patrick.net

On the buy side, there is very, very little difference from realtor to realtor. I would call several realtors and ask them what commission they will charge you. You should let them know that you are looking for the lowest commission possible. There are plenty of realtors who will work for 1%, some even less.

I think your chances for getting the lowest rate are better with an independent realtor over a franchised or big name realtor.

Biff

Agents do alot of back scratching. They don't scratch the backs of nobodies. Consider this before going with an independent broker.

You will get lots of good and bad advice here and both will 'get you a house' so you wont ever know the difference until you 'try everything'.

I would recommend to approach listing agent directly say 'hey you can double dip this deal but I need to get a good price'. This will turn the sellers listing agent into YOUR agent as they hopefully will throw all other offers in the trash and present your lowball as the best offer.

Alternately you can fart around with a buyers agent, get 'outbid' by offers that are less money than yours is and you will be very confused.

You need to learn how the agent commissions are paid to understand what to do. Their are up to FOUR commissions paid on one deal. A buy side broker, buy side agent, sell side broker, sell side agent.

If you use the listing broker to represent you - that person will pontentially get the ENTIRE 6% and not have to split it with 3 other people. That is motivation.

Go ahead and use refin that will kick back you some change - but you will have to pay top retail price.

As far as sources go, you can pick up a local Homes and Land at most newsstands and search for realtors not associated with a franchise. Some advertise reduced commissions. You might also check here:

http://www.irebgroup.com/

I have no background on them but they say they are independent and appear to be located in your neck of the woods.

Biff

>>[how to] identify a good real estate agent?

The obituary section of your local newspaper?
(yes, tongue is slightly in cheek)

As a former REALTOR® there is really no difference between an independent agent and one that works for a big name, they all have overhead to pay... But FYI, if you are buying a home; you do not pay a commission to buyer’s agent (only if you are buying a FSBO), otherwise the seller pays the commission. It helps to interview several agents and ask mainly what they know about the areas you are interested in and if they do their homework should be able to tell you specifics with very little effort, its their job to know their demographic!!

You can try to ask an agent if they would be willing to work both ends of the deal but their ultimate fiduciary duty is always to the seller if they are the listing agent so just be aware…

Ladyveteran says

you do not pay a commission to buyer’s agent (only if you are buying a FSBO), otherwise the seller pays the commission.

Not true. First of all, the buyer pays the purchase price. Second, each side gets fucked equally. Trying to say it comes out of the seller's end is naive at best.

Ladyveteran says

You can try to ask an agent if they would be willing to work both ends of the deal but their ultimate fiduciary duty is always to the seller if they are the listing agent so just be aware…

Also watch out for dual agents -- where both listing and buying agent work for the same company. This is basically a scam. The buying agent is looking out for your interest even less than a typical buying agent, if that were possible. Don't expect anything you tell a buying agent in a dual agent scenario to be confidential because realtors don't have traditional ethics and fiduciary duties like lawyers and accountants.

As a former there is really no difference between an independent agent and one that works for a big name, they all have overhead to pay... But FYI, if you are buying a home; you do not pay a commission to a buyers agents (only if you are buying a FSBO), otherwise the seller pays the commission. It helps to interview several agents and ask mainly what they know about the areas you are interested in and if they do they're homework should be able to tell you specifics with very little effort, its they're job to know their demographic!!

corntrollio says

Don't expect anything you tell a buying agent in a dual agent scenario to be confidential because realtors don't have traditional ethics and fiduciary duties like lawyers and accountants.

This statement is very true.

If possible, you can state a flat fee that you'll pay the buyer agent and get him to work for you. Don't make it a % of purchase price. This *may* work easier if you can't find a good lawyer who can be paid hourly to write up contracts.

You can state this fee based on the max purchase price you are willing to pay, but sign up for a buyer-broker employment agreement and write the flat fees down clearly. This way, the buyer agent earns money from you (not as a part of the purchase price) and should get you the best deal possible.

This is a good way to ensure the conflict of interest of the buyer agent is at best fully removed, at least mitigated to the maximum extent possible.

The listing agent will still want to take commission off the purchase price but that will be between the listing agent and the seller.

Paying a lawyer to write up contracts... Have you offered on a home lately? You want to pay a lawyer by the hour writing numerous offers for you?? I guess this may work in areas with zero demand. But in many areas, there is competition for a quality home.

There is a high chance your offer won't even get looked at because simple instruction tells you to use CAR form. I highly doubt any contract/offer written by a lawyer that is not on their requested form will even be considered.

I think that's an oxymoron. it's like asking which used car salesman is good to go with. I've never seen an agent that is on the buyers or seller side, too much conflict of interest.

In real estate any relationship you go into will be void of any trust, that is already bad from the get go.

corntrollio says

realtors don't have traditional ethics and fiduciary duties like lawyers and accountants

Ethics like lawyers? Fun like rape?

Ladyveteran says

As a former REALTOR® there is really no difference between an independent agent and one that works for a big name

Complete horseshit.

Asking for referral of a GOOD Real Estate agent on Patrick.net reminds me of the joke about the guy showing up in heaven asking for a GOOD lawyer.
Hey BayArea, Patrick.Net is mainly focused on What happened to cause the housing crisis and how to cure it. As you may have noticed. Real Estate Agents are convenient for attack.

BayArea says

recommendations on how I may go about finding a good real estate agent in a particular area?

Your best bet is to find the closest Realtor Organization. I know there are five in Santa Clara County. Ask for the busiest or most seasoned Broker in your area of interest. And if they don't treat you in a fiduciary manner. Punch em in the face.

Most realtors I've seen in my numerious visit to openhouses are not impressive at all. Hard to call them professional. They're more like one day home nanny or something. Few of them were so hopelessly stupid to the degree that I simply don't want to see any more. Among hundreds, I do keep 3 business card, and one of them will be my buyers agent in the future.

I went openhouses for years since 2009. It's very hard to find a home that meets my expectation at right price. So why I wastes my time and effort for something I know I won't buy? I went there not to see the home, but to see the realtor. A friend of mine told me that that's what she've been doing. Her intention was to find a realtor that fits her, not the home that she wants. The girl found one, and the realtor find a home for her. I am doing the same and hoping the same happening to me.

Those 3 realtors seems to know the area, the home they're representing, motivated negotiators and they talk straight. Out of more than hundreds, only those 3 sent us a follow up letters, and asked us contact them if we want anything.

So, I think they're relatively reliable than the others. That does not mean they're hellova nice or care us like they do to their family. But at least, they showed us some positive attitude and hint of their work procedures, I think that's way better than the others. So, if I had to throw my money, I'd to it with them rather than other 100 or so guys.

So, I guess I have few realtors to choose from. That's good part. The bad part is... this is DC metro area, and the price went back to 2006 level or 95% of peak level. There is no way for me to pay 550K for 50 years old wooden pannels and wall papers. Only if it goes down to 400K or so, I will be a home owner in no time.

ptiemann says

Just today I saw a house went pending that I had written an offer on. Correct, I am NOT well-connected, at least not in the area where this house was/ where this listing agent was from.

I cannot fault him. Why would he suggest to accept an offer from an out-of-the-area buyer/agent when he can work with a person whom he has worked with before.

Isn't this a big problem though? Agents must put the principal first. That realtor deserves to lose his/her license. This is what I mean when I say there are no traditional ethical and fiduciary duties for realtors.

you pay for my stuff says

Paying a lawyer to write up contracts... Have you offered on a home lately? You want to pay a lawyer by the hour writing numerous offers for you?? I guess this may work in areas with zero demand. But in many areas, there is competition for a quality home.

There is a high chance your offer won't even get looked at because simple instruction tells you to use CAR form. I highly doubt any contract/offer written by a lawyer that is not on their requested form will even be considered.

Actually, it'd be easy to have a lawyer do the actual legal work, since a realtor is incapable of doing so. You don't need the lawyer to write up the contract, just to advise on it, since it's a standard CAR form. Realtors often claim that they can help you with disclosures and other legal stuff, but that doesn't seem like a great idea to me.

What's the difference? Pick the hottest babe among them. If you're volunteering to be given an enema, may as well be performed by a woman.

APOCALYPSEFUCK is Tony Manero says

Q: What sources are there to identify a good real estate agent?

A: Obituaries.

Yeah, this is the last opportunity to find any good alive ones. LOL.

The best source would be referrals from persons who know and who you trust and whose judgements you trust.

If you don't already have such referrals and instead have to ask strangers on Patrick.net for referrals then it sounds you have not lived here long enough to know enough about the region to make a wise purchase.

HA HA HA HA HAAAAAA!!!!!!!!!!!!!!!!!!!!

Biff's statement, "On the buy side, there is very, very little difference from realtor to realtor. I would call several realtors and ask them what commission they will charge you" is misleading - downright wrong. The commission offered by the listing office to the selling agent/office is predetermined and posted in the private remarks on the MLS. Typically it's 2-3%.

Calling an agent and asking them what commission they will charge you is senseless. Your agent will be entitled to the commission offered by the listing office.

An independent agent may be more willing to share some of the commission with you whereas a lawyer won't be entitled to the commission unless he/she is also a real estate licensee. Using a lawyer who is not a licensee will cost you more. You'll pay lawyers fees, and you won't have a chance of negotiating a credit.

bottom line is buyer is always screwed.

My two cents? Find an older agent, one who has been in the business a long time, and get to know them a bit first, don't work with anyone who is a pushover since they are mostly full of sheet, see if you can tap Angies list.

APOCALYPSEFUCK is Tony Manero says

Isn't this like asking where one finds all the 'good' serial killers?

Or the 'nice' neonazis?

Or the 'agreeable' and 'polite' cannibals?

LOL. AF keep it coming.

APOCALYPSEFUCK is Tony Manero says

Q: What sources are there to identify a good real estate agent?

A: Obituaries.

APOCALYPSEFUCK is Tony Manero says

You believed them?

ptiemann says

My original offer was $435k, I called him and he said it's too low, their best offer so far was $442k.

LOL. Yeah, they always have offers but the wooden box still it keeps coming back on market. So did they really have offers or they are waiting for some sucker to pay too much?

Hi folks, certainly some entertaining responses in here.

I should clarify my original request. Certainly each party involved is going to be motivated by some things they share in common and some things they don't... ie: both the buyer and the agent ultimately want the trasaction to go through. The buyer wants that transaction to go through at the lowest possible price to them and the agent stands to make more money with a higher price.

I'm not looking for an agent that will be a friend, will be pleasant to be around, or one that I can 100% rely on without having to cross-check them. What I am looking for is someone that will bring the following to the table:

- Present me with facts, not opinions
- Present me with new listings quickly
- Be available when I need them

Those are the three things I am looking for and prefer not to shoot in the dark by walking into a real estate office and being assigned the first available person or emailing a random on zillow.com :)

I tend to side with one of the comments above... It's not a bad idea to start attending open houses in the area I am interested in and talking to the selling agent for 10-15min... I think that can reveal a lot.