2007-03-23 14:13:49 · 5 answers · asked by Peaceful 3 in Business & Finance ➔ Renting & Real Estate
You can buy without an agent but as their fee is in the price and taken from seller proceeds why would one want to ? The degree to which an agent can benefit you is dependent on the agents skills and work ethic. The typical benefit is that they understand the forms used and can handle details that are often misunderstood by those unfamilair with the processes involved. A real good agent can help you with everything from locating top inspectors,insurance agents and lenders, to preparing proper addendums and obtaining answers to questions that will arise. Remember there are agents and there are Realtors, Realtors are agents that are also members of an association and generally offer the best service.
2007-03-23 16:27:09 · answer #1 · answered by Kevin H 4 · 2⤊ 0⤋
sure you can. it just depends on how thorough you are. a realtor is like your family doc. you probably know when you are having an allergy attack. but can you tell if it's going into a sinus infection, or strep????
It's when it gets nasty that you need someone with the training to cover your butt... and no, I'm not a realtor. But we have bought several homes, personal and rentals and I see the need for realtors.
depending on the area you are buying.... you need to remember.. make sure you can get your good faith deposit back if the appraisal doesn't come back with the pricing up to par, or that a termite bond is in place and renewable, how long has it been there? when the inspection comes up.. what are they going to pay for, what can you live with fixing for yourself?
A GOOD agent will have comps in the area you want to be, will have access to financing options, access to insurance records for any previous insurance losses on the property.. We had someone put in writing that there had been no previous structural damage.in the last 5 yrs.. when I went up in the attic.. there all these really pretty new trusses and shiny new hardware. When I asked our realtor if she had the ins report yet.. sure enough.. a tree had gone down the year before and hit the back of the house.... 200,000 in damages... the other realtor was so embarrassed to be caught with a lie on a disclosure it was hysterical. we offered them 80,000 less than they were asking, they were asking a reasonable amount, but it was a spaghetti approach ---- throw it up and see if it sticks. It stuck. They didn't even counter. The question that the other realtor didn't ask------- were the repairs done right? The repairs were done beautifully. our realtor had already checked with the contractor that had done the work. but the other realtor panicked. Our's was prepared, and saved us a bunch of money.
You need to find out if you can find a good agent, and then see what they can do for you.
The best reason---------as a Buyer.. a realtor doesn't cost you a thing.... the seller pays the commission. So why don't you see if they are worth their salt.
2007-03-23 21:37:29 · answer #2 · answered by larsgirl 4 · 1⤊ 0⤋
Agents are basically sales people. They get paid by sellers to market the property.
You can hire a "buyer's agent" - who is a normal agent who will help you find a house and deal with the transaction. They will split the commission with the listing agent - all without involving you. It doesn't cost you anything.
Using a buyers agent is rarely a bad idea - they help you navigate the process, which can be cumbersome. There are some properties (particularly FSBO's) where the seller will state up front that he/she will not pay buyers agents - in that case, they will probably conveniently skip that piece of inventory.
The typical debate is whether to use an agent to sell - since you pay 6% - which is a bit much in this market - after years of appreciation.
2007-03-23 21:23:24 · answer #3 · answered by Fermat's Last 1 · 3⤊ 0⤋
As a buyer an agent costs you NOTHING. If you don't have an agent, the listing agent will usually act as your agent in the transaction, but the agent really works for the seller, not you. You are much better off using an agent who will solely represent you in the transaction and give you advice that benefits you, not the seller. Not that the seller's agent will willfully mislead you, but you do need to know if you say something like "I am going to offer $240,000, but I would really go as high as $265,000" that the agent is going to tell the seller that bit of info. If you have your own agent, that info remains between you and the agent.
2007-03-23 21:20:13 · answer #4 · answered by Anonymous · 2⤊ 0⤋
sure you can buy a house without a realtor...ever heard the expression "buyer beware"? The process of buying a house is a tedious one filled with legal manuverings...a realtor can advice, negotiate and protect you from trouble...be smart and hire one
2007-03-23 21:22:03 · answer #5 · answered by Anonymous · 3⤊ 0⤋