I will hire a realtor. One of my leading indicators for a market turning is a realtor’s input, so I need to stay in touch with a realtor to know how the market is doing. I would NEVER use a person; i.e. pump them for information and then jump ship and buy from a cheaper competitor or without them. I would use a discount realtor.
SD Realtor, I can think of a long list of things that can go wrong if you don’t know what you’re doing, mostly having to do with the disclosures and repairs, that can end up costing you more than the realtor ever will. The repair list made by the inspector is a source of emotion, where deals can fall apart, because the seller is so hurt to see all the things wrong with his house, and can get real stubborn in refusing to fix them. The buyer is just as determined to not buy a house with problems and wants them all fixed. The realtors are the calm intermediaries, sorting out what needs to be repaired, vs. what is just cosmetic.
My realtors have worked every day on making calls to loan officers, termite guy, inspector, escrow officer, title company, and various others, to keep the escrow process moving.
When I sold my house, the buyers’ agent worked real hard for them. She was a ferocious beast, making sure every little repair was made, and she even got us to reduce our price by 5% by lying (I found out later) that the buyers had 2 other houses on which they would make offers, if I countered. When I asked my buyers about this later, they said, “Oh, we didn’t know we were interested in two other houses”. These people were first time buyers, and I could tell they appreciated having her there, to show them the ropes. Because so many problems and questions come up, and you want to know if your rights are violated, and without a realtor, who can you ask?
A realtor gives you the comps on the house you want to buy, letting you know if it’s a good deal or not. They know when a house is undervalued or overvalued. You can’t get that off ZipRealty. They negotiate on price, repairs, etc. They give you confidence that you are not being used by the seller.
If the seller has a realtor and you don’t, do you fell like you’re on equal footing? The seller has a pro representing them, but you don’t. Say your get your inspection done, and you have to make your list of inspection requests. Which one should you make that are considered common for our area? Say you ask for a roof repair. The sellers’ agent says “This is not something that is typically done in San Diego. Buyers have to do this on their own if they don’t like the roof. We will patch the leak only.” Will you go along with that answer? Does it seem fair? This is only 1 of 100 things that can happen.
When my realtor wrote our contract, she checked off so many boxes, based on what is typically done in this market. She entered “17” for “17 days to complete contingencies”, and various other numbers. How would you know how to do this without a realtor?
I would cast aside 95% of the agents I’ve met. I don’t want a used car salesman type of guy. One of those guys who is telling me the economy is strong now; I don’t want an ignorant fool like that.
I would hire the likes of Adam Rappoport (SD Realtor), Bob Casagrand, or Jim Klinge (bubbleinfo.squarespace.com). All three of these are professional men who speak the truth.
I’d say someone can do this on their own, as long as they know all the steps involved, their rights, and are very skilled at negotiating.
I used to say I would buy without a realtor, but in the last few months, I’ve changed my mind. I see their value.
But for those braver and more independent than I, what would be your source of info to know how to write contracts and negotiate? Don’t let me scare you, it certainly can be done on your own. But I really wonder if your representation is as good if you do it alone.
