Home Buying in 07093>Question Details

Jl5zc, Home Buyer in New York, NY

If I am making an all cash purchase for a condo, should I get a real estate broker?

Asked by Jl5zc, New York, NY Mon Aug 19, 2013

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11
you should. The best way to get all the information on properties, and prices is with an agent.

Call me i can help find the right home for you.





Jose Martinez
201-406-6983
0 votes Thank Flag Link Thu Aug 29, 2013
Yes you should. The best way to get all the information on properties, and prices is with an agent.

Call me i can help find the right home for you.





Jose Martinez
201-406-6983
0 votes Thank Flag Link Mon Aug 26, 2013
Absolutely. The best advice is to find a great Realtor with a strong track record of working with buyers.

Regards,
Chad Roberts
Broker/Salesperson
Realty One Group
0 votes Thank Flag Link Fri Aug 23, 2013
Yes you should. The best way to get all the information on properties, and prices is with an agent.

Call me i can help find the right home for you.





Jose Martinez
201-406-6983
0 votes Thank Flag Link Fri Aug 23, 2013
Interesting question. If I may, it seems as if you're saying . . .

If I was going to get a mortgage, I would absolutely (or not) get a real estate broker,

BUT, given that it's my own money, I'm considering getting a real estate broker.

Tell yout this, Jl5zc, if I ever move back to NYC, there are three brokers that I would try to get to help me.

All the best,
0 votes Thank Flag Link Tue Aug 20, 2013
Hello Jl5zc,

In New Jersey we have four types of agency relationships: buyer's agents, seller's agents, dual agents, and transaction brokers.

In most real estate transactions in NJ, the seller pays the buyer's agent's commission, so it costs you nothing to have an agent.

An agent working on your behalf will provide "reasonable care, undivided loyalty, confidentiality, and full disclosure."

A buyer's agent will negotiate the best deal possible for you and he or she will protect your interests throughout the entire transaction from the offer to the closing. Quite a bit of work is done after offer is accepted.

I'd be glad to have a more detailed conversation with you about agency relationships and the value a good agent can bring to your real estate transaction. Call me anytime.

Brian Diehl
Prudential New Jersey Properties
973-521-1061
0 votes Thank Flag Link Tue Aug 20, 2013
What if the situation is that I have a property in mind to buy already, and it is an affordable housing unit, in that situation do I still need an agent or would it be more important to have an real estate lawyer?
Flag Tue Aug 20, 2013
A Real Estate agent can effect a lot of the parameters of your purchase, from price to terms of sale. At times you may have to relay on their experience with complications in the sale process, in order to dodge some deal killers or worse.

Whether you are paying cash or not, has no importance in the determination whether to use a real estate agent. In fact that is determined by the seller, not you, the buyer. If the seller contracted a real estate agent to list their property, they will be paying them a commission, whether the other side is using a co-broke agency, or not. By default, if you do not come to the deal through your own selling agent, you will by default be represented by the listing (seller's) agent. In such a scenario the listing agency would serve as a dual agency, which is still allowed in NJ, but barred in most states. You may think you are not represented by an agent, but in fact you are and they are collecting both sides of the commission. There is no advantage for you to refuse the help of a real estate agent.

Sincerely,

Amos Elroy
CDPE (Certified Distressed Property Expert)
SFR (Short-Sale Specialist Certified)
CHBA (Certified Home Buyer Adviser from NAEA)
CSBA (Certified Home Seller Adviser from NAEA)
NAEA Member (National Association of Expert Advisers)

Residential Real Estate Expert Adviser

Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
FAX (888) 462-6573
Office 201-437-0411
http://www.HobNJRE.com
0 votes Thank Flag Link Tue Aug 20, 2013
Yes you should. The best way to get all the information on properties, and prices is with an agent.

Call me i can help find the right home for you.





Jose Martinez
201-406-6983
0 votes Thank Flag Link Tue Aug 20, 2013
Who pays for the buyer's broker fee in NY? BBs will have access to sales reports/stats/trends that could ultimately affect your purchase price. Better to have one then none at all.
0 votes Thank Flag Link Mon Aug 19, 2013
You should always use a Real Estate Broker. The broker is their to protect your interests in the transaction. I recommend you use a broker to help guide you through the process.

If I can be of any assistance, please don't hesitate to contact me.

Ron Sheedy
Coldwell Banker
(732) 239-7452
0 votes Thank Flag Link Mon Aug 19, 2013
yes,always protect YOUR interests, in 99.9% of the time an agent does the right thing, protect yourself and let a licensed agent to walk you thru the process of buying, if you need help, look me up to assist you.
0 votes Thank Flag Link Mon Aug 19, 2013
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