Home Buying in Norwood>Question Details

Bill, Home Buyer in Boston, MA

Does a buyer typically use a broker in a 'for sale by owner' situation?

Asked by Bill, Boston, MA Sat Feb 26, 2011

I found a house in which I'm interested, but don't yet have a broker and don't know if buyer's brokers are typically used in a FSBO situation.

Any info is appreciated.

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Lynn Crosby’s answer
FSBO - usually can be rather a sticky situation for all parties. Seller who does not understand real estate and procedures, buyers agent THEN has to do both sides of transaction get paid for one side.

I usually shy away from these circumstances also due to liability issues of I am licensed and property owner is not represented I could be sued for taking advantage of FSBO

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
1 vote Thank Flag Link Sun Feb 27, 2011
Honestly, you could get a better deal either way. Your realtor is being paid by the seller, but most people use a realtor so they expect to pay out anyway. If they say they will lower the sale price if you don't have a realtor that is great, but buyer beware.
1 vote Thank Flag Link Sat Feb 26, 2011
Absolutely! It's all about making the best deal which includes all the aspects of a purchase above and beyond price. An advisor can do nothing but help you in every way with all the details that you and the seller may be clueless about.
0 votes Thank Flag Link Mon Apr 25, 2011
Alot of additional information can be found out by the Realtor that a Buyer will not get or receive. Knowledge is power and this is the single largest investment a Buyer will be making. FSBO prices are sometimes out of whack, the Buyer is concealing defects, and sometimes could also have liens or other negatives which an Agent could and should find out. Better safe than sorry! Have a very loyal Buyer(actually 2) who email or call me to check out homes not listed. They want me to be there because I will point out all negatives, if any.
0 votes Thank Flag Link Sun Feb 27, 2011
The short answer is that they should. Buyers should always have experienced representation on their side. Most FSBOs are willing to pay a buyer agent commission if a buyer agent brings in a buyer. Many FSBOs may also list their house on the MLS & offer a buyer agent commission. My approach is to contact a FSBO owner on behalf of my clients, tell them I have someone interested and ask if they are offering a buyer agent commission and then take it from there.
Good luck with your home search!
0 votes Thank Flag Link Sun Feb 27, 2011
only if they are smart. even if you have to pay the commission yourself. You need someone to negotiate on your behalf
0 votes Thank Flag Link Sat Feb 26, 2011
Bill, the answer is yes. Using a broker to represent you as a buyer is definetely in your best interest. As a buyers broker the realtor/agent represents you. He/she has only your best interest in mind along with a fiduciary responsibilty to you and ownly you. An experienced realtor will have in depth knowledge of the marketplace, a solid understanding of where the market has been and the direction it is heading. Since we do it day in and day out we are up to date on the big picture and also what is happening in the neighborhoods. It is very important in order to negotiate the best deal for a client to be familiar with the inventory in that neighborhood and/or area. This type of hands on knowledge is critical in negotiating the best deal for you with the seller. We also educate and guide you through the entire process from the offer to moving in and beyond. We have access to vendors, skilled craftsman, and can also help you to get pre-approved and/or financed through a competitive institution. Our goal is to get you the best deal and to make the transaction seamless. Please feel free to go to my website for information on schools, towns, and many articles for buyers. You can also search for homes for free. We would be glad to meet with you to discuss your needs and to see if we are a good fit. Best of luck. I certainly hope we have helped.
0 votes Thank Flag Link Sat Feb 26, 2011
As a buyer in today's market even though you can find a lot of answers from the internet, you still need an experience person on your side to negotiate especially in FSBO situation to take the emotion from both sides
0 votes Thank Flag Link Sat Feb 26, 2011
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