I can almost understand Sellers who take on trying to sell there own home home. They think they are saving the commission right? Even though only about 20% actually succeed and those who do statistically sell there home for 15% less than a professional Realtor can get them, I can at least understand the thought process.
What really puzzles me is why do so many buyers take on the process of searching for there own home by themselves? Here in the state of Washington the seller pays a commission to the listing brokerage who in turn offers through the Multiple listing service a portion to buyers brokerage who brings th Buyer to the table.
Very rarely does the buyer pay any of the Realtors commission. I notice many buyers go through a long process spending hours on line searching Zillow , Craig's List and the many other real estate ad sites. They often go out and do drive buys on homes they think they might like ,even though they can't go in to see them only than to call a Realtor and hear oh I am sorry a offer was just accepted on that home yesterday. Buyers seem to go through this routine for weeks some times months before finding a home they like that they can actually make a offer on and buy.
The lucky agent who happens to be the one who shows that home is happy to write the deal up and help the buyer though the process.
The truth is a good Realtor can save a buyer so much time and grief. We know the market, we are in it every day. Even when I am not working with clients I make it a point to preview at least 10 new listings a week.
As a professional Real Estate Agent I can suggest a much better way. Meet with a Realtor and interview them. In what I call a proper Buyers First Interview the Agent should fully explain the buying process. Talk about the purchase and sale contract and possible addendum's you will be asked to sign, and give you sample copies to take with you. A good agent will explain Lead base paint addendum required on homes built prior to 1978. He/She should talk about home warranty options. Also a copy of the law of agency should be gone over and explained. The agent could also have a recommendations and info on lenders if needed.
Most importantly the Agent should get to know the customer and what there ideal home is. Price, Location, home size, lot size, garage or parking issues. The way a good agent finds this information out is by asking questions about customers. Where they work, hobbies, is entertaining important, family size ect. At this time if the Agent and Customer believe they want to work together than a mutual commitment should be made. This can be done with a buyers agency agreement. Once this agreement is signed the customer becomes the agent's client and is entitled by the law of agency additional duties and obligations from agent.
After the agent has a clear picture of clients needs and wants he/she has access at there finger tips to sort through every listing in the area. Using clients criteria agent can filter dozens of potential homes and narrow it down to maybe 10 or 12 than he/she can go preview these home's for client narrowing it down further to 4 or 5. So when Agent takes client out to view homes they are seeing the very best homes suited to them out of hundreds in the area.
The other advantage to a buyer having a professional agent in there corner at no or little cost to them is if the home they want is not on the market yet we will see it first. Before it is advertised on or Craigs List or Zillow.
So in conclusion since buyers rarely pay much if any of the Realtors commission why not take advantage of the full service they can provide?
Feel Free to Call Me Today For More Information On This Or any Other Property You May Be Interested In. I would Be Pleased To Be YOUR Buyer Representative
Century 21 North Homes Inc.
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