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Buying Without a Broker |
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Do I really need a realtor to buy a house. Can you tell me the disadvantages to finding a home on our own. Advantages? |
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You're going to run into agents unless you intend to look only at houses "for sale by owner". And in order to help his or her client get the house sold, a seller's agent is going to render you some services -- but always keeping the seller's interests first. If you do end up dealing with seller's agents, they will be paid by the seller.
You are certainly free to house-hunt on your own, though as I say, you'll most likely end up dealing with sellers' agents anyhow.
As for the advantages of hiring your own buyer's agent to represent and guide you, someone who is legally obligated to put your interests first: your own agent can give you frank advice about the condition and market value of a house, help you negotiate the lowest possible price, guide you through the maze of financing choices. In many cases it ends up so that the buyer's agent is paid through a share of the commission the seller is already obligated to pay. The one disadvantage would be if you had signed a contract with a buyer's agent so that you were bound to someone who turned out to be a disappointment, and who might be owed a commission even if you bought through someone else or on your own.
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Edith
Originally published on November 8, 2007 |
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