You're on the right path, by planning and asking. We work as a team with our buyers. I provide many years of experience and time. The buyer is loyal to us, by not working with otherl agents.
To answer you're question, most of us do not get paid by the buyer. Instead, the seller pays us when the transaction is over. We work for you. We work on finding you the right home. If the right home is not available, that's ok. We can continue the search for weeks or even months.
I have buyers that, together, we're able to find the right home in days. Others in weeks, and a few that find the perfect home in 1 year.
If you wish to stop looking for homes, no payment is expected. You could give your agent a thank you gift, such as a restaurant voucher, or the like. It is not necessary, but it's a nice thing to do for all the time spent working for you.
Of course, if you and the agent did not get along, or the agent was terrible at their home search, just let them know your position and go on your separate ways. Do your research, and you'll find the right agent.
(310) 463-8088. 310-463-8088
When you want to buy a home the best place to start is to hire an EXCLUSIVE Buyer Agent, not just a Buyer's Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. I can refer you to an EBA in your area, if you like.
I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home and get a mortgage without getting ripped off. Follow the link below.
Best of luck!
The agent gets compensated after they find you a property that you like. We submit an offer on your behalf, negotiate with the seller and see if all parties can agree on price and terms. Next we open escrow and start the 17 day contingency period and on the 18th day remove all contingencies after we approve all the inspections and sellers disclosures. Lastly, we help the bank with all the necessary documents needed from the buyer in order to meet the closing deadline. If we do all of the above successfully we get paid.
David R. Indermill
Re/Max Hall Of Fame, CDPE | Since 1998 | Luxury Real Estate Advisor
International Referrals | Bank Owned Assets | Off Market Properties
Large Cash Investor Fast Close Network | B.R.E License # 01232827
Cell: 858-414-LIST (5478) Texting OK
Hope this helps, and good luck!
Just a few thoughts...Generally speaking, in the sale of a property the Seller brings the property to the table...the Buyer brings the money to the table. After negotiations and an agreed upon price a written Contract to Purchase is signed buy Buyer & Seller. At the time of the closing and recording of the deed, all agents involved in the sale receive their commissions based on the Listing Contract (or other negotiated terms that may be in the Contract to Purchase). Subsequently, no sale ...no commission.
However, there are exceptions to the rule. If you were to have a Buyers Representation Agreement (AAP-11) with the Agent that had been showing you the properties (agent #1) and placed an offer that was accepted and closed with another Real Estate Agent (agent #2) during the term of your agreement with Agent #1, you may be liable for compensating Agent #1 as per the terms of the existing contract. If you do have a Buyers Representation Agreement with Agent #1 and wish to change Agents, they may have the ability to release you from the contract. This documentation would need to be in writing and approved by the Broker that the Agent is affiliated with.
There are also other types of Buyer Representation in the state of California. I would suggest if you have further concerns to view California Association Or Realtors website at http://www.car.org Hope this helps.
Lori Walker, Realtor
Kinlin Grover Real Estate-Real Living
First and foremost, thank you for posting a question here at trulia. I appreciate it. No, you should not pay an agent to show you properties. When a buyer enters a transaction, the seller pays the buyer's agent. If I can be of further assistance, I am here to help you.
Star Real Estate South County
If you don't buy and think they are good at what they do you can reward them for their efforts by recommending them to your friends, family, and business associates.
Lance R. King – Broker/CEO
King Realty Group
BRE # 01384425
415.722.5549 - Cell
I would talk to a lender about qualifying before you start looking though.
The way it works with "Buyer Agency" is that we provide our services to you and are paid when you purchase a property at the end of escrow. The most a "Buyer Agent" will ask you for is a loyalty agreement.
You can "opt" to pay commission to your Realtor though, by way of an exclusive contract with them. This doesn't usually happen unless the seller in a For Sale by owner situation refuses to pay commission.
Hopefully you do find a good property, but it takes determination and persistence and a very strong Realtor to get a home in this type of market.
Trey Hohman | Realtor® | Berkshire Hathaway HomeServices CA Properties | Los Feliz Branch
CAL Bre # 01443279 (personal) / #01317331 (office)
Please feel free to contact me if you need any assistance with a pre-approval before you start your house hunting. Most agents like to know if you have that before they start showing you houses. Plus, we can process your file with a TBA status, and once you find the right home, we can close in about 10 days!
I wish you the best in finding the right home!
450 N. Brand Blvd suite 150
Glendale, CA 91203
Good Luck and Happy House Hunting.
When working with a potential homebuyer like yourself, we don't get paid until the close of escrow. So there's no obligation to pay an agent for showing you houses. If you have any questions, feel free to contact me.
Keller Williams Realty
CA BRE #01946998