Thread: What will a real estate agent do for me?

In most cases, the agent is paid at closing and the money comes from the purchase amount, so depending on how you look at it, either the buyer or seller pay for it.

I have heard some agents have started charging a retainer fee to offset the costs of tire kickers and people using them and then dropping them after weeks of driving them around, pulling comps, etc etc.

The benefits of using a REALTOR instead of just an agent MUST be emphasized. Please make sure you use a highly recommended REALTOR since they really have the best knowledge of your local market and the tools to make your search & purchase a smooth and cost effective business transaction. Plus the code of ethics we swear to will ensure your best interests are looked out for.

I am covered up and should be doing something else right now but had to respond so I could warn you there is a difference between an agent and a REALTOR. I am sure some of the other members will hit upon all the benefits of using a REALTOR.

thank you, very useful info.

If you're looking for wholesale deals I would suggest getting in touch with a local real estate investing club. To be perfectly honest the best deals aren't typically found with real estate agents. You're more likely to find good deals by networking with full time real estate investors and wholesalers. Just keep in mind that investors that aren't licensed will have their best interest in mind; not yours so always perform your own due dilligence.

Full Disclosure: I am a licensed real estate agent and investor.

Originally Posted by ianpalmer

I'm convinced I need to get a real estate agent to help me find a home. My question is, what and when do I have to pay them if they are helping me find a foreclosed home and doing all the paper work to get it into my name.

Nothing and never.

Originally Posted by ianpalmer

I'm convinced I need to get a real estate agent to help me find a home. My question is, what and when do I have to pay them if they are helping me find a foreclosed home and doing all the paper work to get it into my name.

Typically, the buyer pays nothing to a Realtor. We get paid at closing from the seller's Realtor. It is definitely beneficial for you to have your own Realtor working for you.

Let me know if you would like a referred Realtor to help you. I can refer someone to you in your area. I have many contacts around the country that I do referral business with. This will benefit you because they will work harder knowing that I will continue to refer them business if they do a great job.

[FONT=Times New Roman][SIZE=3]The seller almost always pays the commission. The only way a buyers agent gets paid is upon a successful closing. Typically, a seller will have an agent involved in helping them negotiate the sale price of their home. This is why you need a buyer

[size=2]TPL is the best! Keep up the great work!

I too have been looking to buy an apartment and have met quite a few agents. But somehow I got the feeling that these agents were more interested in making more commission rather than thinking about my requirements. You should be very careful when you are dealing with agents or brokers.

Originally Posted by shanelee

I too have been looking to buy an apartment and have met quite a few agents. But somehow I got the feeling that these agents were more interested in making more commission rather than thinking about my requirements. You should be very careful when you are dealing with agents or brokers.

Of course you should. Personally, I have a hard time to find a honest mechanic, because I know nothing in mechanics, they feel it and charge me whatever they want. So, shop around for an agent, ask the good questions "are you willing to work for me or for your wallet?", "will you show me 5-6 properties around $30,000 making your commission a couple of hundreds?", etc....You'll see how react the faces...