Buying a home without an agent | Does it save money?

FAQ: Buying a home without an agent | Does it save money?

Unless you buying a home from a "For Sale by Owner" you will be using an Real Estate Agent. The question is will you be using the Sellers agent (the persons name on the for sale sign representing the seller) or your own agent (someone representing your best interest).

Think about this, the Sellers Agent (guy or gal on the sign) has a fiduciary responsibility to act in the best interest of his or her client, the seller. His job is to get the most $$$ for his client. With that in mind, he could never tell you that you are offering too much or should request his seller to fix this or that. If he did, he or she would be breaching his legal duty to the client (seller).

Let's keep in mind that YOU as a buyer do NOT pay your agents commission. Which brings us to the next question: Who DOES pay the Realtors Commissions? The commission is paid through he sellers proceeds, not from your pocket! So why wouldn't you have someone on YOUR side, negotiating on your behalf, especially if you are not paying them out of pocket?

Remember the Home Buying Agent (AKA Buyers Agent, your agent as a buyer) has a Fiduciary responsibility by law to represent YOUR best interest. Not only that but a good buyer's agent knows the entire local inventory and the neighborhoods.

They will also do the searching and leg work for you. AND you don't pay them! So why resist? Let's face it, if they don't find you a home, they don't get paid. It is in YOUR agent's best interest to find you a home that YOU love and can afford. So as you can see, there is no real benefit in buying a home without a Realtor.

And one final thought, your agent should immediately give you access to their "buyer friendly" version of the MLS (Multiple Listing Service). This is the only True and accurate inventory of all homes that are listed for sale. The first thing I do when I meet a new client is give them access to my Los Angeles MLS. Once you gain that access, you can drop Craigs List or any other search site outside of the MLS!

Until Next Time,

Happy Home Hunting!

Copyright © 2010 By Stephen Munson,Munson Realty,Buying a home without an agent | Does it save money?*buy a house without a realtor,buying a home without a realtor,buying a home withoutan agent,buying a house without an agent,buying home without realtor,home buying agent,real esate agent,your realtor,realtors commissions,los angeles MLS,MLS,buyers agent*