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Buying Land. Do I need a buyers agent?

1,727 Views | 9 Replies | Last: 7 yr ago by WTMRepublicRanches
Leander - Ag
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AG
Going to purchase 20-40 acers. What are the pros / cons with transacting without an agent. Anyone with experience? Bad idea to let the sellers agent represent me?

Thanks!
AggiePlaya
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AG
Sellers agent can't represent you, they protect the interests of seller only.

The realtor commission of 6% is baked in and drawn out of seller proceeds, so you might as well get representation in my opinion.

Having your own realtor has benefits. They have access to the MLS database and can find out purchase history to help you come in with a reasonable offer without going over. They obviously help with the contract and negotiations, and if you haven't done many real estate transactions they can help you consider many other aspects that you probably don't know yourself.
Leander - Ag
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AG
Thanks
Bitter Old Man
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AG
It totally depends on how much of an expert you are. If you know a lot about land you might be ok. It also depends on the realtor you choose. 80-90% of Realtors are clueless about purchasing land. I actually teach a class to Realtors about the basics of farm and ranch land, and most are pretty wide eyed. There are a lot of issues unique to land.

There are Brokers who specialize in land, most of them know what they are talking about. Use one of them.
texrover91
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AG
Bitter OM - where do you teach your class? What area?
voorheesdn
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AG
Email me. I'd be glad to help or point you in the right direction. david@voorheesteam.com. You absolutely want someone on your side of this transaction.
plowboy1065
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S
Where are you looking? I'm with Keller Williams Farm & Ranch division
mazag08
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AG
Don't just use any Realtor. A realtor with experience doing land deals can add a lot of value and increase your negotiating position.
Bitter Old Man
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AG
I'm in the Austin area.
CapitalFarmCredit
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Sponsor
We are not buyers' reps but we are involved in many land deals. Give us a shout and we can help with the financing. See https://www.capitalfarmcredit.com/locations-main to find the nearest and most convenient office to answer any of your rural land purchasing questions.
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WTMRepublicRanches
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Happy to meet up and discuss this with you. I am a Broker at Republic Ranches
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