Finding a Buyer's Agent
kats_meow
6 years ago
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C Marlin
6 years agochispa
6 years agoRelated Discussions
buyers agent only versus regular agent?
Comments (13)Real Estate Agents are licensed by the state and follow state laws and regulations. Realtors have taken a step further and joined the NAR (at the local, state and national levels) and are bound by their stricter rules and the Code of Ethics. Most Realtors also join their local MLS and sometimes more than one. I don't believe you can join MLS without being a Realtor, but you can be a Realtor without joining MLS. In my experience, the 2nd-hand websites are not as up-to-date or accurate as MLS. I know some agents put their buyers on auto-notification but I always screen the notices so that incurs a delay, but it's the service I provide my buyers. I forward along maybe 1/4 of the notices because the searches will send along a lot of junk. For example right now, a buyer I'm working with would keep getting notices about a particular home that is a disaster because the listing agent is dropping the price or making a change to the listing every few days so that it keeps popping up on my notifications, but I know my buyers are NOT interested, so I screen it out for them. As far as access to MLS, as far as my local one goes, I have a lot more search and screen capability (with the exception of being able to exclude specific properties, unfortunately!) than any of the online sites, especially in the mapping which I have to use all too often to encapsulate certain neighborhoods. The closest, most accurate one available of course, is Realtor.com, because that is directly sourced from MLS. I don't know the specifics, but I think Redfin and Trulia and Zillow all data-mine their "listings" and that's why there are numerous inaccuracies. I am often, all too often, looking up properties that my buyers find on Zillow or Craigslist and have to tell them that it has been off the market for weeks or sold or a scam (in the case of CL) and basically, there is a legitimate reason I didn't show you that house! This stuff is all over my head, but I know there are rumors of NAR going into cooperation with these other websites, which will change the game. As far as low inventory - that is my neighborhood exactly. The home that I found for my buyers was a walk-by - knew they had it listed years ago, and FSBO after that, so I was walking by last week and saw them out front and asked it they were still thinking about moving and...we should be under contract tonight if all goes well. This is after I've already contacted the major agents who farm this neighborhood to see if they had any pocket listings (meaning a listing coming up, or someone thinking about selling but hasn't committed, basically pre-MLS). This is what an aggressive buyers' agent can do for you. All the major agents who farm here have been sending out letters in the last few months stating that they have buyers looking for homes, so much that the last listing went under contract the same day the sign went up. You'll have to see the threads that have been posted about approaching people, writing letters and postcards, etc and maybe try that if you can't find a buyers' agent to work aggressively for you....See MoreHow to find a buyers agent when you don't live nearby?
Comments (3)I like to test-drive realtors. I've emailed a number of them through realtor.com and only 2 responded quickly (others were a couple days later, a week later by someone who was in the office that didn't answer my specific question, or never). I asked each of those 2 to show me a house they had listed and one that was listed by someone else, and then I pumped them for info on pricing, comps, etc. while we were together. One answered my questions better, provided me data to back up his "gut feel", etc. You're remote, so you can't do this in person, but I would think you could do some of this by phone. I'd narrow down your choices by looking at their listings online, or getting the office to send you a list ranking buy-side agents and choosing a couple top ones. When you call, explain a bit about your situation, tell them you're shopping for a buyer's agent, and here are the 5 properties you're considering. Assuming they're in different neighborhoods, ask their opinion of value of the different neighbohoods, and if they know the specific properties. Ask them to send you the comps they'd use to value those properties. Then see who's the most open and helpful and responsive and knowledgeable. It helps that you know the area and can judge their answers based on that. Look at the comps they send you and, if they gave you different ones, evaluate who was more complete/accurate with picking comps. And see if the comps justify the pricing they were telling you. It should be no problem to see 5 houses in one day, as long as they've got a few days to line them up. When we were househunting we hit 15+ in a day....See MoreSo what is the deal if your agent finds a buyer
Comments (36)Hoo boy, are we going to start up this debate again? :-) First of all, note that my response above was to Sylvia's assertion that seller's agents work extra hard when they play dual agent because of all the paperwork. To that, I say "poppycock." That said, I'll answer NC's question. I intend to post a retrospective thread, after we close, on the whole experience and learnings. BTW, we weren't on the market for 2 years, we went under contract ~8 months after listing with a realtor, ~14 months after we listed FSBO. With the 4 month closing period (buyer's request), that's a total of 18 months from first FSBO list to cash in the bank. What our agents brought to the table that we couldn't do ourselves: -Listing in the MLS (no flat fee available here). -Access to MLS data in a way it could be analyzed and used more than I could get from county property records and realtor.com. Things like which realtors had clients looking in our price range. Or watching a buyer's agent's sales to see if the buyer that looked at our house had bought something yet. -Networking with other realtors, which provided us better feedback from showings than we got FSBOing. Our agents could follow up again with the agent later when they saw them, to see if the buyer had bought something else, etc. They also typically got more info about the buyers from their agents than we would have gotten. What they didn't do better than us: photos, website, write-ups. And it was a bit frustrating/slow at times in the process because we had 2 middlemen passing messages back and forth without adding value. And keep in mind, I don't think realtors add no value. I just think they're overpriced. The local cartels they form keep the prices up. And I abhor markets that are economically inefficient. Education and health care are 2 other examples that rankle, but I'll find more appropriate forums to whine about those. :-)...See MoreCan I get my "unclaimed property" back?
Comments (9)If they escheated it to the state as unclaimed property, they have identified it with your social security number and old address. you won't need the old checks. They just need to identify you. If you have current ID, they should be able to pull a credit report and determine it is you. Contact the website and they will tell you what you need to present....See Morekats_meow
6 years agoC Marlin
6 years agochispa
6 years agolast modified: 6 years agoschnoodlemom
6 years ago
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