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Posted over 7 years ago

Hiring a sellers agent as your own

I did not have my own real estate agent when I was looking to purchase my 4th rental property. So I decided to use the sellers agent. It had pros and cons about it. The pro was that I was able to get the property but I believe that I paid $5K more than I would have if I had my own agent. I know I it is not a lot in the scheme of things. So on the initial offer, I bid the asking price which the agent suggested but it would have been at-least $5K less if I had my own agent. The agent then called me and said the seller has more offers and asked if I wanted to bid higher. I added another $5K to my initial bid then the agent called me in the evening and said that the seller had accepted my offer. Nothing against the agent but I believe I got the property because the agent was making a full commission on the property so he had pushed to have my offer accepted even when the other offer was at-least $5K more than mine. ( He told me so himself). So I am happy that I got the property but in the future if I use the sellers agent I will not have the agent guide the initial bid on the property. 

Raj     


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