If you're not comfortable without that advisor, then you should surely hire an agent to be an advocate and counsellor.
but no $ down, how about next time you're collecting your paycheck, you will only get 50% because your boss didn't feel like giving you the rest. Again, we don't pay the commission nor does the buyer; the seller does. They agree to pay 6% up front and they use that for their figures in the sale.
These "Pro"'s will do or say ANYTHING to you to try to convince you that you need a Realtor. Anything they can.
Bottom lime is that you do not need a buyer's agent. By doing it on your won you save 3%.
The Realtors love to give some long "explanation" about why this is not so, but they are just trying to get a chuck of your money.
We're a FREE service. We're compensated by the seller for working with you and guiding you along the process.
We have a great deal of information that helps enable you to make the best decision for your purchase. But, I'd normally advise NOT calling the listing agent on the property -- their primary interest lies with the seller -- and finding someone who wants to work for you closely to understand the items that you're uncomfortable with.
I'm a mortgage banker, not a realtor, so hopefully I bring an unbiased opinion here :)
I think the reason that every buyer should work with a realtor is that real estate transactions are complicated, especially nowadays with all the foreclosures,short sales, and other types of transactions out there that up until the last year or two were very uncommon.
As a buyer, you should want someone representing your best interests in the transaction. Sellers are represented, and if you've got someone going to bat for you it can help make things go a lot smoother. Look at the magnitude of a home purchase - it's likely the largest financial move most people will make. What is your price range your looking at houses for? $100,000? $200,000?? $300,000??? If you were getting sued for $100,000 you'd get a lawyer right? There are two reactions you could get from a seller and their agent - one, they refuse to deal with you because of the extra time and effort needed or two, the other agent is licking their lips because they've got a sucker on their hands.
Now you really didn't specify "why" you thought you shouldn't work with a buyer's agent. That might help with some insight. But let me just say this. A lot of people think they can handle it themselves and they'll save money or whatever, and I think the multitude of resources on the internet give people confidence, but trust me that is not the case. True there are some idiots out there, just like any profession, but a good realtor can make or break things for you.
"Oh, are you a realtor? No but I stayed in a Holiday Inn Express last night!"
A real estate agent can help you understand everything you need to know about the home buying process.
Not all real estate licensees are the same; only those who are members of the NATIONAL ASSOCIATION OF REALTORSÂ® are properly called REALTORSÂ®. They proudly display the REALTOR " Â®" trademark on their business cards and other marketing and sales literature.
REALTORSÂ® are committed to treat all parties to a transaction honestly. REALTORSÂ® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reported that 84% of home buyers would use the same REALTORÂ® again.
Real estate transactions involve one of the biggest financial investments of most peopleâ€™s lifetime. Transactions today usually exceed $250,000. If you had a $250,000 income tax problem, would you attempt to deal with it without the help of a certified professional accountant? If you had a $250,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be wise to work with a professional REALTORÂ® when you are buying a home.
If you're still not convinced of the value of a REALTORÂ®, here are more reasons to use one:
Your REALTORÂ® can help you determine your buying power - that is, your financial reserves plus your borrowing capacity. If you give a REALTORÂ® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders - banks and mortgage companies - offer limited choices.
Your REALTORÂ® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.
Your REALTORÂ® can assist you in the selection process by providing objective information about each property. Agents who are REALTORSÂ® have access to a variety of informational resources. REALTORSÂ® can provide local community information on utilities, zoning, schools, etc. There are two things you'll want to know: First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
Your REALTORÂ® can help you with negotiations and inspections. There are many negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or appliances. The purchase agreement should allow time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
Your REALTORÂ® provides due diligence during the property evaluation. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTORÂ® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports.
You will also want to see a preliminary report on the property title. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTORÂ®, title search company or attorney can help you resolve issues that might cause problems at a later date.
Your REALTORÂ® can help you understand different financing options and identify qualified lenders.
Your REALTORÂ® can guide you through the closing process and make sure everything flows together
In many Michigan Real Estate Associations that a majority of the agents belong, you wont even pay for a buyer's agent. When we started sellign real estate there was no protection for the buying side of a transaction. Now, however, with the benefit of the laws passed over the last 15 years, you can have Buyer's Agency with a Realtor and have that agent work exclusively for you during the process. No more seller interest only. Your safest and most important step in purchasing a home is finding the right agent to protect you and have your best interests in mind. Please call a local Realtor and ask them about the benefits and interview a few of them, you will find one that fits what you are looking for. Interview them, for your protection on purchasing your next home.
Most importantly, you two can work together.
When you find a good one, hang on.
You are saying you are uncomfortable having one, or not having one?