Home Buying in Raleigh>Question Details

Kajal Deepak, Home Buyer in Seattle, WA

Are there realtors willing to contract on a per property basis?

Asked by Kajal Deepak, Seattle, WA Fri Nov 30, 2012

My husband and I are interested in buying a house in Raleigh: as an investment property for now. We will be doing a lot of our own homework and shopping around, and are not interested in having a buyer's agent involved in every situation. However, there are houses we are interested in that may be properties that require a buyer's agent (short sales, pre-foreclosures, etc). For such properties, we are interested in finding an agent who can be flexible (don't treat us as novice buyers) and help us with our investment goals.
If we end up viewing properties based on your suggestion, we'd be happy to have those be covered under a buyer's contract. Basically, happy to have a buyer's agent fee where we see real work and real need for a buyer's agent, otherwise we'd prefer to do our own thing.
Are there any buyer's agents who work in this way?

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You will have no problem finding a good buyer's agent.
Deal honestly with the agent.
Be sure any agent you talk to knows you respect their time.

Bear in mind that any agent who has an exclusive buyer client with the same needs as you will probably run good properties past that exclusive client before showing them to you.




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1 vote Thank Flag Link Sat Dec 1, 2012
Just out of curiosity - When "you do your own thing" - do you understand that most likely there will be a listing/seller's agent doing their "own thing", too?

If you are unrepresented, their "own thing" won't involve representing you or your interests, but it WILL involve them collecting the full commission that was already agreed to with the seller in their listing agreement.

In my opinion, you're making this much more complicated then it has to be by looking for somone to work with you...or not.........depending on what you deem to be a need......or not.

I am sure you can find someone to work with - I guess I am just not seeing why you would want this set up - especially if you're moving from another state.

Best wishes...........
1 vote Thank Flag Link Sat Dec 1, 2012
I would be happy to discuss your needs and figure out appropriate services and fees to accomplish your goals. I offer hourly fees in addition to commission based fees. All buyers are different, so I structure my services and fees to match buyers needs rather than a one size fits all approach. I have a lot of experience working with investors as an agent as well as personal experience buying, selling, renting and renovating investment properties.

John Goddin
919-968-2100
John@GoddinRealEstate.com
1 vote Thank Flag Link Sat Dec 1, 2012
Absolutely! I do it all the time with my investor clients. All we do is put the property address in our agreement before the showing and we are good to go. I am always available if you want to talk.

Take care.

Call or text: 919-576-9299 or Email: TrabuccoK@hpw.com
1 vote Thank Flag Link Sat Dec 1, 2012
Yes, you can have an agent for specific properties. We at the Jim Allen Group do this alot since we have many builders and investors as clients and routinely deal with specific properties for these buyers.

You can give us a call at (919) 845-9909 if you choose. We are #1 in the Triangle in homes sold, so we obviously know of the properties that might not be easily accessible to you.

Thanks, Daniel.
1 vote Thank Flag Link Sat Dec 1, 2012
You can have buyer agency agreement for a specific address. Your agreement will provide agency in a specific transaction and leave you free to handle each property interest as you choose.
1 vote Thank Flag Link Sat Dec 1, 2012
I am a real estate agent and investor myself and I understand your question but why don't you find an agent and work with him only?
I think it will be more beneficial for you and him because he will be more interested in helping you because he will know that you will buy from him sooner or later.
I have been to many investors classes and most of the ethical investors will tell you:
-form your team and pay them well.
The agent will understand that sometimes you are going to need them and sometimes you will not but you can return the favor later to them when you find an un-qualifying property and then you can let the real estate agent to list the house and you will be a team!
Remember Real Estate Agents work on commission basis and if you can find a good real estate agent who understands your needs don't let him go!
0 votes Thank Flag Link Sun Dec 2, 2012
There is one thing that I am not sure you understand. The seller is paying the commission at an agreed upon percentage. Whether the listing agent or a buyer's agent brings the seller, it doesn't matter. If the buyer is unrepresented, then the listing agent gets both sides of the commission.

When I say agent, what I really mean is the agency. The commission goes to the agent's agency and then a percentage stays with the agency, the rest goes to the agent.

Given this scenario, where are you saving? You may be saving with a FSBO who is already not paying the listing side, though most FSBOs are overpriced.

What is your price point for investment? $25k, $50k, $100k, $150k, $200k...?

These days almost everyone finds their home on the internet. Realtors expect you to do your homework based on your needs and expectations. You are coming from Seattle. How well do you know the areas here and desirable rental areas/prices? Do you know good home inspectors, repair contractors, etc?

I have a team for investors: a contractor, a property manager, and obviously I am the Realtor. I've already had terrible experience with both property managers and contractors so it has taken me time and trials to find who I want to trust with my money and reputation.

I'm curious--do you negotiate with other professionals to reduce their rate, to say that they aren't valuable? I no longer do that because people who provide good service deserve to earn an income.

Good luck with your housing search. I've heard that Seattle is a lovely place to live though rainy. The Triangle is a superb place to live and I'm sure you'll enjoy it here.
0 votes Thank Flag Link Sat Dec 1, 2012
If you are coming from another state and new to NC, it would be great to have an experienced agent that can dedicate time and effort to you and your search! Of course, there is a way to have an agent represent you on specific property and if you do not buy that one, the agent does not get paid. So, how eager someone may be to tell you about another property or area you should look for... or a new listing that may be coming up soon if you only hire one time for specific property?
And you know the saying: the good ones are busy! And taking time away from long term and loyal clients to work on one deal one time may not be in their best interest and business plan.
Also, in your scenario you would be then looking for the best negotiator, and what the better way to know one but in the process of looking at homes together, trying out several offers and negotiations with that agent.
And the best part, in NC, buyer's agent fee is almost always paid by the other side, and in my agreements buyer never pays.
0 votes Thank Flag Link Sat Dec 1, 2012
Dont.forget to show your buyers agent your financials.

I am.an investor.myself.and have.worked with.other investors.for.20.years.
0 votes Thank Flag Link Sat Dec 1, 2012
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