Do I need a Buyers agent?

**Bags30** · 12-19-2008, 06:21 PM

When I bought my first house, I just called the number on the sign and worked through the sellers realtor. I worked out OK but everyone told me how dumb that was.

I am now working with an agent to buy a home and I am utterly unimpressed with the service. I found the home, she let me in. We made an offer but the seller fired thier agent before reviewing the offer. I was told I would have to wait for it to be relisted.

I kept an eye out and used google to find the house the day it was assigned to a new agent - even before it was listed in the MLS. I called my agent, told her how I found it and who the listing agent was and gave her the phone number. For two days she went on how she could not find out who the seller is.

We filled out another contract and since then she has been trying to get me to up my price when I have told her repeatedly what I thought the house is worth.

Why am I paying this person nearly $8000? To let me in one house and highlight where to sign and initial? To try to get me to max out my mortage?

I wounder if I would have been better off just calling the listing agent and working through him. That would give an easy 3% of wiggle room by simply eliminating the buyer agent.

My question is, why should I use a buyers agent?

**Codythebest** · 12-20-2008, 06:12 AM

1) You are not paying $8,000 for a buyer's agent. A buyer's agent is probably the best investment you can make: It's free and the return is huge.

2) Fired your buyer's agent right now. Shop for one. You shop to find the best car at the best price, so why not a buyer's agent?

3) There nothing worst than to think that because your will directly work with the listing agent, you will save 3% right there.

I can see you are not well prepare for this game. Try to find a buyer's agent that will work for you and will save you money...

**Greg** · 12-20-2008, 09:55 AM

I agree. Find an agent who will not drop the ball like this agent and get one who will earn their money. There are lots of them out there.

**First Time Home Buyers** · 12-20-2008, 11:19 AM

You should ABSOLUTELY use a buyer's agent, but maybe not the one you have been working with.

Why should you? Like the others have said, it's not an upfront fee to you. The $8000 commission is paid through the seller, and unless you negotiate with the Listing agent to have that amount taken out of the sale price, then you're going to be giving the listing agent DOUBLE commission. Plus they are not representing you, they represent the seller.

It's a lot like going into a court for trial, and not having a lawyer. Sure, you could do it yourself if you know the laws and practices in your area, but if you know that much, why not be an agent yourself.

Remember, if you find a good agent, they are a professional. They live, breathe, eat, sleep, and learn Real Estate.

Just shop for an agent and ask them as many questions as you can.

Good luck!

**Bags30** · 12-20-2008, 08:28 PM

It sounds unanimous. I need to talk to the broker and get a new agent or get out of my agreement with them.
I disagree with the proposition that the sellers pays for the Realtor. The buyer pays for everything in real estate and everything else. The seller knows they are going to pay a 6% commission and that is built into the price as much as possible to net a gain on the sale.
Our current Realtor likes to remind us of this and tells us to increase our price to make it more attractive to the seller after the commissions.

Thanks for the replies. If our latest counter-offer doesn't hit home, we have already picked the next house and we will get a different agent.

**First Time Home Buyers** · 12-21-2008, 08:13 AM

Well, it's true that the seller pays the commission to the seller's Broker, who in turn pays the buyers Broker.

However, some people see this as "well if I could negotiate myself, and not have a buyer's agent, maybe I could get the seller's Broker to lower the Sale Price by the 3% commission amount a buyer's broker would have taken"

This may be possible, but let's face it, every agent wants to make the most money they can, so if you don't have an agent on your side, you may be open to them taking advantage of you.

What state are you in?? Maybe some one on the Forum could help with your situation. email or Private Message me if that would be helpful.

Hope it works out for you!

**Codythebest** · 12-21-2008, 12:25 PM

Originally Posted by Bags30

It sounds unanimous. I need to talk to the broker and get a new agent or get out of my agreement with them.
I disagree with the proposition that the sellers pays for the Realtor. The buyer pays for everything in real estate and everything else. The seller knows they are going to pay a 6% commission and that is built into the price as much as possible to net a gain on the sale.
Our current Realtor likes to remind us of this and tells us to increase our price to make it more attractive to the seller after the commissions.

Thanks for the replies. If our latest counter-offer doesn't hit home, we have already picked the next house and we will get a different agent.

I agree with you that the buyer pays everything.
However, you will not get a better price by going with the listing agent. (s)he will get 6% anyway, (s)he will just not split with somebody else.
So the purchase price will not change because of that.
BUT...and there is a big BUT...the listing agent could see there more money and still work for a "as close as possible of the asking price" to have the most money. After all, (s)he works for the seller, not for the buyer, making a good job fo rthe seller...
So, odds are higher that the buyer could pay more for a property by going with the listing agent...

**LVrealestateHELP** · 12-21-2008, 10:08 PM

There tends to be a very fine line an agent must walk to complete his duty to both parties. Often a conflict of interest can occur with out you even knowing about it. Get your own agent. Since the sellers pay for the buyer agent commissions you have nothing to lose and everything to gain. Using multiple agents is not a bad idea either as long as you don't sign any exclusive deals with any of the agents. Once you have a good feel for them go with the one you believe will get you the best deal.

**lindabassitt** · 12-28-2008, 12:57 PM

Originally Posted by Codythebest

1) You are not paying $8,000 for a buyer's agent. A buyer's agent is probably the best investment you can make: It's free and the return is huge.

2) Fired your buyer's agent right now. Shop for one. You shop to find the best car at the best price, so why not a buyer's agent?

3) There nothing worst than to think that because your will directly work with the listing agent, you will save 3% right there.

I can see you are not well prepare for this game. Try to find a buyer's agent that will work for you and will save you money...

True. You as a buyer do not pay a dime.

**johnpeter** · 02-19-2009, 10:16 PM

hi,

yup, you need a buyer agent, because he can completed your major work. you dont have to waste your time and they can work fast. but honest person not like that man.