T Nation

Dealing With Realtors


#1

Hey you all! I would appreciate some advice on dealing with realtors. I am looking at buying a nice amount of land and when I told the realtor I was interested he said many people are looking at it and wanting to put bids in. This could be true but it just went on the market today. Also, I had realtors say this in the past just to start a bidding war and when I wasn't having it the property never went off the market. Can anyone give advice on dealing with this and stopping what feels like a game? This is such an emotional roller coaster!! Or if you have another way of looking at it please share. Thank you :smirk:


#2

We're you talking to the listing realtor or your realtor? The listing agent is full of shit and the buyer's agent should be working for you.


#4

Thank you for the response and confirming my thoughts. I did have a realtor working for me but when she was absolutely no help with a previous buy I let her go. Since this was just land with no structures and a good price I thought I should get moving on it. Things that seem simple always end up way complicated. I guess I'll hold off until I get a new agent and maybe find out he is bluffing. I didn't like the way he said "there are many interested and ready to make offers but feel free to throw your hat in the ring."


#5

X2 on what Dr. P said. I used a realtor that we were referred to by friend who was very happy with his performance on her home purchase. The guy totally knocked it out of the park.

Ask around a little. When you hear the same name mentioned a few times as "great", "awesome" etc., go with that one. When you hear horror stories of protracted (months long) closing, missing paperwork, or the myriad other stories of terrible experience- cross them off the list.


#6

It might be hard to find one who is familiar with land only sales. It can even be hard to find one who is good at adapting to changing housing markets so unless they have done many land sales recently they could be no better than you after your own research.

Also I'm not sure how land sales really work and how important an agent is. How much commission do they get? As a seller they might prefer a purchaser without an agent and avoid the commission fees. A lot of issues can come up in home buying that your agent can deal with, with land are they that valuable to have? Again these are just questions I thought of, no idea what the answers are.


#7

Very good thoughts from you both and thank you. I agree land sales at least around here are a little different because it goes quickly. One lady I used before when interested in land had heels on and didn't want to walk it... what did she think she would be doing?!? No matter what the property I could see it being helpful having a good agent to advocate for me. The list agent didn't get back to me like he said he would today. I told him I had the money but since I wasn't willing to play the bidding war I guess I lost out :confused: