Any Realtors?

Lee

Lee

ECGS
Joined
Mar 20, 2005
Location
Louisburg NC
Any realtors on the board? I have a piece of land I am trying to buy and I have been dealing with the realtor that is representing the seller and I am getting a bit of a run around. Looking for some advise and someone to make a few phone calls for me. If you can pick up some commission off the sale even better.
 
He's not on the board, but he was my realtor, and one of the few I trust (enough) to deal with. Good dude, works from middlesex, not sure if he heads far enough west for you, but im sure he could answer some questions for you.

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rockcity said:
Buyers agents don't cost you anything. Use a realtor to do all the legwork if you can!


But I am no help on your question.
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I had no clue a buyers agent didn't cost anything. I'm in the very beginning stages of looking at a home here. The realtor they are using isn't bad, nor hard to deal with, but I would think her interests lie in the seller, not so much with me as the buyer. I sort of hesitate to use a buyers agent though, because I would use this same realtor when I sell the home and I don't want there to be any sort of grudge against me.
 
Macdaddy4738 said:
I had no clue a buyers agent didn't cost anything. I'm in the very beginning stages of looking at a home here. The realtor they are using isn't bad, nor hard to deal with, but I would think her interests lie in the seller, not so much with me as the buyer. I sort of hesitate to use a buyers agent though, because I would use this same realtor when I sell the home and I don't want there to be any sort of grudge against me.
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Make sure you get a realtor that truly represents you the buyer.

They only get paid if they find the house you want.

Typically the buyer negotiates for the seller to pay the closing costs. This means if the same realtor represents the buyer and seller, they receive the entire 6-8%.

If you have your own realtor as a buyer, then they typically split the %.

Disclaimer: I'm no expert or realtor by any means, this is only my understanding of how it works.

First question to ask any realtor, is who are they are representing buyer or seller. Their opinions and statements will be aligned with each.

As well, as a buyer, be 110% up front and communicate every detail/desire/wish/long term goal with your realtor so that he/she can find the perfect property for you.
 
I think a realtor that represents both buyer and seller can't truly do their due diligence for either party and both end up loosing out to some degree. Rather than a negotiator, they are simply a liaison between each and just does the paperwork.
 
Little more info. This piece of land came up for sale accross the street from my current residence. 8 acres, stupid low price. Made an offer and realtor is now acting like the seller wants almost 15k more than the asking price. Says the asking price was only to draw attention, what kind of bs is this?
 
Also i came back with an offer 2k more than asking price but with some stipulations. Realtor says the seller has declined my offer and they are looking for more $, seems like a big game or there are other offers on the table i am unaware of.
 
They are trying to bid you up. Low price listings are usually a strategy to get multiple offers and create a bidding war. But, this is usually for property that is highly sought after.

How long has the property been on the market?
 
i could probably find a name or two but don't know anyone to recommend up that way.

Are you looking for more land or a house or place to build one? I know where you can buy that much land, not far from you, if you're still looking.
 
Negotiate with the realtor for a discount on the property via the buyer's portion of the commission. If serrer's agent doesn't want to budge, call a realtor to do the work and force the seller's agent to give up the buyer's agent commission.

Point is, if the agent is playing hardball, get in the game and do the same. They can either be flexible with $ or you'll hire someone the take the $ away from them anyway.
 
trailhugger said:
i could probably find a name or two but don't know anyone to recommend up that way.

Are you looking for more land or a house or place to build one? I know where you can buy that much land, not far from you, if you're still looking.
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Just built a new house about 1 1/2 ago, this piece of land is almost attached to me. Was looking at it as an investment and to cut in some more atv trails for my son and i as well as hunt it.
 
rockcity said:
They are trying to bid you up. Low price listings are usually a strategy to get multiple offers and create a bidding war. But, this is usually for property that is highly sought after.

How long has the property been on the market?
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Not what i would call high demand area, i live in the sticks. It seems as if the want to bid it up yes. Been on the market about a month
 
Contact the seller directly, tell them their realtor is a tool and make sure they are aware of your offer. Realtors know less about the land than you, so you really don't need them. They can help take your money though.
 
Lee said:
Not what i would call high demand area, i live in the sticks. It seems as if the want to bid it up yes. Been on the market about a month
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Sounds like the realtor is doing a good job for the seller. They likely know you live nearby and want the property.
 
A few thoughts here...

1- A seller's agent is bound by law to "protect the best interest of the seller at the peril of all other parties"...by law a seller's agent can not help you. Period. You need a buyer's agent.
2- The commission is fixed at 6% total. The seller's agent pays the buyers agent half. It costys neither you nor the seller. Get an agent to make the call.
3- If the house is listed on the MLS and you offer asking price they can not refuse to sell unless A) they have multiple offers and accept an alternate HIGHER one, or B) they remove the listing from the MLS. If they refuse a qualifying offer without notifying you of a multiple offer situation they are in serious jeopardy of violating the fair housing act (the fact that it is vacant land does not change that in any way).

[B is quite nuanced and Id be glad to discuss it with you in some detail, but not feeling like typing a book.]


I would suspect without any knowledge the the agent has a conflict of interest.

Did you submit a formal written offer?
If so the agent is required by law to present it to the seller. Ive been screwing with a property I want lately that an agent I hate represents and I have submitted a new offer every day for a month that is $1 higher than the previous and asked for written response acknowledging receipt and declination from the seller...just to be that guy.
 
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