| Nis13 |
| What does it cost to hire one to buy a hosue for you? |
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| SilverZ24 |
| When you are buying, it costs you nothing. The realtor will get 50% of the commission from the realtor selling the house. Plus he probably has several listed where could could get 100% of the commission. But the commission comes from the seller, not the buyer. |
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| Nis13 |
quote:
Originally posted by SilverZ24
When you are buying, it costs you nothing. The realtor will get 50% of the commission from the realtor selling the house. Plus he probably has several listed where could could get 100% of the commission. But the commission comes from the seller, not the buyer.
What if its a private sale? |
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| Bad Egg |
If someone is selling a house privately, and you want to buy it, why would you use a realtor? They don't "buy it" for you, they have no stake in it other than taking a cut of the sale price, aka "the commision". If you want to buy a property for sale by the owner (private sale), then you, or your chosen realtor, have to convince the seller that he should cut the realtor in on the deal. Some private sellers will not even deal with realtors, but it is worth checking if they will.
I have sold a couple of places privately, and I offered local realtors a split of the standard commision if they brought in a client that ended up buying. Some realtors were happy to negotiate, some declined, and one even got snobby about it("We don't negotiate commsions at our company"!). I ended up having the last laugh when an out of town client of the snob realtor came to me after checking out all of his listings. The client ended up buying my house, and the realtor lost an easy 3%.
It sounds like you are a little inexperienced in the real estate area, so a realtor could help you by explaining how the process works and guiding you around some potential problems. This is especially true right now, when prices have gone through the roof and back down over the past couple of years. Unless you are familiar with a lot of comparables, you will not be able to gauge the price as well as a good realtor.
Another important professional in the deal, however, is a lawyer. You really should talk to a lawyer before you think of submitting an offer on a private deal. |
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| Nis13 |
quote:
Originally posted by Bad Egg
If someone is selling a house privately, and you want to buy it, why would you use a realtor? They don't "buy it" for you, they have no stake in it other than taking a cut of the sale price, aka "the commision". If you want to buy a property for sale by the owner (private sale), then you, or your chosen realtor, have to convince the seller that he should cut the realtor in on the deal. Some private sellers will not even deal with realtors, but it is worth checking if they will.
I have sold a couple of places privately, and I offered local realtors a split of the standard commision if they brought in a client that ended up buying. Some realtors were happy to negotiate, some declined, and one even got snobby about it("We don't negotiate commsions at our company"!). I ended up having the last laugh when an out of town client of the snob realtor came to me after checking out all of his listings. The client ended up buying my house, and the realtor lost an easy 3%.
It sounds like you are a little inexperienced in the real estate area, so a realtor could help you by explaining how the process works and guiding you around some potential problems. This is especially true right now, when prices have gone through the roof and back down over the past couple of years. Unless you are familiar with a lot of comparables, you will not be able to gauge the price as well as a good realtor.
Another important professional in the deal, however, is a lawyer. You really should talk to a lawyer before you think of submitting an offer on a private deal.
I've never bought a house before so I am most probbaly leaning towards the realator and a house being sold being sold by a realator... In my mind its almost like buying a car you know nothing about and getting a car salesman to negotiate it for you and exactly guide you through the process...
know any good realtors? |
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| Bad Egg |
I haven't used one in years, so I can't help you there. Do a lot of looking through the weekly real estate guide, and some realtor websites to get a feel for someone who seems at least moderately successfull. The good ones don't waste as much of your time as their less succesfull competition, because they aren't as desperate. The good one will give you the straight goods without the BS, and without trying to sell you something you don't want.
www.mls.ca is you friend. |
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