I’ve invested in real estate for years and write articles on various blogs, and I’m amazed by the number of emailed real estate questions I get because of it.
Recently, I was emailing with a buyer in another state about an offer he was trying to make through his agent. The agent told him that “it is a sellers market in Las Vegas right now and that I should make an offer exceeding the asking price.”
He was not comfortable with this. In a subsequent email, he asked, “Do you think I should find another agent?”
Here was my response:
“Have you signed a buyers agreement with your agent?
A relationship with an agent is a long term one. They are not just someone putting you in their car and driving you around; they will be with you all the way through the closing at the attorney or title company office. The relationship will last months and you have a lot of money at stake. You do not want to be misled or ignored through the paper trail that will be there if you enter into a negotiated contract.
On the other hand, if you find an agent you are comfortable with and they are working well for you, be very loyal to them because working with you as a buyer takes a lot of their time and you want to be sure they are rewarded for their efforts.
Do what you feel comfortable doing. You will be paying this person about 3 percent of your purchase price for their help; make sure they’re guiding you well.”
How would you have advised this person?
