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As you consider purchasing a home, one of the first questions you will ask is if you need to have a buyer’s real estate agent. Most people are generally familiar with the role of a real estate agent in the home buying process. However, not too many people are sure how they would fare if they were to proceed to purchase a home without one.
The first question you need to have answered is whether or not you can purchase a home without a buyer’s real estate agent. The answer is yes, you can indeed purchase a home without the assistance of a buyer’s real estate agent. There are no laws that say you must have the assistance of a real estate professional, whether it’s an agent or an attorney. You are within your full rights as a citizen if you continue through the entire process without seeking the assistance of a professional.
The next question to ask is if you want to purchase a home on your own. Understand that you are not responsible for paying commission to a buyer’s real estate agent. Think of it as purchasing a new car. You are not the person who pays the salesperson commission. In fact, as the buyer, you might not even know that commission is being paid. It is the same way when you purchase a home. The seller is responsible for paying commission.
If you decide that you want to purchase your home without a buyer’s real estate agent, you won’t have very many homes to choose from. The houses that you will have available to you are those houses that are being sold for sale by owner – without a real estate agent. Only a small percentage of homes that are on the market are for sale by owner homes.
You also have the option of checking listed markets through newspaper and home magazine advertisements, but you might end up shooting yourself in the foot with this method. The seller will still have buyer’s real estate agent representation and you will have none. There is no real estate professional looking out for your best interests in the transaction.
There are many benefits of using a buyer’s real estate agent. For one, you have a much larger selection of houses to choose from. Your buyer’s real estate agent has the ability to find every home that’s listed with a real estate agency. Buyer’s real estate agents also have more experience in finding houses and negotiating the offer.
Purchasing a home without a buyer’s real estate agent also has its benefits. It’s often easier to negotiate with a home owner who is selling for sale by owner because the seller does not have to worry so much about paying an agent’s commission. You have the complete control over the process.
Ultimately, the decision of whether or not to use a buyer’s real estate agent comes down to your preference and comfort with going through a real estate transaction. It is certainly possible to have a successful real estate transaction with either choice.
Keywords: Buyer’s Real Estate Agent
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