Using Buyer Agents/Brokers???

[goodyear]

I saw a condo unit that I am interested in. Its the first time I've considered buying a place.

Is is recommended to use a buyer agent/broker? Or just call the listing agent?

Also, what's the best way to go in picking a realtor when buying? Is it necessary at all?

[Bertuzzied]

All 4 of the houses i have ever bought I just went straight to the listing realtor.

I got a good deals on all of them and a really really good deal on my current house.

[yads]

I've done both with mixed results. First condo we got a deal because we walked away 7K apart and the agent put the deal together by taking the difference off of his commission. When we bought our house we went through a partner team with one of them representing us and another of them representing the buyers. Felt like 'our' agent did not represent us very well and we had to fight for everything. Buying a place now and we're going with a buyer's agent. He seems to notice things that you otherwise may not notice when looking at a place (defects, resale considerations, potential problems, etc.) and offers solid advice.

[username]

I guess going to the listing agent is a good idea, however are you certain you want that exact condo? You're not even going to entertain the idea of shopping around for what i suspect will be the biggest purchase you've ever made?

[Jonrox]

I'd be leery about going with the listing agent. In any negotiation, the person with the most information generally wins. In this case that is the agent as he/she knows the motivations, finances, and needs of both parties.

If you do go this way, try to keep as much info regarding your situation from the agent as possible. Don't give him/her any idea of what your maxiumum price is - they can only use it against you. Don't let him know that this is the only condo you want. Also, make sure he/she is cutting the commission substantially - they're already double-dipping so will make out just fine if they cut the commission in half.

I just feel the agent doesn't have the same motivation to get you as cheap of a price as possible when he is also trying to get as much as possible for the buyer.

As a basic example... condo is listed at $200,000. You have decided you will pay up to $195,000 and have told this to the agent. The seller has decided they will go as low as $190,000. The agent knows both parties' limits and will maximize his return, meaning you pay $195,000 instead of your agent fighting to get the condo for $190,000. Doing this is putting a lot of trust in someone you don't really know.

The agent I just used to sell my house was great and I imagine she's a fantastic buying agent as well (in fact, I think she acts as a buyer more often than a seller). PM me if you want her name and number.

[Winsor_Pilates]

Use a buyers agent.
The Listing agent isn't on your side, and giving them a double ender for not representing you is giving them money for nothing.
Get a good Realtor who will help you negotiate a good price and look at details of the home the listing agent will definitely not want to point out to you.

It's your first time buying a place and I guarantee you there are things a good agent can spot and teach you that you haven't thought of or won't notice in the place you are looking at.

[troutman]

Originally Posted by Winsor_Pilates

Use a buyers agent.
The Listing agent isn't on your side, and giving them a double ender for not representing you is giving them money for nothing.
Get a good Realtor who will help you negotiate a good price and look at details of the home the listing agent will definitely not want to point out to you.

It's your first time buying a place and I guarantee you there are things a good agent can spot and teach you that you haven't thought of or won't notice in the place you are looking at.

+1

Also, buyer does not pay commissions.