Using a buyer's agent - Posted by Frederick Waller

Real Estate Investing Real Estate Gurus
#1

Posted by Greg on March 20, 2001 at 09:41:06:

I interviewed with one buyer broker and liked what he had to say and what he could do for me except for one thing. It restricts you from buying any other property without him. This guys contract said that if I bought anything, he get’s a profit even if I found a property by myself. That’s garbage. If you could find a buyer broker to work with you without a contract and still pay him his commission, then it would be worth it. Let me know if you find such a deal. Good Luck

#2

Using a buyer’s agent - Posted by Frederick Waller

Posted by Frederick Waller on March 19, 2001 at 12:35:31:

Does anybody have any opinions on using a buyer’s agent when dealing with purchasing rehab properties

I am asking because I am hoping that a buyer’s agent will look around and work as my scout for the types of properties I am looking for. They can also represent me during the offer and closing process

I am asking because I am 0 for 2 on bidding a property. The last property, I lost out because another guy came by and bid more than me. Either way, it did not seem as though the listing agent was willing to work with me. I realize that they must represent the seller, but, I also read somewhere that by going through the listing agent, you protect his full commission, therefore motivating him to work with you as well.

Any thoughts on buyer’s agents ???
How should I choose one ?
How long should I hook up with one ?

Thanks
Fred

#3

Re: Using a buyer’s agent - Posted by Bob Sutterfield

Posted by Bob Sutterfield on March 19, 2001 at 23:34:42:

Interview a few agents in your area that prefer representing buyers over sellers. Get pre-approved by their “Preferred Lenders”. With a exclusive contract with you the agent will be willing to give you his full attention, honest opinion (because he doesn’t have to worry that some other Realtor is going to over sell you before he does). I always hire my own agent when I buy to occupy or invest and even can negotiate some credits frequently.