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Old April 12th, 2013, 04:51 PM   #1
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Default Mortgage question

So my wife and I are looking to buy a home down here in MO. We found a house we want to make an offer on and have the 20% to put down. We have dealt with 2 agents and they both have pissed us off and are doing shitty jobs. My question is if I am already pre-approved do I really need an agent? If so for what?
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Old April 12th, 2013, 05:08 PM   #2
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Be more clear .......

Agents are by law , representing the seller UNLESS they are contracted as buyers agents. They do receive their pay from the seller unless they are (again) contracted by a buyer to find them a house . Thats where it gets a little cloudy as to how they get paid...........
Any Professional agents here feel free to clarify this.
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Old April 12th, 2013, 05:25 PM   #3
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you don't need a realtor. All they do is show you where to sign and show you where the light switches are.
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Old April 12th, 2013, 05:53 PM   #4
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Some realtors are smoking hot and do fancy favors for sales.
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Old April 12th, 2013, 06:04 PM   #5
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get the fukc out!
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Old April 12th, 2013, 06:07 PM   #6
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When I bought my home I used the selling agent. Went smooth and I got the home for less than they were asking.
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Old April 12th, 2013, 06:14 PM   #7
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You don't need a realtor, either to sell or buy. You might be able to see what the terms are. Usually something like 2-3% of the sale goes to pay each realtor. If you don't have one, sometimes that money just goes to the seller, or it goes to the sellers realtor that makes a double commission. Maybe they will negotiate it lower to make the deal (I haven't run into that, though).
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Old April 12th, 2013, 09:06 PM   #8
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I told you I had a realtor for you. If you're looking in west county shoot me a PM and I'll get you in touch. She is a good friend and a GREAT realtor. She sold our house in Wildwood in 5 weeks...the house next door sat for 9 months. She paid to have the house staged and had good contractors lined up for minor repairs following the inspections. Seriously, shoot me a PM if you'd like me to introduce you.

BTW, in almost all cases the seller and buyer realtors split the commission paid for by THE SELLER, not the buyer. There is almost no reason not to have a realtor as a buyer.








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Old April 12th, 2013, 09:25 PM   #9
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Quote:
Originally Posted by itselliott View Post
Be more clear .......

Agents are by law , representing the seller UNLESS they are contracted as buyers agents. They do receive their pay from the seller unless they are (again) contracted by a buyer to find them a house . Thats where it gets a little cloudy as to how they get paid...........
Any Professional agents here feel free to clarify this.
Sorry I meant a buyers agent.

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you don't need a realtor. All they do is show you where to sign and show you where the light switches are.


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Some realtors are smoking hot and do fancy favors for sales.
I wondered why Casey said she wanted to go into that field.

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Originally Posted by amc78cj7 View Post
I told you I had a realtor for you. If you're looking in west county shoot me a PM and I'll get you in touch. She is a good friend and a GREAT realtor. She sold our house in Wildwood in 5 weeks...the house next door sat for 9 months. She paid to have the house staged and had good contractors lined up for minor repairs following the inspections. Seriously, shoot me a PM if you'd like me to introduce you.

BTW, in almost all cases the seller and buyer realtors split the commission paid for by THE SELLER, not the buyer. There is almost no reason not to have a realtor as a buyer.

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We ended up in northern St Charles north of 70 up near 370. I am working at the airport and didnt want more than a 20 minute drive to work. I'll shoot you a pm with my info. Thank you.
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Old April 12th, 2013, 10:47 PM   #10
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Quote:
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BTW, in almost all cases the seller and buyer realtors split the commission paid for by THE SELLER, not the buyer. There is almost no reason not to have a realtor as a buyer.
This is how I understand it as well. The seller has agreed to the average 6-7% of sell price for realtor fees by listing the property with a realty company. If it just involves the listing agent (seller's agent), then the whole amount goes to them. If the buyer has their own agent (buyer's agent), then the 6-7% is split between the two realtors. So I agree that there would be no reason as a buyer to have a realtor. And I just signed the closing papers on Thursday.
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Old April 12th, 2013, 10:56 PM   #11
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This is how I understand it as well. The seller has agreed to the average 6-7% of sell price for realtor fees by listing the property with a realty company. If it just involves the listing agent (seller's agent), then the whole amount goes to them. If the buyer has their own agent (buyer's agent), then the 6-7% is split between the two realtors. So I agree that there would be no reason as a buyer to have a realtor. And I just signed the closing papers on Thursday.
I think you either mis-typed or mis-understand. As a buyer you should have an agent, but you are typically not required to pay any fees to said realtor (make sure this is so in any contract you sign). Their commission comes from the selling agency at closing.
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Old April 13th, 2013, 03:24 AM   #12
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Some realtors are smoking hot and do fancy favors for sales.
I need to go house hunting with a different realtor.
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Old April 13th, 2013, 05:33 AM   #13
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To simply answer your question... yes. I bought a home with no Realtor. Sucked balls. I did have a mortgage/ loan officer who worked on my behalf, but having a Realtor would have GREATLY reduced my headache.
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Old April 13th, 2013, 06:48 AM   #14
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Originally Posted by amc78cj7 View Post
I think you either mis-typed or mis-understand. As a buyer you should have an agent, but you are typically not required to pay any fees to said realtor (make sure this is so in any contract you sign). Their commission comes from the selling agency at closing.
Correct, I mistyped and left out a 'not'. There should be no reason to NOT have a realtor as a buyer.

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