hi-my question is can I be my own realtor? If I hire an attorney to handle legal documents and I do the leg w

Asked by Ani, Pacific Palisades, CA Sat Nov 24, 2007

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7
CMLHoldings, Other Pro, Bartlett, IL
Sat Nov 24, 2007
Ani, I'm cheap too but news flash.....Buying Realtors are cheap, since they are free..paid for by the seller.
In CA your Realtor and Escrow company will look out for you so no need in a Lawyer.
2 votes
Perry Hender…, Agent, Austin, TX
Sat Nov 24, 2007
Think of it this way... If something goes wrong, at least you have someone that you can sue to recover some loss.
1 vote
Lorie Gould, Agent, Duluth, GA
Sat Nov 24, 2007
You can represent yourself but I believe there is a saying " only fools represent themselves". Attorneys are expensive. An attorney can help you through understanding a contract but they do not understand the market nor do they know the market.

The seller has already agreed to pay his agent a commission and the seller is obligated to pay his agent a commission under the listing agreement. The sellers agent has already agreed to share his commission with a buyers agent so you the buyer get FREE representation. If you choose to represent yourself the sellers agent gets the full commission and will have a huge smile at closing but you the buyer will not know if you got the best deal or if you missed something important that would protect you. That is a win-lose... you lose and the seller wins along with his agent. Use a FREE buyers agent and have peace of mind. You will have a smile, your agent will have a smile, the seller will have a smile, and the sellers agent will have a smile. Now that is a win-win!

A few notes:

An unlicensed person cannot receive a commission or be paid a referral fee from a licensed agent.

All monies exchanged between a buyer and seller must be on the settlement statement or it could be considered mortgage fraud. It is illegal.
1 vote
Jackie Blank…, , North County, SD
Sat Nov 24, 2007
Hi Ani,

There is no upside, only downside. Congratulations BTW in buying in Palisades! I went to school there! NICE!
0 votes
The Hagley G…, Agent, Pleasanton, CA
Sat Nov 24, 2007
Hmmm...why would oyu want to spend the extra dollars? The listing agent would then collect both sides of the commission. I assume you will be paying your attorney several hundred dollars per hour to sit with you at the home during all of the inspections? The listing agent will thank you!
Web Reference:  http://www.cindihagley.com
0 votes
CMLHoldings, Other Pro, Bartlett, IL
Sat Nov 24, 2007
Very well put Lori. No reason not to have an agent represent a person that is a buyer.
0 votes
Kurt Thomas, , 81501
Sat Nov 24, 2007
I guess that would be o.k. to represent yourself. Not sure why you would want to go through the extra effort and expense thorugh.
Most buyers agents are paid by the seller through the co op % so it is not really an cost to you.
Realtors can also access information that you would be unable to.
0 votes
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