Quote: (08-11-2016 08:29 AM)Engineer Wrote:
I don't think we ever answered OPs question, how to find a good buyer's agent. Is it possible to find one who works on a flat fee that the buyer pays? Anyone who gets a cut of the listing price is suspect in my book. I would also interview the potential buyers agent and ask for recent references.
What's the benefit you get from paying a flat fee vs a commission? Their commission on a $300k vs $400k house is negligible after all the cutting and 1% or so of 300k is better than 0.
The way I see it, either way the the agent wants to sell you a house as quickly as possible so his time is free for other sales.
It's like a waiter having only 4 tables in a busy restaurant. He wants turnover so he can serve as many new customers (tips) as possible in a given time-frame. No waiter wants a squatter who monopolizes the table.
However a good realtor who is in it for the long haul really wants to build a customer base and reputation. He wants you to be happy so you use him again when you get divorced and need to sell, or to recommend to your friends, etc.
I think the good ones look at it that way anyhow. How do you know who's good and who's not? The only way I think is to interact with them. When you interact with many different agents you get to see who's good and who's not. When you come across a good one, they stand out and those kind of realtors know their worth too.
Also I forgot to mention how valuable it is to find a realtor who's knowledgeable about construction, renovation and maintenance.
Like any business dealing it helps to win over your realtor, make him like you and want to work for you, to want to look out for your best interests.
They will always be thinking of their own of course, but if you get them to like you enough they will give you hints here and there about whether you should buy something or pass. You just have to listen for them.
That's my approach to it anyways.