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Old 04-28-2010, 03:41 PM
 
14 posts, read 54,585 times
Reputation: 12

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My wife and I have been looking mainly online for houses. We are looking at one town only, so our options are limited automatically. Last weekend, we went to a few open houses and saw one we fell in love with.

My question is, we don't even have a broker yet. I take it that we would need one to put a bid in, plus help us with coming up with an appropriate price.

For the brokers out there, does this happen often? Do you run across clients that already know what house they want and just need help with the formalities?

Granted, the place could fail inspection, or have something wrong with it that we don't know. Then, we would use that broker to see other houses.


Just curious with your experiences.

Thanks again!
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Old 04-28-2010, 03:54 PM
 
Location: Colorado Springs, CO
1,570 posts, read 5,479,302 times
Reputation: 1398
Yes. I have had that happen. A good buyer's agent can help on the details - and there are many. My favorite buyer didn't have any property picked out but she knew what she was looking for. I really helped her with the inspection and even more with the offer. I wrote an offer that really protected her. She was honest, solid and dependable --- a pleasure to work with. If she'd call again, I'd do anything, anytime to help her in any way I can!!
Best wishes,
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Old 04-28-2010, 04:43 PM
 
Location: Just south of Denver since 1989
11,283 posts, read 30,446,650 times
Reputation: 7675
I have had that call too. If at all possible I try to see that property with the buyers before writing the offer. My experience can tell me how to structure the best deal possible. I feel blinded if I haven't seen.
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Old 04-28-2010, 04:51 PM
 
Location: NJ
17,579 posts, read 41,347,852 times
Reputation: 16188
Are there any concerns that the OP already saw the house and presumably talked to the listing agent? I remember a while ago going to an open house to kill time when we had an open house ourselves. When we were taling to the listing agent hosting the open house she made a comment along the lines that since she was the one that showed us the house she would be our realtor if we wanted that house. It didn't matter in the end because we weren't interested in the house.
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Old 04-28-2010, 05:47 PM
 
Location: Lake Mary, Florida
793 posts, read 2,288,502 times
Reputation: 265
Interview 2 or 3 agents to not only see how knowledgeable they are on the current Real Estate Market where you live but to also hear their enthusiasm and how you fit together.

I explain to buyers I'm working with that if they walk into an open house, call a number on a sign or visit a builder that at first contact let it be known they are working with a realtor and show my business card.

On the open house question it is called procuring cause, and that could be an issue but you will not know until your agent calls.

The best way around this is to sign a buyer’s agreement and put in the agreement a clause dealing with this property that if it is an issue they release you from your relationship and are due nothing.

If after your realtor suggest comparable properties and you preview them but you keep coming back to this one you are covered.

Hope this helps,
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Old 04-28-2010, 06:17 PM
 
14 posts, read 54,585 times
Reputation: 12
So you're saying because I talked to the seller's agent at an open house without a broker of my own I might be subject to using that broker?

Correct me if I'm wrong, but the seller's agent priority should be to get his/her client the best deal. That's why I need to go in with my own to negotiate properly.
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Old 04-28-2010, 06:53 PM
 
Location: Alaska
89 posts, read 180,838 times
Reputation: 43
From what I know glacier1975, even though they showed you the home, you have no contract with that agent. I would not want a dual agent in any respect. It seems to me they get the full commision but cannot do the advising part honestly. (Not that the agent isn't honest, but they have to hold both sides). No contract with them means you can find your own agent. To me that just sounded like the agent was being aggressive and maybe even a little greedy. It was an open house to view the property.
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Old 04-28-2010, 08:06 PM
 
Location: Columbia, SC
9,577 posts, read 18,881,436 times
Reputation: 7499
Quote:
Originally Posted by glacier1975 View Post
So you're saying because I talked to the seller's agent at an open house without a broker of my own I might be subject to using that broker?

Correct me if I'm wrong, but the seller's agent priority should be to get his/her client the best deal. That's why I need to go in with my own to negotiate properly.
Nonsense. They may want you to think that, but you have no obligations. If you hire a buyer agent, and they write the offer up, they led to the contract not the listing agent. Go get you a good buyer agent and don't look back.
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Old 04-28-2010, 08:42 PM
 
Location: Salem, OR
14,480 posts, read 34,599,708 times
Reputation: 13897
Quote:
Originally Posted by Brandon Hoffman View Post
Nonsense. They may want you to think that, but you have no obligations. If you hire a buyer agent, and they write the offer up, they led to the contract not the listing agent. Go get you a good buyer agent and don't look back.

Ditto. Total hogwash.

Consumers can use whomever they want. The fact that the agent said that at the open house is a signal to run away fast because they have no idea what they are talking about.
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Old 04-29-2010, 07:18 AM
 
Location: Columbus OH
56 posts, read 182,882 times
Reputation: 22
I've had buyers go off on their own to an open house. Listing agents have
always respected the fact that they are already working with an agent and happy
to have some interest in the home. One called me after such an event to encourage
me, and talk up the house. That is the professional thing to do.
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