Follow-Ups to Answer from Expert Vito Simone of Tenant Buyer Homes

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Strom wrote at 2006-07-15 16:20:27
Vito has good advice, but needs some clarification.  He (she?) stated "A good Buyer's Agent can help you find bargains".  A buyers agent is nothing more than a title agents came up with to make you feel like you are getting more.  WHAT YOU WANT IS AN "EXCLUSIVE BUYERS AGENT".  Make sure you and your agent sign an agreement before doing anything stating this, you will be protected by law!  The agent is now working for you and cannot, by law, disclose sensitive information to the sellers.  For instance, if you offer $100,000 for a house, but tell "your agent" that you'd be willing to pay $105,000, he's gonna go tell the sellers that!  Then, when they counter higher, you come back with $105,000 (like you said you would) and "your agent" makes more on the commission!  If you had an exclusive buyers agent, he can't tell them that info and if he does, you can sue the crap out of him to recoup that $5000!!!!!!!

Also, Vito said "stick with them".  This is crap.  If your agent sucks, FIRE THEM!  That's right, you hired them, you can fire them!!!  Even if you want to buy a house they showed you and signed an agreement with them.  Most agents will let you go just to salvage some of their reputation.  Normally the new agent you get will split the commission with your old agent on a house they showed you, so everyone will be happy.

The bottom line is that buyers need real representation and don't be afraid to tell your agent what to do and fire him/her if they suck!

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