Using a Buyers Agent?
Do you think using a buyers agent is a bad idea? Are sellers agents less willing to split commissions? Will it reduce the chances of getting a bid accepted? We’re new to all this.
Do you think using a buyers agent is a bad idea? Are sellers agents less willing to split commissions? Will it reduce the chances of getting a bid accepted? We’re new to all this.
Irieman you have me confused with mopar. MLS is not really relevant, but all the listings brownstoner people care about are visible on the NY Times or on the seller brokers’ websites.
babs, I’m sure you’re honest but the reputation of your industry is in shambles. I’ve had brokers lie to my face quite often.
OP — whether or not you use a buyer broker, verify ALL of the information (school districts, transportation, % of building sold, etc) and don’t take any referrals.
I thing Babs said it best, “joe the bummer” is just that a “bummer” what would you expect froma guy who uses MLS for his Brooklyn listings search?!?
And yes, jace, the fact that the seller is paying the entire commission may seem counter-intuitive for a buyers’ broker acting in the buyer’s best interests, but most brokers I know do a good job of keeping it that way. And isn’t it in the buyers’ best interests to get the property they want as smoothly and at as fair a price as possible?
Sorry, joe, I don’t work for Corcoran, so I’m not familiar with their sales pitch when working with buyers. And I’m not saying there aren’t less-than-honest brokers out there; I’m just saying that a good one won’t betray his/her client. And, yes, at times I would rather give up half of my commission for a smoother, speedier closing so that I can devote my time to other, more lucrative, areas. And I’m successful enough as it is, thanks, so I don’t think that most of my clients and customers feel I’m conning them in any way.
Unless Mr. Brownstoner wants to restrict posting here to non-brokers only you’ll just have to deal with it, joe.
90% of the properties in brownstone Brooklyn aren’t on the Brooklyn MLS, which is primarily in southern Brooklyn and is subscribed to only by smaller firms and those not even in Brooklyn.
But noodlemania, if you’ve lost three places, it’s time to ask your agent (and yourself) why. Are your offers too low? Are your offers presented in their best light (meaning do your finances look as good as they should)? Do you have a good mortgage pre-approval? Are you putting a sufficient amount down?
As a seller, I would go with a lower offer from someone who had a higher downpayment and better mortgage pre-approval/pre-qual than a higher offer from a low down payment person, because the liklihood of closing is much higher.
This is not a buyers’ market in the sense many people here would like to understand. It doesn’t mean that you can submit lowball offers and have them embraced with open arms. Most selling prices out there now are already considerably lower than they would have been a year or two (or even three) ago, and I personally have seen several properties go for over ask. Again, your agent is the best person to counsel you on the state of the market — and if you don’t feel you’re getting the information and attention you need either speak up or change agents. Good luck to you in anay case.
To combine two posts…
“Every buyer should have someone on his/her side.
The seller’s broker’s undivided loyalty is to the seller.
Buyer’s brokers also bring a wealth of experience with previous transactions and can offer all kinds of advice”….
…..”the buyers broker is also getting a percentage of the selling price”
jus sayn
of course I meant “half of his commission” in my previous post. let’s please only consider opinions of non-brokers.
OP here. Thanks for the input. We have been working with a buyers agent and had 3 different places slip through our fingers, so we’re wondering if it’s us or our agent or what. I thought this was supposed to be a buyer’s market?
I did just hear that existing home sales have spiked in the past month, so maybe it’s just more competitive right now.
Are you paying the buyer’s broker yourself? Otherwise they work for the seller. I have just found most of them get in the way. You can view the same MLS properties they can.
babs did you copy that off of Corcoran sales literature? What world do you live in? “every buyer should have someone on his/her side” — right, but the point is, this is New York, and the person you think is at your side will screw you. You are NOT on our side. Everyone knows not to trust you for “brokers, lawyers, inspectors”
Any of the special information about “board packages in binders” etc is going to be known by the seller broker.
OK, “any broker who puts his/her own interests ahead of his seller’s is violating his contract with that seller” — you’re saying that doesn’t happen? what’s your point?
Would you really have us believe that a seller broker wants to give up 3% of his commission so he doesn’t have to “deal with” the buyer? Do you truly think we were born yesterday?
If you brokers could only learn to lay down a thinner layer of bullshit you would be so much more successful.
That disingenuous crap really pisses me off. seriously I am pissed off now. We’re trying to have an honest conversation without your broker crap.