So I am looking at buying my first home, *legally* as a Realtor do I need to be represented by another agent during the transaction?

Asked by Sylvia Wesolowski, Los Angeles, CA Tue Jul 12, 2011

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Jo Soss, , Bremerton, WA
Wed Jul 13, 2011
BEST ANSWER
No you don't need to be, however you will want to look at your office procedures and discuss it with your broker. Your office will have a policy that spells out what you can and can't do when purchasing your own property. You will have to disclose you have a real estate license. What many agents do is ask another agent in the office to write the offer and follow the transaction. I have purchased several homes as a licensed broker and I can tell you when you do it all alone you are more nervous that you will make an error or miss something. Another set of eyes would be in your best interest.
0 votes
Andrew Jones, Agent, Venice Beach, CA
Sat Jul 16, 2011
Hi Sylvia,

That's why I got my my real estate license in the first place... to save money on my own transactions. Now the tail is wagging the dog. Best of Luck
0 votes
Terry Perdue, Agent, Chicago, IL
Tue Jul 12, 2011
Not at all. You are a pro. I've purchased my own property. Took myself through all of the steps and got paid a commission. I just read that you just received your license. If you have questions ask your broker. The most important thing is to disclose your status as a licensed realtor. Good Luck!
0 votes
Ron Thomas, Agent, Fresno, CA
Tue Jul 12, 2011
I remember my first few deals: I was petrified. So afraid that I would say something wrong.
And I had it worse, my Broker is in El Sobrante. I didn't have anyone by my side.
But he was a phone call away and I used the best tactic I can share with you:
Repeat after me: "I'm not sure, let me do my research and get back to you."

Read a lot. Go to MLS meetings. Read Q&A on Trulia. Do lots of Open Houses; volunteer to do them for other Agents. Read a lot. Go to MLS sponsored seminars. Oh, and did I mention; read a lot.

Good luck and may God bless
0 votes
Emily Knell, Agent, Huntington Beach, CA
Tue Jul 12, 2011
Legally, I think you could do it yourself, however I suggest for your first home & with your only having just obtained your real estate license 2mos ago, you should work with another agent. I see your broker is in Temecula, have you been in Los Angeles very long?

I think you would greatly benefit by allowing another agent to represent you, this way throughout the entire transaction you can learn a great deal about the area, the contracts and each & every step of the process.

I have been a Realtor for 15yrs now, please email me Directly if you'd like to talk to me some more. I don't look back on this same Trulia posting for answers after mine, because it fills up my email inbox.


EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
Servicing clients within 300mi of where I live successfully!
0 votes
Sally Grenier, Agent, Boulder, CO
Tue Jul 12, 2011
I don't see why you would need to. However, you'll want to disclose to all parties (listing agent, seller, etc) that you are a Realtor. You should double check with your managing broker. If you're buying and not using another agent as your buyer's agent, you could probably negotiate a lower price, since they won't be paying a buyer's agent commission.
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