Post # 1
Darling Husband and I are just starting the home buying process. We are first time homebuyers. A friend recommended a realtor (or I guess they’re really called “buyer’s agents”) that we have been thinking about using. He charges 2.8% of purchase price, but not less than $3000. We will ask sellers to pick up his fees and I guess most do so, but I’m just not sure. Is this a good arrangement or should we try to do it on our own. (We are both lawyers and are comfortable with a lot of the legal/negotiation aspects of the process).
Post # 3
i think you should totally get a realtor. if it’s just about the $, think about it this way: over the 30 years of your mortgage, that $3000 (if you even have to pay it), works out to less than $10/month…
but here are some “real” reasons (and im not in real estate, so this is just my personal opinion); a) they can show you the best houses and more importantly, not waste your time with houses that look good on paper but are actually terrible, b) give you guidance pricing and comps, c) do a lot of digging in town records for information you might not know to look for.
our realtor, who personally i dont think is even very good, is a WEALTH of information about the houses we’re seeing, previous owners, town building ordinances, he comes up with ideas for additions that would work, seems to know everyone in town and has been completely open and honest with us about pricing on houses. if you use a realtor, i would reccomend finding someone who’s been working in your town for many many years, it’s the local expertise that i have found most helpful.
Post # 4
We used one and her fee was paid by the sellers in closing. We were only charged a $150 admin fee.
She was so helpful especially because we were moving to an area I knew very little about. As a first time homebuyer she was very patient and helped point out things we should be looking at and answered all our questions.
Post # 5
When we bought we had a real estate agent, but it didn’t cost us anything. It’s fairly typical that the commission is paid to the selling realtor and then he/she splits it with the realtor that brings the buyer. The SELLER pays the entire commission.
Post # 7
Great–thanks guys. We’re going to go for it 🙂
Post # 8
A little late here, but I would definitely ask around for recommendations for realtors. Also, meet with several until you find one you are comfortable with. We met with a few, but decided to go with a realtor we heard of through a friend. Goodluck with the search!!
Post # 9
A lot of realtor’s have a set up where they only make money on the sale from the seller side. They don’t charge you for anything. That is what my Darling Husband and I just did. Had the coolest realtor. She was awesome and super great helping out some first-time home buyers. Best of luck!
Post # 10
I got confused by the title and then your post- I couldn’t tell if you were talking about just a realtor, or a mortgage broker. I would absolutely use a realtor! Boyfriend or Best Friend and I live together now in NC but he only lived in the area for college and wasn’t familiar with neighborhoods, etc and I moved from another state. Our realtor was amazing and so helpful. It is pretty standard for the seller to pay the realtor fees. We did also use a mortage broker who was able to find us the best possible loan/interest rate, etc.