platinum, you're right, that a fsbo is also looking for the best possible price, but usually every seller has a particular need, that he/she's looking to get met. usually there's a number, that they're looking to walk away with. naturally the 'must have' number is lower, if it doesn't include commission. your less likely to find out the real need if there's one or two agents in the middle. also, with a fsbo it's more likely to get a 'deal, because not every seller knows the market really well. an agent is bound to market the house as the highest possible price or they're leaving themselves open for a lawsuit. unless, of course, it's been discussed with the seller. also, if there's an agent involved and you make a low offer - even though the agent has to present the offer - there's a good chance the agent will talk the seller out of accepting it. low price = low commission it's kind of like the couple, that is starting off with an amicable divorce until their attorneys start to tell each party how much more they deserve. voila - it turns into a viciousl fight. again, if you're happy to full market value - the agent is the way to go. if you're looking to get a deal - the chances are smaller to get one with an agent.
I grew up in Tyler, lived in Tarrant County for many years, made a one year mistake in Florida (sorry fla-tan), and am finally back home again. It feels so good to be back amongst the true TX rednecks.
No offense, you two, but as much as i dislike real estate agents for the very reason described above. A GOOD buyer's agent is absolutely neccessary for a 1st time homebuyer! Why? Because they would rather do a deal period, than worry about an extra hundred dollars commission. and since tracy is first time buyer, I can not stress enough, how important it is to have someone looking at all the small details that escape the anxious homebuyer.
The SELLER is always in control...the seller makes decision always and ONLY even though the seller has an agent... I would never recommend first time buyer to buy FSBO...period...
humblemarc, you're right. as i wrote in an earlier post. for a lot of people using an agent is the right thing to do. and i believe a lot of agents work very hard for their money. i don't dislike agents. it's just that as a full-time real estate investor i have to get 'deals' and not just buy properties. and the way to get a deal is directly from the seller. buying a fsbo is not for everyone.
Exactly, Investors and agents rarely see eye to eye for several different reasons. But that's a discussion for another board. Have you used "Creative Real Estate Online"(CREON)?
humblemarc and charlie, if any of you read creonline, i'm 'michaela-ATL' and i'm all over that board ;-) have also recently recommended this board there heavily.
After the 1st of the year, I plan on spending quite a bit of time on CRE. Welcome to the board! Charlie
Hear is some info from a buyer agent... Top 10 Things A Listing Agent May Not Tell A Buyer: â?¢I work for the seller and have a duty to get my seller top dollar â?¢The price is really high butâ?¦.. â?¢This is really not a good investment but I need a sale... â?¢This house is falling apart and needs far too much work but donâ??t worry about it. â?¢Donâ??t tell me too much about yourself because Iâ??ll tell the seller everythingâ?¦. â?¢Donâ??t tell me how high above your initial offer youâ??re willing to go because Iâ??m obligated to tell the seller. â?¢I canâ??t really advise you how much to offer but full price sounds good. â?¢Listing brokers are bound to the sellers terms/price because itâ??s the seller who pays them. â?¢You need an exclusive buyer agent to represent you because I canâ??tâ?¦As much as you think you have to deal with me; a buyerâ??s agent will work on your behalf, protect your interests and no sellers agent can lay claim to you because they work forâ?¦â?¦ the seller EdG
Realtor from Boston Tracy, remeber one thing. Approved or not, cash is king. Do not let anyone hurry you through the deal, a buyer's broker is a smart idea if you're not well schooled in real estate law or negotiating. Good luck, and remember sometimes voting with your feet can be the best vote of all!
Very true EdG Tracy and anybody else not schooled in real estate, remember one thing above all else ANY REAL ESTATE AGENT THAT IS NOT YOUR BUYER'S AGENT, IS THE SELLER'S AGENT fla-tan
