Home Buying in 10710>Question Details

Anne Sanders, Home Buyer in S Y Jackson, Albuque...

If you are buying a home should you get your own realtor or use the realtor that lists the home. What are the advantages and disadvantages.?

Asked by Anne Sanders, S Y Jackson, Albuquerque, NM Tue Mar 12, 2013

Help the community by answering this question:

Answers

6
BEST ANSWER
As a recent home buyer I'd have to say it depends on the agent. My broker was the listing agent of the first property I viewed. I met with a couple other agents but the first agent seems to be best for me. My hunt for a home took almost 9 months and we went through one deal falling apart at the last minute. In the end, the co-op I found happened to be listed by my broker.

Not once did she steer me to any listing of hers over other comps, I actually saw a listing the day she posted it online and called her up to schedule a viewing. As I have talked with the buyer several times since the closing, he has expressed nothing but happiness with the agent and both of us were satisfied with the final terms. I still keep in touch with my agent even months after the closing.

Real estate relies on the interactions of people. So regardless of legal obligations, if you find someone you trust, respect and believe will work hard for you then you can't go wrong.
0 votes Thank Flag Link Wed Mar 13, 2013
Thanks, maybe you can tell me your agent
Flag Thu Mar 14, 2013
Good morning Anne,

First steps:

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
1 vote Thank Flag Link Fri Apr 26, 2013
Hi, Very simply put, the listing agent represents the sellers best interest all of the time. Anything you say to that agent can and will be used against you in a negotiation. Many people think going through the listing agent gives them an advantage. There may be some agents that make it seem like they have both parties best interest in mind but it isn't possible to effectively represent two opposing parties.

Sincerely,

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
914.406.9023
1 vote Thank Flag Link Wed Mar 13, 2013
Get your own agent . . Absolutely


Your buyer's agent works for you, not the Owner, and is MANDATED to act in your best interests. A listing is mandated to act in the best interests of the seller. Any agent who disputes that statement should read his state's real estate laws.

Most buyer's agents do not charge a fee, as his commission is paid by the property owner, not the buyer.

bg 914 668-9514
0 votes Thank Flag Link Wed Mar 13, 2013
The listing agent works for the seller. Their duty is to the seller. They are not allowed to misrepresent any facts or mislead you. They do however owe loyalty only to the seller. Your own realtor is a buyers agent. Buyers agents owe you condifentiality, care, loyalty, obidience, accountability and disclosure.

As a consumer you must judge. I have been on both sides. An agent can serve in either capacity, but not both effectively.

Like AskReynet on Facebook

Rey Hollingsworth Falu
Licensed Associate Real Estate Broker
Houlihan Lawrence - Bronxville

Direct 917-855-0277
rey@askrey.net
Web Reference: http://www.askrey.net
0 votes Thank Flag Link Tue Mar 12, 2013
Advantages of using the listing agent is that they may work harder with their buyer to get the home so they canbe paid on both sides......full 6%

Disadvantage is usually they are a dual agent or just working for the seller. They are not working like a buyers agent who is fully in your corner. They are out to sell the house. They may forget to get you comps
0 votes Thank Flag Link Tue Mar 12, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer