Home Buying in Mahomet>Question Details

Josh, Home Buyer in Corona, CA

I am a first time buyer. Should I go with the agency that is selling the house or should I go for one that is interested more in the buyers needs?

Asked by Josh, Corona, CA Thu Feb 23, 2012

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9
Use the Realtor you trust the most, never use one that you do not trust. If you want to meet the listing agent without tying the meeting to a particular home, meet them in their office.
1 vote Thank Flag Link Thu Feb 23, 2012
You will want your own Realtor® representing you and your best interest. The listing agent represents the seller and the seller’s best interest.
Picking a Realtor®; you should interview several Realtors® before making a decision. Do not solely rely on a referral! Do the work yourself and interview several. Here’s a short check list of questions to ask & things to consider:
1) The paperwork involved in this process is extremely complicated, having stated this It is important that a Realtor be “practiced at our trade” pick a Realtor® which has completed 15+ transactions the previous year
2) Interview 3-5 full time Realtors® (very few part-time agents have the same skills as a person who works Real Estate on a full time basis)
3) Do a basic back ground check on your Realtor® use a site like PIPL or just goggle their name, this usually turns up items such as lawsuits, bankruptcies or other items which you feel might interfere or conflict with a Realtor® representing your best interest. Ps: this does not work for a John Smith
4) Once you have interviewed your potential Realtors® and if you are still unsure and want a “trail run” sign an exclusive buyers agency for 48 hours with the Realtor® and explain if all goes well in the beginning then you will be willing to commit for 1- 3 months.
5) Work with a Realtor® which is local to your area. Meaning a 10-20 mile radius, they will know the schools, shopping and the growth potential of the area without having to go look it up!

Before you even start this process consider purchasing the book by Dave Ramsey “The Total Money Makeover” this will provide valuable information in regard to having a successful financial life & make a prudent home purchase!

That’s your list! Good Luck!
1 vote Thank Flag Link Thu Feb 23, 2012
Hi Josh,
I am just following up to make sure you didn't have any additional questions? Did you end up contacting the listing agent? I am a local native and live in the area. I have access to any home on the market, so please let me know if I can be of any assistance regarding.
I am very low pressure and I want your first time home buying experiance to be a memorable, enjoyable journey.
I hope to hear from you.
Sincerely,
Eddie
217-373-4802
eddiemullins@remax.net
0 votes Thank Flag Link Sun Feb 26, 2012
I would recommend to go with an agent you feel comfortable with and a buyers agent will have only your best interests in mind. Good luck it can be an exciteing time
0 votes Thank Flag Link Thu Feb 23, 2012
Never, ever, ever use the seller's agent. It will be a mistake you'll regret. Find out why:

http://www.advocate4buyers.com

http://www.naeba.org

Good luck!
0 votes Thank Flag Link Thu Feb 23, 2012
Dear Josh,

The most common notion among home buyers is that they get a better deal if they go directly to the listing agent. The listing agent's fiduciary duty is owed to the sellers. Don't you want to get your own representation?

I would highly recommend that you contact two or three realtors and interview them. Check out how each one of them interact with you. Ask them questions regarding their credentials and experience. Also, ask for most three recent buyer-clients. Most importantly, make sure that you are comfortable working with that realtor. Trust takes longer to build but you should be able to gauge it after few interactions with agent.

Good Luck on your search. Here is a video I prepared for first-time home buyers. I hope you find it useful.
http://www.youtube.com/watch?v=hjGxrdgX5j4
0 votes Thank Flag Link Thu Feb 23, 2012
Josh,

You have been given excellent advice. Although dual agency is practiced, unless you have a personal relationship with the listing agent and are comfortable and confident that your interest will be well served, you may want to enlist the help of a buyer's agent who will look specifically to protect your best interest. John Burke mentioned the USDA mortgage, which would be an excellent choice, I would also suggest you ask about the IHDA Home Start Down payment Assistance Program. This is a first-time homebuyer program that can be used along with other loan programs, including Rural Development (USDA). It can provide up to $6000.00 as down payment assistance is and forgivable. Let me know if you would like more information. I am more than happy to put you in touch with a lender who can assist you with loan options.

Barb Johnson
217-390-5251
0 votes Thank Flag Link Thu Feb 23, 2012
Josh,
As others have stated, it is generally a better idea for a buyer to have a professional representing their best interests. The listing agent, the one representing the seller,is looking out for the sellers best interest. In some states, such an agent can assume a neutral position and serve as a transaction broker. However, this goes into the nuts and bolts of the business and does not serve a real purpose regarding your question.

What we do not know, that is very important is, "What are you buying?"
You may be purchasing a traditional resale, a bank owned property or a short sale. In one of these situations, it is actually beneficial to work with the listing organization and their process.

Buyers of traditional resales will be better served using separate agents for the buyer and seller.
Good real estate sells quickly, Make certain you get a full time agent working for you. Having your 'dream home' sold to someone else while your agent is doing floor time at Target is not the situation you want.

Best of success in buying your new home,
Annette Lawrence
Broker/Associate
ReMax Realtec Group
Palm Harbor, FL
Web Reference: http://www.MyDunedin.com
0 votes Thank Flag Link Thu Feb 23, 2012
Hi Josh,
You have received great feedback.
If you decide to contact the selling agent, be sure that dual agency is discussed up front, along with disclosures.
You, as a buyer, can utilize the services of an agent, at no cost to you and that agent's responsibility is to find you the best home, for the best price within your search criteria. They also should be looking out for your best interest and no one else's. You and your Realtor show have an open line of communication and trust as this is a very big step for anyone.
If you have never purchased a home before, I think it is very important for you sit down with an agent to go over the home buying process. That will help educate you on what to expect as the transaction begins and how things will progress until the home is actually yours (closes), including timelines and contingencies in place to protect you.
Feel free to give me a call if you would like to go over any additional details regarding your search as I would be delighted to help.
Sincerely,
Eddie
0 votes Thank Flag Link Thu Feb 23, 2012
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