FEEDBACK ON: REAL ESTATE AGENTS, REALTORS, AND SALESMAN
(Page 2 of 2)
Once you've found a broker who knows the land in his area and has a good reputation, you'll probably be pleasantly surprised to find him urging you not to rush into any decision. He may even decline to show you dozens of listings he knows of simply because they are overpriced or problem properties. While it's true that real estate agents usually represent the sellers of land, the better professionals get around this by
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[1] not taking on acreage they consider too expensive and, if trapped into listing such "white elephants", by [2] not showing them to potential buyers.
If you want to, incidentally, it's quite legal to retain the broker yourself (you, the purchaser, not the property owner), if you're willing to pay the commission fee. It's a source of amazement to me that this isn't done more frequently. Either way, a good agent will certainly welcome all the questions Scher recommends asking and will probably enjoy working with an intelligent, careful buyer.
Another mark of a reputable broker is that he won't ignore you just because your bankroll is small. This is one place in the area of financing where I found Scher's comments utterly superficial. There are dozens of options open to a responsible buyer, and a knowledgeable agent spends hundreds of hours keeping abreast of them. Terms available are as important as the selling price on a parcel of land often more so. Be open to suggestions from your agent in this regard. He'll readily disagree with you if he sees that you're being unrealistic or putting yourself into a dangerous financial position.
To summarize: I agree with Scher's major points, but I think he's wrong to ignore the tremendous service a responsible agent can offer. The best solution to the problems involved in buying property, I'm convinced, is to find a good broker and to put your trust in him and him alone. This is no more than an honest, hard-working person in any field deserves.
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