nicky Posted June 23, 2009 Share Posted June 23, 2009 Hi,I was just wondering if it's a good idea to have a realtor (ABR) working for me that is in the same company as the listing realtor (just as an example, both working at Coldwell or some other company, etc.). I was thinking about negotiating on a house and was wondering if I should worry about that before I express my intent.I would appreciate any knowledge or suggestions more experienced members may have on dealing with and selecting a good realtor in Houston. As a side note, I've noticed that during my search for a home, realtors sometimes shy away from certain properties without giving any reason although it's a good property. For example, when I suggested a property I liked and considered, she told me I could do better and just brushed it off and showed me other properties. Do realtors make more for certain properties or have secret incentives.Thanks for any help and thoughts. Link to comment Share on other sites More sharing options...
jm1fd Posted June 23, 2009 Share Posted June 23, 2009 If the listing agent (the one selling the house) referred you to another agent in their branch or company, then I would be worried. If you found your own agent, and they are representing you in a transaction that happens to involve an agent from the same branch/company then I would still be worried, but less worried than if I was directed towards a specific agent.Ask for specific reasons as to why they're dismissing a particular house. If they can't provide legitimate, verifiable reasons as to why it shouldn't be considered then it is time for a new realtor. Yes they do make more for certain properties, and yes there are tons of secret incentives such as referral kickbacks from inspectors, mortgage companies, insurance agents, contractors etc.You should think of a realtor as somebody who is barely capable of unlocking houses and filling out paperwork. Don't expect them to dispense good, sound advice or act in your best interests, because at the end of the day they just want you to buy a house so they can get their commission check and then move on to the next commission check. Do your OWN homework! Link to comment Share on other sites More sharing options...
Yankee_in_TX Posted June 23, 2009 Share Posted June 23, 2009 My $.02 - I am in the buying process and represent myself. As such I deal with a different Realtor every time I want to view a property (seller's agent).Make sure your agent is working for YOU. If they do anything against your wishes, they better have a darned good explanation.Otherwise, get a new one.Like ANY profession, Reatlors include a variety of people, including those who are lazy, greedy, and/or bad at their job. Link to comment Share on other sites More sharing options...
EMME Posted June 23, 2009 Share Posted June 23, 2009 Specifically ask your realtor to be a "Buyers Agent." That way they are working in your interests. The sellers agent is working for the sellers best interest. Link to comment Share on other sites More sharing options...
burlesona Posted June 23, 2009 Share Posted June 23, 2009 I'd take a look at ZipRealty. I've been working with their Houston Agent, Theresa Turley. She has been extraordinarly helpful. They also offer a rebate of 20% of their commission which works out to about $600 per every 100k of home you're looking at. So, $1800 cash back on a $300k home!I've been really impressed with them, they're worth a look.I can also tell you, I was doing the same thing - meeting just with sellers agents as I searched - and it worked fine to get to see some properties. However, the difference when we brought in a buyers agent was surprising. I thought I was being pretty thorough in the questions I was asking and the concerns I was researching, but there was a lot I had overlooked.I'd definitely recommend getting a buyer's agent, no matter who you work with. Link to comment Share on other sites More sharing options...
rbarz Posted June 23, 2009 Share Posted June 23, 2009 If the listing agent (the one selling the house) referred you to another agent in their branch or company, then I would be worried. If you found your own agent, and they are representing you in a transaction that happens to involve an agent from the same branch/company then I would still be worried, but less worried than if I was directed towards a specific agent.I agreeAsk for specific reasons as to why they're dismissing a particular house. If they can't provide legitimate, verifiable reasons as to why it shouldn't be considered then it is time for a new realtor. Yes they do make more for certain properties, and yes there are tons of secret incentives such as referral kickbacks from inspectors, mortgage companies, insurance agents, contractors etc.Sort of agree... there aren't that many kickbacks if any. But plenty of agents will not show a house that has less than a 3% commission. You should think of a realtor as somebody who is barely capable of unlocking houses and filling out paperwork. Don't expect them to dispense good, sound advice or act in your best interests, because at the end of the day they just want you to buy a house so they can get their commission check and then move on to the next commission check. Do your OWN homework!I totally disagree (although it can be true). I have three degrees including a law degree, I have been successfully investing in real estate for a decade, and I am a Realtor. The commission check is not my ultimate goal. The amount I receive from deals under $500,000 is a small part of my income and I realize (like others should) that it is better to have repeat customers and good word of mouth advertising then to just push a deal through. Link to comment Share on other sites More sharing options...
nicky Posted June 23, 2009 Author Share Posted June 23, 2009 First of all, thanks for the replies.I have been doing a lot of homework on my own and searching on my own as well, but I thought a realtor might help us find some unlisted/early properties, and mainly with the negotiating part.As for the realtor I'm working with...it's my second one. The first one kept pressuring me from the start to sign a contract with him which made me uncomfortable....and now the current one is not really listening to me and appear to have her own agenda. And I've tried to do research on realtors, like looking at their credentials (for ex: ABR, CBR, etc...) if that really matters.But thanks again for your insights as I'm new at this and my first experience with dealing with realtors. Link to comment Share on other sites More sharing options...
EMME Posted June 23, 2009 Share Posted June 23, 2009 First of all, thanks for the replies.I have been doing a lot of homework on my own and searching on my own as well, but I thought a realtor might help us find some unlisted/early properties, and mainly with the negotiating part.As for the realtor I'm working with...it's my second one. The first one kept pressuring me from the start to sign a contract with him which made me uncomfortable....and now the current one is not really listening to me and appear to have her own agenda. And I've tried to do research on realtors, like looking at their credentials (for ex: ABR, CBR, etc...) if that really matters.But thanks again for your insights as I'm new at this and my first experience with dealing with realtors.My realtor was imperative in my negotiating process. He thought of things I never would have thought of and he was able to keep me from buckling under the pressure from the other side. John Erickson and Brenda Erickson are with Suzanne Anderson Realtors. John has been my realtor on two house purchases and one house sale. I highly recommend them. Link to comment Share on other sites More sharing options...
Yankee_in_TX Posted June 23, 2009 Share Posted June 23, 2009 As for the realtor I'm working with...it's my second one. The first one kept pressuring me from the start to sign a contract with him which made me uncomfortable....Obviously if you feel uncomfortable you should bail.However (Realtors on here correct me if I am wrong) - but from day 1 a buyer's agent will want a contract at least saying "if you buy a house I show you, I get 1/2 of the commission on the house" (usually 3%). Otherwise, he or she is working for free.Do not sign a contract that says they get paid no matter what. Link to comment Share on other sites More sharing options...
diggity Posted June 23, 2009 Share Posted June 23, 2009 However (Realtors on here correct me if I am wrong) - but from day 1 a buyer's agent will want a contract at least saying "if you buy a house I show you, I get 1/2 of the commission on the house" (usually 3%). Otherwise, he or she is working for free.Some agents require their buyers to sign a Buyer's Rep Agreement, others don't.It doesn't sound like the OP signed one though. Link to comment Share on other sites More sharing options...
Dan the Man Posted June 24, 2009 Share Posted June 24, 2009 ...I thought a realtor might help us find some unlisted/early properties...Every realtor I worked with used that line, but I never saw it happen. Link to comment Share on other sites More sharing options...
insidehouston Posted July 7, 2009 Share Posted July 7, 2009 "was just wondering if it's a good idea to have a realtor (ABR) working for me that is in the same company as the listing realtor (just as an example, both working at Coldwell or some other company, etc.). "I don't know if it a problem but its certainly not a benefit. I would recommend a buyers agent. The listing agent is legally obligated to help the seller. So they are not going to disclose anything beyond what they legally have to. Also personally I dont like buyer rep agreements. Its a long contract with someone you usually don't know that well. Link to comment Share on other sites More sharing options...
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