So you’re ready to buy a home, and you obviously want to get the best deal possible. After all, every little bit helps, especially when you need a down payment! You start looking up houses and decide you’ll be better off to search yourself, find a house you like online, and deal directly with the seller to save some cash. You don’t want to pay for a Realtor, and you can find houses just fine. There’s only one thing wrong with this picture…HAVING YOUR OWN REALTOR AS A BUYER WON’T COST YOU!
This is one of the biggest myths we as Realtors hear and see from new buyers each day. The reality is that IT WON’T COST YOU TO HAVE YOUR OWN AGENT! Sellers are the ones who pay out commissions to the listing agent they have hired to market and sell their property, and that commission is split with the buyer’s agent in most transactions- only a small percentage of completed transactions have just one agent.
“But what if I just want to call the person whose sign is in the yard of the house I like?” That’s fine, but just know that the seller has agreed to pay a commission for the sale of their home, and if you call them direct, they have agreed (in writing) to look out and negotiate for the seller, and they are entitled to the whole commission.
So why not have your own agent negotiating for you? That’s a good question! Wouldn’t you want someone negotiating for you if the seller has someone negotiating for them? Wouldn’t you want to have an expert write up contracts for you so they are in your favor as much as possible? Wouldn’t you want your own agent if…IT DIDN’T COST YOU ANYTHING? Hopefully, you’re saying yes to all of these questions and now see the benefit of having your own agent as a buyer. -Swaff