Home Purchase

[EricKei]

I'd say to shop around. If this guy isn't doing the job, look for someone who can, for a reasonable rate.

I'm afraid I can't help you on the "legalities" bit ._.

[Seshat]

A typical real estate agent works for the seller. This means that buyers often find working with them to be frustrating.

Increasingly, however, there are real estate agents who are working as 'buyer's advocates' - basically, estate agents who work for the buyer.

We used one. When we eventually leave this place (if?), we'll contact the same company again (if they're still in business - it's been fifteen years already).

Anyway, I can't recommend using a buyer's advocate enough. BIG help.

[MoonCat]

I had a realtor to help me buy my house. He was working with NACA at the time, as their recommended agent, but I had the option to choose another if I wanted to. I went with him and he was dynamite. Talked the seller into knocking about $3400 off the asking price, which meant I didn't have to take the full loan amount NACA had authorized, which in turn meant lower monthly mortgage payments.

One thing you don't want to do is use the same realtor that the seller is using. You want someone representing YOUR interests at all times.

[Yfandes]

+1 on finding a buyers agent. A well recommended buyers agent. Interview a few. Typically they will get half of the sellers agents commission - so a 6% commission (paid by the seller, not you) would get them 3%. Then you have an advocate looking for what you want.

I'm not sure how it is there, but here in So Cal I would be VERY leery about new construction if I didn't oversee it and have a say in the materials - we have been seeing some horrible shoddy work on the McMansions that have been popping up. Bad roofs, bad drainage, cracking foundations... Made my 90 year old house look amazingly sound by comparison.

[Moirae]

Supposedly, this agent is a buyers agent. I'm not really seeing that. We were supposed to go see a house tomorrow and she blew me off this morning until at least Saturday.

My husband wants to give her one more chance, but I'm on the verge of just calling someone else.

[EricKei]

I'd say go ahead and call someone else (or else's). If you ...just happen...to not be there the next time your current agent expects you, well -- that's just Karma talking.

[wolfie]

Supposedly, this agent is a buyers agent. I'm not really seeing that. We were supposed to go see a house tomorrow and she blew me off this morning until at least Saturday.

Not involved in real estate, but my understanding is that unless you have a signed agreement with the agent to act as a buyer's agent, they're working for the seller (in other words, if you make an offer of $X, and mention to your spouse in the agent's presence that you'd be prepared to go as high as $Y, the agent is legally obliged to tell the seller, when presenting your offer, that you're prepared to go as high as $Y.

[Moirae]

Damn, we didn't sign anything Wolfie. I'm going to check in to that. Thanks for the heads up.

[EricKei]

This just showed up recently -- if you get sent a pic in an email, it could be one way to verify -- I do know that Google was sending their camera cars down to the NOLA general area as recently as when I last lived there (2012), so their Street Views shouldn't be too ancient. Can also help just to get an idea of how a neighborhood looks.

[wolfie]

The normal way (without a "buyer's agent agreement" or whatever it's called in your jurisdiction) is that while the seller deals with one agent (the listing agent) and the buyer deals with another (the selling agent), and the commission is split between the two, because both are paid out of the commission (which the seller pays), both are legally working on behalf of the seller. That's why (what you thought was) "your" agent is legally required to report the "prepared to go as high as $Y" to the seller - their duty to the seller is to get as high a price as possible for the property (and it helps that their personal interest - getting as much commission as possible - coincides with getting as high a price as possible). I've never dealt with a buyer's agent, but I believe that in a lot of cases you need to pay them.

One situation that's a good idea to avoid is "dual agency" - where the agent you're dealing with is also the listing agent on a property. Could be hard to do in small towns which only have enough transactions to support one real estate agent.

[Seshat]

Agreements with buyer's agents are often a commission deal, but do vary from area to area. Discuss it with your buyer's agent.

[Moirae]

So yesterday, I emailed our agent asking to see another property this weekend. No reply until about 5 pm tonight saying that "We must have had a misunderstanding. I told you that I had an appointment today at 5 and wouldn't be able to do anything until the weekend. I did make an appointment to look at a house at 1 pm."

1. I know because she already told me that when she blew me off on Tuesday. I also outright said I'd like to see the house on saturday after the one we were looking at at 1 pm.

2. The whole tone of that text was rude and kind of condescending.

So I texted her back that "we seem to be having communications problems " (because she couldn't be bothered to actually read the details of the message I sent, just the address though I didn't say that) "and have time problems" (because she was late to the first one and late to the second one. She called us right at 5 pm. If she would have been on time, she'd have been walking up at 5, not calling us on the phone). I also told her "I don't think this is working out. We will be finding another agent. Thank you for the time and effort you have spent with us. Good luck with your endeavors in the future".

She called me and I didn't answer, then she sent me a text asking me what she did wrong and she's sorry. I'm not going to bother to reply.

I have worked in customer service of some form since I was 12 years old (yesterday was my 38th birthday), and there's a few things that I've found to be very important.

1. Be on time.

2. Be communicative, including making sure you read emails in their entirety.

3. Be attentive. Customers appreciate it when you at least attempt to appear as though you're listening when they talk.

4. Ask questions.

and most of all..

5. Be respectful. Even when they are being rude and you have to tell them off, always be respectful.

She violated at least the top 3.

So now we're looking for another agent.

I emailed three earlier and am waiting for replies. I actually asked for information that I couldn't find myself. Two haven't replied at all. One replied saying the equivalent of "call me". They are all buyers agents. So far, not too impressed but I will give them a chance. I'm hoping one of them will actually answer my question at least a little to show that they are interested, involved, and willing to go above and beyond and that I don't just get two more "call me" emails.

[Moirae]

Ok, so I had two replies from the emails I sent. The third one ignored me.

The first reply basically said "call me" and was sent to be by a member of the agents team, not the agent herself. I did call and gave them my name, phone number and email. They sent me a link to their site to look at homes.

This morning I received a reply from another agent. This one works for herself, without a team. Immediately, the first thing she addressed was the question I asked in the email. This immediately impressed me and I emailed her back. She contacted a local modular home builder and asked them the questions I was wondering, then emailed me back. I called her right away and we are meeting with her on Monday. She was attentive and asked questions that were actually useful.

I also felt immediately comfortable talking to her (like I'm talking to an old friend) so I'm hoping that's a good sign.

Here's crossing the fingers. Hope she's better than the others.

[Sapphire Silk]

Anyway, I can't recommend using a buyer's advocate enough. BIG help.

I hired a buyer's agent when I bought my house. She split the commission with the seller's agent. She still had an incentive to sell at a higher price. She was a terrible negotiator; she'd present terrible counter offers as if I should take them. I was not happy with her.

Still, I will use another buyer's agent next time I buy a house. I've learned a thing or two about hiring the right one.