Home Buying in 04102>Question Details

Sharon, Home Buyer in 04102

I would like to make an offer on a property..

Asked by Sharon, 04102 Sun Mar 1, 2009

I looked at the property before I signed with my present realtor. Do I need to use my present realtor if I saw the property before I signed with him. ? Thanks for any answers

Help the community by answering this question:


Why wouldn't you want to use your Realtor? The Realtor you just signed with is there to represent YOU in all real estate dealings....his/her services DO NOT cost you anything unless the seller is a "FOR SALE BY OWNER" and in that case the Realtor needs to negotiate with the seller. You as the buyer WILL NOT get a better price by not having your own Realtor (a buyer's agent)...the only thing that will happen is that you will not have anyone working totally with and for your interests ( in other words, if you are dealing with the seller's agent then he can not advise you, he can only do what you ask him to do)...I suggest you take advantage of the Realtor's services you signed up with...

Marci Weinberg, Realtor
ReMaxAction REal Estate
Richmond, Va
1 vote Thank Flag Link Sun Mar 1, 2009
As a seller I can say that I'm charging more on the sale price of my home because I have a realtor so it's not true you won't pay anything. Whoever buys my home will be paying the entire agent fee- it'll just be in their morgage. However you should have a realtor help you out. Another comment mentioned that dual representation isn't really representing the buyer and he's right. I'm very unsatisfied with my selling agent and am thinking of switching. . .if you don't like your agent be straight with them but, find one you do like and use them. Happy home buying.
0 votes Thank Flag Link Mon May 4, 2009
Hi Sharon - I read your question a little differently. I read that you are just seeking clarification on how to proceed because you have seen this property previously. Since you have a signed Buyer's Agency agreement, let your Agent know that you have seen this property before. Be cautious about making an offer without your Agent, because once you have a signed agreement, you might become liable for a commission if you purchase a property without this Agent. Again, read your agreement and then talk with your Agent. Good luck and I hope you get the home of your dreams!
Margaret Mitchell
Coldwell Banker Yorke Realty
York, Maine
0 votes Thank Flag Link Mon Mar 2, 2009
Hi Sharon-
I'm thinking by your question that you signed with a Realtor and now maybe you realize that you and he/she don't have the right chemistry. I would suggest "talking straight" with the Realtor, and maybe work out a new client agreement or even possibly a termination to the agreement before you make any moves. If I am wrong then I don't see any reason why you wouldn't want to go with your Realtor. They are there for you and only you (not the seller) and will help you navigate the waters. That's their job that's what they do- all the time. I am an advocate for representation and a firm believer that nobody should go it alone. Breathe deep, relax and have fun with your new "partner in real estate" I think you will be very happy in the long run. Good luck!
0 votes Thank Flag Link Sun Mar 1, 2009
Hello Sharon,

If the property is a listed home, then the seller's agent is offering compensation to whichever agent brings the buyer. This is called a co-broke. I'm not sure if you signed an Exclusive Right to Buy agreement, which will tell you whether or not your agent is charging you an additional fee besides what the seller's agent is willing to compensate them. If this is a FSBO property, your agent would spell out the terms there as to how the compensation will work. I know many agents that do not charge their buyers any additional fees and are completely happy with the seller's agent compensation.
The seller pays the commission and in most cases the buyer does not.
If this is the scenario you are in, I'm not sure why you wouldn't want to use your current agent and have someone representing your best interest. If your unhappy with your current agent, I would recommend communicating that to them honestly.
I would recommend you use a professional Realtor to handle your best interest.

Best Regards,

Deja Lett, Realtor
Assist 2 Sell Home Team Advantage
13 Park Street
Saco, ME 04072
Web Reference: http://www.hometeamadv.com
0 votes Thank Flag Link Sun Mar 1, 2009
Marci is absolutely right. I'm not a realtor, I'm a loan officer but I can tell you that everything Marci just said below is correct. No$Down apparently believes that each party in a transaction pays their own realtor to represent them. That is not true 99% of the time. If the property is listed for sale by a real estate agent, it's the seller that pays for the realtors involved in the transaction. If you just go with the sellers real estate agent you will walk through that transaction without anyone looking out for you. It's call dual agency but in actuality the agent can't represent both sides so they are always looking out for the seller only. Not the buyer. But they collect 100% of the commission because there is not another agent involved.
Have a full time realtor represent you.
Good luck.
0 votes Thank Flag Link Sun Mar 1, 2009
Have your agent help you. It is in your best interest.
0 votes Thank Flag Link Sun Mar 1, 2009
Nope. Just do it yourself and save the 3%. They will be upset and every single Realtor below is going to talk you out of it, but just keep in mind that on just $200K HOUSE not using a Realtor puts $6,000.00 in your pocket. That is enough for a vacation or small boat or some super nice improvement.
0 votes Thank Flag Link Sun Mar 1, 2009
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