luxome
Active Member
realtors are going to hate me for this...but what you should do is to buy with an agent and get him/her to share the commission. 
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Not using a buyer's agent in this market
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harsh
New Member
great info....but when buying a pre-construction condo from the builder do you need an agent? when it comes to the prices they're pretty fixed accept for getting free upgrades and other incentives which you can ask on your own.
I will be a first time home buyer so I dealt with a agent all he did was book an appointment for me, I found the place on my own. I realized afterward this is something I can do on my own(even just walk in) but yet I believe he gets commission and I havent heard from him since I signed the papers!
I will be a first time home buyer so I dealt with a agent all he did was book an appointment for me, I found the place on my own. I realized afterward this is something I can do on my own(even just walk in) but yet I believe he gets commission and I havent heard from him since I signed the papers!
JayBee
Senior Member
An agent can do a lot of bargaining for you, you'd be surprised what they can get out of a builder. I would suggest getting an agent.
harsh
New Member
thanks for responding, but what can they bargain for me
1. I viewed the key plan and chose the suite in the best posisiton(far from the chute lol
2. My suite is the most popluar floor plan
3. secured in writing an credit towards upgrades plus standard laminate living room/dining/granite kitchen
4. worked out a payment plan for 10%
What else can an agent get other than his/her commission?
1. I viewed the key plan and chose the suite in the best posisiton(far from the chute lol
2. My suite is the most popluar floor plan
3. secured in writing an credit towards upgrades plus standard laminate living room/dining/granite kitchen
4. worked out a payment plan for 10%
What else can an agent get other than his/her commission?
JayBee
Senior Member
Just because you got what you thought was a good deal, doesn't mean an agent couldn't have gotten a better one.
An agent can bargain the payment plan....(12 % instead of 20%). Bargain to throw in parking or get it at a lower price. Builders don't mind dealing with agents because if they give the agent a good deal, the agent could possibly bring more buyers. There's more of an incentive for builders to work with an agent.
I guess you believe that you can bargain better than an agent so there's no point in really arguing with you. Your agent was just useless IMO. Not all agents would just sit back and let their client do everything.
harsh
New Member
not trying to argue just to understand b/c the agent(a realtor agent not sure if this is different from a buying agent) didn't do anything and thats my first impression of these folks I know I could have rec'd the same deal w/o him btw parking is included...but if I can get more by all means i'm open minded.
I'm in my 10 day rescission period is it too late to get another agent? I didn't sign anything exclusive with the original one.
simuls
Senior Member
Nothing is fixed. Not prices, upgrades, or parking. It's all negotiable. I've never used an agent either, but use that as a way to get, at a minimum, 2% off list price. In this market, you should be able to get a lot more than a few upgrades - you just have to be prepared to walk if they say no. Which I highly doubt they will. Margins are quite large and nobody's buying right now. The activity is all in resales.
Eug
Senior Member
FWIW (maybe not much),
For both my GF's condo purchase many years ago, and our more recent home purchase, our buyers' agents recommended offering less than what we initially were planning to offer.
For both my GF's condo purchase many years ago, and our more recent home purchase, our buyers' agents recommended offering less than what we initially were planning to offer.
george29
Banned
Hi folks,
I think it is necessary to hire buyers agent when you are going to buy property because Buyer’s Agent’s does for you:
To look for property that best fits the Buyer’s needs
To review pricing policies and trends
To help the Buyer to analyze and select neighborhoods, schools, driving distances, etc…
To negotiate on behalf of the Buyer
To offer support and guidance with mortgages, insurance, warranties, an inspection and repairs.
I think it is necessary to hire buyers agent when you are going to buy property because Buyer’s Agent’s does for you:
To look for property that best fits the Buyer’s needs
To review pricing policies and trends
To help the Buyer to analyze and select neighborhoods, schools, driving distances, etc…
To negotiate on behalf of the Buyer
To offer support and guidance with mortgages, insurance, warranties, an inspection and repairs.
cdr108
Senior Member
Scenic
New Member
I’m looking into purchasing a 928sf condo at $369psf and it comes with one parking. When I asked the rep at the sale office how much discount he can offer, he said 2-3% or something reasonable. Is 3% enough, or can I squeeze him for more?
dpylyp
Active Member
You use a buyers agent
Use the Buyers Agent to protect yourself
http://www.youtube.com/watch?v=QccFPUOn844
The agent has the obligation to inform you of everything that may affect the future value of your purchase, going far beyong merely reading you or showing you the printed listing data.
Use the Buyers Agent to protect yourself
http://www.youtube.com/watch?v=QccFPUOn844
The agent has the obligation to inform you of everything that may affect the future value of your purchase, going far beyong merely reading you or showing you the printed listing data.
Bentley
Active Member
That may be true, but the reality is that the quality of people who become real estate agents is extremely low. Most of them don't know anything other than how to show the property and how to draft an agreement. I've yet to meet an agent who was more informed than myself, and because of that, I've caught them saying or doing things that are questionable. Things that the average person may not recognize, but someone who understand the real estate biz would. For that reason, I will never use a real estate agent. They just get in the way.
PS, that video was horrible. Did they have to read off cue cards? How can you take these people seriously, lol. This is a good example of what I mean when I say the quality of people who are Realtors is just painfully bad.
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dpylyp
Active Member
Thank you for your compliment.
Maybe when you speak to lawyers, they answer questions like a lawyer.
I am sure that Stan Gelman would be flattered that you suggested Stan's ad libbed answered were rehearsed.
Bentley
Active Member
I wasn't specifically referring to him. I get it, he's an old time lawyer, not the liveliest of personalities. My mistake. But the person asking the questions (I guess you) was obviously reading off of cards. Because of that, the video came off sounding very contrived. I apologize for offending you, so lets check it off as constructive criticism.
With that said, why don't we be honest. From my experiences they put pressure on you to raise your offer price, they generally have little to no understanding of macro economics so in times like this where real estate is almost certainly going to drop in value over the coming years, you will hear something along the lines of "real estate will always go up", or "interest rates are low, now is the best time to buy." People who listened to this in 2007 got their clocks cleaned in the US. Many are being drowned in negative equity. Families ruined.
In addition, their motivation is not your happiness or getting you a good deal, it's just getting you a deal. Any deal they can collect their commission from. The interests of a buyer and a Realtor are not aligned and in fact are almost completely conflicting. It's for that reason I think a buyers agent isn't necessary if you've got even a modest understanding of real estate.
It's obvious you feel different, but it's important for the original poster to understand you're biased in your opinion. You and I can agree to disagree, and the original poster can take my thoughts for what they're worth.
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