I hear that all the time. "I'm representing myself, I just want you to show me some houses." Or my favorite, "we found this home ourselves, we don't need representation." "You have a duty to show me this house!"
Wrong on all accounts! There's an old lawyer addage that says "he who represents himself hath a fool for a lawyer." Can you imagine a surgeon saying, "I can do my own appendectomy . . . I know where to find my appendix!"
And these are "trained" specialists! Homebuyers
can really get into a trap when they try to represent themselves. I believe they think they can save money by doing this. However, when a home seller signs a listing agreement with an agent, he agrees to pay that agent a specific fee. And the agreement says that the agent will split that fee "with another participating Realtor" under certain circumstances, not with a buyer! No, not with a lawyer, either! But with a participating Realtor-member of the MLS system!
Of course, buyers can refuse representation -- but why? There is no cost to them! The fee paid to the agent who does represent them is usually paid by the seller of the home! All of this is clearly explained in a disclosure form
from the Texas Real Estate Commission (which agents are required by law to give to buyers and sellers
So, bottom line, we're not in the business of "showing houses," but rather, we're in the business of providing quality representation to both buyers and sellers of real estate in Pearland, TX
and surrounding areas, including Houston. And the good news? Avoid common pitfalls that unrepresented buyers make!
Here's a Partial list:
- Buying directly from a builder without getting a professional opinion of the necessity of certain upgrades, colors, lot locations, etc. for resale in that neighborhood.
- Thinking that "foreclosure" = "good deal" all the time.
- Believing that "auctions" are opportunities to get great values!
- Not properly analyzing sales data in the neighborhood they want to buy in.
Now is a great time to buy a home . . . just make sure you get great representation