I am looking at buying a new home for my family. We have found one that we would like to make an offer on. The seller is represented by a real estate agent. My question is, do I need to get a real estate agent/buyer agent to represent me in order to write up an offer and complete the transaction? I have bought and sold houses before and I don’t need any handholding. I don’t really need the services of a real estate agent at this point and don’t want to pay a commission. I would be comfortable just getting an attorney to draw up paperwork for me. Is there any pros/cons/pitfalls/other options that I need to be aware of? Thanks!
Glad to have you posting.
The short answer is yes, you should use a realtor/buyers agent. The seller is the one who pays the commission, not the buyer. The 6% commission will come out of the sellers proceeds at closing. If you don’t have an agent then the sellers agent will get the entire 6%. If you are represented by an agent then the 6% will be split, 3% to the selling agent and 3% to your agent.
You said that you’ve “bought and sold houses before and I don’t need any handholding”, but since you were not aware of who pays the commission I’d say you could use a little hand holding. The seller is paying for it, so take advantage of it and get and agent to represent you so you don’t get taken advantage of. I use agents all the time and I’ve done lots of deals. Everyone needs a team.
Thanks for your reply Stacy. I guess that I should’ve been more clear in my post. I was aware that many times the seller will pick up the commission, but that is not always the case since that can be used as a negotiating piece. I was just trying to see if I could have an advantage by not using one. I have been burned by several agents in the past and in this case in particular, I don’t need an agent to show me houses, help me obtain financing, etc. If there is anything else I’m missing, I would appreciate the advice.
It’s true, not all agents are created equal. If you’re in Austin I can recommend some agents to you.
I still recommend using one. If you got burned by using an agent then just imagine what might happen without using one.
I don’t “need” to use agents either, but I do.
Let me know where you are and I’ll see if I know someone.
Thanks for the advice Stacy. I am in the Harlingen area, so if you (or anyone that reads this) could recommend any buyer agents/real estate agents in the Harlingen/McAllen/Brownsville area, I would appreciate it. Thanks!
I’m one of those anal retentive folks that is a nightmare for everyone involved in a traditional deal. I want to understand everything and because of this, it wasn’t long before I discovered I had more knowledge than most other folks in the transaction.
That said, I still make mistakes, forget things, and get too busy to follow-up as needed. It’s nice to have someone to bounce things off of, especially if the seller’s footing the bill.
It also depends on the agent. For example, my mother is a licensed broker and has been for 20+ years. We rarely do anything together, but when we do, she always has a few insights based on the traditional agent perspective that I would have missed. We also frequently disagree on which way to play something, but it’s nice to have that experienced input.
I guarantee you that someone who’s been making their living as an agent for many years has value on the team, regardless of how smart I may think I am… :oops: