FL MORTGAGE BROKER: don't be foolish, use a Buyer's Agent

[Account Closed]

As a FL Mortgage Broker who has been in the business since the 90s, I've seen almost everything.  I know for a fact that I'm a better negotiator than 95% of all realtors and investors, but when I buy property, I always use a Buyer Agent to purchase Listed Properties.  (FSBOs are a different story)

But one of the things that makes me roll my eyes on the phone is when I hear a so called "Experienced Investor" say they don't use Buyer Agents. "Steve, I work directly with the Listing Agent to get a better deal." I want to say, no, you will not, you just think you will.

Most of the time I can reason with them and get them to use a Buyer's Agent.  But there are the few arrogant, know-it-alls, who are bound and determined to use their outdated, 1990s tactic.  And as their Mortgage Broker, I have a front row seat to watch it all play out from loan Pre-Approval thru to close, and having to clean up messes and un-Foxtrot avoidable issues along this trip thru hell!

Sir, these days the lake doesn't freeze as thick as it use to, its best that you don't run out on it in that way.

..."don't worry about me Steve McRory, you just handle my loan, I got this." 

 Yes Sir, I know you have 10 million in liquid reserves and yes, you are much more successful than me, but I have a Buyer Agent ready if you need one.  

And away they go, stomping out into the post melt down, real estate market, and down thru the ice they go!     

In reality, most of the time, they don't get a better deal and could have easily gotten the same or better deal by using a Buyer's Agent.

It's like watching a train wreck and almost always ends up an I TOLD YOU SO situation!

Oh, so you're going to cut out the buyer agent 3% by going thru the Listing Agent? 

Foolish move here in this 2018 American Real Estate Market.  Most of the time, the investor is going to:

1. take the focus off the bigger target, the sales price savings.

2. upset the listing agent who will cop an attitude when the real estate commission is targeted   

The Listing Agent works for the Seller! And should you know that when the you know what hits the fan, especially when deposits are on the line, you're now faced with the seller and the seller's agent, both in lockstep, speaking with one voice against you, ready for battle!