Random Real Estate Agent Question

[Anonymous]

Anonymous wrote:
An observation on the market - we're looking to buy and we saw every house worth looking at go under contract in June (while we were foolishly on vacation). We are still dumbfounded - either it's signifying a change in the market or June is just a big month for home sales.

that's my observation too (maybe we're looking at the same zipcode?). but i've since made peace with the market. i'll buy wherever our budget can get us as long as school is great. 1-hr commute? so what if i can save $1K/mo.

[Anonymous]

Yes, I think the 6:58 poster is extremist. All signs indicate that the state of the D.C. market can't be generalized - it really differs location by location. Even the Harvard article she cites states that things haven't been this bad since WWII; well, in the D.C. area in that era the market was crazy - I had a co-worker who said it was impossible to rent or buy, because there was such great demand for housing in the area.

[Anonymous]

Anonymous wrote:Yes, I think the 6:58 poster is extremist. All signs indicate that the state of the D.C. market can't be generalized - it really differs location by location. Even the Harvard article she cites states that things haven't been this bad since WWII; well, in the D.C. area in that era the market was crazy - I had a co-worker who said it was impossible to rent or buy, because there was such great demand for housing in the area.

6:58 here. What are your qualifications? I work for the banks. Not an extremist, just someone who is in the business.

As I stated before. Properties priced right in desirable neighborhoods sell quickly. Priced right is subjective for sellers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yeah, right. If we're going to do all the work, why let them take a percentage. The only benefit to using a realtor that I can see is that it's easier to get in to see houses.

I felt I did most of the work the last time we bought, too. However, I think the commission will be paid anyway - the seller's agent will just keep it (unless you negotiate something there). And, you need someone to let you in....
An observation on the market - we're looking to buy and we saw every house worth looking at go under contract in June (while we were foolishly on vacation). We are still dumbfounded - either it's signifying a change in the market or June is just a big month for home sales.

We've talked to seller's agents at open houses, or just by calling them (before we had an agent) and most were okay with my husband's proposition that we could buy without an agent and just take that 2-3% that a buyer's agent would receive off the price. If we weren't in a new city, we probably would have gone that route. Next time.

[Anonymous]

Consider finding your home on craigslist. We bought from the owner on craigslist, no agents, no commissions. Everything went smoothly.

[Anonymous]

Anonymous wrote:

Wow so untrue. There is a disclosure you sign that identifies for you that the even your agent reqpresents the seller's interest not yours. Unless you have a buyer's agent receiving a flat fee from a non represented company, you need to understand that the realtor is not representing your best interest. Signing with an agent when you are buying will in some cases put you in the position of being pushed toward listings with their company. Many agents avoid for sale by owner when the seller offers a lower commission or no commission.

Agents make money from fast sales and turning the property around quickly and the amount of the sale per commission. Everyoe should keep this in mind. Oddly, sometimes the seller's agent can be incentivized the other way. If they drop the price below market, it will sell sooner. The % lost on commission may be smaller than months of carrying a property.

All the disclosure states is that the seller [ays the agents, not the buyer. This is not saying that the buyer's agent is looking out for the seller.