What are the disadvantages of buying without an agent? I have already checked the neighborhood prices and zerrowed in on the community.

Asked by Ritu, Morrisville, NC Fri Jul 1, 2011

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Sheelah Clarkson’s answer
Sheelah Clar…, Agent, Hendersonville, NC
Sat Jul 2, 2011
Hi Ritu -- To be honest, I see no advantage for you to buy a home without the assistance of an agent. The agent provides you with professional assistance throughout the process and that agent is paid commission offered by the seller (in 99% of cases). Beyond, that -- what Mack McCoy said.
2 votes
Mack McCoy, Agent, Seattle, WA
Fri Jul 1, 2011
Well, Ritu, what do you know about houses? Do you know about construction, finishes, siting, the things that would affect value for two otherwise similar houses?

Do you know about the things that will affect the resale of the home, do you know what the upside potential would be for improvement or the downside of plans for the block?

To give you one example of a homeowner who boasted of the "steal" that they found on their own . . . it had an entry that was below grade on a street of houses with entries above grade. They didn't notice the privacy problem until after they'd moved in . . . and they didn't realize that homes with entries below grade were worth less anyway, so their "steal" wasn't really so much of one.

The reality is, you don't know what you don't know, and in order to catch up to, well, let's say, "me," you'd need to attend a three-digit number of inspections and have evaluated a large four-digit number of homes for the marketplace.

Aside from that, there's the knowledge of how transactions are customarily negotiated, from the contingency level through to closing . . .

Let's simply say that you're not going to be at an "advantage" without an agent.
2 votes
Scott Hulen, , 64068
Thu Jul 7, 2011
Read Macks answer he is correct! The only thing I would add is use a full time agent who has done the type of deal that you seek aka new construction, REO purchase or short sale or " normal transaction" . Interview 3 agents and make sure they return calls promptly. Again use a full time agent for all the reasons Mack sited and because the contract process has gone insane, my last fannie mae deal 61 pages! If you dont fill out the forms on a regular basis its very hard to do so if you only practice 2-3 times per year. good luck Scott
Web Reference:  http://www.randshomes.com
1 vote
Jeffrey Cotn…, Agent, Canal Winchester, OH
Sat Jul 2, 2011
Hello Rita,
As a buyers agent.... I'm working for YOU the buyer. The selling agent is working for the SELLER, not the BUYER. Don't be mislead on this issue, it is very difficault for the selling agent to look out for your best interest as the buyer. Plus, it's FREE... It cost you nothing to use a realtor to buy a house, the seller pays the fees.
1 vote
Debra (Debbi…, Agent, Livingston, NJ
Fri Jul 1, 2011
Are you at least planning on using an attorney?

There is a lot more to buyng a home than just picking one out of the lineup, and having a passing familiarity with the neighbrhood.
1 vote
Sharon Lewis, Agent, Garner, NC
Tue Aug 16, 2011
Money, protection, home inspection results, negotiations, problems you can't see with a home, we can....the list is long and endless. Why wouldnt you use a broker? Statistics prove that people who buy homes without representation cost themselves money. I hope you take advantage of using a professional to guide you through the home buying process. There is so much there that you don't know to look for.
Please feel free to contact me, I live and work in this area.
Sharon Lewis
Keller Williams Realty
0 votes
Sharon Lewis, Agent, Garner, NC
Thu Jul 7, 2011
Rita
I live in Morrisville and sell homes in The Triangle. As a realtor who works with a lot of buyers, my concern for you is you are not protected on the purchase transaction. An agent or Realtor, our job for buyers is to protect them through the process, the SELLER pays our fee, not you. We don't cost you anything. You are welcome to go on my website and look at my list of recent referrals, I keep them up to date. You can call anyone of my recent clients. My list of things to do once you go under contract is well over 200! More importantly I will make sure that you do not over pay for a home. Please feel free to call or email me, I would welcome the conversation! Here is website.
Thank you
0 votes
Shanna Rogers, Agent, Murrieta, CA
Fri Jul 1, 2011
Hi Ritu,

A Realtor knows all the paperwork, inspections, etc involved in a Real Estate transaction - so nothing gets 'missed' that could be 'harmful' to you in the future. A Realtor can also negotiate with the Listing Agent/seller for you - against potential competing buyers.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes
Sergio Herna…, , Naples, FL
Fri Jul 1, 2011
Making very expensive mistakes that could have been avoided is probably at the top of the list.
Web Reference:  http://www.golftobeach.com
0 votes
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