How to find a good buyer's agent? And make it worth their while?

[Lynn Harrison]

We are looking at REO's and I'm thinking it might be better in our case to get a buyer's agent than work with the main listing agent in our area. We haven't got any recommendations for one yet.

My main concern is finding an agent who is not going to outbid us if we find a good deal... I don't know if it is legal for them to do so or not in California, but it seems like an actual concern here. Any such thing as a "no conflict of interest" form or something?

My second consideration is a real estate agent is not going to be making much on any REO deal we would buy. The commission would be minimal. I would like to arrange things so that the agent does not have to show us houses & does not have to search MLS listings etc.- we don't want to waste their time and can look ourselves.We just want someone to make offers for us and cover our butts with earnest money, escrow etc. Do you all think an arrangement like that might make it palatable for a buyer's agent to represent us? Less money but also less time? We are looking to buy one property only.

And does anyone have an idea whether or not getting a buy's agent from the same company as the listing agent would work in our favor? perhaps the same company but from an office in another town? Most but not all of the agents who are familiar with REO's are in the same company.

Any ideas on this would be greatly appreciated.

[Steve Babiak]

Originally posted by Bienes Raices:

...I don't understand why your low offers would suddenly be more enticing to the listing agent in your town if she now has to split a commission with your buyer's agent.

That is wisdom gained from the BP forums shining through! The commissions on these bottom of the barrel properties will be low as it is, and the way it will end up getting split will not get any agents jumping for joy. And if there are bigger dollar properties for that buyer's agent to work on, where do you think more effort will be placed?