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jerseypanda
Life is good.
Member since 1/07 9164 total posts
Name:
Amanda
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Transactional Brokers
My DH and I stumbled upon the house we want to buy, but didn't have a realtor.
We have found out that the listing agent can work as a "transactional broker", representing both the buyer and the seller.
Just wondering if anyone out there bought a house using one realtor, as opposed to a buyers agent and a sellers agent. We are so new to this and have no idea if we should make the offer through the listing agent or get our own agent!!!!
Confusing!!!
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Posted 3/4/07 8:23 AM  |
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Prudential Douglas Elliman Real Estate
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Jacksmommy
My love muffin!
Member since 1/07 5819 total posts
Name:
Liz
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Re: Transactional Brokers
I thought that if the listing agent shows you the house and you buy it, they get the entire commission, whereas if another REA shows u the house, they have to split it.
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| Posted 3/4/07 8:29 AM |
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jerseypanda
Life is good.
Member since 1/07 9164 total posts
Name:
Amanda
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Re: Transactional Brokers
Posted by ejm1219
I thought that if the listing agent shows you the house and you buy it, they get the entire commission, whereas if another REA shows u the house, they have to split it.
This is completely correct. I guess we were just wondering if anyone had any advice.
Can a listing agent truly have the best interest of BOTH parties in the transaction?
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| Posted 3/4/07 8:32 AM |
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Re: Transactional Brokers
It can work to your advantage. If you bid 500K and use the listing agent and someone else working with their own agent offers 500 your bid would probably be accepted because the agent is not splitting anything. Even though the listing agent is working for the seller they do want to get the deal done. Just be careful not to show all your "cards" to the agent. Get moultiple pre approval letters for different amounts etc.
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| Posted 3/4/07 8:44 AM |
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Eleanor
LIF Adult
Member since 2/06 2223 total posts
Name:
Ellie
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Re: Transactional Brokers
I can't see it being an issue, since even if you had your own broker - they still work for the seller before the buyer. Of course it's in their best interest for the transaction to go through.
I would say talk to the seller's agent and see if you get a good feeling from them - they may even knock the commission down (which could be savings for you) if they do both transactions
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| Posted 3/4/07 9:29 AM |
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