Home Buying in 94539>Question Details

Kaplan123, Home Buyer in Fremont, CA

Looking to find an agent who is experienced in mission school area and who has experience and ability to search on foreclosed/short sales.

Asked by Kaplan123, Fremont, CA Sun Jul 11, 2010

I have seen some agents offer some portion of their commission to the buyers. Apart from been efficient/effective/proactive I also prefer if the agent can share some part of their commission.

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If you were an agent with tons of experience in a desirable area of Fremont, and you were incredibly efficient/effective/proactive, as you say, and you were so sought after that you barely had time to handle all the referrals that your past customers sent your way, why on earth would you want to share part of your commission when there are plenty of clients knocking on your door who would gladly allow you to receive the full standard commission because they know you're worth it?

On the other hand, if your service model consisted of reduced services (example: you let your buyers search and select their own properties without you), catering to select savvy clients who have the time/energy/knowledge to do this, and you could handle twice as many clients at half the commission, that might work.

But if you want a full-service standout experienced agent who will bend over backwards for you to ALSO agree to a salary cut on a client that might not even make a purchase, GOOD LUCK!
3 votes Thank Flag Link Sun Jul 11, 2010
Sure I will do if I could share some part of your pay check?
Web Reference: http://www.kenvasan.com
1 vote Thank Flag Link Mon Jul 12, 2010
Thanks everyone for responding to my question. Much appreciated.
0 votes Thank Flag Link Mon Jul 12, 2010
Kaplan123:

All REALTORS® have the capability of searching for foreclosures and/or short sales in any specific area. We all use the same MLS tools to do the searches, and we can easily delineate between types of sales. As an example, as of this morning there are no foreclosed homes (REOs) in Mission San Jose and only 3 short sales (Mission San Jose school district only – not including Weibel, Warm Springs, etc.).

Additionally, Fremont has a large number of highly qualified agents who serve the Fremont Mission area – many of whom frequent Trulia – this would be a good place to start your search.

You will also be able to find agents who will give you an kickback on their commission (as an aside, it’s an illegal practice – DRE rules state that commissions can only go to licensed individuals). And as a general rule, the better the REALTOR® the less likely they are willing to give you a piece of the funds they earn.

As Charo has suggested, locate a number of agents who sell in the Mission area and interview them. And like any employee you would employ for a critical position in your company, don’t go with the one who is willing to be hired on the cheap. Truly good employees know their value and as smart employers know, earn the company far more than they cost. And in the case of a buyer’s agent, a truly great buyer’s agent won’t cost you a penny (the seller pays the commission) – but they could put some serious cash in your pocket by the price and terms they negotiate AND the many costly pitfalls they help you avoid during escrow.

Lastly, you are interested in the types of transactions that carry the largest risks and potential headaches, yet you are trying to find an agent who will adequately represent you AND give you back a piece of their hard-earned income. If I were you, I’d find the REALTOR® who has successfully negotiated the highest number of REOs and short sales in the area and go with them – they will have the experience you need. As an example, there is an agent in the area who has successfully negotiated over 35 transactions as a buyer’s agent in the past 12 months (and who has very happy buyers and dozens of written testimonials) – if I were you, that’s the type of person I’d be looking for to help me. As D-man has suggested, experience matters. Trust me, when dealing with REOs and short sales, you don’t want a cut-rate rookie heading up your team.

One last tidbit here – in a multiple offer situation, well known and established REALTORS® with rock solid reputations often get their client’s offers accepted over agents who are not well known or who are know for ‘dubious’ tactics. Listing agents want to work with other agents they know, can depend on and ultimately trust. When an REO hits in Mission San Jose, there is a tremendous amount of competition for it – make sure you have a real pro on your team.

Here is a post that may be helpful.

Why We Need Airport Security (And REALTORS®, for that matter …)
http://bit.ly/9ojYzm
.
0 votes Thank Flag Link Mon Jul 12, 2010
Hello Fremont Home buyer,

Welcome to residential market to buy a home. It’s a great time to buy where the mortgage interest rates are low and home prices are low too. An excellent time to buy
a property, as a prime residence or an investment property.

We don’t have a large inventory of foreclosed/short sale homes in Fremont Mission area.
If you are interested in getting a list of homes please call or email me.

My suggestion is meet with at least two or three broker/agents and interview them.
You decide who can best serve your interest rather than who can give you some
Commissions back.

Look for honest, trustworthy, knowledgeable, skilled and experienced agent. Good surgeons are busy and they don’t offer money back of their work.

Good luck on your search.

Charo Bhatt
510-381-2105
http://www.HomesByCharo.com
CharoBhatt@gmail.com
0 votes Thank Flag Link Mon Jul 12, 2010
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