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Hi Folks,
I sometime think that in cary, where most of the houses are in newly built subdivision, there is no need to have a broker to buy a house. The house are new and the houses are built by reputed builders and hence there is minimum chance of fraud etc. If one is ready to do little bit of leg work and some hard negotiating then one can comfortable buy a house. The money spend on the buyers's agent commission could be negotiated into the selling price.
So , what do you folks think? Do we need a agent or we can do without it.
Hi Folks,
I sometime think that in cary, where most of the houses are in newly built subdivision, there is no need to have a broker to buy a house. The house are new and the houses are built by reputed builders and hence there is minimum chance of fraud etc. If one is ready to do little bit of leg work and some hard negotiating then one can comfortable buy a house. The money spend on the buyers's agent commission could be negotiated into the selling price.
So , what do you folks think? Do we need a agent or we can do without it.
thanks
Cashflow
Realtors cannot and do not protect you against fraud. Attorneys do that. I personally view a realtor more useful in finding a home versus selling. But that is just me. They have resources to find you that extra "something" that you won;t do on your own. For new track homes you are probably right, but for existing homes, you would want an agent. If my home were for sale and you wanted come by to see it without an agent, I might be suspicious.
Hi Folks,
I sometime think that in cary, where most of the houses are in newly built subdivision, there is no need to have a broker to buy a house. The house are new and the houses are built by reputed builders and hence there is minimum chance of fraud etc. If one is ready to do little bit of leg work and some hard negotiating then one can comfortable buy a house. The money spend on the buyers's agent commission could be negotiated into the selling price.
So , what do you folks think? Do we need a agent or we can do without it.
thanks
Cashflow
I know we have asked and answered this one a zillion times.
A buyer's agent does NOT cost you. A buyer's agent is paid by the seller/listing agent/builder. It is built into the marketing fund so if you think you'll save 2.5% by not using a buyer's agent, a good agent could have saved you double!
ANY problems and you are on your own. How many houses have you purchased? 2 or 3? How many houses has a buyer's agent helped buyers purchase? 2 or 3 a month.
Please look back over the threads on this subject and read it.
It isn't always as easy as it sounds. There are problems that appear and you have no experience in dealing with these problems.
The agent in the model home works for the builder and as nice as she may be to you, she is legally bound to get the builder more money. When a problem arises, she works for the builder, not the buyer.
You THINK problems won't arise. Believe me, there is always something!
Read previous threads and you'll see what can happen and why you should have an agent to represent you!
If you don't bring a Realtor and all the commission ends up going to the selling agent, is there any possibility the selling agent would give up some of their commission to close the deal for an educated buyer that brings in a low price?
Do you mean approaching a seller that has their house listed with a realtor??
I am wondering if it is in the contract with the selling agent that the seller cannot show a house own their on..I would think so.
They listed and advertised it.
PS. Never expect a realtor to say you can do it without them LOL
The attorney does more to protect you than anyone else IMHO.
If you don't bring a Realtor and all the commission ends up going to the selling agent, is there any possibility the selling agent would give up some of their commission to close the deal for an educated buyer that brings in a low price?
I have seen this happen.... just be "oh so close" to the deal and have them explore ways to close the gap. Then throw out the fact that if the
agent dropped the commission 1 percentage it would make everything work. Remember the realtor will still be getting more than with someone who has a realtor.
If you don't bring a Realtor and all the commission ends up going to the selling agent, is there any possibility the selling agent would give up some of their commission to close the deal for an educated buyer that brings in a low price?
No, you misunderstand. The commission split in this area, although NOT set in stone, since commissions cannot be set in stone, usually is 2.5% to the listing agent (person in model home), 2.5% to the selling agent (buyer's agent) and 1% to the developer (marketing fund).
If there is no buyer's agent, the 2.5% does not come out of the marketing account. It does NOT go to the onsite agent in new construction.
If the person in the model home isn't a RE Agent, she/he is a salaried employee of the builder. In that case, they get their salary plus bonuses on the amount of houses they sell, with or without the buyer's agent.
New construction is totally different than a re sale.
What I ALWAYS find is that if a buyer tells me that he walked into the model home and negotiated for himself and the builder told him that he could have the 2.5% since he had no buyer's agent...most experienced would have gotten him much more than 2.5% off the house.
I see it all the time, when I go back to the comps and see what he paid versus what others have paid.
This is the actual truth: I had a buyer who purchased a townhouse in Bedford. The builder was giving $5,000 in furniture/decorating from Green Front. My buyer got this because I mentioned it. The onsite agent did not offer it.
After my buyer moved in, she was talking to a neighbor and asked the neighbor if she had used her $5,000. The neighbor had no idea what she was talking about. After she explained it, the neighbor went to the onsite agent and asked why she didn't get the $5,000 for decorating. The onsite agent said "I'm sorry but I have to get the best deal for my builder" and I do not have to disclose what other buyers get as far as incentives.
Do you mean approaching a seller that has their house listed with a realtor??
I am wondering if it is in the contract with the selling agent that the seller cannot show a house own their on..I would think so.
They listed and advertised it.
PS. Never expect a realtor to say you can do it without them LOL
The attorney does more to protect you than anyone else IMHO.
How is it that you say the "attorney does more to protect you"?
The attorney does search the title and get the paperwork done so that all the legal docs are done correctly BUT...
Does the attorney go with you for your walk throughs? Does the attorney help you work out the issues with your inspections? Does the attorney pull the comps to tell you what the other homes have been selling for so that you can make an educated decision? I could go on and on but I won't.
I suggest to those of you that do not WANT a Realtor, do not use a Realtor. However, please don't advise others when you simply do not have the experience to advise them.
It a real simple answer. YES. In case that was not clear, Y-E-S!
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