s/o same agent handling sale of current home and purchase of new one

[Anonymous]

Having the same agent handle the sale of current home and purchase of new home can result in getting a discount. However, in a situation where there will be a time gap between selling current home and buying new one, is it worth using the same agent, if the agent has deep expertise in the current neighborhood but not much expertise in the target neighborhood? Or is it better to forgo a potential discount of 1% in the agent's commission and instead use two different agents, each with deep expertise in the relevant neighborhood?

[Anonymous]

I think that's something only you can answer. Is the discount worth it to you?? If you're trying to buy in a super hot area where things routinely sell before even hitting the MLS, I would think it's absolutely worth giving up the discount to get the house you want. In a more normal neighborhood, you might go for the discount.

I used the same realtor for my sale and purchase because my realtor had grown up in the area where I was selling and now lives in the area where I purchased, so she knew both areas pretty well. (In my case, it was Fairfax and Arlington.)

[Anonymous]

Not OP. What does the discount have to do with landing a place?

[Anonymous]

Anonymous wrote:I think that's something only you can answer. Is the discount worth it to you?? If you're trying to buy in a super hot area where things routinely sell before even hitting the MLS, I would think it's absolutely worth giving up the discount to get the house you want. In a more normal neighborhood, you might go for the discount.

I used the same realtor for my sale and purchase because my realtor had grown up in the area where I was selling and now lives in the area where I purchased, so she knew both areas pretty well. (In my case, it was Fairfax and Arlington.)

OP here. Thanks. Yes, I was thinking in terms of selling in a hot area and purchasing a new home in another hot area -- both hot, but not super hot like North Arlington. The 1% discount would amount to about $8,500. From your point above, I gather than $8,500 is not really worth it, and, given that I will sell then rent back or short term rent for a few months and then buy a new place, perhaps I should think of using an expert in my current neighborhood and then switch to an expert in my target neighborhood.

[Anonymous]

Relatively new to house hunting in the area. Is Bethesda / Chevy Chase considered a very hot area where things routinely sell before hitting MLS?

[Anonymous]

OP, do you already have a listing agent? I might focus more on the buyer's agent with the connections in the area where you're looking, assuming that in this current market, a good agent wouldn't need to be the expert on your current area. So you could have that one agent for both transactions and hopefully get the discount.

$8.5K isn't chump change, but it's only a couple-few months of mortgage payments over the period you'll own the house, so I'd be more concerned about finding a great house than saving $8.5K. (And I'd assume that Bethesda/CCMD is a hot market in certain price ranges.)

[Anonymous]

Anonymous wrote:OP, do you already have a listing agent? I might focus more on the buyer's agent with the connections in the area where you're looking, assuming that in this current market, a good agent wouldn't need to be the expert on your current area. So you could have that one agent for both transactions and hopefully get the discount.

$8.5K isn't chump change, but it's only a couple-few months of mortgage payments over the period you'll own the house, so I'd be more concerned about finding a great house than saving $8.5K. (And I'd assume that Bethesda/CCMD is a hot market in certain price ranges.)

Thanks. Given that we are picky about the ideal house to buy (which calls for hiring an expert on the target neighborhood, as you suggests), we might sell, then go on short-term rental for a few months to take our time to find the right house, and then buy, what is the reasonable length for the "gap" between selling and then buying -- reasonable for the agent to lower her commission?