working with a buyers broker sometimes limiting? - Posted by Randy

Real Estate Investing
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Posted by Sailor on June 07, 2005 at 22:54:33:

I am closing a sale Friday that has been handled by a buyer’s agent. The agent approached me w/2 different clients & the 2nd made a full-price cash offer. There have been the usual RE glitches, & the agent has handled each one w/extreme professionalism & a full measure of creativity. I’m impressed. My (rental) house wasn’t even on the market, yet I’m cashing out virtually trouble-free. I have to salute this agent–in fact I’ve already delivered a packet of chocolate & today I purchased the champagne w/which I am gifting her @ closing. Our area only has one buyer’s-only agent, & she has a solid reputation. This was my 1st experience w/a buyer’s agent, but it has really been a positive one. Part of our deal is that I covered her fee (only 3%) w/my selling price, but she is rebating a bit of it @ closing as a creative solution to a minor inspection problem.

My biggest problem in all of this has been finding replacement properties (decided to double-down this time) to replicate my cash-flow. My regular long-time agent has been very helpful, & I now have 20+ acres (including a MHP) in escrow.

I’d certainly consider a buyer’s agent in the future for myself if my agent retires or working in a different area. Thanks to this particular buyer’s agent I’m booked 1st class on a flight to Costa Rica next week. She earned her chocolates, champagne & commission!

Tye

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working with a buyers broker sometimes limiting? - Posted by Randy

Posted by Randy on June 07, 2005 at 22:30:31:

I know a buyers agent represents the buyer but doesnt it seem alot of times your ready to look at a property and the agent isnt available and then you find that you missed out on a deal or they may not be as creative as you in putting a deal together,they always want you to be preapproved and that sometimes causes you to miss out on a chance to get a property,does anyone feel your best on your own in this?It seems less limiting in your ventures.

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working with a buyers broker sometimes limiting? - Posted by Natalie–VA

Posted by Natalie–VA on June 08, 2005 at 13:49:29:

I think it depends on your expertise. If you have a good understand of contracts, contingencies, financing and market values, then you may be better off on your own.

If you don’t have a good understanding of these things, you should use a buyer’s agent. Maybe the one you have isn’t the right one.