Questions regarding real estate agents. (kinda long)

I am in a tricky situation b/c some family members are real estate agents. But, for various reasons, I do not want to use them to help us find a house. They will not understand this, and it will probably end my relationship with them, but I will save this story for the relationship board

So I need to kinda find a house on my own. I am using MLS, and I am also on listbook with an agent (I haven't quite figured out how it works yet).

Now my questions are as follows:

1) If I find a house from MLS, meaning I contacted the realtor directly, do I still need to get my own "buyers" real estate agent? I was told that you must have your own buyer agent.

2) If I don't need a buyers real estate agent, how do I go about buying the house without getting $$$crewed?

3) Should I just get a buyers real estate agent to make things easier for myself? If so, can anyone recommend someone in the east northport/commack area?

I think thats it for now. Sorry so long. TIA

Message edited 1/27/2009 1:03:12 PM.

Re: Questions regarding real estate agents. (kinda long)

When I bought my house, I didn't have a buyers real estate agent. I went on MLS and contacted the agents directly. I never was told that I needed my own, but I was told that the agent reprsented the seller and their interests, not mine. I didn't want to go with a buyers RE agent b/c I felt like they would looking out more for the seller too b/c the home price would effect their commission.

In regards to not getting stiffed on thehouse, you should have an inspection of the house and a real estate attorney who should look out for you. You may have to doa little more homework on the neighborhood, comp homes, etc. b/c you don't have an agent of your own.

As far as your family that are RE's, if anything is said, you can very politely and respectfully thank them for their generous offers, but that sometimes personal business, esp. financial, is left better to strangers than to family, no ones feeling will ever get hurt.

Good luck in your search!

Re: Questions regarding real estate agents. (kinda long)

Just tell the family members you would prefer to use an agent specializing in the area you want to buy in.

I made the mistake of hiring a "friend lawyer" to do my first RE transaction.

Never again will I hire family to do anything business related.

Re: Questions regarding real estate agents. (kinda long)

1) If I find a house from MLS, meaning I contacted the realtor directly, do I still need to get my own "buyers" real estate agent? I was told that you must have your own buyer agent.

No you don't need to have a buyers agent to buy a house. A buyers agent can sometimes make things easier by showing you multiple houses at one time. But in the end if you find a house they ultimately are working for the seller as well and spliting the commision with the listing agent.

2) If I don't need a buyers real estate agent, how do I go about buying the house without getting $$$crewed?

I feel as long as you have a good lawyer and home inspector you won't get screwed just remember the job of all real estate agents is to get the most $$$ for the home so don't feel you can't negotiate.

Re: Questions regarding real estate agents. (kinda long)

I agree with the PP about family and finances - i would even say that your lawyer recommended that you didn't use family.

1. There are pros and cons using a buyers agent. A BA will look out for you (if you sign with them). If you don't use them, you have a bit more negotiating room with a seller's agent if they will lower their commission (since they will get 2 commissions) - but that's not a definite

2. our lawyer was great - we still say, we only needed him through the whole process and he made a lot less than the REA in the deal!

3. drive around the neighborhood you like and look at the signs - try meeting the agents that have multiple listings in the neighborhood and see who you like.

Re: Questions regarding real estate agents. (kinda long)

We didn't use a buyers agent, but we didn't have anything to sell and weren't in a hurry to buy. I just kept checking MLS and we kept going to open houses. It worked for us because we just wanted to go see houses if and when we felt like it, not necessarily have an agent booking appointments for us. If we hadn't seen the house we bought when we did, however, we were talking about using a buyer's agent because we had a baby and had to decide on signing a new lease, so timing became more of an issue.

I will say that the few times I did contact RE agents directly about listings I had seen online (not going through the open house route), they seemed much more focused on signing me on as a client than showing me that particular house. In one case, I called about a particular house and the agent said she would have to get back to me. She called me back with appointments for 2 or 3 other houses to go look at and NOT the one I inquired about. Having a buyer's agent would eliminate that kind of headache.

Re: Questions regarding real estate agents. (kinda long)

on a side note: your looking to buy in east northport??

looks like we will be selling our house within the next month in east northport
430,000 to the 450,000 range, you can just buy privately and not worry about the real estate agents

Re: Questions regarding real estate agents. (kinda long)

Posted by ThreeCats

on a side note: your looking to buy in east northport??

looks like we will be selling our house within the next month in east northport
430,000 to the 450,000 range, you can just buy privately and not worry about the real estate agents