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I may be looking to buy a house in another state (where i will be moving soon) and I don't have an agent yet. I called on a listing and left a message for the sellers agent. I doubt it will be available when I'm ready to buy in a month, but maybe it will be. For this place or any other, if I just talk to the agent on the phone to ask some questions, will I be required to pay them buyers commission if I happen to buy that place?
I may be looking to buy a house in another state (where i will be moving soon) and I don't have an agent yet. I called on a listing and left a message for the sellers agent. I doubt it will be available when I'm ready to buy in a month, but maybe it will be. For this place or any other, if I just talk to the agent on the phone to ask some questions, will I be required to pay them buyers commission if I happen to buy that place?
So you left a message for the seller's agent.
Don't call seller's agents. Look up the listing on Realtor dot com for information. If you don't like dual agency you need to get yourself a buyer's agent to represent you and the buyer's agent will get the information or you. Or, if you simply want preliminary information, you can look up the house address on www.Realtor.com if you don't have a buyer's agent yet.
Remember to sign an exclusive buyer's agency agreement so you are sure your buyer's agent is working 100% for you and not the seller.
To answer your question directly, just calling and asking questions will not obligate you to pay any commission. However, if the agent says, "would you like more information, I'll send you some?" or "Would you like to set up an appointment to View the home?" or other such offers for service, then you may be establishing an "agency relationship" that will ultimately cost you the ability to bring your own agent into the transaction later.
The question I have to ask is why not establish a relationship with a buyers agent now and let them do some of the leg work? Viewing homes on the internet does not give you access to all the information you need to make an intelligent decision. Calling every listing agent to inquire is a big waste of time. Finally, do not forget the listing agent works for the seller and while they may be perfectly honest, they are not going to tell you about the better deal just down the street or the fact that they are $10K overpriced or the house is on a busy corner, etc. A buyers agent that knows the area, the contract and the market will put you a leg up when it comes time to make your offer.
I may be looking to buy a house in another state (where i will be moving soon) and I don't have an agent yet. I called on a listing and left a message for the sellers agent. I doubt it will be available when I'm ready to buy in a month, but maybe it will be. For this place or any other, if I just talk to the agent on the phone to ask some questions, will I be required to pay them buyers commission if I happen to buy that place?
Seller's agents represent the sellers. You absolutely can call the seller's agent without fear of having to pay a buyer's commission to them. That is their job - to list the property, market the property, answer questions about the property, and even show the property to prospective buyers. Dont let anyone tell you otherwise.
That said - if your buying in another state, you really should have a local agent help you unless you know everything about that area. Houses are expensive to sell, moving is a HUGE pain, and an Agent can make sure that you get the right house in the right place. Unless you have lived in area, you really do not know that area, and a local agent, a good local agent, will be able to help you out tremendously when it comes to the area you are interested.
Just a full disclosure note - I am a big fan of DIY, and if you are capable of handling a real estate transaction yourself, then dont let others try to stand in your way...there are plenty that will try and tell you that you can't do it - I got my real estate license so that I would not need an agent anymore when I buy property and help others to do it - but I would not consider buying property in an area that I am not intimately familiar with without the help of an agent.
If you buy the place, the only commission paid is that paid by the seller according to the listing contract with the listing agent. The seller agrees to pay the listing agent's broker whatever percent they've agreed on when the place closes. So, whether you are not represented, represented by the listing agent, or represented by an agent who handles your side exclusively, it won't matter to you as far as commission goes. I agree with QC, though. Get yourself an agent and, to avoid any confusion when you call for info, you can tell them that you prefer to have your own agent if you go forward.
I called on a couple listings. It won't matter that I talked to any of the agents, because they were either currently pending or probably will be soon. I talked to one lady with such a thick accent I couldn't hardly talk to her. The couple others, went to a receptionist and took my name and number. I'll pass on having them send me info if they call back.
I did find an agent that wasn't on any of those listing and spoke to him for about 10 mins. He's an old guy with a lot of experience and was easy to talk to, so I think I'll go with him.
I did find an agent that wasn't on any of those listing and spoke to him for about 10 mins. He's an old guy with a lot of experience and was easy to talk to, so I think I'll go with him.
Did you ask this agent's experience with long-distance clients?
I did find an agent that wasn't on any of those listing and spoke to him for about 10 mins. He's an old guy with a lot of experience and was easy to talk to, so I think I'll go with him.
Sounds like a good fit.
Ask him how many Buyers he's worked with in the last 3-5 years.
I have an Older Buyers agent I'm working with who turned out to be a part timer, jack of all trades.
He has only done about 3-4 transactions in the last 5 years and is very inexperienced and it really shows.
Verify his experience.
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