real estate agents

Maribelle7777 Posted: Jul 17, 2004 07:22 PM

real estate agents

Is it better of in the long run for DH and I to get our own agent or just look at co-ops that we see on websites (realtor.com , etc) or in the papers?

I think I would rather have someone on our side to guide us through the process, rather look on our own.

However, most agents get 6% - is that something we pay to them? For a co-op that's $120G, that's about $9000 - we don't have $9G sitting around to pay an agent!

I just don't know what to do. We have $$ saved but if we get a RE agent then we will have less to put down because we're paying the agent.

Makes me so sad to even think about all this.

Misha Posted: Jul 17, 2004 08:35 PM

Re: real estate agents

If you hire a buyer's broker, the fee is usually worked into the sale price the same way it would for a seller's fee. However, if you were to go out and find a For Sale By Owner, then you would likely be responsible to pay the fee. Either way, the agent would be negotiating on YOUR behalf, unlike an agent that you happen to call because it is their listing.

Helene718 Posted: Jul 18, 2004 04:28 PM

Re: real estate agents

Using a real estate agent when you are buying does not cost you a thing. Technically they work for the seller, so their commission comes out of what the seller receives. We used an agent for our co-op and it was so much easier. In fact, whenever I called him about a co-op that I found on my own on mlsli, it was usually sold already. He told me that by the time the home is listed for the public to see, it is usually in contract already. Also, the real estate agents have access to more listings than we do.