My friend Aunt B. recently asked her readers for advice about buying her first home and boy-oh-boy did she receive lots of good comments.
The one thing that troubles me a lot, though, is there seems to be an undercurrent of distrust about real estate agents or how to "get them." One commenter wrote,
Lastly, NEGOTIATE EVERYTHING. Realtor fees, closing costs, price, repairs, etc. ALWAYS ask for way more than you will settle for, so you can kick something later, and still be happy.
Yes a buyer can and should negotiate, however be aware that the buyer does not pay Realtor fees in my market (though some agents charge an administrative fee), but the seller pays in a separate contract with their own agent. That agent’s broker then offers my broker the commission to be paid.
If an agent is doing a good job, they will tell the buyer what the house is worth based on the current market conditions. This is where your bargaining will have the greatest impact. If someone has a home waaaay overpriced, then absolutely you should ask for what is fair. But if your goal is to "get" the seller, you run a real risk of offending them and having your offer on a home you love flatly rejected. It can be a tightrope.
Another commenter wrote,
And don’t get an inspector from your agent; get an independent one. And go with them to through the inspection.
Someone agreed,
Ah, so totally second what Ginger and Lesley said an independent inspector. We took one off the list that the agent gave us (because we were new to the area and dumb as rocks) and came to find out that the realtor and the inspector were a “team” — she pushed the houses, he assured the buyer to close the sale. They went to the same church, their kids played together, she had been in his wedding, she was carrying his cards and his personalized pens…
The thing is when you work with a Realtor, their job is to put YOUR needs above their own. Yes, I’ve had repeat business with several inspectors because obviously our work is related. There are some inspectors I do trust and others that haven’t done the job that I expect of them (I don’t give out their names). A real estate professional SHOULD give you several inspectors to choose from that they’ve worked with and not recommend just one. It is up to the buyer to call and interview the inspectors. Don’t be afraid to ask questions, including "How many inspections do you conduct on average each week?" That should help you determine their level of expertise.
Being smart about your home purchase does not preclude trusting your agent to look out for your interests. You and your agent should work as a team to find that perfect home.
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