djg0101, Other/Just Looking in 48316

With web sites like trulia on others, why do I need a real estate buyer's agent? I can contact the listing agent directly.

Asked by djg0101, 48316 Sat Jul 21, 2012

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dig0101,
You can work with the listing agent of the property and sometimes that works out well. The agent would be what we call a dual agent in that case and would be representing you and the seller. If your OK with that and it's permissible with the state in your area thats fine. If want someone to only represent you then a buyers agent is your best choice. Normally any agent your work with other than the listing agent would be your representative. Most of the time you don't pay for that agent yourself, he/she gets paid from the seller through the contract they have with the listing agency. You can however have a buyers agent contract where you may have to pay some or all of the buyers agent commission. Most of the time this is not necessary.

All the best,

Gary Geer

http://www.ggeer.illinoisproperty.com
0 votes Thank Flag Link Sat Jul 21, 2012
"Most of the time you don't pay for that agent yourself, he/she gets paid from the seller through the contract they have with the listing agency." Ultimatley the buyer pays for the seller's commision. The seller just increases their selling price the cost of the commission.
Flag Fri Aug 24, 2012
With the new INTERNET, you can probably never leave your apartment:
You can shop from your couch and never meet another human being.

This is a good idea, because you can trust that everything on the Internet is the truth!
2 votes Thank Flag Link Sat Jul 21, 2012
You are right, you can.
Listing agents like myself have happy, sugar-plumb dreams of buyers calling us directly.
Certainly there must be a warm and fuzzy feeling for these buyers who think they have somehow circumvented the process in place to protect them. I do, however, wholeheartedly support the right of buyers to put themselves in harms way.
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There is only ONE situation where it proves to be strategically beneficial for the buyer to buy through the listing agent. This situation, if present, would most certainly have been included in your question.
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Those rainbow emblazoned days are not so common in this market. You should be a rainbow maker and give those listing agents a call.
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Hmmm, what will you do when you encounter the 'no touch' listing agent. There are an increasing number of them. They don't answer their phone and rely on existing 'no touch' scheduling. These properties are sold exclusively through buyer agents. No touch, is a valid business model and works exceptionally well for many very high volume brokers and agents.
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Oh, are you aware by the time a listing appear on aggregate websites it has already been rejected by no less than three pools of buyers? How do you think those homes sold, that show only one day on the market? Don't let that concern you. These pools are for "A" and "B" list buyers and those who work within collaborative network are regionally active agents.
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Why do I need a real estate buyers agent?
I do not believe there is a valid reason for you to have one.
However, most serious buyer will see the value not only in making their home search more efficient, but in the 'first look' capacity so many buyers need today and guidance in avoiding and/or resolving the predictable obstacles that plague every transaction.

Best of success in purchasing your Shelby Township home,
2 votes Thank Flag Link Sat Jul 21, 2012
I have heard of "hip pocket listings" and other techniques to keep information from the general public. I guess there are still secrets in Real Estate buying. I think I want to take my chances in finding a honest listing agent that will give me an transparent deal when buying my next house.
Flag Sun Jul 22, 2012
You've answered your own question, haven't you?
2 votes Thank Flag Link Sat Jul 21, 2012
I've already answered earlier, but after reading through the newer answers I have to say that Carolyn Muhah is from your area, so why not check with her if you haven't done so already. It appears that MI laws are similar to WI. In our state, I can work with you for six months and you finally find that perfect home - you know, the one that gives you the warm fuzzies - then you ask me to perform a market analysis to see if you are over paying for the property. I can't do that! And I can't tell you! Without a contract between you and I, otherwise known as Buyer Agency, I cannot help you with that!!

It sounds as though the laws in MI are the same, judging from some of the previous answers.

And as far as fees go............. once again, I am not sure about MI, but my buyer agency form only requires buyers to pay the co-broke if they decide to go for a FSBO, otherwise known as For Sale By Owner, and the FSBO refuses to pay a commission, which hasn't happened yet. Most FSBO's are thrilled to pay a commission if you bring them a buyer.

So if you decide to hire an agent to be YOUR AGENT, ask to review the agreement ahead of time. Take it to your attorney if you like. But for Pete's sake, get an agent to represent your interests. You will be much better off in the end.
0 votes Thank Flag Link Thu Aug 16, 2012
Just adding my two cents: Sites like Trulia don't have the most updated listings! And...it's difficult for Average Joe Buyer to identify who the listing agent really is. Trulia is very sneaky that way in that they sell advertising to agents, which makes it a bit misleading to the consumer. So the pretty little face next to the listing may or may not be the actual listing agent!

If I had a dollar for every time a buyer contacts me about a "my" listing on Trulia AND that listing is either under contract or SOLD weeks ago...I'd have about $8,475. Maybe more.
0 votes Thank Flag Link Thu Aug 16, 2012
I am sorry to hear that you've had a negative experience with Buyer's Agents. Always good to align yourself with resources that have the knowledge, skills and agency support to make a real and positive contribution to your effort. It sounds to me as though that hasn't been the case in the past for you - sounds like you have identified a few agents not to work with. However working with a specific agent to represent you and not the seller, can be in your best interest. The challenge is finding the right one. When you do, you will enjoy a great benefit.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Thu Aug 16, 2012
Lots of great answers and I hope you realize the importance of working with a Buyers Agent if you are planning on purchasing a home. You have to remember Realtors are professionals at what they do and continually are educated each year on many changes in the industry. A Realtor who represents you as a Buyers Agent must have your best interest and will be working on your behalf and not for the Seller. Trulia ia a great site but not all the information on the site is correct. As agents we know that many times what we see posted is not correct. Get your questions answered find a good agent that will work for you to find your next home. It doesn't cost you anything.

Good luck
0 votes Thank Flag Link Wed Aug 1, 2012
Best advise.... read your local agnecy disclosure and the defintions for each way the agent can represent you... Most all listings are listed with the agent representing the Seller as a Sellers Agent, the Seller will have to give prior agreement to their agent to allow them to tell you they can now represent them as a Dual Agent as by doing so they now do not represent either one of you with Dual agency
here are terms of each to better explain......
DUAL AGENTS
A real estate licensee can be the agent of both the seller and the buyer in a transaction, but only with the knowledge and informed consent, in writing, of both the seller and the buyer.
In such a dual agency situation, the licensee will not be able to disclose all known information to either the seller or the buyer. As a dual agent, the licensee will not be able to provide the full range of fiduciary duties to the seller or the buyer. The obligations of a dual agent are subject to any specific provisions set forth in any agreement between the dual agent, the seller and the buyer.

SELLER'S AGENTS
A seller's agent, under a listing agreement with the seller, acts solely on behalf of the seller. A seller can authorize a seller's agent to work with subagents, buyer's agents and/or transaction coordinators. A subagent of the seller is one who has agreed to work with the listing agent, and who, like the listing agent, acts solely on behalf of the seller. Seller's agents and their subagents will disclose to the
seller known information about the buyer which may be used to the benefit of the seller.

BUYER'S AGENTS
A buyer's agent, under a buyer's agency agreement with the buyer, acts solely on behalf of the buyer. A subagent of the buyer is one who has agreed to work with the buyer's agent with who, like the buyer's agent, acts solely on behalf of the buyer. Buyer's agents and their subagents will disclose to the buyer known information about the seller which may be used to benefit the buyer.
0 votes Thank Flag Link Tue Jul 31, 2012
You said that you had a bad experience with one agent. That hardly seems a great criteria to base your opinion on. Perhaps you should interview several agents or more than several. Now that you have been through this process twice, you should know exactly what questions to ask to find a good fit. I can't imagine how you would be better off using the listing agent versus your own agent.
0 votes Thank Flag Link Tue Jul 31, 2012
The Listing agent works for the sller and must disclose that to you, they can take any info you tell or give them and they have to let the seller know, on the other hand they do not have to disclose to you anything about the seller, they are not supposed to pull comps for you, they are NOT suposed to help you get the best price possible as the WORK FOR THE SELLER. You want an agent that Looks out for your best interest and works for YOU. If you wirte an offer on a listing with the Listing agent and you tell them for instance , well, maybe I will come up to such and such a price... they have to tell the seller that. If they know what the seller will come down to in price they are not ALLOWED to tell you that at all. otherwise they are NOT doing what their contract states and if they are being unfair to the Client they have "the Seller" do you think they are being fair to you? "NO"
0 votes Thank Flag Link Tue Jul 31, 2012
djg0101,

Why would you want to do all that extra work? A great Agent will call set up the appointments for you.Get information for properties that meet your criteria. Schedule multiple homes at once. Assist you in making your home buying experience a better one.You can do all that yourself if you like.. this is what we do. We provide a service that deals with SERVICE!

Anyone of us would be happy to provide you with that!


Good luck,


Vera
0 votes Thank Flag Link Thu Jul 26, 2012
I am still not convinced that being represented by a buyer's agent would help me. I do not want to list my bad experience of having a buyer's agent help in the purchase of my last two houses. In the future I am only going to contact listing agents that work for a major Real Estate office.
0 votes Thank Flag Link Wed Jul 25, 2012
dig0101,

Let me ask you a question. Why wouldn't you use a buyers agent when they have all the experience & you do not have to pay them? A buyers agent represent the buyer & not the seller but the sellers pay the commission.
Why would you want someone to sell you a particular house instead of someone who will direct you to the best house for you?
I send emails to my clients from my website that has direct access to 2 multi lists. This information on my website is immediate. The web sites like trulia & realtor.com get their information from the multi list but there is a delay. In today's market the early bird catches the worm. There might be a home listed & by the time it gets to trulia, it could be gone.
0 votes Thank Flag Link Sun Jul 22, 2012
Its in your best interest to use a buyers agent because they would work "for" you, they work to get you the best deal possible. If you work directly with the listing agent, that agent will be working "with" you. If an agent is working with both buyer and seller, at least in colorado, they are considered a transaction broker, meaning they're "assisting" both the buyer and seller but not an agent for either one.
0 votes Thank Flag Link Sat Jul 21, 2012
Yes, you can contact the listing agent directly. However, do you want someone working for you protecting your best interest or do you want someone working and trying to please both parties? In other words, do you want a coach or a referee? You may not save any money by dealing with the listing agent and it could cost you more. When a (dual) agent consults you on making an offer, they can not legally show you a CMA different than what they have shown the sellers for example.
If you are still interested in using the sellers agent ask them this question; "What is your fiduciary duty and how can you serve us both?" If they can not answer that, then move on to someone who can and will represent you and only you.
Web Reference: http://www.johngitre.com
0 votes Thank Flag Link Sat Jul 21, 2012
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