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Home Buying Etiquette

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katycoo:

--- Quote from: magicdomino on January 09, 2011, 06:21:33 PM ---
--- Quote from: Larrabee on January 09, 2011, 05:26:29 PM ---
So as a buyer you have an agent yourself who takes you to properties for sale?  That's a new concept to me, does the buyer's agent make a commission from the sale?  Is it the same agent you're using to sell? 

Here, an estate agent sells properties, or manages rented ones, they work entirely for sellers or landlords never for buyers or renters.

--- End quote ---

Yes, in the U.S., most buyers would have their own agent.  The agent's job is to sort through the multiple listing service to pick out the best prospects, make appointments for showing, escort the buyers (this may or may not include driving the buyers), then help with buying the home.  For this, the buyer's agent gets between 1% and 3% of the home price as commission.  Some agents specialize in buyers only; others handle both buying and selling.

By law, real estate agents for the seller are required to work in the seller's interests.  If you find the house on your own, for instance by driving by a for-sale sign, you can probably skip having your own agent, but it is still recommended that you have your own real estate attorney or other professional to double check the fine print.

--- End quote ---


--- Quote from: DangerMouth on January 11, 2011, 01:10:00 PM ---There's a feeling that it's unethical for one agent to represent both both the buyer and the seller. You can't be looking out for my best interests if you are also looking out for their's, kinda thing.

--- End quote ---

Its definitely unethical for a conveyancer or lawyer to act for both parties, but not agents.  I suspect Larrabee is Australian too.  We do our own research (there are 2 major housing sales/rental websites pretty much everyone use) and when you find a place you like you can contact the seller's agent about it.  Public open homes are the norm, so you just turn up at the advertised time if you want to see the house.  Private inspections can be arranged if you cannot make the open home.

DoubleTrouble:
Selling our house right now, it's been fairly smooth with the showings (our agent uses an app called ShowingTime to schedule appts, love that app!) but we had one last week that rubbed me the wrong way.

- Scheduled an appt for 6-6:30 which is right during dinner for us but OK I can deal.

- Loaded the car up with two 5 yr olds & a dog & went to McD's drive through as it was raining. We ate in the car & managed to kill a 1/2 hour that way.

- Came back at 6:40 ish & found that the people were just going into the house :o  Fine I can wait. Find a spot on the street where I can watch the front door. Remember 2 kids, one dog & it's getting near bedtime.

- Wait for the next 30 minutes for the people to get through the house & then they decided to take a walk through the neighborhood. Which would have been fine except they were parked in the driveway & I couldn't get into the garage.

By this time they actually left, the boys were climbing all over the car like ants (remember it was raining, can't go to the park!) & the dog was getting really irritated & barking at every one that walked by. I was *thisclose* to getting out of the car to ask them to move their car but I really need this house to sell so I sucked it up as much as I could.

So please be on time & if you are late, try to make it quick especially if you can tell someone is still living there with small children!

Morty'sCleaningLady:

--- Quote from: DoubleTrouble on June 01, 2014, 07:31:41 PM ---Selling our house right now, it's been fairly smooth with the showings (our agent uses an app called ShowingTime to schedule appts, love that app!) but we had one last week that rubbed me the wrong way.

So please be on time & if you are late, try to make it quick especially if you can tell someone is still living there with small children!

--- End quote ---

My sister had something similar.  She's got a 3 1/2 year old and a 1 year old.  The house was under agreement and the buyers wanted to check on a small furnace repair and measure the rooms.  So, Sis budgeted an hour at 6 PM.  She returned home after about 60 minutes to find them still there.  The buyers were there for over 3 hours!  The buyers brought a handy man who took his time going up in the attic, doing stuff in the basement, etc.  This wasn't measuring for furniture layout and paint purchase estimates.  It was a second home inspection!  (The first inspection had lasted 8 hours, which is pretty intense.)  The 1 year old was in a full on tizzy, since it was after his bedtime.

GreenEyedHawk:
I had the reverse problem...when I bought my home. we emphasised to all involved that this was time-sensitive.  I was living in a house owned by my room-mate, who was unexpectedly given custody of his ten-year-old daughter, so I had to be out of the house before she moved in.  We had to make it happen within a month.

Everyone was great except the listing agent for the house I bought, who hardly EVER returned our calls...it usually took several calls over two or three days to get hold of him.  My theory is because the house was a foreclosure and he was a listing agent for the bank that we were not his highest priority.

The second person who dragged his feet was the lawyer i used...my parents' laywer...who put us off, rescheduled on us and just generally jerked us around until my mother and I showed up and his office first thing in the morning and she very politely but firmly told him that he would indeed be seeing us today.  The entire thing took probably less than an hour, I have no idea what the holdup was.

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