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09-15-2009 09:24 PM
Because my current real estate agent is not very responsive when I need him, I wonder if I can have another real estate agent to help me find the house I want? I don't want to drop my current agent since he has been with me for more than 2 months. With two agents, do you think I have more chances for finding a house?
09-15-2009 09:27 PM
09-15-2009 09:42 PM
Thanks for your message. Your reponse seems to open for me another sky. But if I use the listing agent, who will protect the buyer? Can someone give me more details about how this works and share with me your experiences on how to have a listing agent as a buyer agent.
09-15-2009 10:27 PM
we put in an offer in june with a dual agent - no we didn't get it, and we have since dumped him for an agent we actually like and trust.
if your current agent isn't responsive, don't feel bad about dropping him - he should be working for his commission, no matter how long you've been with him.
09-15-2009 11:15 PM
They all sing the same song when you first go with them, but if they have to show you more than 6-10 houses, they get frustrated and start ignoring you. I've dropped three since May for not being responsive and not showing me any houses that they found on their own--oh, and not getting an offer in on time because they decided to take a last-minute vacation.
And what exactly did they do? No one has ever contacted me about a new listing or a listing not yet on the market. I was the one who was spending my evenings looking at listings and emailing them to schedule a time to show--all they did was show up and open the door. And for that they get a percentage of the sale? Oh, I forgot...they also use a computer program to type in the amount of the offer, check some boxes, then fax it over.
Having seen the kind of people that work as real estate agents, I have to quote Geico here: "It's so easy, even a caveman can do it"
09-16-2009 07:08 AM
Thanks Annie. I have the same story. My agent is just a guy who can open the dooor for me. I spent time for new house searching and send the list to my agent. He can't ever find for me a new house by himself! Never!. Usually, when I asked him if he ever contacted the seller's agent for more information so that I could make a good judgement on my offer, he always provided me less or nothing. He doesn't know even how much that house has been sold when I failed the bid! I guess today a real estate agent is just a door openner?
Thanks for all inputs in this forum. Now I feel confident to drop my agent for another one.
09-22-2009 05:41 PM
09-23-2009 11:36 AM - edited 09-23-2009 11:55 AM
Under the photo on Redfin you will see "Listing Courtesy of ......". That's the listing agent. You can also search on an MRMLS mirror website. You can google both for details.
If you are a first time buyer, it is probably better to find a qualified and recommended buyers agent who specializes in the neighborhoods you are seeking to buy, for exactly the reason you are asking - to have someone protecting your interest and to help you search. Going to a listing agent is a bit more of an advanced strategy. A buyers agent can walk you through a lot of important steps that should occur before you make any offer - such as lining up your financing and narrowing down your criterea for properties to view. If you already know exactly what property you want, you have the financing ready to go, you know how to successfully negotiate the deal, then you don't need a buyers agent on your side. Instead you can have a real estate attorney review your contracts and monitor the technicalities. Just be careful that the buyers agent seems to be working hard for you, and don't sign any long term exclusive agreement to lock you in.
If you ever feel pressured or uncomfortable with the buying process, that's the signal to step back from the process/agent until you find the reassurance you need or be prepared to find another agent. Buying a home is a major decision that is not to be taken lightly or quickly the first time you do it. Also avoid stretching your budget to the max allowed by the loan limits. If your payment is not comfortable, then you probably shouldn't buy at all, at least not without considering any options that may be affordable - even though they aren't your "dream home". Shoot for a good home that will work for you, and in some pricey areas that may not be possible.
09-23-2009 09:44 PM
Thanks Jquick for your precious advices. Since I'm a first time home buyer, I still don't know much about the real estate purchasing process, especially about having a real estate attorney to review the contract and monitor the technicalities. Usually my previous agent just let me make an offer. He did not involve in dealing with the seller's agent. So, assuming I'm able to deal and negotiate with the seller, what are the advantages and disadvantages of having a real estate attorney in purchasing a home? Could you or anyone please tell me briefly?
09-24-2009 01:21 AM
Before seeking for a house, seek a buyers agent who will work with you and comes with good references. Shop around, try some on. Have an agent show you one or two properties. See how long they take to respond to your phone calls, how much they listen to your needs, how well they explain the process to you. A real estate attorney comes much later in the process and can help you understand exactly what you will be signing, before you sign it. It does cost money of course, but it is money well spent compared to the cost if something goes wrong for something as expensive as a house. Too often first time homeowners will blindly trust the agent and sign whatever they ask. A lawyer of your choice is truly independent - everyone else has a stake in the transaction that can cloud their advice to you. If you end up buying more than one property, you may become familiar with the process to need less help and do more on your own.
Also, a fee-for-service, certified financial planner can be helpful to determine how the purchase of a home fits into your entire financial situation. It is very easy to become too focused on the purchase of a home to see how it fits into the big picture. Avoid any financial advisor who receives a commission of any kind from your investment, for the same reason as above - they have a financial incentive to recommend specific investments that are not in your best interests.