Oh! You are buying a home? Why are you using an agent? - Is the sentence a friend of one of my clients says over the phone while headed to the next property. Once my client gets off the phone she says "hey my friend told me to buy a house and not to use a realtor." My reply "your friend must like torture.” Of course my client wants to know why this would be considered torture and this is how I proceeded…..
1. Why not use a realtor when purchasing a home when the seller is going to pay your agent? Besides a possible brokerage fee (depending on the brokerage) the buyer’s agent is basically free to work with.
2. If you decide to buy a house without a realtor and are searching on the MLS you will be very limited.
a. Hard to get access to inside of the homes.
b. If you do call the listing agent to view the home and you like the home you will need an agent to write the offer.
c. If you decide to let the listing agent write the offer you are then using a realtor but a realtor that was essentially working for the sellers first. This probably makes you uncomfortable and you should probably just have your own realtor that you know has your best interest.
4. Trying to determine if the asking price from the sellers is worth it or not can be difficult
5. If you decide to go outside of the MLS to FSBO (for sale by owner) they usually on average represent about 10% of homes listed for sale giving you fewer options. The prices of homes FSBO are typically the same as the prices listed on the MLS or higher.
My client's response "oh yeah she is definitely asking for torture"......