Cutting out the middle man (realtor) when purchasing a house

Asked by Anthony, Florida Fri May 16, 2008

Anyone willing to share views and strategies on cutting out the middle man - realtor - during home purchasing process? I am interested in learning what some of the barriers may be on the sell side - do many realtors now require an exclusive contract for the seller? What would preclude a seller from dropping their agent, once I approach them directly with an offer (leads not generated through their or any other agents)? Are there any potential liabilities to the seller? Please NO realtors, just folks that had done this before, or sellers/buyers ONLY. Thanks!
anthony@adro.com

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Lance King, Agent, San Francisco, CA
Fri May 16, 2008
I know you said you don't want responses from Realtors, but I think this information is useful. I am the owner of a Real Estate company, so I can tell you that any smart Realtor will get an exclusive contract with a Seller, and the listing agreements usually have a clause that they get paid a commission from any buyer who they showed the property to for a period of time after the agreement expires.

If you want to exclude Realtors from the process, look for For Sale By Owner properties if you want to buy. If you want to sell you can also do For Sale By Owner, but statistics show that most of these properties end up getting listed. There are also liability issues that could get any seller into trouble if they are not careful.

There are more and more companies (like mine) that offer expert representation at reasonable prices, and you might look to one of those companies to get the benefit of expertise and reduce liability without paying a small fortune. The most important thing if you do end up using an Agent or Broker is get lots of references and ask lots of questions.
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Anthony, Home Buyer, Florida
Fri May 16, 2008
Thanks Lance! I appreciate the insight. What is there was no showing through an agent? Are these clauses specifically on showings, or ANY sale of the house?
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