I'm going to look at a home tomorrow. I've never done it before and I'm wondering is the real estate agent going to try and "sell" me the house or will he give me the facts and even point out some things to look at that may cause me problems? What're your experiences?
It depends on where you live. In BC Canada there is a huge list of thing the adgents can and can't do. Some places, like where I live now, we were 100% on our own. Just remember until you hand them your hard earned money, they are your best friend, just ask them, they'll tell you. Actually they want your money, they don't care who you are or if the house has been condemed. They will try not to lie, so if you ask a question write down their answers. I don't think they really mind telling a lie, they just don't want to get caught, don't forget their your best friend.Thats all you need to know about realtors, Does that sound like a used car salesman? I think so! PS with the way the economy is going don't be in a big hurry to buy. Prices are coming down and the banks are getting ready to lower their rates again
Im a Car Salesman.... I hope Real Estate agents make more.
After a decade in commercial real estate I can firmly state yes they are like car salesmen, but worse! They are rude, crude, and laugh about the people they have ripped off. Most are uneducated and rely on naive buyers who think they need to use them. Training consists of two weeks of classes and an easy test. The Managers at these offices just place people at desks and tell them good luck. That's it. Then they'll take half of the commission. Brokers will never give you a straight answer, only care about the commission, so have a serious conflict with their clients. These people are a serious problem to society when one considers that the largest investment most people will make is their house.
A good real estate agent is most certainly not like a car saleman. A good agent will spend alot of time with you finding out exactly what you are qualified to buy in the real estate market. (I am assuming that you have already been prequalified for a loan?) They will build a relationship with you so that they are best able to understand your needs and help try to get you into your dream home. They should be able to give you all the facts about the house...the good and the not so good. (There are many disclosures that are required by law to be made by the owner of a property. And, the real estate agent should have that information for you.) They should be able to tell you all about the neighborhood that you are looking to move into - info about schools, shopping, special attractions. They should, if they are a buyers agent, or if they have dual agency, help you craft and negotiate an offer that will be acceptable to the owner. I have worked as a real estate agent in NYC and I have also purchased property through real estate agents. Take your time and find an agent that you click with. And keep them. Hope this helps.
One big thing you have to remember is the agent gets paid by selling the house. The agent does not work for you since he gets paid by the seller and the higher the sales price they negotiate, the more commission they get. Of course there are a few good buyer's agent out there but you won't know who's good and who's bad until it's too late. Just make sure you do some other research via zillow or other online services just to be sure you are no overbidding on a property especially in a declining market. PS. don't look at the value zillow gives you. Look at the sales comparables and compare the square footage to the house you're planning to buy.
