River Shoals

Carter Grove Plantation

Buyer Representation

I was at a networking lunch today and a lady was talking about her friends who were buying a house but they didn't want to use a Realtor. She said they thought they would be fine on their own plus the would be saving money. I guess since I do this every day I don't always realize what people know and don't know about the real estate business. I want to tell you what I told her, just in case any of you are having the same thoughts. You don't ever want to buy a house without your own Realtor unless you are and investor or someone who has bought and sold, well, as many properties as most Realtors. If you might have a question like "what should I offer" or "what would you do about this or that" then you need someone with experience. Here is a scenario to explain. You are house hunting and you see a house that looks interesting. So you call the agent on the sign to show you the house. The appointment is set, she comes out and opens it up. You fall in love and want to buy it. She will be happy to write you an offer and she can. However, there are two things that most buyers don't realize at this point. Number one - you aren't saving any money by using having her or him as the only agent. The commission amount was set by the seller at the time of listing and it will be paid by the seller at the time of closing. The commission amount is normally set with 2 agents in mind (a listing agent and selling agent) who will split this money. But, if the listing agent is the only agent involve then the commission rate stays the same and she or he just takes both sides (which makes for a happy agent). So there are no savings to be had. And 2nd - the listing agent represents the seller. Not you. So if you want to discuss anything with the agent such as price, she is legally bound to go repeat it all to the seller. So lets say you are thinking of offering $200,000 for the house but would pay $220,000 and the listing agent (the one on the sign) is the only one involved. After you finish discussing what you want to offer vs what you will pay and you have her help you write the $200,000 offer up, she is going to race to the phone the minute you are out of earshot and tell the sellers every word you have said, especially the part about you being willing to pay $220,000. So in addition to not saving anything on the commissions, you will end up paying your top dollar instead of getting a better deal. So if you are thinking about buying give me a call so you will have representation, you'll be glad you did!