Realtors? or On your own???

Both!

I did a alot of research on my own. But when I found a listing I was interested in I called the person who the house was listed with. We ended up working with about 10 different real estate agents.

My broker is a buyers broker. They sign a contract with the purchaser stating that they work on behalf of their interests. It is very legal here in NY but there are only a few of them.

My broker's name is Tom Miller and his number is (516)826-8100. I'm not sure what area you are looking in but if he doesn't cover it, perhaps he can refer you to someone who does.

Good Luck

Thank you Thank you Thank you!!!!

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Posted by Kriss2c

My FBIL just got his RE license.... legally you cannot have a buyers rep in NY.

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That's not true!!!!

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Posted by Misha

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Posted by Kriss2c

My FBIL just got his RE license.... legally you cannot have a buyers rep in NY.

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That's not true!!!!

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Sorry, just repeating what I was told.

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Posted by jvs77

Just an FYI - if a buyer's broker tells you that they will definitely be paid by the seller only, then he/she is only showing you multiple listing (MLS) homes that include a buyer's broker commission.

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Is that true? I thought that all homes had to split whatever the commission is between the listing agent and any agent who sold the home. I know that some listing agents will take less of a commission for an exclusive.

Hi Maureen! Yes, it is true. (I'm a Realtor.) There are multiple listing homes (MLS) and there are exclusives. For MLS homes there is always a 1) 'listing agent' commission (for the agent who got the listing from the homeowner) and a 2) 'selling agent' commission (this is for an agent who finds the buyer but who works for the Seller). Some MLS listings, but definitely not all (I've seen plenty of them), also include a 'buyers agent' commission. This is for the agent working as a buyers broker who finds the buyer. In order to do so, a contract needs to be signed by the agent and the buyer.

Then, there are exclusives. This is when an agency lists a home and only they will get paid the full commission (for both listing and selling). It is sometimes possible for the buyers broker to work out a deal to receive some of the selling commission, but not always. (B/c, of course, the agency with the exclusive does not want to share the commission.) In cases like this, the buyers broker (depending on what their contract with the buyer stipulates) can be paid by the buyer.

And of course, with for sale by owner homes (FSBOs), the buyers broker will not receive any payment from the seller.

I hope that wasn't too confusing!

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Posted by jvs77

And of course, with for sale by owner homes (FSBOs), the buyers broker will not receive any payment from the seller.

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This is not always true (I'm a realtor too). Some FSBO's will work with an agent who has buyers, it is just that the agent has to negotiate a fee and the owner has to sign something stating he will pay them. It does happen but not all that often and that is why many agents won't take their buyers to FSBO's because they can't guarantee they will be paid.