Buyer's Agent?

[Coach]

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Has anyone actually used a buyer's agent? Just starting to think about buying, read the mortgage thread above and didn't see anyone mention anything about them. Appreciate any input.

 

[Poety]

Has anyone actually used a buyer's agent? Just starting to think about buying, read the mortgage thread above and didn't see anyone mention anything about them. Appreciate any input.

Yes, they're great if they're good and know what you're looking for. It takes out all the hassle of finding the realtor for each property you're interested in, they can prescreen them etc.

And, the seller pays the fee - so its free for you.

but never, NEVER sign anything for buying - its unnecessary and it should be more of an understanding - if htye want you to sign anything, run.

 

[Museless]

Actually, I thought exclusivity contracts for short periods of time (30 days, with option to renew) were common, even standard for buyers' agents?

If you choose not to use one, just remember who the sellers' agent works for, and consider adding a real estate attorney to your team so that someone is watching your back as you plunk down a couple hundred grand.

 

[Poety]

Actually, I thought exclusivity contracts for short periods of time (30 days, with option to renew) were common, even standard for buyers' agents?

If you choose not to use one, just remember who the sellers' agent works for, and consider adding a real estate attorney to your team so that someone is watching your back as you plunk down a couple hundred grand.

I have never signed for buying (4 total) and only for selling - and for the selling I use short term contracts since I've only sold in hot markets where the houses should go quickly anyway. Whenever I buy, I just pick who I like the most and I interview different realtors until I find one I like (not the same ones since all in different states) I think by signing you're risking a slack job - but then again, I'm needy when I purchase so I need to reserve the right to get someone else if they're not meeting my needs

 

[penguins]

From what I have heard, you shouldn't sign something as a buyer saying you will use them exclusively. However... it doesn't neccesarily mean they are going to slack off, etc. It may indicate that they are very busy and don't want to spend time on you when you aren't a serious buyer. Sometimes the signing is done to protect them to ensure that you are serious and aren't just someone who is looking Sunday after church for something to do.
Or, just that they are busy enough to be picky about who they take and by signing, it ensures that in the end they will get some money.