This is the stage im at right now.
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
- Start date
This is the stage im at right now.
al audi
Banned
- Jun 18, 2009
- 29,810
- 4,562
man HOA fees can be such a deal breaker
i remember looking at nice spot not far from my mothers home
900 a month, great location, parking underneath............space
HOA 350....................had to keep it moving
i remember looking at nice spot not far from my mothers home
900 a month, great location, parking underneath............space
HOA 350....................had to keep it moving
To own or rent? I'm just asking because Land Lord is responsible for HOA fees.
- Oct 16, 2015
- 348
- 276
Yo! Quick question. Tryna buy a home for my parents in San Diego. My mom INSISTS on using this agent who's been helping her search for a home for 6 MONTHS. My mom feels horrible she put her through all this trouble so wants her to get her cut. The problem is her listings flat out SUCK. Weeks of waiting for her listings is trumped by 5 minutes of me being on Zillow.
So my question is, do I need her or can I just find a home through Zillow?
So my question is, do I need her or can I just find a home through Zillow?
- Jan 3, 2008
- 8,148
- 104
Green tea is just green tea, if its just green tea. Raaaaaawrrrrrrr!
- Apr 12, 2011
- 4,903
- 1,147
Just call the listing agent on Zillow for the house you want to see. You don't owe these real estate agents anything. If she isn't doing her job to your standards then find someone who will.
- Oct 19, 2004
- 2,358
- 595
^^The listing agent isnt going to be showing the house to everyone who wants to see it, thats what your buyers agent is for. When youre looking to buy a house its normal for you as the buyer to be the one finding the deals/hidden gems/homes you find appealing thru Zillow, MLS, craigslist, etc. If youre just waiting for the realtor to suggest a house to look at, youre doing it wrong. So find the house u want to see off Zillow and your parents' lazy realtor will let you in. I agree its a long/frustrating process. Sometimes its like all theyre good for is to open the door for you, but hopefully thru their experience theyre providing good advice amd guidance on not only the homes/neighborhoods/schools but also throughout the offer process (how much to offer to get the house, over/under asking price, what can be negotiated for)
- May 26, 2003
- 15,003
- 4,269
Pretty much this, while my agent did actively look for homes, i also would find a ton of stuff and send to her so she could do the dirty work so we could view the homes.
- Apr 12, 2011
- 4,903
- 1,147
I like to deal with the listing agent because they are more inclined to work with you to get the deal done because they get paid on both sides. Why should he do most of the work to get his buyers agent paid.
Ive even heard of agents who represent both parties take less of a cut to get a deal done because they know they are making more if they represent both sides vs someone who would come with a buyers agent.
- Oct 19, 2004
- 2,358
- 595
sorry but this is terrible advice. When the listing agent reps the buyer, that is a situation yo avoid, not seek. 1% of the time it will end ok and maybe u had a good experience (or thought you did).
- May 26, 2003
- 15,003
- 4,269
Lol thats seems like straight conflict of interest i would think
- Dec 1, 2011
- 4,323
- 4,705
+1. MLS and Zillow are your best friends when you're trying to find a home.
But, be careful and ask your mom if she signed a contract with the agent in question before completely writing the agent off. The rules and regulations surrounding real estate differ from state to state, but here in MN it's pretty standard for a potential homebuyer and a real estate agent to enter a 6 month contract wherein the homebuyer is expected to complete any deals with that specific agent. Even if you were to find a better agent who did all of the work in making a deal happen, if your mom signed a contract, that first agent is entitled to a cut of the final purchase price.
First Step: Make sure your mom didn't sign any contracts with the first agent.
Second Step: Find a new agent.
Deals where the agent represents both buyer and seller are not the norm, I thought it usually happened when the buyer and seller have known each other and the agent is more of a formality. I would NOT actively look for that scenario. The agent and the seller are trying to sell the home for the largest possible sum, wherein you as the buyer are trying to do the exact opposite. High potential for finessing.
But, be careful and ask your mom if she signed a contract with the agent in question before completely writing the agent off. The rules and regulations surrounding real estate differ from state to state, but here in MN it's pretty standard for a potential homebuyer and a real estate agent to enter a 6 month contract wherein the homebuyer is expected to complete any deals with that specific agent. Even if you were to find a better agent who did all of the work in making a deal happen, if your mom signed a contract, that first agent is entitled to a cut of the final purchase price.
First Step: Make sure your mom didn't sign any contracts with the first agent.
Second Step: Find a new agent.
Deals where the agent represents both buyer and seller are not the norm, I thought it usually happened when the buyer and seller have known each other and the agent is more of a formality. I would NOT actively look for that scenario. The agent and the seller are trying to sell the home for the largest possible sum, wherein you as the buyer are trying to do the exact opposite. High potential for finessing.
Last edited:
- Jul 18, 2012
- 20,396
- 14,184
Aren't there rules against this (as far as the listing agent repping the buyer)?
- Dec 1, 2011
- 4,323
- 4,705
I'm pretty sure it varies state to state. Here in MN, the listing agent would have to disclose their dual representation and have both the buyer and seller sign a disclosure notice stating that they recognize the potential conflict of interest. Outside of the disclosure, there aren't any rules against it.
Last edited:
- Apr 12, 2011
- 4,903
- 1,147
Do you guys think any agent has your best interest at heart? They are trying to make money that's their job. Its your job as the buyer to make sure you are making an informed purchase.
In the current situation he is not happy with his buyers agent and he has made that known. Why would he continue to work with someone when he is not happy with their performance? Why should this person get paid when they haven't been performing for 6 months as he said.
My situation shouldn't matter but we contacted three agents when looking.
The first was an agent my mother used to work with and she like his agent kept insisting on showing us things she though would be good for us and not what we were looking for. (different neighborhoods, too much money, horrible buildings etc)
The second was lost and really shouldnt have been an agent. She couldn't unlock the lock box for the keys, didnt know anything about the building when we asked, and forgot the MLS listing at home. The last one is minor but details are important to me and she couldn't provide me with the answers i was looking for.
The realtor I ended up using we called because she was the listing agent. Once we got there she told us that she was actually the primary agent who works in the complex because EVERYONE knew her. She showed us 3 units (2 of hers and 1 other) and then helped us measuring the pros and cons of the three.
Once we were ready to put in an offer someone already beat us to it (we took long) so she told us she would help us to continue looking. The next day she called us and told us that someone contacted her about listing a unit and she would allow us to see it before anyone else. We saw the unit and she told us to make an offer about 8% lower than what the person was asking. They came back with an offer about 1.5% lower so we countered with 5% and they accepted. This was a lower price than other comps in the complex.
This was a very isolated occasion so im not saying anyone can make this happen but what I am saying is dont waist your time with people who arnt doing their job and don't frown upon dealing with a listing agent because if you like them they can also be your buyers agent on something else.
Agents with the most listings in my experience work harder and are better assets then the person that will drive you around for 6 months showing you a bunch of other peoples stuff.
- May 6, 2014
- 6,550
- 1,131
whats the cost of living in the bay area for a decent home.. I know the apartments are crazy priced..
- Apr 12, 2011
- 4,903
- 1,147
Correct you sign a disclosure
But people forget the buyers agent gets paid more if you spend more also so they dont really care. They want to get the deal done so they are not going to let you walk away from the deal but they dont care if you overpay
- Apr 12, 2011
- 4,903
- 1,147
Great advice i overlooked the fact that she might have signed a contract
- Nov 6, 2012
- 4,758
- 1,409
Looking around the same area (Fairfax) its a rough place out here man...live outside of DC but paying DC prices..
[/quote]
The metro stretches far, and NoVa is overpriced imo.
The metro stretches far, and NoVa is overpriced imo.
- Jul 18, 2012
- 20,396
- 14,184
Yes...if you're dealing with good ones. I've had nothing but great experiences with the agents I've bought and sold with. You have to remember...they are working for you. If you don't get a good vibe off the bat, or if things aren't going the way you want, cut ties.
- Apr 12, 2011
- 4,903
- 1,147
Exactly why he should get a different realtor
- Jul 18, 2012
- 20,396
- 14,184
Yeah...when large sums of money are involved, no need to drag things out.
- Nov 16, 2001
- 3,949
- 1,197
What do you mean by "her listings". Agents in San Diego should have the ability to set your mom up on an MLS search that will send her any new listings that hit the market up to 3x/day. If she's not getting those, then she has a bad agent. Also, 6 months? Yes, inventory has been pretty low lately, but most agents should have a heart-to-heart by that point to see whether the buyer needs to reset their criteria.
Chances of finding a home on Zillow are lower than searching the MLS. Zillow only updated their system every 24-72 hours, so chances are if a home hits the market or has a price adjustment by the time it's on Zillow the top agents are already on top of it for their clients. It's an industry joke how many outdated listings are on there. Plus, several MLSs have opted out of automatic syndication to Zillow & Trulia so only brokers that have reached a syndication agreement with them will have up to date information.
Dealing with the listing agent is like going to court asking the opposing counsel's attorney to represent you. Yes, they may get the deal done, but their ultimate fiduciary duty is to the seller. If something happens, the seller WILL come first.
- Feb 6, 2010
- 6,243
- 1,967
As far as what? 2 bed 2 bath going for 350-400k in not so great areas. Detached homes 750 plus and not exactly on big pieces of land
- Oct 16, 2015
- 348
- 276
Thank you guys so much for your advice! Talking to my moms.
Side note, homes in Cali (SF , LA , SD) make me cry at the price VS same amount of money spent elsewhere in the country.
Side note, homes in Cali (SF , LA , SD) make me cry at the price VS same amount of money spent elsewhere in the country.
