Brokers Useful when Buying?
I’ve been relying heavily on the internet in the search for an apartment to buy. This summer seems to have been very slow for new inventory. I’m wondering, am I missing anything by simply relying on Trulia, NYT, etc? Are there some apartments that don’t get listed because they are snatched up so quickly? I…
I’ve been relying heavily on the internet in the search for an apartment to buy. This summer seems to have been very slow for new inventory. I’m wondering, am I missing anything by simply relying on Trulia, NYT, etc? Are there some apartments that don’t get listed because they are snatched up so quickly? I know that happens with rentals, but with sales I figure it’s always listed in case the original deal falls through. I’ve never had a broker show me anything I haven’t already seen in person or on the internet. Has the internet rendered them obsolete? The only thing they add is showing me places that are not in the location I want to live.
Hello,
If you want find homes or apartments for rent let me suggest you to pick up a
location first.I have purchased a condominium a few years ago and have recently
discovered that we have been charged the same condo fees and assessments as
owners having larger square footage units. When we brought this to the Board’s
attention, they stated that we have been paying it all along and instead
are now trying to change the master deed and by-laws to simply divide all
expenses equally among owners.
http://www.sunnyislesmiamirealestate.com/
Hello,
If you want find homes or apartments for rent let me suggest you to pick up a
location first.I have purchased a condominium a few years ago and have recently
discovered that we have been charged the same condo fees and assessments as
owners having larger square footage units. When we brought this to the Board’s
attention, they stated that we have been paying it all along and instead
are now trying to change the master deed and by-laws to simply divide all
expenses equally among owners.
http://www.sunnyislesmiamirealestate.com/
I am somewhat new to all of this, or just doing it again. While there must be some wonderful brokers, I read that because of their financial interest, they usually will *not* tell you this is the wrong time to buy. With most of them, it is always the right time to buy.
@Herb e hancock: Buyer broker only.
@Brownline: I agree that Johnny’s advice of doing the legwork is solid. I just found it valuable to have a professional opinion to check my legwork against. Regarding steering you to people they have a working relationship with, of course they will. That’s the point. They are referring someone in whom they have confidence, with whom they can work things out when there are issues.
I consider someone who facilitates getting the deal done, once I’ve determined that I want it done, working in my best interest. Specifically I was glad to have the broker’s lending reference as an option, but went with my own. Glad my broker had a relationship with my lawyer because there were a number of delays getting to a contract I was comfortable with. I was totally happy with the broker’s recommended inspector who was extremely thorough explaining everything. I researched all the recommendations prior to choosing them.
HUGE NB: All that is assuming you have a great broker. If your broker is shit, that’s what you get.
Other people might have already said this, but keep in mind that in NY all brokers are working for the seller, not the buyer.
I was naive about this when I bought, and got pretty well f***ed.
Once a broker showed me a property that was exactly what I was looking for but wasn’t on the MLS or listed by a local agency and had no sign in front, so I would never have found it on my own.
Otherwise, they’re mostly useless. I sold FSBO and would do it again unless I wanted a broker to negotiate the price for me, or I was selling or buying long distance.
Sometimes brokers can get in the way. It’s easy for misunderstandings to arise when they relay information between seller and buyer
We saw some places with a broker when we were looking, found it really annoying and unhelpful. She was pushing one property in particular on us and generally pushing us about what a great time it was to rush right out and buy. We even told her there was one place in particular we really liked–listed with her agency–but while she called us several times to continue to push the apartment we had shown no interest in, she didnt bother to get in touch with us when the place we liked did a big price cut (which we noticed on our own, ended up buying the place).
I’m sure some brokers are good but if you’d just be using some broker you dont know anything about, I’d say you’re just as likely to get one of the worthless variety so why bother.
Brokers when buying are of no value.
No matter what, they still work for the seller as you’re not paying the commission.
$0.2c
As I’m looking for a new home, I’ve found that brokers are not a good use or my time. They recommend things that I have already seen on the net, but they refuse to give me all the info that I can get on the net (i.e. all the photos and perhaps the address), as they don’t want me to bypass them and go directly to the primary realtor.
I think Johnny gives good advice when he tells you that, when buying, you should consider the legwork to be part of evaluating the relative worth of deals (as well as part of obtaining a good sense of what is available on the market), and that you should do lots of legwork yourself.
I’m skeptical about Ceze’s advice that you can depend on a broker for recommendations. I’ve heard that brokers sometimes steer you to people with whom they have relationships, and that they’re not always thinking of your your best interests.