Question for you guys. I know it's advisable to have your own realtor when it comes to making a purchase. I'm looking at purchasing a piece of raw property where I am comfortable in the selling price and what I want in the contract. Listing agent has offered to knock a percentage off to represent both. I have already scheduled two viewings with her and done my due diligence regarding utilities, the County, floodplain, etc. If the seller is willing to split the cost savings of the reduced percentage from the realtor, is there any real disadvantage to using the same realtor on what seems to be a rather easy deal?
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I listed my previous home with a realtor and purchased my new home using the same. I couldnt have asked for a better situation overall. Any question I had about the selling or purchase, I was able to make 1 call instead of 2 or 3. Both transactions were seamless and I was absolutely satisfied with using 1 realtor instead of 2... plus we saved 2% on the totality of the transaction. -
Great question... In for answers.Comment
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No issues when I did it. In fact, I am in the process of buying a house and used the sellers agent for the transaction to get the best deal.Comment
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That Realtor will in effect not be representing either party. They will need to perform as an intermediary. It’s quite different.Comment
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I've done it twice and no issues on either transaction. I think you'll be fine OP.Comment
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I don't think this is what the OP is referencing.Originally posted by hully1029 View Post
He is wondering if its advisable to use the listing agent of the property he is interested in as his buying agent.
Most people don't do this because as a buyer you don't pay the real estate commissions and you want someone representing you that only has vested interest in you and not the seller. However, it sounds like in this case the buyer has done his due diligence and is comfortable with the price. I don't see any issue to it if you are comfortable with it and the agent has agreed to cut some commission to represent both parties and save you some money.Comment
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Why have a Realtor? Go to the title company and they will do all the work for both parties.Comment
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Not a question for me. It's already listed by the seller.Originally posted by 7sdad View Post
Thanks for all the comments folks. Just wanted to make sure I wasn't missing anything.Comment
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I misread it sorry, I'd get my own that would be working on my side.Originally posted by solocam_aggie View PostComment
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We have worked with a specific realtor in our res business since '98. He gets 2.5% from us as the sellers agent (discounted from 3% because we provide multiple listings).
He gets 5% at closing if he brings us a buyer he also represents.
And then there's the probability of another 3-6% he earns on the sale of the Buyer's previous house.Comment
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if you're happy with the sales price number and you are getting the concessions you want then it doesn't matter. the agent may assign another agent in their office on your part of the contract. you may have to sign something saying that both parties are represented by same agent. it happens often. different agents handle it differently. if you have concerns, have a real estate lawyer look over it.Comment
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Yep, Chance is correct. In the off chance something goes awry, it can get messy very fast. My brokerage doesn’t like doing deals that way but they will if that is the only way to make it happen. Right now in this market, I would recommend having my own agent because people are so hard to trust right now. Greed has become so overwhelming present in so many transactions. Best of luck OPOriginally posted by Chance Love View Post
PM of you need anything or have any more questionsComment
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