06-25-2008 01:34 PM
06-26-2008 02:46 PM
Redfin Open Book
06-27-2008 08:19 AM
07-13-2008 07:50 AM
Sure, a listing agent can show you the property, and then you can run off and get your own buyer agent... all will seem smooth... and then after closing the listing agent sues the buyer agent for "procuring cause." And they oftentimes win.
But regardless of procuring cause, another reason to not do it is representation. That listing agent does 100% everything in the best interest of the seller. They do NOT work for you. They won't tell you "well my last 5 deals I dropped $22,000 off list, so offer XYZ." But a buyer agent CAN tell you what the listing agent's track record has been.
And, if you select something called "dual agency", which is ILLEGAL in some states, then the Realtor is supposed to work for NEITHER party and just becomes a paper pusher (ie no advice on pricing, home inspection etc). What benefit do you get there?
Recently I was the listing agent for a place. The buyer agent couldn't make it, so I reluctantly showed the listings (my mom's house actually).
The buyer ended up putting in an offer and bought it. But during the under contract phase they suddenly wanted all my stager's props. She went on to say "but Frank said that it came with the house." When in fact my exact words were "everything is negotiable." But since their offer was X with no mention of the bathroom props, that is the deal. If she wanted the stuff, she should have offered more and asked for the stuff in the contract.
While that might seem minor, it is just better to have a church and state separation. You know who works for whom.
Frank Borges LL0SA
08-05-2008 12:22 PM
08-05-2008 12:37 PM
08-06-2008 08:20 AM
Good to know someone else understands my frustration and unique dilemma. Usually the reaction to my long-term, grueling search is that it "must be nice" to be in my financial situation. Not really, I'm just responsible and live WELL below my means like everyone should--no sympathy here for foreclosure participants. People need to have a plan in case they lose their jobs, have medical hardship, etc. People tend to bite off more than they can chew and take risks that are ridiculous. I'm also single and must go it alone. Not that I never plan to get all the frills someday that everybody else seems to have, like cable or satellite TV, high-speed internet, etc.
I have put in several hundred hours of work on trying to find a home. You're right, I've become somewhat of an expert. I never considered getting a license and don't know how time-consuming that would be in MD. I should look into that. When I finally do sell my current home, I should probably do it myself.
At this point, regarding the dual agency approach, if I find a home I actually WANT (happens so rarely), I won't feel as inclined to bargain so much if the home is within $25k of comps. Obviously I would like to get a good deal, as that's how I've lived my life and managed to save so much money. With my being so frugal, you must know that bargains, retail sales, coupons, the whole bit, are important to me. But I'm tired of playing the game and wasting so much time with this process. I'm sure the folks who got the house I wanted were not able to swing the 40% downpayment like I was, but obviously that didn't help my bargaining position as I thought it would. When I put the contract on the home, I said the only person who would beat me out would be a foreign investor. The buyers who landed the contract are from somewhere in Europe.
08-06-2008 08:37 AM
08-06-2008 01:45 PM
08-06-2008 10:06 PM
But I'm tired of playing the game and wasting so much time with this process.
I know the games suck, but you have two choices...
1) High Price and a Fast painless deal or
2) Low Price and slow play it.
Can't have it both ways in my opinion. High and Fast or Slow and Low.
And have that Dual Agent buyer agent show you the last 3 homes that the seller has sold in the last 10 years to find a pattern... oh wait, that is right, they can't help you OR the client that hired them. They just have to shuffle paper like Dunder Mifflin (anybody get that reference? If not Google it)