is it really a good idea to retain an exclusive buyer's agent?

Asked by Henry, East Brunswick, NJ Wed Feb 18, 2009

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7
Alice, , Middlesex County, NJ
Sun Feb 22, 2009
Hello Henry,
I would have to agree that you must feel comfortable with your realtor. If you are specific up front with your needs and they are willing to go the extra mile for you, if necessary, I am sure you will be satisfied. Not all personalities click. Do not sign any paperwork until you are sure you have the right representative to work with you. Once you establish that you should sign to avoid any conflict between muliptle realtors down the road.

Regards,
Alice "Allie" Matthews
Orange Key Realty
732 718-6515 direct
alliematthews@verizon.net
1 vote
William Leigh…, , New Jersey
Thu Feb 19, 2009
Henry: We're up to four answers without a rant from the "I only represent buyers" crowd! How nice. The best thing to do, in my opinion, is to find a Realtor who "works" for you, understands your needs and knows the business and the area. Some realtors are very peppy but know little. You will be asked to sign a Buyer's agency contract with many. While this can be a binding nuisance, most realtors will allow escape from them, since there's nothing worse than a failed relationship (Ask Dear Abby!) Don't expect the escape to be Scot free if you just wandered off with another agent and bought a house, though.

If you sign a contract, be sure you know EXACTLY what it says and what the deal is all about.

Depending on the range of your search, you may find that you are looking beyond any one agent's scope. In that case, be honest with your now multiple agents. Let them know how you are working. You may find less enthusiasm but you will sleep better, knowing you did not mislead someone, expecting them to work very hard for no compensation. Realtors make no money at all if another agent sells you a house (unless they can enforce a contract that says that they will be paid if you buy ANY house. It is usually in a buyer's agency contract.)

And, in case you were wondering, I do not work with buyers without a contract. Been burned too often!
1 vote
Francesca Pa…, Agent, Manasquan, NJ
Wed Feb 18, 2009
Henry,

I concur with Jill's comment "find a realtor they get along with and stick with that realtor". The most important aspect of any relationship is how comfortable you feel working with them and their level of knowledge.

In the same respect, I have worked who buyers who clearly indicate UPFRONT that their perferance is to work with multiple relators who have an expertise in the individual specific areas within which they are looking. Some I've closed, some I've lost gracefully lost to another well qualified Realtor; it's all apart of this business.

Be aware of the "Buyer's Agency Agreement" which is designed to commit you to one specific Realtor no matter where u buy. I would encourage u to sign such an agreement, but be sure to include a clause that indicates your preferences/expectations of the Realtor to which you contract.

Sincerely,
Francesca Patrizio, Realtor Associate
NJAR Circle of Excellence '06-'07
REALMART REALTY - An AFFORDABLE Way to Sell your home
Ranked #15 of 436 Real Estate Brokers in Monmouth / Ocean County
Web Reference:  http://www.PatrizioRE.com
1 vote
Jillian Mason, Agent, Monroe, NJ
Wed Feb 18, 2009
Hi Henry. This depends on your level of comfort and preference. Some buyers want to work solely with listings agents because they feel they are getting a better deal. In this situation, the agent is a disclosed dual agent because they represent both the seller of the property and you as the buyer. Their first obligation is to the seller, yet they must be fair to you.
I always recommend to my clients that they find a realtor they get along with and stick with that realtor. Your realtor should be ethical, have strong negotiating skills, and be available to help you. You should form a partnership together. If you want this agent to be solely a buyer's agent so that you don't run into a dual agency situation, then there are some websites out there to find accredited buyer's agents.

Jillian Mason-Sales Associate
Direct: 732-586-5488
E-Mail: jillian@jillianmason.com
Web Reference:  http://www.jillianmason.com
1 vote
Anne Kofsky, Agent, East Brunswick, NJ
Thu May 28, 2009
My belief that you should pick and chose the realtor that tells the real deal, not one with a lot of fluff. Buying a home is a major decision and you should feel comfortable enough to ask your realtor some key questions to see if she or he has the right work ethic, knowledge, integrity. You need to establish a sense of trust. You want to know if the agent will go the extra mile. How long have they been selling real estate? What is their track record. Would they be willing to provide testimonials? When you start to look in an area try to find a real estate agent that specializes in that neighborhood. That agent will know the differences of the homes in that area. How to find this agent could be confusing. You may need to delve further to find the one that will work for you in your best interests. For more information about how I work and my track record please visit my website http://www.annekofsky.com. I can also be contacted directly at 732-735-9774. Thank you, Anne Kofsky
0 votes
Plano, , Plano, TX
Wed Feb 18, 2009
Usually it is. But there are some agents out there that are iffy. If you have a house hunting trip scheduled, sign an agreement for JUST those homes, or JUST that weekend.. etc (an agreement can be made to say anything or for anytime you want). Then, if you are still comfortable with that agent, sign one for longer. If you are not happy with the agent then you can move on. If you end up finding a house at that time with that agent, then you have to stick with that agent for that house. Generally speaking atleast.
0 votes
Dallas Texas, Agent, Dallas, TN
Wed Feb 18, 2009
Here is a direct link of another Trulia question I answered I hope that assists.

http://www.trulia.com/voices/Home_Buying/What_s_the_possible…
Web Reference:  http://www.lynn911.com
0 votes
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