Who is going to negotiate on your behalf? I am going to go into more detail. But its more than what you think. When we real estate agents stop letting the public devalue our services,then we won't have no more freaking discount real estate brokers and home buyers who think that they can buy a house for almost free. http://www.buyandsellnewhomes.com
Coppell like many cities has lots of variables. Does your realtor know which homes and neighborhoods are in the preferred school districts? Do they know where the boundary lines are? Do they know which neighborhoods tend to have foundation problems and which don't? Do they know which title companies close on time and which don"t? Do they know where the potential trouble spots are? There are literally probably 100s of other issues that can and often do come up in a transaction. These guys tend to work for companies that are no deep on resources, so do they have board certified real estate attorney's they can call for free when a problem comes up? Do they have not just other agents in their office, but a number of brokers they can go to when issues come up? Will they show you foreclosures where the commission may not be 3%?
Sometimes it all works out fine....smooth..not problem and you make out like a champ and save some money. However ask the great agents today how many transaction they've earned their money on this year and you can hear the stories. These days not every transaction is smooth and easy. If you get in the weeds you are stuck or you are on your own trying to figure it out. It may very well cost you more to save. I can tell you as a realtor...legally I can write my own contract in Austin, San Antonio, or El Paso. Would I.....likely not. I don't know the first things about those cities. I want a great realtor there to be my advocate...my eyes...my ears....to look out for my best interests.
Here's a couple of test questions you can ask your Coppell realtor:
1. What is the Northlake project and what effect will that have on housing in Coppell?
2. What are 3 new building projects going on in Coppell who are the builders and what are the price ranges?
3.What are 3 neighbohorhoods in the city of Coppell, but are not in Coppell ISD?
If they can't have a nice discussion with you about these basic questions, they're probably new to the business, part time, and could very well cost you a lot more money than you will every save.
Those that think:
1- You should ALWAYS have a full commission agent regardless because something ALWAYS goes wrong and only a Realtor can fix it.
2- Agents just do paperwork and collect thousands of bucks in commission.
3- It's a case by case basis.... not ALL transactions require a full commission agent but most do.
I know there are horror stories on all 3 sides, but if you are honest you MUST say not ALL Real Estate transactions require a full commission agent.
on a side note... it really seems some agents really are angry about the fact discount agents exist.
If all you think you need is someone to write a contract, find a board certified real estate attorney to do it for you. This will be your cheapest route.
You also want to check with your lender about rebates. Some don't allow it or have specific ways they want it handled.
3% is a common commission, so I'm not sure why an agent would give you 100% of their commission back?
1- agents use the multiple listing service not realtor.com, zillow, trulia,etc to locate and find houses that match the criteria their clients give them. The MLS is the source/database of all homes and from here feed into the other sites (which may or may not be updated accurate or even on the market)- Especially in this short inventory its to your advantage to know the day the house goes on the market not 4 days later when it feeds into websites and then by time you see it online, make an apt to see it you now have 3 other offers to contend with or its under contract....
2-Contract to closing - this is where most of the deals are lost. You want to make sure you have an agent that has strong negotiation skills-(contract pricing, working with other agent and seller, inspection/repairs and even appraisals esp when they have to defend a value)- The best price on a house over 30 years financed means more money on your investment than a couple thousand at closing. BUyers representation being complimentary and getting great, strong representation can't go wrong.
3- food for thought- who are you likely to give your time and attention to- someone you get paid full price from or 1/3 from- logically speaking you will get put at the bottom of a case load and that could hurt you in the end to. Timely responses and attention is your best bet at getting the house you want at the price you want.
In the end its your transaction and up to you who you want to choose but buying a house is the largest investment in someone's life - I personally want the best realtor I can find.
Saw a quote and thought it fits "if you think hiring a professional is expensive wait until you hire an amateur to do the job"
William Davis Realty
As far as Mack saying you probably "won't be able to convince me otherwise" is simply not true, just waiting for something that I hadn't considered.
BTW- Thanks to each of you for taking the time out of your busy schedule to provide some advice. It's appreciated.
Agree with Jason. You can expect to get what you pay for. Plus the seller pays for the commission not you. You should get 100% of the service especially a new home is the most expensive investment most people make in their life. The question to you is, is it worth the 2 percent if anything happen during the transaction?
I have found in this business like most things in life you get what you pay for.For most people buying a home is the largest purchase they will ever make.A good Realtor can save you thousands and steer you away from the many pitfalls that can happen along the way.Let me just ask one question, If they are willing to give away their own money before the transaction ever starts how hard do you think they will work to make sure you keep yours?