You must first be logged in to edit a post.
If you are not registered, please click "Create Account".
| Posted By |
Message |
kimNanthony
LIF Infant
Member since 3/09 301 total posts
Name:
Kim
|
Buyers Agent
We are working with a real estate agent (who we love) and we found a house we want to look into. The agent said she wants us to sign something saying she will work as our agent so she can represent us and find out more about the house and mortgage (its a short sale).
Does anybody have experience with this?
Message edited 5/7/2009 10:45:49 AM.
|
Posted 5/7/09 10:45 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
|
Re: Buyers Agent
every REA you talk to will ask you to sign this.....it kind of means that you are using them and only them - basically you can't dump them to use another agent or real estate agency 
i'm not sure what would happen if you wanted to do a FSBO - you may not be able to look at those once you've gone with a REA....
basically it means you'll be exclusive and stick with your agent - you cant buy a house through anyone else, they can find out (its public info when you buy a house) and i think you can get in trouble?
|
| Posted 5/7/09 10:54 AM |
| |
|
kimNanthony
LIF Infant
Member since 3/09 301 total posts
Name:
Kim
|
Re: Buyers Agent
Posted by Nik211
every REA you talk to will ask you to sign this.....it kind of means that you are using them and only them - basically you can't dump them to use another agent or real estate agency
i'm not sure what would happen if you wanted to do a FSBO - you may not be able to look at those once you've gone with a REA....
basically it means you'll be exclusive and stick with your agent - you cant buy a house through anyone else, they can find out (its public info when you buy a house) and i think you can get in trouble?
She is just asking us to sign one for this specific house we are interested in.
|
| Posted 5/7/09 10:57 AM |
| |
|
OStewarts
LIF Adult
Member since 11/07 1096 total posts
Name:
|
Re: Buyers Agent
I have signed those on certain house that were listed as "exclusive" with other agencies and other REAs. I have no idea if its the same reasoning behind it when its a short sale.
|
| Posted 5/7/09 11:27 AM |
| |
|
queensgal
Smile
Member since 4/09 3287 total posts
Name:
|
Re: Buyers Agent
the person selling pays the buyers agent.
So there should be no cost to you. Might as well enjoy the services.
|
| Posted 5/9/09 12:10 PM |
| |
|
rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
|
Re: Buyers Agent
Posted by queensgal
the person selling pays the buyers agent.
So there should be no cost to you. Might as well enjoy the services.
Not so true... if the seller signs a contract to pay out 2%, while the buyers sell with agent for 2.5%, seller is not obligated to pay the .5% difference. however, the buyer is.
i suggest not signing with one. more room for negotiation...
but i don't think that this is what OP was referring to...
|
| Posted 5/9/09 1:04 PM |
| |
|
BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
|
Re: Buyers Agent
don't do it...
this pretty much is making sure she gets a commission. if the house your buying doesn't offer x% to the field, you would have to come up with the difference.
on a technicality, we got out of ours because he sold our place and behind the scenes, he was a double agent as he represented the buyer...
there is so much out there that you don't need to make sure "x" person is getting paid.
|
| Posted 5/9/09 1:07 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Buyers Agent
if you love her and the terms are fair as far as comission - I don't see why you wouldn't sign
I would rather have 1 person in my corner- who represents ME- not the seller- that's worth more to me to a few thousand $$$
|
| Posted 5/9/09 5:46 PM |
| |
|
MrsD06
LIF Toddler
Member since 9/07 478 total posts
Name:
|
Re: Buyers Agent
Posted by Beth
if you love her and the terms are fair as far as comission - I don't see why you wouldn't sign
I would rather have 1 person in my corner- who represents ME- not the seller- that's worth more to me to a few thousand $$$
We were not asked to sign anything when working with our buyers agent.
|
| Posted 5/10/09 12:26 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Buyers Agent
Posted by MrsD06
Posted by Beth
if you love her and the terms are fair as far as comission - I don't see why you wouldn't sign
I would rather have 1 person in my corner- who represents ME- not the seller- that's worth more to me to a few thousand $$$
We were not asked to sign anything when working with our buyers agent.
you should have been...lesson 3 REA class
a buyer's agent should obtain the buyer's signed acknowledgment before entering an agreement to represent the buyer
|
| Posted 5/10/09 1:28 PM |
| |
|
MrsD06
LIF Toddler
Member since 9/07 478 total posts
Name:
|
Re: Buyers Agent
we never bought a house/made an offer
Message edited 5/10/2009 4:09:05 PM.
|
| Posted 5/10/09 4:08 PM |
| |
|
