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