I Found A For Sale By Owner - How Does My Agent Fit?
Homeowner · Belleville, IL · Member since 2013 · 40 posts · 3 votes
I have a real estate agent helping me find duplex properties in my area. She is a friend and also an investor. She has provided me with several listings to consider and shared her knowledge of the market. I found a possible duplex as a for sale by owner. I ran it by agent and she thinks it is a good choice as well. She told me that she would do the contract for $1375 and that the buyer and seller usually split that cost. Is this normal? I am new and this will be my first real estate property as well as my first for sale by owner purchase.
Since this will be a rental, did you consider posting some of the numbers on this deal in the deal analysis forum, so that BP members can evaluate it and so you can see whether your agent is actually giving good advice?
Some agents really don't give the best investment advice.
I agree with the others who say don't burn your bridges with your agent. Finding a property is only part of the equation, you still have to close the deal. I've offered to pay agents for doing the paperwork in similar situations.
Also FSBO situations can be tricky. Some FSBO sellers have unrealistic expectations of the value of their property and little interest in negotiating anything. I've seen many sit overpriced, only to be listed later with an agent and a price drop.
Since this is your first go-round, I would definitely work with your agent and look to her for guidance on the process. I'm not an agent, but appreciate the role they play. Also consider reputation and how it might impact your future deals.
Terrible advice.
Bolded text told me you don't have a clue.
Agent helps protect from lawsuits. If you don't use her, at least have a RE attorney review your transaction to avoid mistakes like above.
Terrible advice.
Bolded text told me you don't have a clue.
Agent helps protect from lawsuits. If you don't use her, at least have a RE attorney review your transaction to avoid mistakes like above.
An agent isnt a lawyer , a lawyer will help protect one from lawsuits . Agents use a boiler plate contract . " Terrible advice " ? Well I am 5 for 5 so far , thats a pretty good record .
Terrible advice.
Bolded text told me you don't have a clue.
Agent helps protect from lawsuits. If you don't use her, at least have a RE attorney review your transaction to avoid mistakes like above.
An agent isnt a lawyer , a lawyer will help protect one from lawsuits . Agents use a boiler plate contract . " Terrible advice " ? Well I am 5 for 5 so far , thats a pretty good record .
Who created that contract?
5 for 5 means nothing. Everything works till its tested.
Terrible advice.
Bolded text told me you don't have a clue.
Agent helps protect from lawsuits. If you don't use her, at least have a RE attorney review your transaction to avoid mistakes like above.
An agent isnt a lawyer , a lawyer will help protect one from lawsuits . Agents use a boiler plate contract . " Terrible advice " ? Well I am 5 for 5 so far , thats a pretty good record .
Who created that contract?
5 for 5 means nothing. Everything works till its tested.
Who created it ? Since its been 29 years since I bought it , I will have do some research .
" Everything works till its tested" I could elaborate on this statement , but I wont , Its the holiday season .
Terrible advice.
Bolded text told me you don't have a clue.
Agent helps protect from lawsuits. If you don't use her, at least have a RE attorney review your transaction to avoid mistakes like above.
An agent isnt a lawyer , a lawyer will help protect one from lawsuits . Agents use a boiler plate contract . " Terrible advice " ? Well I am 5 for 5 so far , thats a pretty good record .
Who created that contract?
5 for 5 means nothing. Everything works till its tested.
Who created it ? Since its been 29 years since I bought it , I will have do some research .
" Everything works till its tested" I could elaborate on this statement , but I wont , Its the holiday season .
No, who created the "boilerplate" contract realtors use?
Could it be the lawyers from their state association? Therefore, it's tried and true?
Your second paragraph makes no sense.
Terrible advice.
Bolded text told me you don't have a clue.
Agent helps protect from lawsuits. If you don't use her, at least have a RE attorney review your transaction to avoid mistakes like above.
An agent isnt a lawyer , a lawyer will help protect one from lawsuits . Agents use a boiler plate contract . " Terrible advice " ? Well I am 5 for 5 so far , thats a pretty good record .
Who created that contract?
5 for 5 means nothing. Everything works till its tested.
Who created it ? Since its been 29 years since I bought it , I will have do some research .
" Everything works till its tested" I could elaborate on this statement , but I wont , Its the holiday season .
No, who created the "boilerplate" contract realtors use?
Could it be the lawyers from their state association? Therefore, it's tried and true?
Your second paragraph makes no sense.
And it could be the same lawyers that wrote the contract that I have used . 5 out of 5 ......Therefore its tried and true .
"Your second paragraph makes no sense."
Think a bit
If I was in your position I would try to negotiate the amount your friend is asking for if it feels a little high; but keep in mind, you did ask for her help, she is a friend, and at the end of the day $1300 is still pretty cheap "real world" experience vs what some of the "boot camps" and guru programs run for.
AND
congrats on your first deal!