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Home Buyer Advice

Why use an agent rather than doing it yourself ?

• It will cost you nothing because the seller pays the commission.
• It will save you time to deal with one agent who can coordinate viewing appointments on your behalf with all of the other agents involved.
• You will get valuable advice on the real value of the property you want to buy instead of relying only on asking prices and misleading feelings and impressions. Your agent can tell you what similar properties in the area actually sold for in the past, not just what sellers are currently asking.
• You will have an experienced professional negotiator on your side when it comes to making an offer. The listing agent acts for the seller, not for you, and has a strong interest in having you pay as much as possible.
• Your agent will handle all the paperwork, check it thoroughly, and be responsibe for errors and omissions. Your agent knows the procedures and will make sure they are properly followed to serve your interests.
• Real estate is possibly your biggest investment other than your health or reputation. Is it smart to be your own doctor or lawyer ?
• Your agent has access to mortgage specialists who may be able to save you money and can often make an otherwise impossible situation come together financially.

In short, there are many advantages to engaging a realtor to act on your behalf, and no real disadvantages. Doing it yourself is time consuming and not without risk. Imagined savings are often lost, and more, through a weakened negotiating position. An investment of the kind you are contemplating deserves the best you can give it. Get professional assistance, and consider our advice on choosing a realtor or contact Dot.

Be sure to read our page on agency before you engage an agent, so you will appreciate the role of a Buyers' Agency Agreement. See the list of common mistakes made by both buyers and sellers of real estate, and take a look at Dot's services page to see how Dot can help you with your real estate needs.

What if I want to buy a FSBO (For Sale By Owner) property ?

All the more reason to have an agent.

With a FSBO property you have no assurance that the asking price has any sound basis in fact. Your agent is equipped to determine the real market value of the property and advise you from a detached and professional perspective.

Most sellers are willing to accept any offer no matter where it comes from, and will gladly pay your agent a reasonable commission to get your offer. You may feel you would be able to get a lower price if no commission were involved, but this is not necessarily the case. Most FSBO owners are normal and reasonable people, but there is a greater than average probability that you will be dealing with a strong minded and agressive person. A good realtor will earn her commission by negotiating strongly on your behalf and getting you a better deal than you could on your own.

If your seller is not a professional there should be someone involved in the transaction who can handle the paperwork and procedures properly. This often makes a FSBO sale considerably more work than normal for a buyer's agent. You really do not want to take that burden on yourself, or rely on someone without your interests at heart to carry it for you.

If you are still in any doubt, you should take a look at our advice for sellers and give some thought to how and why a FSBO property gets onto the market.