Home Buying in 02453>Question Details

Jhasavi, Real Estate Pro in Waltham, MA

Does it help to have a buyer agent?

Asked by Jhasavi, Waltham, MA Tue Mar 4, 2014

I see buyer agent doing nothing much, but takes the paperwork for seller agents and make the case, why should I increase my offer price.
I would expect a buyer agent to understand my requirement, suggest locations and opportunity I haven't found and if I offer, and utilize professional membership to negotiate price with the seller agent to give me best price.

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A buyer agent works on behalf of the buyer, period. This agent is there to fight for your best interests, get you the best value/price, terms, timing and negotiate for excluded items. It is an adversarial relationship between buyer agent and listing/seller agent, who works for the seller's best interests. There is no obligation to have a seller agent help in any way. Many times, seller agents will prefer that you have representation on your side, due to the volatility of the transaction and the ability to have a more smooth track to closing. In Massachusetts, the seller has already agreed to pay the buyer agents companies commission out of the gross proceeds of the sale. As a buyer, you are not paying any extra to have a professional working in your corner. You will NOT 'get a better deal' if you go to the sell agent directly, that is a fallacy. You need to understand that each home has its own storyline and a good buyer agent can explain it to the buyer, especially now in a sellers market. If you happen to find a good agent who will be proactive with your search: suggest homes, towns and ways to get more favorable responses from the seller, offer to inquire about new listings and get you into homes before they are on the market to the public and can get inside scoop on the sellers mindset, then that is the ideal scenario.
1 vote Thank Flag Link Tue Mar 4, 2014
It sounds to me that you just did not find the right buyer agent to work with you. Keep looking and ask for recommendations. Google real estate agents and read reviews. A buyer agent can be invaluable. Where it costs you no more money to use one, why wouldn't you?
0 votes Thank Flag Link Wed Mar 5, 2014
When you want to buy a home the best place to start is to hire an EXCLUSIVE Buyer Agent, not just a Buyer's Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. I can refer you to an EBA in your area, if you like.

I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home and get a mortgage without getting ripped off. Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.HelpUBuyAmerica.com
0 votes Thank Flag Link Tue Mar 4, 2014
Alysse,
As a professional who was and EBA for the first 9 years of my career, I can tell you that some areas of the country have very few, if any left.
Flag Wed Mar 5, 2014
You should NOT get a buyers agent. You have already indicated you see no value.
Be incouraged, there are others just like you. Read the words of this Trulia user who thought 'sharing' an agent would be a good idea.

http://www.trulia.com/voices/Home_Selling/Since_the_sell_of_…

And this person accepts no responsibility for their action and seeks to BLAME the agent.

What will you do? Attempt to put Humpty Dumpty back together again or avoid the perils from the start. The choice is yours.

Let me ask you, if you are buying a home that is in a trust or held through an LLC, what do you need to know? What if its Nationstar foreclosure? What if the house is priced 24% below market value? What if the seller REQUIRES you to obtain a 'Clear-to-Close' through the lender they identify? (no charges to you) What's the end game?

I know, you don't see the buyer agent doing much. That is exactly what a good captain does....make the journey appear easy. I doubt you have a clue regarding the first step to take in the above scenarios, but will need to put Humpty Dumpty back together when you tumble from the wall.

The job of the professional you hire is to keep you from harming yourself. When they are successful it appears just as you have observed. 'That was EASY!"
0 votes Thank Flag Link Tue Mar 4, 2014
Hello,

You may want to consider working with a better buyer's agent. As with any industry, there are people who are lazy/unmotivated, and you definitely don't want people like that representing you. I would recommend talking to the agent first about the situation, then if nothing changes, I would seek the help of a different agent.
0 votes Thank Flag Link Tue Mar 4, 2014
If you do not get a buyers agent, the sellers agent will typically make double the commission and most likely you will get the short end in negotiation because the seller's agent will want to sell for the most money and does not have your interest in mind.
0 votes Thank Flag Link Tue Mar 4, 2014
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