momma4 asked:


Currently looking to buy a house and was told by several that I should pay the $300 retainer in order to get a foreclosed house–any ideas on this process? Is a retainer normal? Can’t a regular agent assist in foreclosures?

Fransisca

4 Responses to “What is the advantage to using a real estate agent who specializes in foreclosures?”

1. bud68 on March 28th, 2009 8:02 pm

   Who gets this retainer? Sounds like a crock to me. Any realtor can represent you on any MLS-listed property whether its an REO or not.

2. Alterfemego on March 29th, 2009 10:58 am

   No you don’t need to pay a Realtor a retainer and if someone ask for that, I would RUN not walk away from them.

   There are plenty of Realtors that can help you through the process of buying a foreclosure. But you need to do your homework on them as well. Most Realtors that are listing these properties don’t have time to work with buyers, but if you find one use them. It doesn’t cost a buyer anything to work with a Realtor, unless you choose to pay them.

3. satarnag01 on March 30th, 2009 4:25 am

   I help people buy foreclosures. The best deals come as short sales. You don’t need to pay for a retainer and not all foreclosures are great deals! Just work with an agent that knows how to do buy short sales or can show you REOs on the MLS.

4. Michael G on March 30th, 2009 12:17 pm

   Sounds like someone is trying to scam you out of $300. You can find foreclosures online yourself and don’t need a special realtor.