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riniko
LIF Toddler
Member since 3/06 486 total posts
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Pros and Cons of a Buyer's Agent/Broker
Some questions ...
What are the Pros and Cons of a Buyer's Agent/Broker?
Whats the difference between a buyer's agent and a buyer's broker?
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Posted 8/8/06 2:17 PM  |
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riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
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Re: Pros and Cons of a Buyer's Agent/Broker
bump?
Anyone use a Buyer's agent or broker?
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| Posted 8/9/06 6:48 AM |
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Re: Pros and Cons of a Buyer's Agent/Broker
The pro to using a buyers agent is you have someone that is looking out for you.
The con is that the sellers agent has to split the commission with the buyers agent. If there are two equal offers the sellers agent would want the seller to go with the person without a buyers agent because they will get more money.
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| Posted 8/9/06 7:08 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Pros and Cons of a Buyer's Agent/Broker
a con is that you have to pay the agent 30% of what they save you in the purchase price of the house.
lets say that you find a house and are able to get it for $30K below asking. you would have to pay the agent $9K.
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| Posted 8/9/06 8:47 AM |
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Dragonfly75
I love Hypnobabies
Member since 3/06 2333 total posts
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Re: Pros and Cons of a Buyer's Agent/Broker
Posted by SweetestOfPeas
a con is that you have to pay the agent 30% of what they save you in the purchase price of the house.
lets say that you find a house and are able to get it for $30K below asking. you would have to pay the agent $9K.
I've never heard of that. I used a buyer's agent and I didn't pay her anything. She got her regular commission from the sellers -- maybe different agents set things up differently?
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| Posted 8/9/06 8:53 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Pros and Cons of a Buyer's Agent/Broker
Posted by Dragonfly75
Posted by SweetestOfPeas
a con is that you have to pay the agent 30% of what they save you in the purchase price of the house.
lets say that you find a house and are able to get it for $30K below asking. you would have to pay the agent $9K.
I've never heard of that. I used a buyer's agent and I didn't pay her anything. She got her regular commission from the sellers -- maybe different agents set things up differently?
yea, I think that is the case. we tried to hire our agent to be our advocate and she told us that would be the cost and that we should save our money b/c we'll need it for the house.
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| Posted 8/9/06 8:54 AM |
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DeLeNi
LIF Zygote
Member since 4/06 15 total posts
Name:
Christina
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Re: Pros and Cons of a Buyer's Agent/Broker
A buyer's agent or Broker represents the buyer in the transaction. Usually the commission comes out of the proceeds of the sale - the same as it would normally.
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| Posted 8/11/06 10:39 PM |
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PRETTYPINK
LIF Toddler
Member since 7/06 393 total posts
Name:
A
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Re: Pros and Cons of a Buyer's Agent/Broker
We used the buyer's agent.
I believe it gave us an advantage because the broker really pushed the sellers towards us rather than the other two couples that had bids in because she didn't have to split her commission with anyone.
But that was when multiple people were bidding on the same house that just went on the market. Today is a different market.
We definitely didn't have much negotiiation power, but to be honest we were so happy to find a house in good condition for our price range that we jumped on it.
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| Posted 8/11/06 11:02 PM |
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Re: Pros and Cons of a Buyer's Agent/Broker
Posted by PRETTYPINK
I believe it gave us an advantage because the broker really pushed the sellers towards us rather than the other two couples that had bids in because she didn't have to split her commission with anyone.
I think you meant the seller's agent. The same thing happened with us.
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| Posted 8/12/06 10:09 AM |
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