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the Cost of Buyer's Real Estate Agents

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$ 0
Sep 2007
Lancaster, PA
0 %
Decided against agent from large company  more... close row

Description of service

My husband and I contracted with a prominent real estate agency in our area for a period of six months. There was no initial fee. The agent took a list of the things we were looking for such as the number of bedrooms, bathrooms, land, school district, etc. We also gave the agent an idea of the price we were looking to stay in. At the time my husband lived in the area and I was about 3 hours away looking to move with him. During the six months, the agent continued to send of listings in the general area. The agent had us come in and sit down with a mortgage consultant from the firm. At the time we were told of up front costs we would need such as insurance, inspection fees, etc.

Review of Service

We continued to scan the listings and searched for listings through the MLS on our own as well. We made an appointment to look at several properties with the agent. During the day we were looking at the properties the agent started discussing the money needed to start the process of buying. In addition she gave a negative overview of VA loans. As my husband is a Naval veteran we were looking into that route of lending. We spoke of what we would be comfortable with the monthly payment to be when we found a home we would like to purchase. Three days later, the agent sent us an email saying due to the conversation and the amount we wanted to keep our payment to he/she was modifying the search to a lower priced home. He/she did not ask us if that was okay. He/she merely made that choice for us. Having a family member as a real estate agent in another state I was familiar with being able to make an offer on a property and prices not being set in stone. This choice made by the agent limited what we were looking at through that office. Needless to say, this offended us. There are quite a few homes in this area we are interested in and can afford. That does not mean we cannot make a deal that is good for us. I felt like this agent did not want to "rock the boat" so to speak. That making an offer was something they did not do ofetn. I was under the impression that when you contracted with a real estate agent they worked for you. The fees for this persons service would have been 6% of the buying price had we bought a home with the agents assistance. I feel that the commission was a driving factor in the decisions made.


When looking for a real estate agent ask them some important questions. For example, find out if they are comfortable writing offers for a lessor amount. In addition, ask them what thier service includes.

$ 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
$ 0
Feb 2007
San Diego, CA
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