Why do I Need a Real Estate Agent | From Buyer to my Ears

Ginny, good points for the buyer who asks. The bottom line is a buyer rep can only help in their transaction process. What do they have to lose?

Ginny Gin... this is a subject that bears repeating...Anything extra-ordinary and expensive requires research, discussion and a team effort now a days...Real Estate is a team sport and professional players go at it

Ginny, great post, and it is true, they CAN buy and sell themselves, but at what cost?     It is proven we can bring more dollars in than selling FSBO.

Tmely post Ginny!  Just recently spent entirely too much time demonstrating my value to a buyer customer only to have them go directly to the builder in hopes of saving money/my commission on their custom built home.  Little fo they know that for the area and intown lot they have selected, they are/will over pay when it's all said and done.  Some people think they know more than the professionals.  NEXT!  

Hi Ginny.... good post.... my only response to them would be to call an attorney because they'll need to pay legal fees to get themselves out of whatever mess they fall into, and they will be certain to do that.

Hi Ginny, I like the fact how you have broken down these important issues. Research is always the best thing to do before engaging in any endeavor espacially  those you are not so familiar with. 

If someone thinks they don't need a realtor, well... we know what is going to happen at some point.  

So now I really qualify those folks who try to get as much FREE info out of me as they can. They are the same ones who will go out and close a deal without me. Unfortunately, they may never know how much it cost them to do it themselves.  

Either hire me or not, just don't waste my time! 

I love that question and like to have fun with it. I always tell them of course you can do it yourself without a real estate agent, does that mean you intend to look at only houses that aren't listed with an agent? Have you selected a real estate attorney yet to review any contracts etc so as to make sure your not being taken advantage of by some owner that thinks he has a live one? You want to make sure that you protect yourself so get a good one that specializes in real estate.

There are all kinds of fun questions that should reveal whether they are idiots or recipients of bad info. I was once the FSBO king in my market place before I became investment oriented and found that many fsbos were the product of being a buyer of a fsbo, and then finding out they as buyers lost in the deal and now wanted to do the same to someone else. Those fsbo sellers that won in their deal are the fsbo you won't list anytime soon if they are trying it again. Just a little tip, I always asked at a listing presentation when did you buy the property and do you remember what company it was listed with. If I hear, oh we bought it from the owner, you may have a future fsbo just gathering information and that is the real reason your walking away without a signed listing agreement.

The listing agent works for their clients, the sellers.  End of story.  If an unrepresented buyer communicates with them, they have no duty to the unreprensted buyer.  They do, however, have a duty to the sellers - their clients.  Anything the unrepresented buyer tells them, the sellers know too!

Yep, Carla said it - the listing agent works for the Seller. Why would any Buyer want to venture into purchasing a home without their own personal representation is beyond me.

Ginny, as I commented on Lenn's re-blog of your blog.  I have a blog in draft about why Buyers and Sellers need to use a Realtor.  Of course for me it is from kind of a selfish point of view that I am writing it because I want my transactions to go smoothly, and that rarely happens if a Realtor is not involved.  When a Realtor is not part of the transaction, the Borrower seems to think that I will fill that roll, and that is a line that I will not cross.  It they expect me to be giving them information that the Realtor should be advising them on, they can go some where else for the mortgage.  Trying to play the roll of LO and Realtor is a train wreck waiting to happen.

Just closed for a buyer an Edmond Oklahoma home that was listed by an out of state order entry company. The result was a $350,000 sale with a minimum of $35,000 equity, $6000 in closing cost paid for the buyer, and repairs. So how much was the savings for not paying a sellers side commission compared to that?

This IS one of those DUH moments when you look at that person and can't believe what they just said. Then when the deal goes south (and some do) they now ask for you to bail them out..

There are a lot of people who think they know it all. YES they need an agent.

Great post!

I have done a number of transactions where a Realtor was not involved. It never goes well, between inspection issues, between appraisal issues and between last minute disagreements between parties, it is always a problem. 99% of properties sold should have Realtor representation.

So True Ginny, we dont need to hire an expert, but is sure makes a difference to have an expert when dealing with something as important as a home.  Some folks never learn this, others do, sometimes the hard way.

I doubt most buyers I have ever worked with could have attained the same results on their own. I know why they needed me. After the transaction they knew as well!

I think HGTV is leading a lot of people to believe they can do without Agents. Buyers who elect to go without an Agent will most likely not do as well as if they had representation.