usually the same result - lost money and lost time.
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One of my dumbest financial decisions ever.
I cannot imagine why you'd want to deal with 2 separate agents. Agents do coordinated selling/buying transactions all the time. No reason to bring in another person to further complicate things.
