How can you buy a house without using a Realtor?

Question

I've dealt with about 4 Realtors already in about 2 years trying to find my first home (in California) which has been so far a bad experience and unsuccessful. In my experiences thus far I'm come to the conculsion that all Realtors are just greedy used house salesman who really don't have my best interest in mind. How do I go about representing myself in looking at houses or if I want to make a offer on a home. I would like to eliminate a Realtor altogether as a middle man. I would appreciate any advise given!

Answer 1

After taking Real Estate classes I've learned it is far better to use a realtor because they do all the paperwork for you and that can be a major headache. But if you want to do it yourself you will have to hire an attorney who specializes in Real Estate to write up the contracts and make sure the transaction is completed legally. You say you have dealt with Realtors before, were they just showing you the houses or were they your "buyers agent"? A buyers agent is a real estate salesperson who reprsents a buyer. They will find houses and also show them to you, you are their client and they are on your side, it becomes their legal duty to protect you. They must do what is in your best interest and cannot share any private information with the seller or anyone else. If what you had before was a buyers agent and they did not do what was in your best interest write a letter to your states Real Estate Commission. Buyers Agents have no attachment to the seller, unless they are a dual agent, but I do NOT recommend this at all as it means they represent both the seller and the buyer and therefore cannot be loyal to both parties. They must tell you this upfront and if they are, I'd find someone else. Good brokers do not allow Dual Agencies, but they are legal in some states. For them to become your "Buyer's agent" you will sign a contract, they do not get paid unless they find a house for you and the deal gets closed. They can either be paid by you, by the seller, or you can make a lower offer for the house to cover the fees, also the listing broker may split her commission with your buyers agent, it all depends on that specific situation, but most of the time you as the buyer will not pay the fees, it generally comes off the selling price or the listing brokers splits. I hope this helps and if you need anything else you may contact me by email. Good Luck!

Answer 2

You don't need a realtor but they know all the paperwork and have the connections to make everything go smoother. Honestly, don't buy a house from a friend without a middleman. There are so many things that can go wrong and you dont want to lose a friend over money or possessions. A realtor can help, if by no other way than by being a scapegoat when something goes wrong. Good luck.

Answer 3

Let me get this straight: you've been looking for your first home for two years now and you've been through four Realtors. Why is it taking you so long to make a decision? Maybe your Realtors got tired of helping you!

If you do the math, two years divided by four Realtors equals six months of time with each agent and you still haven't made a decision to buy? My suggestion would be to a) make a decision that you're going to actually buy and then, b) find an experienced agent whom you like. I agree that there are greedy, ignorant Realtors out there but there are many experienced agents who will always look out for your best interests.

Answer 4

I know how you feel. I dealt with all types of agents and deal with them on a daily basis in my business. You should forget about a buyers broker because even though they are supposed to represent you there commission check comes from the seller. I personally feel that they still want you to pay close to asking price for a larger commission check. I was working with a realtor and the broker of the company approached me and said "your offer is low can you come up higher" before it was presented to the other side (this was a buyer broker). All you need is a lawyer. You can look for properties listed without a realtor but most houses are listed with a realtor.

Answer 5

To buy a home on you own without a Realtor isn't a terribly hard process(it does put you at a substantially higher risk, but i would recommend having an attorney in that case actually do they contracting and sale of the home) but the property you needs to find has to be a For Sale By Owner(to avoid paying us greedy Realtors anything) or you can call off signs and the Realtor that has the listing will make 2x the money. Commission is a set amount agreed to by the seller when they list and put thier home up for sale. Half goes to the listing agent and half goes to a agent working on your behalf and looking out for your interest and negotiating on your behalf in you best interest. So if you call off signs and the listing agent sell it double payday for him/her. And he will defiantly pay attention to you.

My suggestion would be to call 3 local real estate company's and ask the front desk person the question "Who is the most attentive and nicest qualified agent you have, I am ready to buy a home but I want a very high level of service" and they will give you the name of an agent or 2 in there office. meet with them and interview the 3 to 6 agents for the job of finding you a home. Pick one and If you are serious about buying a home soon when they find you the best deal. This way you will find a highly qualified agent ready to do there job.

As a Realtor in Southern Utah for 5 years I would say that from experience the honest answer to your question is that Realtors are in the business of making money to support there family, if they don't see you as a serious buyer they will move on to someone that is willing to buy, people that want to look for 2 years, from a time investment standpoint and if you look at it from our point of view isn't a good use of our time. But if you are ready to buy soon contact a good quaffed Realtor and find your home.

Answer 6

The only way to buy real estate without involving a real estate agent is to find a property for sale by the owner (FSBO) and you see it in ht enewspaper, drive by etc. Any property LISTED on the MLS (www.realtor.com) is listed with a Realtor.

My guess is you have not worked with the RIGHT agent for YOU. A buyers agent is more versed in what a buyer needs/wants. They are tuned in to YOU not the seller. Regardless, every agent in the business has an obligation to disclose property detailsand act in GOOD FAITH. MOST agents are there to close real estate transactions - that is the ONLY time they get paid. In today's market houses are on the market longer and prices are dropping. If an agent is driving you around to look at homes, that expense is being fronted by the agent until you close escrow on a home that THEY showed you.

One thing that MAY help this process ifyou decided to give a Realtor another chance. Spend some time with them explaining as best you can what you are looking for. Many buyers are not sure what they want but they are sure of what they DON'T what - share whatever details you can that will eliminate you looking at homes that you would not be interested in.

The buyers agent is PAID by the selling agent - the thought that you would pay MORE for a house because you have an agent is ONLY true in the For Sale By Owner (FSBO) scenario. But in many cases the seller lists his home for the same market value and pockets the real estate agent commision himself and does not pass on a lower price to you.

Be careful when you go it alone in real estate.

Answer 7

All the realtor really does is coordinate the various paper works and factors involved in selling you a home. I would suggest finding a really good book on buying and selling that will give you the details about the paperwork involved and all that. There are many resources on line as well. The main thing is to know how to make an offer in writing. Then, when the offer is accepted you have to coordinate the paperwork with a title company. They're the ones who really matter. Actually if you talk to a local title company in your area, they may be able to steer you in the right direction to find the learning materials you need to get started.

Answer 8

If you said you had 4 bad Realtors, I would say its just poor luck. The fact you mention you have been looking for 2 yrs leads me to believe you are not a serious buyer, maybe they got the same impressions. We are not all out just to make a sale as you say, but when you look for 2 years maybe the Realtor is losing interest, and did just want to get a sale done with. I would say find a well qualified Realtor, establish a time line so they know where they stand, and start looking again. There are good Realtors out there, but for every good one there are 100 bad ones. sorry for your misfortune.

Answer 9

There are a lot of homes for sale by owner. You could start with these. If a home is listed by a Realtor you will have to deal with the sellers Realtor, you have no choice

Answer 10

Yeah I'm having the same problem and that's just to rent a house to get out of my hell on earth apartment. In NJ, I don't know if it's the same everywhere but take a ride and you may see signs on houses "for sale by owner" a lot of people feel the same way you do about realtors (i.e. they suck) and people don't want to deal with them. Also try your local classified ad's or whatever state you live in .com i.e. www.nj.com they would have listings too. Good luck, I feel for you.