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Author: realbro Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127258  
Subject: Location, Location Date: 2/9/1998 2:26 PM
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I have read the various responses to the initial question regarding the methods to discover acceptable neighborhoods in which to purchase a home and find it puzzling that no one suggested talking to a realtor.

In today's marketplace, realtors do not only represent the seller of the homes that they have listed in the market. Realtors work as buyer's agents as well and will represent you in that capacity if you so request. That does not necessarily mean that the buyer will owe the realtor a commission when a home is found because most sellers have already agreed to pay the "selling agent" a commission when they list their home. Likewise, if your agent finds a home which is not listed, most sellers who attempt to sell their home themselves will "cooperate" with a realtor who finds a buyer and will pay a commission. It is only in the rare instance that a seller will pay a buyer's agent a commission that the buyer may have to pay the commission directly. However, in that event, the commission expense should be able to be negotiated out of the sales price.

I would check out websites for realtors who work in the area you are intending to move. They are the best resource for finding homes in areas in which you are not familiar. If you have any questions about representation, see my site @ suncoastrealtor.com.

realbro
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Author: dwright Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 353 of 127258
Subject: Re: Location, Location Date: 2/10/1998 8:11 AM
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realbro wrote:

"I have read the various responses to the initial question regarding the methods to discover acceptable neighborhoods in which to purchase a home and find it puzzling that no one suggested talking to a realtor."

Puzzling? I think not. I would find it puzzling if a potential buyer would seek the advice of someone who profited from pure transaction. Not finding their buyer a home which meets their criterium. Not finding their buyer a home in a better school district. But just getting their buyer to sign. This is the LAST person I would ask for advice regarding neighborhoods. If logistics do not permit visiting various areas, I would guess a few well-placed phone calls, a little Net surfing, or even a post to a 'Folly in...' folder established for various states here on the Fool would result in information regarding desirable neighborhoods.

By the way, would the moniker "realbro" perhaps stand for 'real estate broker'? Just wondering...

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Author: realbro Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 359 of 127258
Subject: Re: Location, Location Date: 2/10/1998 2:09 PM
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Yes, "realbro" does stand for real estate broker. If a buyer wants me to work as their agent, I will not attempt to sell them anything, I just provide them with choices. I am legally, ethically and morally bound to work on behalf of my buyer and to find them all the homes that fit their wants and needs. It is unlawful to "steer" people away from neighborhoods. If a buyer has questions about schools or crime for instance, I have them get in touch with the appropriate agencies to answer their questions specifically.

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Author: tmfjedi Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 370 of 127258
Subject: Re: Location, Location Date: 2/11/1998 2:02 PM
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<<realbro wrote:

"I have read the various responses to the initial question regarding the methods to discover
acceptable neighborhoods in which to purchase a home and find it puzzling that no one suggested
talking to a realtor."

Puzzling? I think not. I would find it puzzling if a potential buyer would seek the advice of someone
who profited from pure transaction. Not finding their buyer a home which meets their criterium. Not
finding their buyer a home in a better school district. But just getting their buyer to sign. This is the
LAST person I would ask for advice regarding neighborhoods.>>

Actually, dwright, a GOOD real estate agent can be a WONDERFUL source for info about neighborhoods. It's not just the pure transaction they profit from for a number of reasons. Why you should ask an agent and why they make more $$ if they do it right:
1) property in better neighborhoods/school districts generally sells for more, thus increasing their commission.
2) if the agent has been in the area you're looking at for some time, they are going to be very familiar with neighborhood/school system quality overall, and even more specifically if they live in that area and have kids in school.
3) word-of-mouth is a wonderful advertiser. If an agent does a good job for you now, chances are good that, however far down the road when you are looking to sell your house (and possibly buy another in the area), you will come to them first, and they can make a commission off that sale. Plus, there is always the possibility that you will refer any friends who are looking to buy/sell a property in the area to them. A good recommendation is a wonderful advertisement.

But, of course, that is all contingent on whether or not you have a good agent. If you aren't comfortable with an agent, don't feel pressured to work with them. But don't gyp an agent either.

Kaiti
Jedi in orbit.

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Author: TMFRunkle Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 373 of 127258
Subject: Re: Location, Location Date: 2/11/1998 10:57 PM
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I've had very bad experiences with getting guidance from a realtor as to what neighborhoods to buy in. Some of them are actually funny, now anyway. Like the time the realtor took me through neighborhoods where people didn't cut their grass, and was full of foreclosed houses. Not to be outdone, she took me to a house that was inhabited by drug dealers, and WOULD NOT take the hint that I wanted to leave. She insisted on checking every room, even though I said to her, "I WANT TO GET OUT BEFORE THE POLICE COME!" No matter how bad each room was, (and how many people were passed out on the floor) she kept saying, "isn't this nice?" No it wasn't. I was scared to death.

There was the house I was shown that was full of cockroaches, had a leaking roof, etc, and the realtor kept saying, "isn't this nice?" Heck, my dog would have been afraid to go in that house. Why do realors always say, "isn't this nice?"

The best way to find a decent neighborhood is to talk to co-workers, go to the school in that neighborhood, and drive around. Uncut grass, grafitti, beat up cars, drive-by shootings are all contrary indicators to buying in a given neighborhood.

George

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