Anyone working in real estate (not mortgages)

Here's the situation. FH and I saw a house today we REALLY like and hope to make an offer. The only way I found it was through a real estate agent I have been in contact with for over 6 months (although there could have been many other ways if I didn't work with her). Now, are we supposed to go back to her and say, 'One of the house listings you sent us had an open house and we want to start negotiations' or do we just go through the REA seller of the house? The seller REA was kind of overbearing and I want someone who has best interest of us not just the seller but we don't want to spend extra money having someone help us out. What do we do?

ETS: We do not have a contract with any REA or broker so we're not tied to the one that has been sending me listings.

u don't pay your broker extra - the seller's agent and ur broker will split the commission - i think it's in your best interest to go with ur own broker

goodluck!

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Posted by MD835

u don't pay your broker extra - the seller's agent and ur broker will split the commission - i think it's in your best interest to go with ur own broker

goodluck!

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We do have a broker that I completely trust. FH just said F our REA, but I feel bad. She did send us the listing and I want someone to guide us through our process. I just want someone to look out for us.

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Posted by MissMath

get your own REA....the REA of the house will have the owners best interest in mind....you want someone on your side

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Exactly, we want someone on our side and this person has been so patient with us from the beginning! I was thinking of just telling her we found something so HELP! lol

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Posted by Mici n KC

We do have a broker that I completely trust. FH just said F our REA, but I feel bad. She did send us the listing and I want someone to guide us through our process. I just want someone to look out for us.

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Not in real estate, but wanted to offer my opinion ...

It doesn't cost you (the Buyer) anything to use the broker you were working with, and if you trust them then I would definitely use them .... especially since she sent you the listing .... and its better to have someone working on your behalf IMHO.

If you didn't use the broker, then I'm pretty sure the seller's broker gets the whole commission. That's probably part of the reason why she was on the pushier side.

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Posted by PreshusSmurf

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Posted by Mici n KC

We do have a broker that I completely trust. FH just said F our REA, but I feel bad. She did send us the listing and I want someone to guide us through our process. I just want someone to look out for us.

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Not in real estate, but wanted to offer my opinion ...

It doesn't cost you (the Buyer) anything to use the broker you were working with, and if you trust them then I would definitely use them .... especially since she sent you the listing .... and its better to have someone working on your behalf IMHO.

If you didn't use the broker, then I'm pretty sure the seller's broker gets the whole commission. That's probably part of the reason why she was on the pushier side.

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The person we used was a real estate agent not a mortgage broker or are real estate agents and real estate brokers the same thing? I have no clue! I'm so lost and don't want to be screwed in this process!

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Posted by Mici n KC

The person we used was a real estate agent not a mortgage broker or are real estate agents and real estate brokers the same thing? I have no clue! I'm so lost and don't want to be screwed in this process!

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As far as I know, a broker has a higher level license than an agent .... like, brokers tend to have their own offices or manage offices .... and the agents work for brokers.

Mortgage brokers are different altogether ... they deal with the financial end of the sale ... getting the loan together, etc.

What I meant to say is that you should have an agent of your own.

Sorry if I mixed you up!

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Posted by PreshusSmurf

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Posted by Mici n KC

The person we used was a real estate agent not a mortgage broker or are real estate agents and real estate brokers the same thing? I have no clue! I'm so lost and don't want to be screwed in this process!

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As far as I know, a broker has a higher level license than an agent .... like, brokers tend to have their own offices or manage offices .... and the agents work for brokers.

Mortgage brokers are different altogether ... they deal with the financial end of the sale ... getting the loan together, etc.

What I meant to say is that you should have an agent of your own.

Sorry if I mixed you up!

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Ok, so regardless I need someone from an agency on our side. I'm so confused with all this lingo lol. I do appreciate your advice! Thanks!

FOr what I understand is unetical for the Rea of the seller to start representing you if he know that you are working with another Rea, I will recomend you to go back to your Rea and tell him that you found a house he will work for your interest and what is best for you while the other one his 1st interest is to make the sell.
Now REA broker is like a manager while REA agent is below him.... if you are working with the broker he have more experience and (most time) is better prepare
Mortagage broker is a another story

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Posted by loy0405

FOr what I understand is unetical for the Rea of the seller to start representing you if he know that you are working with another Rea, I will recomend you to go back to your Rea and tell him that you found a house he will work for your interest and what is best for you while the other one his 1st interest is to make the sell.
Now REA broker is like a manager while REA agent is below him.... if you are working with the broker he have more experience and (most time) is better prepare
Mortagage broker is a another story

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We didn't mention anything to the seller's REA other than we have a mortgage broker we will work with so they wouldn't know. I just want to make sure I have someone looking out for my best interest.

LIFamilies has a good Home board ... lots of knowledgeable people who seem to always be willing to answer any questions ...

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Posted by PreshusSmurf

LIFamilies has a good Home board ... lots of knowledgeable people who seem to always be willing to answer any questions ...

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Thanks, I'll sign up and check it out!

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Posted by DiamondPipa

Definitely go to your broker!!!! You will not pay one penny! Also, you want your broker to negotiate for you....our broker was amazing, we were negotiating hardcore and she was on top of everything!!!! You need someone on your side!

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Thank you! I definitely will be in contact with her!

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Posted by Mici n KC

Bump

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My brother in Law is a real estate atty and has his own agency. He's been showing us houses. YOu definitely need your owner REA!!! Call her and get her to start negotiating!!!!! Don't do it alone!!!!

My brother in law is actually putting in an offer today for a house that we saw this weekend!!! They know where a good start is in the negotiations!!!!

Just purchased a home over the summer. You should go with the broker that the seller is using for one reason...

they will be more likely to talk to the seller down in price or into accepting your offer, if they are not splitting the commission. It seems easy to just use who you trust, but really the market is so bad right now, they are all looking for what is in their best interest.

We went to so many open houses, and we used a realtor for a few months, but got much further on our own...GOOD LUCK to you! It is the best thing we did together!

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Posted by 111508Bride

Just purchased a home over the summer. You should go with the broker that the seller is using for one reason...

they will be more likely to talk to the seller down in price or into accepting your offer, if they are not splitting the commission. It seems easy to just use who you trust, but really the market is so bad right now, they are all looking for what is in their best interest.

We went to so many open houses, and we used a realtor for a few months, but got much further on our own...GOOD LUCK to you! It is the best thing we did together!

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That's what other's have been saying too. We have a mortgage broker in our family and we completely trust him. I think we might just work with him and get advice from him so we don't get screwed since the RE brokers would have to split the commission and would want what's in their best interest - ie a higher price home.