Use a realtor or not?

6 Replies

Looking to buy my 3rd rental, first time as a cash deal, and I'm starting to get leads from wholesalers. Additionally I'm also looking at the MLS. If my deal comes from the MLS, who would walk me thru the transaction? The sell agent? The title company? Do I have anything to lose by using a realtor? Do I negotiate a discount with the seller agent?

Agreed that getting an agent sounds like the best bet for you. Find someone you trust and that invests themselves. That way they know what to look for and what interests are most important to you as an investor.

As a buyer, you do not pay for agent fees unless specifically negotiated that way. Typically, and usually, the seller pays both the buyer agent and the listing agent.

Yuo, I was just wondering if coming into it with no buyer agent, I could split the sellers fee or something.

Then again, I could use all the help with the negotiation.

Originally posted by @Ayne C. :

Yuo, I was just wondering if coming into it with no buyer agent, I could split the sellers fee or something.

Then again, I could use all the help with the negotiation.

Unlikely. The ability to negotiate no buyer side commission is called a variable rate commission. In the states where I am licensed, it is perfectly legal to have this ability, but a variable rate commission must be agreed to in the listing agreement, and must be disclosed in the MLS. If it is not, and the listing agent engages in it, that would be illegal, and he would be subject to disciplinary actions and fines. Ive only seen disclosed in the MLS a handful of times.

If you come in as a buyer with no agent and offer on a property that has a listing agent, the agent will probably try to get a higher fee by offering to represent/assist you in some fashion. Just negotiate out of it if you truly want zero assistance from them.