What is the pro's & con's when dealing directly with the home owner vs. an real estate agent when buying hm?

Asked by Wanda, Orlando, FL Thu Apr 2, 2009

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6
Mike Luzzo, , Orlando, FL
Thu Apr 9, 2009
Wanda, the Pro & Con:

PRO:
Homeowner :
1.direct contact
2. less paperwork
3. no real estate commission

CON:
Homeowner:
1. they will will lie to you
2. they will not disclose
3. your contract may not be legal

PRO:
Realtor (if you have a good one)
1. will represent you through the process
2. will negotiate all aspects of the sale and save you money
3. will ensure all aspects of contracts are legal and binding

CON:
Realtor (if you have a bad one)
1. will not provide you the correct information on which to base your decisions
2. will not negotiate in your best behalf because they lack the skills
3. will cost you money and time

If you feel you do not have the experience of dealing with the transaction of purchasing a home, contact a real estate in the office and ask for the type of real estate professional who specializes in the type of property you want to purchase. Ask to see their last 12 months closings and sit down and interview them and see if you feel comfortable in hiring them for the job of representing you. Good luck.
1 vote
Rick Aguirre, Agent, Orlando, FL
Fri Apr 3, 2009
Wanda,
Great question.
In Short I would say Experience , knowledge of the market and understanding of the process ( i.e) the due diligence.
Hope this helps.
Realtor Rick.
1 vote
Broker Dave, Agent, Orlando, FL
Thu Apr 2, 2009
Wanda,

In one sentence,

A Realtor is looking out for your best interest first; the home seller is looking out for himself.

Check out this link on Realtor.com: http://www.realtor.com/Basics/AllAbout/Realtors/Why.asp

Also look for a Realtor with designations which again helps you and shows their commitment to there profession,

I have my Realtor, ePRO, GRI and Green designation and I'm a Broker.

Take time to explore my website: http://two4oneoforlando.com

Dave Lowe, Broker Two4One of Orlando
GRI – ePRO – GREEN (Designations)
Web Reference:  http://two4oneoforlando.com
1 vote
Gay Middleton, , Orlando, FL
Thu Apr 2, 2009
Wanda,
May I ask you a question? What are the pro's and con's of representing your self against a large lawsuit vs hiring an attorney? What are the pro's and con's of suffering with an unknown illness and going to Walgreens and reading labels trying to find the right remedy vs visiting your Dr. for a diagnosis and the correct medications or treatment? I thought so! Most folks would not even think twice about the best answers here.

The truth is many Home Buyers take for granted the largest purchase they will make in a lifetime. Signing reams of paper at a closing without even reading them, walking thru an Open House one time and signing a contract to purchase as if buying groceries at Publix. Do Not (as the old saying goes) have a fool for a client!

Realtors are professionals, choose a Professional. Choose a Full Time Experienced Agent that will have your back. Realtors are held to a code of ethics, home sellers are not. Realtors are licensed and therefore must provide a service that is tested and checked. There is continuing Education. There is day in and day out experience. Home Sellers may or may not be educated about the laws or have the experience to negotiate with a bank or know what to do if the home does not appraise. Many people feel that if they negotiate directly with the seller that they can save the "commission" the seller may be offering on the sale. The reality is the money the seller may save by working with you ( the buyer) directly is not going in YOUR pocket. Believe it.

A good Realtor will use his/her negotiating skills to get you the best terms. A good Realtor will place your needs and wants above his/her own and will advise and hold your hand all the way to the Moving Day! I have even delivered pizza to a family in need of a meal after a full day of moving in. It is just what we do and I for one love what I do. I know I can save you time and money. I know there are skeptics, there will always be. That's ok. You asked and I answered honestly. If you are thinking of buying I hope you take the time to hire a Realtor for your very own! Today more than ever.

Thank you for asking and take the time to visit my website for more info about my experience. Call Me, Lets Talk!

Regards,
Gay Middleton
Realtor
407-493-3699
Web Reference:  http://www.gaymiddleton.com
0 votes
Brady Peveho…, Agent, Orlando, FL
Thu Apr 2, 2009
Wow, this sounds like a loaded question....
Broker Dave said it like a PRO.

Wanda, don't forget about the fact that the SELLER usually pays for our services, so you get representation at the cost to the seller, whomever that may be.

As a buyer, you would be attempting to deal directly with the seller, it may only work if you know the seller personally, but even then you may want someone (a 3rd party) looking out for your interest.
Imagine the time and money (travel expenses, + aspirin) you would save by allowing a professional to do what we do for a living?
0 votes
James Pruett, Agent, Longwood, FL
Thu Apr 2, 2009
Wanda--The real estate professional license stemmed from buyers being abused. So protection of your interests primarily, but over 180 other reasons in total. Do you know how to negotiate or write a contract for example, do you know whether the asking price is a fair market value, the list goes on and on. Should you risk jeopardizing the largest purchase you make in a life time, and one that might effect you for a long period of time?
0 votes
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