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NT Realtor and Real Estate agents I need help.

post #1 of 13
Thread Starter 
Well I'm buying my first home in the next few months.

I have the gist of the process but here is the situation.

My best friend and the best man in my wedding just became a Realtor like 4 months ago. I'm kinda in weird spot because we always joked about him selling me my house. Well now the time is here and I kinda wanted someone with more experience.

The question I have is does it really matter that much when you are buying a home who your Realtor is in today's market?
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post #2 of 13
Buying your first home is one of the biggest financial decisions of your life. Best friend or not, I wouldn't trust a realtor with 4 months of experience just yet unless he/she came with an amazing track record in their 4 months as a realtor or was highly recommended. And yes, an experienced realtor has a lot more resources (network) than a new realtor. Good luck in your search though.
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post #3 of 13
Quote:
Originally Posted by yAyToNyO View Post

Buying your first home is one of the biggest financial decisions of your life. Best friend or not, I wouldn't trust a realtor with 4 months of experience just yet unless he/she came with an amazing track record in their 4 months as a realtor or was highly recommended. And yes, an experienced realtor has a lot more resources (network) than a new realtor. Good luck in your search though.

THIS!!!

Go through an experienced realtor. For whatever the reason, if things go south, so will your friendship.
post #4 of 13
Experienced realtor=more connections and knows how to market your house, knows the area well and can get you the best price while negotiating with a buyer.
post #5 of 13
Quote:
Originally Posted by SneakerPro View Post

Well I'm buying my first home in the next few months.

I have the gist of the process but here is the situation.

My best friend and the best man in my wedding just became a Realtor like 4 months ago. I'm kinda in weird spot because we always joked about him selling me my house. Well now the time is here and I kinda wanted someone with more experience.

The question I have is does it really matter that much when you are buying a home who your Realtor is in today's market?

As a newbie realtor, I would suggest working with your friend. Depending on the brokerage he is with, his training should be sufficient enough for him to find you a home. I have helped my cousin find a place and simply asked questions when I wasn't sure. I have another closing set up as well. Just tell him to bring every issue to you if he feels he isn't getting enough.

Selling a home is different. You really need to have that network to move the home quickly.
post #6 of 13
this us business b

dont trust a friend
post #7 of 13

use your buddy. Nothing really can go south

 

Just make sure you tell him you want a kickback of his commisions for a few thousand

post #8 of 13

Since you're buying a home and not selling,  at least give your buddy a chance to work with you. Maybe tell him that you're a bit hesitant since he's new but you want to take the chance to work with him, and if at any point you feel like you need to find someone more experienced, let him know. 

post #9 of 13
I'm in canada so there might be differences, but know that generally the biggest names out there are normally busy and might get a member of his team to sell ur house if u hire him.

A young realtor will be more eager to work hard, and if he has a good office, he should have more experienced realtors give him advice for his first few transactions.

Edit: my bad, I thought u were selling. But yeah, what I said still applies. Actually a lot of top realtors here do selling only.

And ask for a commission rebate.
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post #10 of 13
posting to bump since I just became licensed in Oregon and am looking to network here in the boards for knowledge as well as for guidance etc etc etc
post #11 of 13
might finally be in the market for a house in the near future. Always had the thought of whats the point of a real estate agent in these times where a majority of data is available online??

I know experienced realtors have the experience and special listings. But what if i know the exact house i want and the owner is willing to sell it directly? Could save the what 6% commission??
Edited by rrickrude - 11/15/15 at 12:07am
post #12 of 13
^ thats true but you'll just need someone to write up the contract.

It's also more rare since if someone is selling, they already have a listing agent who takes 6% but breaks that up usually to around 2.5% with your buying broker to facilitate the transaction.

The majority of the data is online, yes... but when making a big purchase, you don't want to see inside yourself? Like taking a car for a test drive...? Thats where having a buyer agent to represent you comes along... they advocate on your behalf like any athlete and their agent etc.

If you didn't have a buyers agent, that listing agent will eat the full 6% commission.

Just spilling any info to help since I purchased my first property last year and am now working on a flip property that just finished renovations and will be on the market tomorrow.
post #13 of 13
Thanks for the info. I'll have to do some more research since I'm just getting familiar. Might PM you if I have some other questions.
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