Comments on: Adventures in Real Estate - Buying without an Agent http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/ Fri, 21 Nov 2008 06:38:08 +0000 http://wordpress.org/?v=2.5.1 By: Cash Back Realtor Buyer's Agent Rebate - Testimonials Atlanta, GA Georgia http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-29655 Cash Back Realtor Buyer's Agent Rebate - Testimonials Atlanta, GA Georgia Wed, 04 Jun 2008 21:41:24 +0000 http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-29655 The Washington Post gives buyers the “heads up” on how a real estate transaction works in the real world. "Some people just don't like working with agents. Other buyers go without them thinking they can negotiate a better deal on their own by working directly through the listing agent. Often they think that by working on their own, they are entitled to a discount on the sales price equal to what the buyer's agent would have received as commission. But the payment structure doesn't work that way. In that situation, the seller's agent just keeps the whole commission." http://www.washingtonpost.com/wp-dyn/content/article/2007/11/10/AR2007111000046.html Perhaps the home buyer doesn't need full service and is willing to incur some of the legwork. In that case, a buyer's rebate might be appropriate and is merely a price reduction of buyer-agency services. Finally, a buyer should seek out a good buyer’s agent who is focused on saving the buyer money through strong negotiations throughout the entire transaction. The Washington Post gives buyers the “heads up” on how a real estate transaction works in the real world.

“Some people just don’t like working with agents. Other buyers go without them thinking they can negotiate a better deal on their own by working directly through the listing agent. Often they think that by working on their own, they are entitled to a discount on the sales price equal to what the buyer’s agent would have received as commission. But the payment structure doesn’t work that way. In that situation, the seller’s agent just keeps the whole commission.”

http://www.washingtonpost.com/wp-dyn/content/article/2007/11/10/AR2007111000046.html

Perhaps the home buyer doesn’t need full service and is willing to incur some of the legwork. In that case, a buyer’s rebate might be appropriate and is merely a price reduction of buyer-agency services.

Finally, a buyer should seek out a good buyer’s agent who is focused on saving the buyer money through strong negotiations throughout the entire transaction.

]]> By: Stephen Graham - Buyer's Agent Atlanta, GA http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-29180 Stephen Graham - Buyer's Agent Atlanta, GA Mon, 19 May 2008 22:13:34 +0000 http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-29180 Good job, Feng. You can get a good buyer's agent to negotiate a lower price on behalf of the buyer and a get rebate too. Good job, Feng. You can get a good buyer’s agent to negotiate a lower price on behalf of the buyer and a get rebate too.

]]> By: Feng http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-4337 Feng Wed, 09 May 2007 05:27:21 +0000 http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-4337 My agent gave us 1.5% cache back, and she still did all work. I think it should be a standard in the bay area since the housing price is much higher than the rest of country. My agent gave us 1.5% cache back, and she still did all work. I think it should be a standard in the bay area since the housing price is much higher than the rest of country.

]]> By: mike http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-4119 mike Fri, 04 May 2007 22:50:13 +0000 http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-4119 Oh, I make no such assumption; I'm well aware that there could be a number of reasons why my offer was not accepted. However, given the amount of time I spent with that listing agent, I know they were interested in the offer and that it was close. I stand by my conclusion though - I think you are very unlikely to win a bid if there are competing offers which are similar. The agents and the sellers will perceive the other offer as less risky than yours merely because the other party has an agent. Oh, I make no such assumption; I’m well aware that there could be a number of reasons why my offer was not accepted. However, given the amount of time I spent with that listing agent, I know they were interested in the offer and that it was close. I stand by my conclusion though - I think you are very unlikely to win a bid if there are competing offers which are similar. The agents and the sellers will perceive the other offer as less risky than yours merely because the other party has an agent.

]]> By: Adrian http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-4074 Adrian Wed, 02 May 2007 13:24:01 +0000 http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-4074 You're assuming your offer wasn't chosen because you didn't have an agent. I'm not sure that's a valid assumption. When I was shopping in that area, I overbid on 8 homes (with an agent, pre-qualified financing, as-is offers, etc.). I lost every time to a higher bidder. It seems surplus demand is a more likely reason for your losses than the fact that you were trying to buy without an agent. You’re assuming your offer wasn’t chosen because you didn’t have an agent. I’m not sure that’s a valid assumption. When I was shopping in that area, I overbid on 8 homes (with an agent, pre-qualified financing, as-is offers, etc.). I lost every time to a higher bidder. It seems surplus demand is a more likely reason for your losses than the fact that you were trying to buy without an agent.

]]> By: Stuck in the last century: Real Estate Transactions — decheung.com http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-3949 Stuck in the last century: Real Estate Transactions — decheung.com Fri, 27 Apr 2007 05:58:39 +0000 http://www.belshe.com/2007/04/23/adventures-in-real-estate-buying-without-an-agent/#comment-3949 [...] without an agent - here are some relevant quotes from his most excellent and informative tale: Mike’s Lookout » Blog Archive » Adventures in Real Estate - Buying without an Agent In January, I embarked on a quest to buy a home without using a real-estate agent. The reason for [...] [...] without an agent - here are some relevant quotes from his most excellent and informative tale: Mike’s Lookout » Blog Archive » Adventures in Real Estate - Buying without an Agent In January, I embarked on a quest to buy a home without using a real-estate agent. The reason for [...]

]]>