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Buying using brokers or not - pros, cons?

Started by renovice
over 12 years ago
Posts: 55
Member since: Feb 2009
Discussion about
Hi, Given that all info is on streeteasy, what does the community think: what are the benefits when buying using brokers vs. just by yourself contacting seller's brokers and going to open houses pros, cons? also if using brokers can one ask for some sort of cash "rebate" if deal happens - e.g. as a buyer get some money back as you gave the brokers your business. Is this done?
Response by front_porch
over 12 years ago
Posts: 5320
Member since: Mar 2008

The clients who use me to buy (I'm both a buyer's and seller's broker) believe that there are benefits to full-service brokerage, including access to a broad range of inventory and information (some find that not all information is on streeteasy), management of the transaction, and the luxury of not attempting to do everything themselves.

that said, a few people prefer D-I-Y as they like the details of the process.

As far as rebate brokers, you might want to contact Keith Burkhardt -- who is on these boards a lot and does buyside-only work.

ali r.
DG Neary Realty

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Response by Whynot
over 12 years ago
Posts: 6
Member since: Jan 2009

a

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Response by Whynot
over 12 years ago
Posts: 6
Member since: Jan 2009

Highly recommend The Burkhardt Group. I worked with Keith and Christian to purchase last fall and was very happy with the service and result.

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Response by new2RE
over 12 years ago
Posts: 145
Member since: Feb 2009

Agree totally with Whynot. I also worked with Keith and Christian of Burkhardt Group and I could not imagine going through the coop board review without them. Also, they handed me a check for the commission split once the deal was done.

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Response by lobster
over 12 years ago
Posts: 1147
Member since: May 2009

I think what can be difficult about using a buyer's broker is that the broker often loses patience with the buyer if the buyer does not make an offer on a property within a few months. If you have a very definite idea of what you want, how much you want to spend and you are willing to wait for that type of property, finding a broker who has the same level of patience can be somewhat difficult. For myself, I liked the convenience of having someone make the appointment for me. Some people like to have the assistance of a buyer's broker when they are submitting theisr package for board approval.

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Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009

so for a $1.5 million property, you felt good about spending $45 k for the agent to make the appts?

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Response by Riversider
over 12 years ago
Posts: 13572
Member since: Apr 2009

If you don't know the area a good buyer's broker might make sense. but if you are willing to put the time and energy in there's nothing better than self reliance and getting unfiltered information or worrying if the broker has an incentive to steer you toward a certain property.

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Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009

how did you avoid the problem?

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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013

C0C0, talk about properties in your price range.

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Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009

uh oh.

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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013

Embarrassed, huh? Ok, I'll change the subject. So, C0C0, what do you think about the election? http://www.columbiacountyny.com/elections/documents/officials/up_for_election2013.pdf

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Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009

are you?

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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013

No, I couldn't get enough signatures to get on the C0lumbia C0unty ballot. Probably because I've never lived in C0lumbia C0unty.

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Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009

too dumb.

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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013

you might be on to something C0C0.

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Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009

you're a dumb fuck.

of course.

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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013

C0C0, you left your keys here

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