With so much information about homes for sale online many buyers like to do their own research without getting help from a real estate agent. During the initial stages of searching this can be great, searching the neighborhoods either on line or driving around looking at open houses and looking through all the photos online to see what you do or don't like about the homes.
Once a buyer gets serious about buying many of them then either get a referral from a friend or find an agent online that they feel they can work with. From here buyers will then set up showings and really get down to business by talking with a mortgage professional, if they are getting a loan. Buyers can, at this point, really begin to have the real estate agent go to work for them, really searching for the home that will fit the buyer best. This is while the buyer goes back to doing what ever job they do on a full time basis.
Buying a home without an agent
I have seen this come about a few times in the last year and thought it very important to discuss. A few buyers have come to me directly as the listing agent to see the home they like. They really love the home and are ready to make an offer and ask me to represent them. At this point I let them know about my fiduciary responsibility to the seller and let them know I also have a responsibility to be honest and fair with them. Once they agree the buyers go into telling me know how they would like me to write up the contract. Then it come... The potential buyers explain to me that because they don't have an agent they will be getting X% off of the purchase price or a credit of said commission.
What buyers that are trying to buy a home without an agent are missing is that the commission agreement is with the listing agent and the seller, not the buyer. If there is not a buyer's agent involved the seller has still agreed to pay the listing broker the agreed upon commission. The buyers are not paying the commission, the sellers are.
Here is the exact language from the Arizona Residential Listing Contract:
Buying a home without a Realtor will not save the buyers money like they think it will by cutting the agreed upon commission in half. It would be in the buyers best interest to begin working with a professional real estate agent when they are ready and allow the agent to work for them. Those of us that do this full time and put our heart and soul into this profession would love to help represent a buyer so that they are protected during the entire contract process. With so many things changing in a real estate transaction it really is best to have quality representation.
If you don't have a real estate agent in Scottsdale AZ, I would love t help you! Give me a call, Shawn Shackelton (480) 734-7277
Take a look at Scottsdale Homes for Sale here http://shawnshackelton.idxbroker.com/i/scottsdale
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