No, you don't need a real estate agent to help you to buy a house.

By
Real Estate Agent with RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590

No, you don't need a real estate agent to help you to buy a house.   Have you heard of this line before, I am almost certain most of you have.  I know I did.

A few years ago, I was working with a couple who was selling their house themselves and I was their buyer agent.  I tried to get the listing and helped them selling it, but they told me they have sold and bought a few times and they could handle it themselves to save some commission.  No problem, I offered at least.

They put a FSBO sign in their yard, put an ad in the newspaper, and sure enough, they got a call one day.  A lady from out of town saw the ad and went to look at their house, she liked it, she put an offer.  (Maybe I need to learn a few tricks from them to see how to sell a house quickly) I forgot to mention one thing, the lady asked my client if she needed an agent to help her to buy their house, my client said, "No, you don't need a real estate agent to help you to buy a house."  Hmm........

Well, I sold them a house then and time has flown by..........One day, a lady called our office for some real estate advice.  She said she bought a house from FSBO and she had some major roof problem in the house and wondered how she could get the previous owner to take care of it and paid for the damages.  You guessed it, she was the lady who bought my client's house.

Of course, there was no Seller property disclosure, I don't even know if she did a home inspection or not.  All I knew was my client supposed to have the roof fixed before closing.  She knew the owner bought a house from RE/MAX and she wondered if she could ask us to help her with this mess.  We did not have any representation in any side of that sales, there was nothing we could do for her.  We suggested her to talk to the owner and see what they would do.  Frankly, I don't know what any owner will do after the house has already closed.....She told us she learned her lesson and would not buy a house through FSBO ever again, she had no guidance, didn't know what she was supposed to do. 

To all the buyers out there, you don't save anything when you don't have an agent to represent you when buying a house.  If you think it is easy and simple, anyone can do it, you certainly own your opinion, but don't say no one has told you so.  I tried. 

photo courtesy : flckr/SasaSi

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Serving Marion, West Memphis, Crawfordsville, Hughes, Horseshoe Lake, and surrounding areas.  If you are planning to sell or buy, please feel free to give me a call, find out if I am the right agent for you.

 

 

 

Rita Fong, REALTOR®

RE/MAX Real Estate Today

1813 Highway 77  Marion, Ark. 72364

cell:901-488-9590

office:870-735-4663

fax:870-735-4668

http://www.ritafong.remaxarkansas.com

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Rainer
170,698
Lisa Dunham
Alexandria, VA
Associate Broker, Alexandria Virginia Real Estate

It is amazing that there are people out there who are willing to endeavor such a complex transaction on their on.  With the amount of risks involved, it is not a wise decision.  I would say to any home buyer, secure the services of a real estate agent to ensure that your interest is protected.

Sep 09, 2011 12:38 PM #1
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Lisa, it beats me that someone will risk so much to step in a complicated transaction. 

Sep 09, 2011 02:38 PM #2
Rainmaker
941,998
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Saving money doesn't necessarily mean the buyer is getting their money's worth.  In this case, that buyer would have been better off being represented by a real estate agent.  Too much to lose.

Sep 09, 2011 04:05 PM #3
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Kay, there are so many stories like this happen everyday, yet so many people chose not to work with a real estate agent, beats me.......

Sep 09, 2011 05:27 PM #4
Ambassador
648,384
Marilyn Boudreaux
Marilyn Boudreaux, Century 21 Bono Realty - Lake Charles, LA
Lake Charles LA Century 21 Realtor

FSBO has been hot topic lately, they are popping up everywhere here.  I had a buyer and contacted the FSBO who verbally agreed to pay me 3% then changed their mind and ask me why should they pay me for doing  nothing  they would be doing all the work....REALLY??

Sep 09, 2011 05:37 PM #5
Ambassador
2,492,088
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Lisa, I received 2 calls this week from "people in trouble". 

The first was from an acquaintance who had bought a FSBO vacant lot.  He had spent $1200 on Survey and Appraisal... and now he found out the Title was Cloudy.  "Can I get my $1200 back?"   You need to see an Attorney, I answered.

Call #2 was a distant relative.  "Fred, I know we should have gone through you, but the Seller said that if we used a Realtor etc. etc."  My Relative had given a $20,000 Check to this Seller on a $100K piece of land.  The Deal was not going to Close; Seller said he "no longer had the $20K".   Again, I suggested the Lawyer.

  WHAT are these people thinking?   Trying to save a few thousand lousy dollars in "commission", and now they have lost money that they will probably never see again.

Sep 09, 2011 06:42 PM #6
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Marilyn, not saying all FSBO are terrible sellers, but it is a warning to all buyers who are interested in buying FSBO, they better have an agent to represent them, or they are entering the transaction at their own risk!

Most FSBO only care about their pocket, how much they can get and hope the buyer is not knowledgeable to ask questions and do what they are supposed to do.

Sep 09, 2011 07:28 PM #7
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Fred, don't you just hate those calls from the "family" after they messed up in some kind of real estate deals, then they call you for help.  If they don't think we are not good enough to help them with the transaction at the beginning, why would they think we are good enough to get them out of their mess?  Sorry, they need to spend some money to pay the lawyer to get them out, if even the lawyer can.

Sep 09, 2011 07:31 PM #8
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Rainmaker
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Rita Fong

Realtor - Marion Arkansas Homes for Sale
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