Realtors want to sell real estate period. Commissions are generally split between the listing & selling realtors. It all gets paid by the seller. Neither realtor makes a dime if they don't move properties. Now do the math & see if your realtor is really on your side.

 

Agreed.

But point is if I'm supposed to have a realtor representing me as a buyer how do I get one???

 

Go to a realtor's office. They'll be extremely happy to have you. Just like any business person wants customers.

Check out Redfin though. www.redfin.com
They have hthe best real estate website IMO and give back are a discount brokerage. They give you part of their commission.

 

Who showed you the property? If it is the listing realtor, he/she would be entitled to the entire commission. In the past sometimes they would reduce their commission to get a deal done. I personally wouldn't worry about having a realtor represent me. I'd spend that money on an engineer to look over the house & a good attorney.

 

There is no such thing. Any realtor is going to represent the interest of the seller because they want to make as much commission as possible on every sale.
I mean you can walk into any real estate office tell them you need a realtor and give them your maximum budget and don't offer a penny more. That way the realtor will fight to meet your price because they know you won't go any higher.

 

Honestly, they are all full of manure. As was said before, realtors only make money if they get you to buy the house. So who's side are they really on? Educate yourself and act as you own buying agent. You don't need a realtor in your side. Remember, you have the upper hand when buying a house. You need a house, not necessarily the house they are selling. Also, don't forget, it never hurts to low ball. Worst they can say is no.

 

The responses are kinda funny in that when I've asked before about buying property everyone said be sure to have my own realtor to represent me.

Back on point....I look for my own property interests via online listings and if I see one in the past I contact the listing reator (the one on the listing I saw) about it. Obviously that person repersents the seller.

 

Ask your friends and family. I'm sure someone has someone they liked dealing with. Give that person mls numbers and let them come up with properties to see.

I think you're right. You need to have someone on your side.

 

My friend is a certified buyers representative. She's an extremely hard worker and will do the right thing for you

PM me for my info. when you call her mention me,

http://www.leahrealestateli.com/

 

I had an an advantage by using no buying agent. Because the selling agent didnt have to split the commission (paid by seller) she actually took less than full (but more than if she had to split it) to make our offer work.

 

Unless you've got some sort of deal where you kinda own the broker. Where you are intentionally overpaying them, I can't see how they would have any allegiance to you. As a buyer you are not providing them with the listing. They have this house to sell. If you don't buy it they figure someone else will.

 

Hire an attorney and a home inspector save the rest of your cash, there is a barrel, on the bottom of the barrel is the ****, under the **** is where the realtors live. Realtors in Long Beach showed no mercy when displaced homeowners were looking for apartments to hold them over until FEMA screwed them out of thier last buck. The realtors on Long Beach screwed over a whole lot of desperate people after Sandy. Now thet figured out a way for two realtors to suck you even dryer by having two agents on a deal, screw them. We paid full boat commission for a six month studio rental that was a crap hole, the realtor acted like he was doing us a favor by snatching the landlords ad off Craiglist, $1400 for a half hours work, screw them.

 

You will be in a much better position to negotiate if you have a buyers agent. There are also things that your buyers agent can find out to help you negotiate your best offer. If you are being sold the home by the listing agent or another agent representing the seller than you are not privy to this information. Go ahead, ask me how I know these things. Ask family and friends that have had a positive experience with a agent and speak to them.

 

I do not believe you need a realtor to represent you. If you have a realtor and ask them to find you a property then I guess they would be working for you? realtors generally want to move property by presenting and showing property.

 

My, my, my....there's an awful lot of cynicism on this board, especially when it comes to realtors.

The "seller's" agent is lawfully bound to get the best deal possible (most cash) for the seller. They are not required to tell you anything that will lower the price, help you get a better deal, or make it easier for you. Their goal is to sell at highest price possible.

Buyer's agent works for you. Sure, they want to sell a house, but they are legally bound to do all they can to get you the best deal possible. If they are good they can find stuff out you cant and the seller's agent won't tell you.

Word of mouth is best bet. Talk to everyone and everyone's cousin and find an agent who knows the area and gets a good recommendation. Not every agent is a scum-sucking bottom crawler....but you have to do your homework and learn about buying a house or renting an apartment so you don't get taken.

 

Buyer's agent works for you. Sure, they want to sell a house, but they are legally bound to do all they can to get you the best deal possible. I think I just threw up in my mouth a little. If they are good they can find stuff out you cant and the seller's agent won't tell you. Care to give any examples of what they can do for you that a you can't do yourself?

 

Www.mlsli.com is a good start.

 

As a buyer, get your own realtor, not the listing agent, especially if you plan to be a shrewd negotiator.

 

Duh! That's what I'm asking about!

 

So I just call or go to a realto and say "I have this listing here at someother agency and I want you to get me into to see it"?

 

If the listing is MLS ( Multiple Listing Service) you can do just that.
I would go and say what I was looking for and where and see what they have to show you and tell them if you have a place in mind.
However, once again, I'll tell you to check out redfin.
You can search for homes in your criteria, if there's a home listed in MLS you'll see it and you can make an appointment online to see it with a redfin realtor.
What they do is show you homes you want to see and advise you on what they think of them etc. They represent you but they don't annoy you.

Now lets say it isn't MLS and is being offered exclusively by Coldwall Bankers for example. Go to a Coldwall bankers office tell them you're in the market for a house they'll assign you a realtor and even though you at the same agency you'll have a reltor that's "working for you" as much as that's possible anyway

 

there is a few problems with both one a realtor care about commission a buyer or selling they don't care about you, they basically don't know that much about houses frame work boilers ac units .... thats why they need a home inspection that is where you get your own don't use anybody that the realtor wants you to they just want commission. some buyer realtors will only try to show houses under there listing to double there commish. if your not lazy and no a little about houses do most of the leg work and tell them what houses you like then get your own inspector and mortgage company. also put what ever starting price you like don't be talked into what they want...

 

FYI - Use listingbook! Great website. It used to be better, but they made changes and it's a bit different now, but still good and I found better than MLSLI.

All honesty, you're going to have to do your own homework. Don't leave it to anyone but yourself but also grab a buyers agent through a referral. To my recollection, you shouldn't have to pay them as they will get a piece of the action on the sale of whatever house you buy.

Home Inspections - biggest waste of $500 out there. Banks usually require them, but do yourself a favor and find your own. Don't let any broker make you use their guy...again, he won't be looking out for your best interest.

 

I would go to the nearest realtors office that's in the area where I wanted to own a home. They will be knowledgeable about the area and past sales.
I would have done my homework and have a price point. You will always be in control if you know what you want and how much your willing to spend.
You will know in short time if you have a good realtor or not. Some realtors will ask you sign an agreement with them for a certain amount of time. These can be negotiated. They key in buying property is to know what you want, the area and the budget.

 

I have to laugh at a lot of the information you are getting here. You are getting a lot of half truth and misinformation from people who are not in the industry. Just like any industry there are good and bad. Have you ever seen a bad mechanic or bad contractor? Someone you say to yourself Geez, that guy shouldn't be in this business. It's the same in the business of real estate. I don't need your business but would be happy to clarify any direct questions you have.

 

He already asked the question! Geez!

 

If you need to find a buyers agent.

Start here: http://naeba.org/find-buyer-agent

You still need to do your due diligence. There are good and bad buyers agents just like sellers agents.
They represent you. Their job is to get YOU the lowest price.
The seller's agent while being very nice to you, is responsible to get the most for the seller.
Start by interviewing them and getting a feel for how your personalities mesh.
Who pays them is negotiable. An exclusive agent will want to be the only one that completes the deal for you.
Just like with a seller's realtor you negotiate a commission. The seller pays a commission to the sellers agent.
When/if the seller's listing agent sells the house, he/she gets the whole commission.
If another agent sells the house, a predetermined amount is split between them.
With a buyers agent, if this amount is less than the amount that you negotiated with him/her, you make up the difference.

Unless you really don't have it in you to negotiate, you don't need a buyers broker.
Now my .02:
1. Set your budget, but be flexible, get pre-approved - an additional 25K isn't much more a month
2. Do your own leg work - Zillow (dot com)
3. Check out the neighborhood online - City-Data (dot com)
4. When looking at houses, try to find (casually) the sellers urgency or reason for selling (to be used later when making an offer)
4. Once you're serious and found a house - get an engineers report, and hire an appraiser.
*It will cost you around $500 or so, but could save you 1000's or stop you from a big mistake
*engineers report - should find major hidden damage and what needs repair
*appraisers report - will give you a legal value of the house, not what the seller or realor thinks it's worth
*also an appraiser can give a future value, in a declining market, you can use this to bargain the price down further
5. Use what you've learned and make an honest offer.