Buying on Your Own vs Using a Buyer's Agent

Well, here we are in 2021 and it seems that this age old question keeps resurfacing about going it alone when buying a home or property. We've addressed this before and the conclusion is the depends on the person; Buyer, Investor, or whomever and their ability to deal with the complexity of buying a home or property. Many investors have a team in place to deal with everything from writing an offer up to the final day of closing, but the majority do not. As we've stated from the very first time we've broached this topic, the use of a Buyer's Agent (or Realtor®) is not ALWAYS just about the numbers.  

If it IS just about the numbers for you the one thing that's probably most important to find out is if the property is listed by a Listing Agent or Realtor®, do they have the ability and WILL they adjust the commission rate if there is no cooperating Broker. Notice we said "Broker" and not Agent or Realtor? When asking this question in the case of the Listing Agent it's important to know that the answer for whether the commission can be reduced is up to the Listing BROKER and not the Agent or Realtor®. Make sure this is verified in writing because the reality is the commission actually belongs to the sponsoring Broker and NOT the Listing Agent, so their compliance has to be verified, and like anything else, this is not a guarantee. 

Of course we here at love our Realtors® and Agents, so telling you this helps to protect them as well as you being a potential Buyer, but also leads one of the core principles of our website, and that is direct communication. If you are active in real estate, it's nearly inevitable that you'll one day speak to a Listing Agent on your own behalf, so knowing the right questions to ask and the right documents to request can save you thousands. The other side of that coin is that we ENCOURAGE our Realtor® and Agent friends to be negotiable in their commission rate, and of course do so with the blessing of your Broker to account for those potential Buyers who may not be represented by a colleague in the profession. Doing so will create a "WIN-WIN" for you, your Seller, and the Buyer so it's to your decided benefit to show that like everything else in the transaction, when there's room to wiggle you can do it just as well! 

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