Working with Louis, I just closed on my first home purchase. It was a positive experience the whole way. In my case, because I had a pretty clear idea in advance of what I was after in terms of neighborhood, price and style, we focused on houses I found on my own and went with his hourly pricing model.
The hourly pricing model did affect the process, I think ultimately for the better. First, it meant that I had to be willing to assume some risk at the outset. When the first house we went after (last spring) got bid up past what it was really worth to me, I had to be willing to walk away, pay Louis, and go off and enjoy my summer around $900 poorer and still in my apartment.
Better $900 poorer than almost half a million poorer, though. The first house was probably great for the couple that got it, but would have been wrong for me. Because Louis (partly because he had no commission incentive, and partly because he's Louis) never pushed me into a bidding game on the first house, I feel like he had a big part in saving me that half million and letting me get on with summer.
Then, a month ago, I stumbled on the place which I would end up buying. I called Louis back up, and we ran with it. Every step of the way, he was able to steer me though the process, providing outstanding recommendations and advice. Because Louis had no financial incentive to close the deal, I never had to worry about the inherent conflicts of interest that come into play with the commission-based model.
So we worked though it all and I bought the place. And, with all said and done, it was pretty cheap. The house itself was 50K less than the one we first went for, and, even with the initial $900 I spent last spring, I ended up saving over $7000 on commissions.
If you are prepared to buy, have a clear sense of what you want, and are prepared to treat your agent as a professional and not a chauffeur,
I would strongly recommend talking to Louis.
-Eric read more
