2007-08-07 06:29:23 · 15 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Its always a good idea to have an expert on hand. You will not have to pay anything, thier fee is paid by the seller and they can search the MLS and get leads on listings within thier office before they go on the MLS. They can help you with Market Analysis of the home and look out for your best interest making sure that all inspection, disclosures and legal documents are in order.
Best of Luck!
2007-08-07 06:38:50 · answer #1 · answered by Rebecca 2 · 0⤊ 0⤋
It is always best to be represented by someone who is looking out for your best interests. A buyer's agent doesn't cost you anything and provides a wealth of knowledge.
If you go unrepresented, then the list agent would collect the full commission, the seller has already agreed to pay the list agent X%. The list agent then agrees to split that commission with a buyer's agent if there is one involved, so you would not be saving any money off the price of the home.
You might be able to negotiate a little off the list agent, but they would still be working in the seller's interest trying to get top dollar for the sellers as well as themselves since their commission is a percentage. Also homes are on the market for longer periods of time causing advertising costs to be higher, so an agent might not even be able to negotiate at this point.
The list agent also wouldn't share with you important details such as the sellers motivation, how much they owe on the home, what the other comparables in the neighborhood are selling for, etc.
A buyers agent is such a valuable resource at no cost to you. Without even discussing the ease of preparing the offer, cordinating the inspection, showing you homes, etc.
Best of Luck! (and congrats on your future new home!)
Southeast MI REALTOR
2007-08-07 07:27:49 · answer #2 · answered by ginahermanrealtor 2 · 0⤊ 0⤋
Dar Dar a Realtor will help you find the right home for you, they will protect your rights and advise you on different aspects of purchasing a home. It doesn't cost you anything to work with a Realtor, unless you want to pay them. Seller generally pays the commission. But do use a Realtor, it's a free experienced resource!
2007-08-07 06:39:55 · answer #3 · answered by Alterfemego 7 · 0⤊ 0⤋
Realtor sale their services and informations. It is true that you are getting a free services from Realtor. keep one thing in mind, Saler wants to get a good price on their end. Therefore, they include Realtor fees. If you don't have a Realtor, saler can give you additonal discounts since saler doesn' need to pay them. At the end, it is not a "free" services. it is included in your purchase price.
Most information, you can obtain them online. Is it worth it to spend couple thousand dollars while you can spend few days to do the research.
Catalisthomes.com is a good website, you can obtain all kind of information there.
2007-08-07 07:01:47 · answer #4 · answered by Michael Y 3 · 0⤊ 0⤋
Technically, no, but you won't get a discount from the seller for not having one.
If you are a first-time buyer, it is a HUGE mistake to purchase a home without a Realtor.
2007-08-07 08:02:14 · answer #5 · answered by Expert8675309 7 · 0⤊ 0⤋
I'm right now in the process of buying my second home and selling my first. I would never dream of going without an agent. There are so many details and so many things that you can forget it staggers the mind. Also, your agent helps to protect you from any shadiness you may come across. As is quite clear from the number of defaults happening right now, a lot of people really don't care what happens to you, so long as they get their money . A good agent will protect you from that.
2007-08-07 06:49:15 · answer #6 · answered by Stoic fool 2 · 0⤊ 0⤋
You do not HAVE to but you would be a fool not to as a 1st time home buyer.
Find a buyer's agent and make sure their fees are paid by the seller and do not sign a contract to the contrary.
Good luck and have someone looking out for your interest and the pitfalls along the way.
2007-08-07 06:36:55 · answer #7 · answered by Anonymous · 3⤊ 0⤋
No, you do not. However, I would highly recommend using one. Buyers do not pay realtor fees, so it won't cost you anything. The seller has to fork over the $$ to your agent. Also, I'd hate to see you get taken advantage of.
2007-08-07 06:36:59 · answer #8 · answered by LittleMomma 3 · 1⤊ 0⤋
Typically, realtor commission is paid for by the seller, but you may want to ask an agent to be sure if they have any fees.
2007-08-07 06:32:11 · answer #9 · answered by spence72979 2 · 1⤊ 0⤋
It's not a requirement, but I highly recommend one. Seek a real estate agent who carries an ABR (Accredited Buyer Representative) designation, and engage in a contract with that person to provide buyer agency services to you.
The real estate agent will be working for YOUR best interests then, and not those of the seller.
2007-08-07 06:46:29 · answer #10 · answered by acermill 7 · 0⤊ 0⤋