Skip to main content

Will more real estate attorneys start marketing themselves as a replacement for buyer's agents?

Hi,

I see a lot of people recommending getting a real estate attorney instead of an agent to negotiate, close, etc. so I'm wondering if more will or are offering their services in that capacity now that we're somewhat freed from the shackles of realtors and people are now doubting their value. And if so, how does one find a good one? (Though I also see why they wouldn't, given that they could alienate agents who would otherwise use their services.)

I'm not necessarily anti-agent. My mom was one in the 80's. A good one can provide significant value. But rare is the situation where one is worth 2.5-3% on a $500-600K home, especially in my case where I'll be buying out of town, looking at only a couple or so because I cant fly out for anything I'm not serious about, and I'll be paying cash. Also, it's damn near impossible to know if you have a good one. For example, the last time I was in the market I had an agent with great reviews, she could spot problems in a house a mile away, the problem with her was that every house was the right house, I was called indecisive because I didn't buy a house after seeing three of them, and all the problems that she saw with the home weren't revealed until after I passed on it. She clearly just wanted to get her payday. It's such a craps shoot and unless you're buying a modestly priced home, pretty much all of hem are massively overpaid.

Bottom line, I would get an agent if they'd settle for maybe 1.5% for the very little effort they would put into my deal, but we're still in the early days of the post settlement world and every agent still thinks that they're worth every penny of 3%, with many thinking/hoping/hallucinating that the sellers will still provide it and the world won't really change, so I'm now investigating the real estate attorney option.

Thanks.

submitted by /u/douglas8888
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1ewos9s/will_more_real_estate_attorneys_start_marketing/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more