Author Topic: Use same or different Realtor to buy and sell?  (Read 5059 times)

sameoldclothes

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Use same or different Realtor to buy and sell?
« on: January 13, 2015, 08:00:02 AM »
We are moving locally.  What is your advice on realtors - is it best to use one realtor to sell and buy or use separate realtors for each? It seems like it would be simpler to have just 1 realtor overall (she will give us a discounted rate if we use her for both) but I have heard (without substantial reasons) that sometimes it is better to have separate realtors. What's your advice? Thank you.

ShoulderThingThatGoesUp

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Re: Use same or different Realtor to buy and sell?
« Reply #1 on: January 13, 2015, 08:24:58 AM »
The problem with her giving you a discounted rate is that she's less motivated to do the sale. Maybe see if she'll give you a discounted rate on the purchase if she gets the sale.

sameoldclothes

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Re: Use same or different Realtor to buy and sell?
« Reply #2 on: January 13, 2015, 08:44:30 AM »
Thanks for your insight. I am not really worried about her motivation - she is a friend so I don't think that is a factor in this decision. 

Bob W

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Re: Use same or different Realtor to buy and sell?
« Reply #3 on: January 13, 2015, 09:30:52 AM »
I used to be a home builder and used the same realtor for buying and selling all the time.  If you find a good one and the price is right why not?   They will be more motivated and put you at the top of their list. 

Of course you could just slow down for a moment --- take the real estate class and exam and have your own license.   You would potentially save anywhere from 4k-10k on your sell and buy deal depending on the price of the homes.  IMHO 4K is worth the effort. 

Bobberth

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Re: Use same or different Realtor to buy and sell?
« Reply #4 on: January 13, 2015, 09:58:10 AM »
Unless you are doing two completely separate transactions-and by that I mean, close on selling your house AND THEN start looking for another house; I think it would be better to have a single agent.  If you are like most people and are going to start looking before your house sale CLOSES, then one agent would be best as they know where everything in the process is.  If you have two agents, your buy agent is going to want to know where your sale stands and you will have to contact your sale agent and pass information on.  Just make it easier and use the same agent, especially if it is a friend.

Also, unless it's different in your area, you only pay the agent when you sell and the seller pays both agents.  So if she will lower her cost on the sale because she will make $$ shortly thereafter from your buy, that saves you money over going with separate agents .  You should still pay the full amount on your sale to the buyers agent though.

Jack

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Re: Use same or different Realtor to buy and sell?
« Reply #5 on: January 13, 2015, 11:37:34 AM »
Using the same realtor to both sell your house and help you buy another sounds fine to me.

I think the "separate realtors" advice was referring to the fact that it's bad for the buyer and seller to have the same realtor on the same transaction (i.e., "dual agency"), not for the same person to have the same realtor on two different transactions.

mydogismyheart

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Re: Use same or different Realtor to buy and sell?
« Reply #6 on: January 13, 2015, 05:39:10 PM »
I would use both if you like the agent a lot and she does a good job.  Yes she will give you a discounted rate but often it's still higher than just doing 1 transaction which motivates her.  Meaning: if the standard rate is 3% then she could do 2% and still earn 4% commission for both transactions.  The other 2% could go in your pocket.  You always have the option to fire her if she doesn't do a great job, even if she is a friend!

thedayisbrave

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Re: Use same or different Realtor to buy and sell?
« Reply #7 on: January 13, 2015, 06:09:58 PM »
Using the same realtor to both sell your house and help you buy another sounds fine to me.

I think the "separate realtors" advice was referring to the fact that it's bad for the buyer and seller to have the same realtor on the same transaction (i.e., "dual agency"), not for the same person to have the same realtor on two different transactions.
+1.  Disclosure: I am a realtor.

sameoldclothes

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Re: Use same or different Realtor to buy and sell?
« Reply #8 on: January 14, 2015, 10:46:41 AM »
Thank you all for your great advice!

fxsts12

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Re: Use same or different Realtor to buy and sell?
« Reply #9 on: January 15, 2015, 08:00:09 PM »
Use a flat fee agent for listing $500 - $1000. Then pick your buyer agent. The listing agent only tells you to lower your price anyway.