Patrick Beringer

Excellent Post Derek! So many sellers just go with the agent who immediately offers to cut commission or suggests a high listing price. I hope that more and more agents realize that just putting a sign in the yard isn't going to get the house sold. Having a lot of listings does not make you a good agent--Selling those listings does. - Fri Nov 14 2008, 12:32

Hi Julie--If you want a referral let me know, I can connect you with an excellent agent in Reno who I've referred people to before. She'll get you the most money possible for your home. - Thu Nov 13 2008, 21:35

Good point Diana. I'm not sure exactly what Laura is asking here as it's not clear if she's "considering" renting the house or is already in it. But it makes sense that a lender who is losing money on a transaction wants to ensure that the seller isn't buying back the house via a relative or friend (sort of a "straw buyer") in an attempt to negate a portion of the mortgage due. This is fraud and certainly a lienholder is not out of line in requiring an arms length transaction.

The lienholder will choose to approve an offer based on it's merits. If what you're asking in your question is "Would the lienholder be more likely to accept my offer if I was the tenant?" The answer is no. What they care about is whether the offer is acceptable. I don't work there so can't tell you what they would consider "acceptable" in this case. If the property goes to a sherrif's auction, you can stand on the courthouse steps like everyone else. If the property is offered as a short sale, you can make an offer like everyone else.

If the property is sold to an investor who wants a tenant, he/she may allow you to stay, but that will have to be worked out between you. Most likely, if you're not the buyer you'd be looking at an eviction notice. - Sun Oct 26 2008, 12:12

Every agent does, as commission is negotiable. It really depends on what you're trying to do. - Sat Oct 25 2008, 20:43

Michael and Lori are right...it sounds like the listing agent is attempting to attract more offers. Is the new listing price more or less than your offer? - Fri Oct 24 2008, 16:11

Thanks for that post Paul and Laura. It's nice to know there are sane people out there somewhere. However, it appears that at this time, not only am I still here--My stalker is too: http://www.trulia.com/voices/profile/Home_Buyer-Seattle-350329 It appears he's cleaning up his act--I notice that some of his answers are changing--Some of the sexual innuendo has disappeared from his posts, and some of his more salacious and/or slanderous musings are gone. Just in case, I've been keeping copies of his handiwork. I figure Trulia would have access to every post, even those that have been altered or deleted, but just in case, I've kept screen shots of his handiwork. Hopefully this won't escalate, but you never know. The fact is, there are a lot of weirdos out there. I know of brokers who forbid their agents from meeting with prospective clients without first having them come to the office. More and more, I think this is an excellent idea--And it allows you to obtain a BA agreement as well. But back to the poster's question:

I wanted to comment on Paul's first answer, which I didn't get a chance to do before. It was VERY refreshing to read that comment with regard to what a buyer's agent is for--And it really isn't just to unlock the front door so a buyer can see a house. There's so much more that's involved.

Maybe people ask this question because of the old days when you'd go to a real estate office and look through the book of houses for sale. But the internet has really replaced that (some agencies keep a binder of their listings, but as far as I know, no one actually looks at the binder). Buyers have taken a larger share of responsibilty with regard to identifying properties they're interested in, as well as doing some of the research on them. Some of my clients actually just send me a list of MLS numbers they want to see.

As far as I'm concerned, my job really starts AFTER they've found a house they want to make an offer on. I won't repeat Paul's answer expanding on that as he did a great job already.

I think a lot of people have trouble with the idea that not using a buyer's agent in order to save 3% can cost much more than the 3% they think they're "saving." I also think there are a lot of listing agents out there who don't mind that at all... :) - Thu Oct 23 2008, 16:32

LOL, thanks Paul--I've been mulling over involving my attorney, but need to wait and see what progresses here. It will probably involve a subpeona for Trulia to get this person's original contact info, which will then probably involve a subpeona for Yahoo or MSN or whatever anonymous email service he's using--What a nightmare that will be, but if his behavior continues, I'll have no choice.

To answer the poster's original question in 3 words: "Cover your a$$." Now that you know the answer, work outward from there. Each transaction is different and price is only one consideration. I don't know the seller in this case, nor do I know the title history or condition of the property. But I do know this: I'm soon going to be buying a house for a family member who lives in another state. Even though I'm a Realtor, I'm not licensed in that state. I guess technically I could do it myself, but I'm going to find a buyer's agent down there and have them handle the transaction for me. Because I know what can happen, I wouldn't dream of entering strange territory to buy a house without a buyer's agent looking out for me. Even if I end up paying more for this (unlikely in this market), it's worth every penny--Much like a home inspection usually is.

Another thing to consider about FSBO's is that they think they're going to get more money by not using a listing agent. That's fine, but you also have to make sure the house is priced correctly as many FSBO's think Zillow will provide them with a market value, which, of course is impossible. A buyer's agent can advise you of the actual market value of the property based on good comps, not just what the seller "feels" it's worth. In most transactions, a buyer's agent's commission is paid by the seller, and even on a FSBO transaction, this will probably be true. Your agent can also ensure the legality of your transaction and can "cover your a$$" with regard to inspections, further negotiation, closing, title issues, etc.

Some transactions are easy, perhaps between close friends or relatives with no hidden issues or agendas, and if that's what you're doing here and you feel confident about it, I would wish you luck. But I don't know you either, so if you're unsure, you're probably better off with a buyer's agent. If you have any friends who are agents, you might want to talk this over with him/her. If you need a referral to an agent in your area, feel free to contact me or any of the other posters on this page. - Thu Oct 23 2008, 10:14

Hey everyone--The comments above did not come from me. This person ( http://www.trulia.com/voices/profile/Home_Buyer-Seattle-350329 ) has created a fake identity on Trulia using my name and picture and is now posting comments throughout the site.

Here's a link to my REAL profile:

http://www.trulia.com/voices/profile/Real_Estate_Pro-Seattle…

Here's a link to the IMPOSTER's profile:

http://www.trulia.com/voices/profile/Real_Estate_Pro-Seattle…

He has also created a 2nd profile called "(THE REAL) Harry Long", which he used yesterday to make it look like I and another poster stole his identity.

Any posts from me will come from my profile ending in 252707. You can hover your mouse over my name to see which it is.

I know, this is just bizarre. He's a fake "buyer" who is angry because I, along with a few others, called him out as a fraud. Now he's stealing my identity to post garbage throughout this site. I've reported him to Trulia, but they aren't too quick to take action. If you could also report this, it would expedite Trulia taking action.

Sorry about the inconvenience. The views of this psychopath do not reflect my opinions. - Thu Oct 23 2008, 08:47