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:lol: that's a pretty funny critique.

I was curious about the retainer fee, so I asked around & some firms do have this fee just to avoid confilcts perhaps. Go figure.....

Anyway, thanks for that input noobdog1. He's just 1 of a few agents I'm still inteviewing.

Got another agent I'll interview today. Let ya know how it goes.

Thanks
Fess

Hello,

I need some input on "buyers" representation I interviewed today.
This guy was referred by the www.naeba.org
I checked him/his company out on the BBB.org & did not see any negativity.

I'm looking at a property (co-op) in Queens New York.
Its $159,000 & $855 in maintenance including gas/electric.

After meeting with this gentleman (he was very late):nono:, I explained to him that I'm was looking to situate my parents in more safe dwelling as I leave for school.

He was somewhat unprepared for our interview stating "research was done on the property but I left it home". We pulled up the property on his PC & he made some calls etc.

I told him the target price I'm seeking (under $200,000), & I observed his method for searching properties on the PC, which was for $220,000, he was confident he could negotiate the price down.

Regarding the fees. He carries a 3.5% fee payable from the purchase price.
He wants a initial fee of $495.00 upfront in the form of a check which will not be cashed until I agree to use his services to acquire the property.
This $495.00 will be subtracted from the 3.5% commission.

After we had gone through the minutia details, he states that he would assign one of his employees to handle my acquisition of the property.
I though I'd be dealing with him, not a employee.

I've got a few other agents to interview, but would very much appreciate and critiques regarding the above situation. :shock:

Regards
Fess

noobdog1,

Thank for the input. 8)

Some of your response was convered in my books.
I'm aware of the co-op breakdown, but wanted to know if share prices are neogitable or set in stone.

You being from New York, can you recommend a good source for "Buyers" agents? :idea:

Regards
Fess

Hello,

I'm slowly easing through the process of purchasing into a Co-op via my books.

I've read that when purchasing a house, have a "Buyer's Agent" on your team is a must. Understandable....

But I'm purchasing a Co-op, do I need a "Buyers Agent"? :idea:
The PRICE of the shares for a Co-op are neogitable or non-neogitable? :idea:

If the price of the shares are non-neogitable, what's the point of a "Buyer's Agent"?

Thank You
Fess