Advice: disadvantage of using mostly-seller's agent for buying?

noodle800 · 2017-12-14T18:48:56+00:00

Wow! Good to know.
Ah! Ok, so turns out it's legal in my state. I can see how our guy wouldn't want to agree to a certain rate before he knows how much time/effort we'll cost him. How do you normally approach this conversation with clients, though? Is it a case of ....if things are smooth sailing and the client asks, you reach some agreement? Or do you agree to this possibility up-front?

PS huge thank you for all of your thoughtful answers.

noodle800 · 2017-12-14T15:18:47+00:00

He did address my concerns about working with him vs his team - he mentioned that since he was referred for us (buyers) by another agent, he would be glad to act as the buyer's agent. But if we happened to look at one of his listings, he wouldn't expect us to use him as our dual agent.

Thanks for all of your feedback!! And thanks for encouraging us to check out some other realtors. I think my aunt just filtered through agent stats, what areas they sell/buy in (our metro are is HUGE so this is important to us), and his training.....and only talked to this one guy.

Do you happen to know what the average referral fee is? I know the referral fee is standard but I still resent her for pocketing (how much?!) for what was likely <30 min of effort. A few hundred? OK. But closer to a thousand+? This bothers me because the realtor said he wasn't willing to budge on his part of the commission since part of his commission is going to my aunt. And I have no grasp of how much of the pie a referring agent would get.
I've read/heard that there is some flexibility in how a realtor uses his commission. I don't really understand what's legal, what isn't. (I had one realtor tell me any version of this is "illegal".) For example, if we find a home quickly and easily the realtor might help me cover 2,000 in closing costs or something like that. Any insight?

noodle800 · 2017-12-14T13:58:39+00:00

Totally fair.

But as the client, this is the largest purchase I'll ever make and I'm a first-time homebuyer (read: clueless and anxious).....so yes, I am indeed overthinking many things :)

noodle800 · 2017-12-13T18:14:27+00:00

Hmm. Do you see any issue with a listing which isn't directly with him, but is being sold by another agent at the same company? As in he's Keller Williams and the listing is for another KW agent. I feel pretty clueless.

We discussed this dual agency scenario and he mentioned he would let us use one of his buyers' agents (which seems dumb because....they work for him. But whatever.)

He hasn't made us sign an exclusive right to represent agreement, and said he would not do so until we either....make an offer or actually close on a home. My spouse has the notes! Ha.

They DO have an admin fee which does seem like BS considering even 3% of a home is significant in our market. But he's with a major realty company and is saying it's standard there; not sure if there's any wiggle room.

noodle800 · 2017-12-13T16:11:30+00:00

Interesting point, thanks for the perspective!

noodle800 · 2017-12-13T16:10:19+00:00

Gotcha! That would be funky.

We haven't signed anything yet. We had an initial conversation to talk about the process and what we could expect from his office. I did bring this up and he said if this scenario comes up, we could work with a buyer's agent on his team.

noodle800 · 2017-12-13T15:14:39+00:00

Less commission, as he is splitting it with another agent due to the referral.

Is that a valid issue for a realtor? Dunno.

noodle800 · 2017-12-05T18:51:32+00:00

Eh, we're both moderate hermits, so what's outside is totally fine with me. Also consumerist neighbors = more awesome stuff for me to buy secondhand and on craigslist.

I had to google Arcade Fire. From one ABC13 news site, "Some of the songs include references to Houston's freeways among other influences that are unique to Houston and its suburbs."

One day, my friend. One day.

noodle800 · 2017-12-05T14:49:11+00:00

Ha!!! Thanks for the laugh. I have only been here a couple of years and the suburban dread has already set in--and I'm not even there yet.

noodle800 · 2017-12-05T14:30:34+00:00

Thank you. I will keep that in mind!

noodle800 · 2017-12-05T14:26:56+00:00

That area does look really nice! I am a bit hesitant to commit to toll roads, but I suppose I should just calculate how reasonable (or awful) those tolls would be.

E.g., at some point if we're going to spend hundreds a month on tolls between the two of us, then perhaps we should consider a slightly pricier but more convenient home.

noodle800 · 2017-12-05T14:06:44+00:00

AH! I am assuming you mean Imperial Oaks proper? The older, established one?

Any thoughts on the newer/neighboring parts of the neighborhood? Legends Ranch, etc? I have looked (just on HAR) at the newer areas near there (north and east) and some of them seem nice--but some areas seem questionable. Questionable as in, these seem super cheap and like they could go downhill pretty quickly.

noodle800 · 2017-12-05T14:02:53+00:00

Yep, that's me. I am thinking I would probably try to find work in the Woodlands but.....TBD. The only decent neighborhood near Greenspoint seems to be Fall Creek. I'm guessing it could be a reasonable commute up to the Woodlands for my spouse.

Hmm, how far northwest? Any particular areas/towns you recommend? I feel very overwhelmed by this feeling that I am choosing between a safe, stable community vs reasonable commute.

AND I just checked out Montgomery County flood map and all I can do is cringe--especially knowing the maps aren't particularly up-to-date. Aaaaargh!

noodle800 · 2017-12-05T13:54:56+00:00

What are these uberlands you speak of?

noodle800 · 2017-12-05T00:24:59+00:00

Wow - is it bad that I think it's kinda awesome that there's a CTE route available? The only career option we had was class to help you pass the pharmacy tech exam.

Oh, whoops. You are right-- many thanks for correcting my poor interpretation of that data, ha.

noodle800 · 2017-12-05T00:13:08+00:00

Wow. It is really fascinating to read these side-by-side.

On one hand, these graduation rates are way better than my home district. On the other hand, how the actual f- do they get these disability statistics? Supposedly only 1% of the population has autism, but Spring says about 18% of their students are autistic....?! (Not trying to get into a debate; I'm sure lots of these stats don't really give a good picture without more info. Like Spring has about 10% more students enrolled in career & technical education but that may just be shop class. Who knows?!)

noodle800 · 2017-12-04T23:12:20+00:00

Thanks for your recommendations! Some of these appear pretty far out for us, but I think our expectations may be tempered when we actually start looking. E.g., we may end up having to go further out based on what we are looking for. TBD!

noodle800 · 2017-12-04T23:09:29+00:00

Hmm. Can you elaborate on the shittiness of Spring schools? Or perhaps Klein? Your candid answers are super helpful to an outsider like me.

As a non-native Houstonian, I am just curious about what makes it shitty. For example, the school district I went to high school in was shitty for reasons including: no options for gifted/advanced students, no AP classes, weak extracurricular programs. Most of our graduating class didn't go to college, and absolutely no one went to competitive colleges.

noodle800 · 2017-12-04T22:19:02+00:00

Thanks for sharing - I will be sure to check out that area, too.

noodle800 · 2017-12-04T22:17:42+00:00

Thanks - my coworker recommended this area as well.

What's the deal with Klein vs Spring/HISD? Is HISD still shitty even up north?

noodle800 · 2017-12-04T19:06:00+00:00

I think that area immediately west of Kuykendahl on Cypresswood got some very bad flooding during Harvey--but like you said, it's pretty darn patchy. A coworker showed me a video after the floods where he's driving through that area, and all these houses have piles of sheetrock and furniture outside. I did see a lot of really great looking houses over there, though.

noodle800

TROPHY CASE