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Old 03-29-2006, 12:30 PM   #11
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We've done a few online searches with our realtor, and the tools he has are amazing compared to what the public has access to.
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Old 03-29-2006, 12:33 PM   #12
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Quote:
Originally Posted by MOS95B
We've done a few online searches with our realtor, and the tools he has are amazing compared to what the public has access to.
Exactly my point.
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Old 03-29-2006, 01:17 PM   #13
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Originally Posted by J Wikoff
We've been house shopping. The very first house we looked at is the one we like so far. But it was showed to us by a different realtor, and it was the only one she showed us. We've seen several houses with our realtor we've been using since. Is it ethical to have the realtor show us the house, then make an offer? Or do we have to go back to the first one, despite the work the second has done for us? Would the first ever know if we bought it from the second?
We bought our house that way. The realtors just split the commission at the closing. As long as the house sells and they are both making money they were happy. I guess it would be nicer if you were up front and honest with them. Either way it wont be more money out your pocket. Good luck with your house hunting. We too went for our first choice.
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Old 03-29-2006, 01:18 PM   #14
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The system system most realtors around here use is TREND and its really great.
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Old 03-29-2006, 01:20 PM   #15
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Originally Posted by vital49
Real estate....my fav!

First things first, have you signed an Exclusive Right to Buy contract with either realtor? If you have, it'* very simple, you're obligated by contract to make an offer through that realtor. If you don't buy through the realtor you have a contract with, contractually, that realtor can go after you for the commissions that would have otherwise been earned.

If there is no contract, that'* where it becomes an ethical situation. A good rule of thumb is to submit an offer with the original realtor that showed you the property. That'* if you haven't worked with any other realtors in the mean time. Is the realtor on the first home you looked at also the listing agent? If that'* the case, I would NOT use that realtor. They're working in the best interest of the seller, not necessarily you, the buyer.

To keep things clean in the future, use one realtor, exclusively. Don't be scared to sign the Exclusive Right to Buy contract. That'* there to ensure you don't go to another realtor. Basically a non-compete clause. Once they have that in their hands, they'll work very hard for you.

Can you tell I have my real estate sales license?!?!
What test did you take to get your real estate license? How much and how long about?
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Old 03-29-2006, 01:35 PM   #16
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The class was $250. 40 hours long. Took me 4 weeks (only went in the evenings).

The test cost $50.

For right now, I have my license in escrow. I use it to make money off referrals. When I make a referral it'* a 50/50 split for the side of the transaction that I referred. Of that 50%, my broker gets 50%, then I get the other 50%. On a $300,000 transaction, 6% commissions evenly split, I made $1,300. Not a bad deal considering I only have to make a few phone calls...
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Old 03-29-2006, 01:49 PM   #17
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I bought my first house without a realtor and the seller didn't use one either. We did use a title company for closing. However, it took me tons of reasearch and three months to accomplish. Since, I have bought and sold two more houses and, much as I hate to hand over that much money, have used realtors for each transaction.

Ultimately, they probably saved us money and no doubt TONS of time. All for the reasons already mentioned above.

Unless you own and live in an area with a very hot seller'* market, listing a home "by owner" can be a costly mistake. Even then it could cost you a higher sale price, IMO.
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