Do i need a buyer's agent?

[andy]

iam a first time home buyer,, looking only for only new house in upcoming communities. i very well know the area where i want to purchase the house,, and i have visited many new communities in my house search.

i see that people advise to a hire a realestate agent for the house search. how far the realestate agent will help me now,, that i have visited almost all the upcoming communities in the area of my search.

Also,, when i visited the communities,, i had to fill in guest forms, where i have noted that i don't have any agents for me. if i hire an agent now,, will this disclosure affect any of my deals?

Advices are appreciated.

Thanks in advance,
andy

[Ethan Hall]

The disclosure would affect whether or not the agent gets paid for their work. If you pick an agent you need to tell them this. You may have a hard time finding someone willing to do this but they are out there.

Agents also have the ability to see brand new listings every day. You may not find out until later.

As a buyers agent they usually do the paperwork, problem solve, know good mortgage companies, inspectors and title companies. Good ones will also check flood maps, sex offenders in the area and have reports on the school system. They also double check the figures on the closing paperwork to make sure you aren't being over charged.

In most cases the buyers agent gets paid out of the sale of the home and only increases the cost by about $150 or so. I think it is $150 well spent.

I am curious to hear what others have to say on this.

[Saodavi]

I would recommend you get a buyers agent. There's generally no charge and as a first time home buyer, you could use the professional advice. Hopefully you'll find a professional Realtor ... some of them aren't very good.

Regarding your having registered already, they might make a stink about it. That's why you should NEVER register with those places. They sell houses. Why do you need to register? I don't "register" when I go talk to car dealers. Get an agent first, and let them advise you on what to do after that point.

[Dan Connolly]

If you register and later decide you would like the representation of a buyer's agent you could always go to the subdivision and tell them that you are represented by a buyer's agent and will only buy if they sign something which would guarantee your agent to be paid in the normal co-op. They will generally comply. Get them to sign that they will not pursue the agent after closing for the commission. They want to sell the homes- they will sign it.

[jackthecramer]

I have always used real estate/buyer's agents and have never had any problems with it. It does seem like you have done a lot of work and may very well be done with the process. But I still think that having an agent would help with the final steps in acquiring so you don't have a risk.. good luck!!

iam a first time home buyer,, looking only for only new house in upcoming communities. i very well know the area where i want to purchase the house,, and i have visited many new communities in my house search.

i see that people advise to a hire a realestate agent for the house search. how far the realestate agent will help me now,, that i have visited almost all the upcoming communities in the area of my search.

Also,, when i visited the communities,, i had to fill in guest forms, where i have noted that i don't have any agents for me. if i hire an agent now,, will this disclosure affect any of my deals?

Advices are appreciated.

Thanks in advance,
andy

[First Time Home Buyers]

Andy,

Even though you have visited the communities already, it's a good idea to hire someone on your behalf. Sounds like this is a new construction development, in which case most builder pay the buyer's agent like a normal transaction. (Commission is based on the sale price, and almost always paid by the seller)

By not having a Realtor on your side, you are walking into the biggest financial decision of your life with no experience. It's a no brainer once you learn that the seller pays the commission.

Besides, you might find a different house not in one of those communities. And just because you filled out something previously that said you didn't have an agent, when you do hire one, you just need to inform them. Simple change.

[jsdomino]

Ditto

[Jeremy Pritchard]

It is not necessary that you should have a real estate agent. But it is highly recommended. Real estate agents can help you access the right people to make a good assessment of the value of your home to see if you are paying a fair price. They also have access to online listings of homes you can not access it easily, so it is possible that the real estate agent to find a home for you to buy that are not in your account. There are many details to buy a house, and probably are not familiar with them, especially if this is your first time as a home buyer.

[Ryocheck]

Having a buyer's agent is a good idea as they do not cost you money typically. I used to work with a new home builder and we would give the same deal to buyers whether they were represented or not. So, if it is not going to cost you, you might as well have an experienced agent represent your interest.

As for already registering at communities, this sometime may limit you but but not always. The builders would much rather have a sale then an argument.

[satxproperty]

As for already registering at communities, this sometime may limit you but but not always. The builders would much rather have a sale then an argument.

Most builders will not have any issue with a buyer coming back with an agent.

But, since most homes are listed on the MLS with a unilateral offer of compensation, how can the builder not accept a buyer that later returns with an agent? (Maybe a case for procuring cause, I don't know; fact is the agent brought the buyer back.)