Should a realtor help you to set a price when you are ready to make an offer ?

Answer 1

Yes absolutely, do not make an uninformed offer without the help of a Realtor. The 1st offer should be at least 10-25% lower than the asking price depending upon the market.

Answer 2

YOUR Realtor should help you set a price to offer. That offer should be between 30% below the asking price and 20% above the asking price. That's why it's important to have a Realrtor working on your behalf. If the correct offer is 10% ABOVE the asking price, and you offer 10% BELOW, you've probably just shot yourself in the foot.

Answer 3

Once your deal closes, the realtor gets paid. So, a realtor will tend to get you to offer on the high end, so there is a better chance of the offer being accepted.
In today's market, people cannot realistically get what they got for homes last year or the year before. Trust your gut. Don't trust a realtor unless she is your mother!!!

Answer 4

Well, it depends. Do you have your own buyer's agent working for you? If you are only dealing with the selling agent, the one that listed the property, do not trust them to get you the best deal. They work for the SELLER, not you. They are fiducially bound to tell the seller anything you might say, like "I'm willing to pay $480,000, but I am going to offer $420,000". Now that seller's agent will submit your offer but tell the seller that you are willing to pay more.

You need your own agent. As a buyer you don't pay for that agent, it comes out of the overall transaction and is paid for by the seller. Get yourself an agent and get the house inspected and get some area comparable sales ("comps"--your realtor can pull those for you off the MLS) so you know what is a reasonable price in that area for similar properties.

Answer 5

If you are using a buyers agent you can ask them to do a CMA just as they would if they were going to list the home. This will give you a figure of what the home is worth. You can start your negotiations 10% or so lower than the targeted price.
If you are not using a buyers agent(shame on you) you will have to do your own due diligence. The selling agent works for the seller and only has to treat you honestly and fairly. In no way does he have to help you come up with an offer.
Good luck,
RE Agent,
Remax

Answer 6

Whoa a minute...A realtor working for seller is going to tell ya to offer more then asking price..Thats a promise..I have played possum and had that happen more then once..I told the sellers personally what happen each of the times...I don't like having it handed to me,from behind..So my advice is to learn learn learn..Find out comparables for your area on homes that have sold,and are for sale thats simular to home your looking at..Another valable tool is assement value for taxes and a recent appraisal...You can hire a real estate agent to help you,it won't cost a penny ...And will save you a ton...This agent will get you the information I've mentioned..But don't ask for it..See if they are playing you..A good agent thats on your side will come through...

Have fun...It's no different then buying a car..When it comes to making offers

Answer 7

Fiduciary is a word you need to know when it comes to real-estate or anything having to do with money.

The Agent/Broker is "fiduciary" to the Seller, as in the sellers interest is more important than agent/broker's interest and yours.

The Agent/Broker is NOT "fiduciary" to the Buyer, as in the Realtors interests are put before yours.

So should you listen to the Realtors advice? yes, should you take that advice? Not with out a BIG grain of salt.

be cautious even with a buyer broker, that is still a little sketchy ground.

Answer 8

Certainly a realtor can offer advice, and you should listen. But you need to consider other sources as well, such as zillow.com and your local newspapers.