Should I Use a Broker
So after attempting to move to an Apt that I could live in for the next couple years and having zero luck finding anything better than I am already in, I have decided to resign my lease for a year and find a place to buy. My question is should I find a broker to…
So after attempting to move to an Apt that I could live in for the next couple years and having zero luck finding anything better than I am already in, I have decided to resign my lease for a year and find a place to buy.
My question is should I find a broker to show me listings or should I look on my own and then use the broker who posted the listing?
thanks
Partly it depends on where you’re looking. Never use a buyer’s broker in Queens. You will be locked out of a lot of deals. In general, though, you may as well look yourself. The brokers don’t work for you and they don’t usually do a great job of finding what you want.
I’d start by going to some open houses to get a better idea of what you’re looking for, and get pre-approved.
Thank you very much. So far that is the advice I have found that it is best to work with someone but also keeping looking on your own. I was also told:
“Since the commission is a percentage of the sales price normally, the seller’s broker and your broker will share it, but the seller pays it, you don’t. Make sure you establish that this is the case.”
So I guess it even makes more sense to work with someone.
Well – you should do both. Putting my broker hat on, I would ask: Have you been pre-approved for financing, when are you realistically looking to purchase? Most competent brokers will not do much leg work unless you can answer those questions. Feel free to browse open houses on your own however.
Hmmm, surprised no one has any advice for you.
I haven’t been in the market to buy and probably won’t for a couple of years, but I would see no problem with doing both approaches.
I mean, if you find a broker who is doing so much leg work for you that you feel like he/she is getting you to see all the properties you might be interested in, then great — let them do all the work.
But it won’t hurt to keep an eye on listings yourself and make sure you aren’t missing anything. With the internet, it isn’t hard to keep up with these things.
I guess I mean a realestate agent…
I am also torn between a nice condo or a fixer up house. I want a yard and the income from a rental that a house would provide and something to work on. But I travel a lot so a Condo is good where I don’t have to worry as much about it when I am out of town.