Buyer Options

"Your major decisions in how you want to proceed in buying a home will be based on your beliefs about yourself and your belief about Realtors!  The options are there for you, but you need to make sure that you make the right choice for you!  Carefully consider each of your 7 options below."

Buyer Options

1)   Go it alone... find a home, buy it, and move in! This is often the choice when you believe that you can find out all you need to know about buying a home on your own.  This option also allows you to boast to your friends, " I did it all by myself, saved money, and got a great house!"  Can you be sure?  An example of this option, would be to buy a for-sale-by-owner.  You might think, "Well, I will at least subtract the 3% the seller is willing to pay an agent, and then a bit more.  That will save me and the seller money."  How are you going to know that the home is priced reasonably in the first place?  I also may point out that a FSBO is not obligated to fill-out a Seller's Property Disclosure.  Even if you do an inspection, there are many things that will not be known. Later, you can do nothing about it.  Many buyers have been caught up in this option, and are stuck later.  An agent might be able to find you a better house and for less money or help secure the transaction with the for-sale-by-owner.

2)   Find a house, go through an online agency who will do the paperwork and rebate part of the commission to you.  Belief is that this will put money in your pocket, so you must have saved money by not using a Realtor to consult with you and guide you and protect your interests.  Have you really?  You may have $5,000 in your pocket right now, but you don't know yet what that is going to cost you in the long run.

3)   Find a house and then get an agent who will discount her/his commission and do the paperwork,negotiate as I want, allow me to use a friend to do the inspection for free as he is a builder, find my own mortgage company, and then come to closing to explain the paperwork.  First of all, if an agent is willing to discount the commission, how good is the agent and how experienced in representing the buyer's best interests?  Many of these agents are what we call 'newbies' or someone retired who just wants to pick up some extra cash.  What I am trying to say is, "They may not be trained properly or have the needed experience to be of help to you.  As far as the inspection, it seems that nothing is ever free.  We do pay one way or another!  The stories I can tell you.

4)   Find an agent who will ask me one question: "How much can you afford?"  Then the agent will 'taxi' me around and show me 20-50 houses, 90% of which do not meet my specific needs.  This puts all the pressure on you and this type of agent is the one you are most likely to come in contact with, or have already come in contact with!  They have no fiduciary duty to you, nor do you have any loyalty to them.

5)   Find a house and use the Listing Agent, and perhaps save on the price by reducing it  by the selling agent's commission.  Of course, the seller also wants those $$$ to be HIS savings!  This is truly the most dangerous, even if it can be legal.  This is pretty much like 'going it alone.'  The listing agent works for the SELLER!  There is a "dual agency" in which the agent can represent both you and the seller, but that does not mean that you save money... and, the agent won't do this if the agent is intelligent!  Now, the agent cannot do a good job for either of you as it is difficult to represent both of your interests at the same time when your interests conflict.  How is the agent going to negotiate offers?  The agent can't... that is the part where neither the buyer or the seller can be represented!

6)   Do a compromise, and pick from a menu which services you want to pay for, and then get a rebate for the rest of the commission.  Which services do you know you won't need?

7)   Find a Realtor® who will help you decide what you really need and/or want in a home, help me know the price I can really afford, make sure that I get a "good" mortgage that is right for me, help make sure that the house is also a good investment and in a good neighborhood, and can negotiate for me a good price. 

If it seems like #7 is best for you, you have made a wise decision!  If you decided on any of the others, you need to learn more!  Read on...

You need to know honestly what works, where and how to spend your hard-earned $$$.  Somtimes, I have seen where an agent is not 'worth their salt,' and I have also seen where knowledge, experience and expertise is priceless!  You need to know when you get the best value in an agent and, at the same time, save money!

"Just always remember that I will be there every step of the way to guide you, to consult with you, to make everything legal and protect your interests to the best of my abilities!  I am available whenever you need to just talk... even at midnight!  (Are you sure you want to talk to ME at midnight?)  I will make you feel as secure as I can in the zillion decisions that you have to make in the home buying process!"