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the Cost of Buyer's Real Estate Agents

Price 
Location 
Commission 
Submitted by  
Description
$ 0
Sep 2007
Lancaster, PA
0 %
Decided against agent from large company  more... close row
$ 0
Apr 2008
Houston, TX
0 %
Buyers real estate agent charges no money from buyers  more... close row
$ 0
Sep 2007
Stroudsburg, PA
Buyer's agent gets paid by seller  more... close row

Description of service

I utilized the use of a real estate agent to search for a home. The particular agent I worked with did not charge me anything. She explained to me that she was working as my agent in the capacity of what is now called a buyer's agent. She receives compensation through the seller of the home that I would eventually buy, in other words, the commission that a seller pays to their agent then gets split between the seller's agent and the buyer's agent. She did explain to me that there are some agents who will request payment from their buyers. This is usually if the seller's commission amount is not what they typically receive. Another instance that they may request the buyer to pay them is if they ultimately purchase a home that is not listed with a real estate company, such as a "for sale by owner". The realtor researched homes for me to look at, determined if they were priced accurately by doing comparable market analysis, arranged the showings and assisted me with finding inspectors, mortgage companys, etc. She also gave me information regarding the area I was looking for homes in, including school information and where the local post office, police station, etc. were located.


Review of Service

I was very pleased with the service I received. The agent I used had several years of experience and was very knowledgeable along with being very friendly and easy to get along with. I happened to just get lucky ending up with this particular agent, I phoned her office after seeing an ad in a real estate publication that I picked up at the local grocery store and she was the agent that was on duty that day. The home I had called to inquire about was already sold. She asked me what exactly I was looking for and also what area and price range. I told her basically what I was interested in and gave her my email address. Later that day she emailed me about twenty listings with complete details and interior photos and a note that if I did not care for any of these to call her and let her know what I liked or did not like about them. I actually found that eight or ten of them were exactly what I was looking for and immediately called her the next day. She said that a few of them were appointment only, so we set a day and time and got shopping!


Tips

I think the most important thing when looking for a real estate agent is to find someone that you feel comfortable with. You end up spending quite a lot of time with this person, so you really need to like them! Of course they should also be knowledgeable and dependable. It's also a good idea to get a pre-qualification letter from a mortgage lender before you run out and start looking at houses. This way you will only go look at houses that you can afford. It can be frustrating if you look at a bunch of homes that you fall in love with and then discover later that you cannot afford them. Or you could be looking at lower priced homes when in reality you can afford higher priced (nicer) ones! Ask questions - there are no dumb questions! It's better to ask so that you understand everything involved. However, a good agent should be explaining every step to you and verifying that you understand. Read everything you sign. This may sound obvious, however, there will be a lot of paperwork put in front of you throughout the entire process and you may end up just signing without even knowing what you're putting your signature on.


$ 0
Feb 2007
San Diego, CA
0.00
Dealing with real estate agend from 3000 miles away  more... close row
$ 0
Apr 2007
Baltimore, MD
Arrangement with seller's agent meant no charge  more... close row
$ 6000
Sep 2007
Dallas, TX
2.5 percent
Buyer's real estate agent knows neighborhood well  more... close row