I recently had a friend in another state ask me about
whether to use an agent to purchase a For Sale By Owner. The answer is Yes with a capital Y. A For
Sale By Owner is someone who is selling their home without the use of a
licensed real estate professional or has limited representation (meaning no one
there to help them along the way).
If you are purchasing a home, this will likely be the
biggest investment of your life. You
would probably not purchase stocks or bonds without seeking advice from a
financial advisor or stock broker, right?
Perhaps even your CPA? This is
the same thing – you’re making a major life decision with a lot of money on the
line. It would be a smart financial
decision to hire a buyer’s agent to help you negotiate the sale and proactively
work with the seller to avoid any issues and ensure you’re protected.
If the For Sale By Owner is a serious seller they will pay
your agent a commission because they want to sell the house. If they are unwilling to pay you may want to
ask the question – are they serious about selling the home?
There are many issues that can arise during a
transaction. These types of issues are
especially prevalent in today’s market with strict mortgage guidelines and
especially in my area of Downtown Orlando market where many homes are 70-80 years
old. Whether it’s an appraisal issue or
an insurance issue, an agent can help guide you and the seller to an agreeable
solution and take emotions out of the picture.
But let’s be clear, not all licensed agents are the
same. You want to hire a professional
agent who works daily in the real estate industry, not your friend who got
their license last year to save themselves a couple bucks on their own home
Save yourself time, energy, money, and headaches by hiring a
professional buyer’s agent when you’re purchasing a home. Also Here are 8 Important Questions to Ask when Hiring Your Buyer's Agent!
*Image credit: Casey Serin via Flicker using Attribution License