Are there any disadvantages to using a buyer's agent when buying a house, as opposed to doing it oneself?

Answer 1

1) You are still paying a commission for a service you did not receive, that being your own agent. The listing agent simply collects both sides and services both sides. They may represent only the seller or act as a facilitator depending on state laws.
2) You may not get as good a deal as you could because you lack the experience and knowledge of what you can get or do.
3) Your agent will have contacts that will save you both time and money thru the process and beyond. This includes lenders, closing firms, fence companies, utility info, home inspectors, etc.
4) State laws hold buyer agents accountable if fraud or mistakes occur. No agent: you are responsible and could be sued. Agents carry insurance to cover their mistakes, you probably don't.

There are numerous more reasons but it is getting late and I am tired.

Answer 2

I've been a full time Realtor in San Antonio for fourteen years. If I moved to another state and was not licensed there and was buying a FSBO, I would probably represent myself. That might save a little bit of money in the transaction. In that scenario, using a local Realtor might increase the cost of the home, but I would only do it myself because I know how. If you don't, it will cost you alot more than you think you're saving.

The only other disadvantage I can think of to using a buyers agent is that your wife might find out that you really don't know everything...

Answer 3

I not sure if it helps at all but we are buying a house this week and I dont know what we would have done without our agent. He gets his money from the seller's agent so it doesnt come out of your pocket and if your lucky enough to find one like ours he was even willing to come out of his commission to cover part of the closing costs that we could not come up with. If you do use a buyers agent make sure that he has the same vision of YOUR dream home that you do and make him take you to see the house 6 times before you buy.

Answer 4

What I do know is that there are more advantages for the seller than to the buyer. The agent wants to get the best price possible because their commission will come from there.