In California, Sellers pay for the Buyer agent fee, so buyers can choose the absolute best agent to negotiate against the Seller and the Seller pays their fee. In other states, buyers pay the buyer agent fee, but it is often still "worth it".
The majority of lawsuits in California occur with unrepresented parties who thought they were "saving money" but instead bought themselves expensive and stressful trouble.
I could completely understand that everyone wants a “good” deal when buying anything at all. I do! I do! I certainly do understand! I’m so frugal with money that it would hurt me thinking I spent a penny more than I should.
I had a wonderful client who just started his process of “considering” a move closer to work. Nothing too serious. Therefore, he didn’t call me first. Then, he visited an Open House of a house that peeked his interest. At the Open House, he was greeted by the Listing Agent (LA). The LA mentioned to my client, “Without an agent (representing you), the Seller can sell the house $10,000 cheaper”.
He called me after the Open House.
My honest answer is that I couldn’t give him a non-biased answer because so much of what I would make is tied to the answer.
I said, “If I wasn’t an agent but just a friend, I’d say Use an agent 100% of the time”. He doesn’t know what he doesn’t know. Guess who is the Listing Agent there to represent? (Seller).
What happens during the inspection negotiation? Will he receive a fair repair negotiation that serves him and his family well?
We discussed about the house the next day after I had a chance to see it in person. Great home with alot of character. But knowing him (& his life season), it wouldn’t fit his lifestyle because of some flaws of the floorplan. And how that impacts resale when he does go to sell it. These may be just some conversations he wouldn’t have with the Listing Agent – who is there to sell the house!
I had to bring the question up again. If all the unknowns he’s about to step into is worth 10K more to him.
I felt bad in that situation because I felt like a 10K burden. But in fact, because that didn’t work out, it caused him to look in another area and he would spend 100K less than when he could jump into that deal and charging on that path.
So, should a buyer use a Real Estate Buyer’s Agent? Every. Single. Time.