How to Buy w/out a Realtor?

[UCGal]

As mentioned previously – I purchased without an agent… but it was a family sale. My goal was not to get “the best deal” since that would have meant ripping off my father. My goal was to get a fair market price. My father and I both did research to determine the price. We both looked at various online listing services. We knew what homes in the area had sold at. We both reached, independently, the exact same valuation. Additionally, my dad had gotten some suggested listing prices from the agent that sold him the townhouse he downsized to. (She was hoping for the listing and offered it for him when she was working with him on that transaction.) Her figure was about 30k higher than we paid – but we all know asking price is not the same as sold price. And my dad would have had to pay commission.

We did NOT need an agent to get the deal closed. We hired a title/escrow service to handle the transaction. I used a mortgage broker recommended by my sister.

Dan/UR – if you really want to check this to see if a realtor would have added value – I can pm you the address. But in my case, I honestly don’t believe it would have made sense for realtors to be involved.

[SD Realtor]

Seems like threads like this recur every year or so. I have stayed out of this one because it is no use arguing. Some people do find value in having representation and some do not. Obviously individual levels of real estate knowledge vary with each buyer.

One thing that those who argue against the usefulness of a buyers agent do not understand is the simple numbers game with the experiences. Each of you may have bought a home or two without an agent. However the simple number of transactions a good agent is involved in tend to give that agent more experience overall in the process. Could that experience have helped you? Maybe and maybe not? I have recently been involved in a renovation and everything I watched the contractors do, I know I could have done. However it would have taken me awhile longer and I would have screwed up something in the process and had to redo it. I tried that with the sprinkler system, I did it, I screwed some stuff out, tore it out and fixed it and now it works. What took me about 4 days would have taken and expert with a crew 1 day. It is done though. Again, I think agency is devalued because the skill level of many agents is subpar at best.

We all know real estate is not brain surgery. That is not the argument here. Also as many of you hope for a change in the establishment of how real estate transactions occur, I don’t really see that happening. Maybe it will, but to much money to be lost by the rich guys.

From my perspective of reading the threads it seems like those who have had success without an agent feel that calling for an end to agency is correct for EVERYONE and I don’t see it that way. I think the real problem is that most agents are indeed boobs. As an electrical engineer agency is like childs play from an intelligence standpoint however the skills needed to be a good agent are vastly underated. They are two-fold and involve people skills and experience. I will say for sure sure sure that you experience level including the number or transactions and the number of agents you work with will help. I know of at least 3 transactions where I got my buyers offers accepted because I had worked with the listing agents before AND I was able to advise my clients on what they needed to do to get over the top in the multiple counters they were in. The same is true for identifying which agents suck,

To me, that does add value but to many of you it does not and that is okay by me. I am not going to say your purchases will or will not work out because THAT IS IMPOSSIBLE to prognosticate and I tend to try to follow logic.

So I guess my answer is that it is all in the eye of the beholder, and every case varies. As far as the 6% stuff goes that is all crap. Any poster who whines about that has not done any homework at all. There are plenty of options out there for both buyers and sellers to save on commissions and there have been these options for quite a long time. Conversely, as many hoped these would become mainstream vehicles for the market, they have not and I doubt they will. However SOME OF THEM are great opportunities for people to save money and still get top notch service.

[SD Realtor]

Seems like threads like this recur every year or so. I have stayed out of this one because it is no use arguing. Some people do find value in having representation and some do not. Obviously individual levels of real estate knowledge vary with each buyer.

One thing that those who argue against the usefulness of a buyers agent do not understand is the simple numbers game with the experiences. Each of you may have bought a home or two without an agent. However the simple number of transactions a good agent is involved in tend to give that agent more experience overall in the process. Could that experience have helped you? Maybe and maybe not? I have recently been involved in a renovation and everything I watched the contractors do, I know I could have done. However it would have taken me awhile longer and I would have screwed up something in the process and had to redo it. I tried that with the sprinkler system, I did it, I screwed some stuff out, tore it out and fixed it and now it works. What took me about 4 days would have taken and expert with a crew 1 day. It is done though. Again, I think agency is devalued because the skill level of many agents is subpar at best.

We all know real estate is not brain surgery. That is not the argument here. Also as many of you hope for a change in the establishment of how real estate transactions occur, I don’t really see that happening. Maybe it will, but to much money to be lost by the rich guys.

From my perspective of reading the threads it seems like those who have had success without an agent feel that calling for an end to agency is correct for EVERYONE and I don’t see it that way. I think the real problem is that most agents are indeed boobs. As an electrical engineer agency is like childs play from an intelligence standpoint however the skills needed to be a good agent are vastly underated. They are two-fold and involve people skills and experience. I will say for sure sure sure that you experience level including the number or transactions and the number of agents you work with will help. I know of at least 3 transactions where I got my buyers offers accepted because I had worked with the listing agents before AND I was able to advise my clients on what they needed to do to get over the top in the multiple counters they were in. The same is true for identifying which agents suck,

To me, that does add value but to many of you it does not and that is okay by me. I am not going to say your purchases will or will not work out because THAT IS IMPOSSIBLE to prognosticate and I tend to try to follow logic.

So I guess my answer is that it is all in the eye of the beholder, and every case varies. As far as the 6% stuff goes that is all crap. Any poster who whines about that has not done any homework at all. There are plenty of options out there for both buyers and sellers to save on commissions and there have been these options for quite a long time. Conversely, as many hoped these would become mainstream vehicles for the market, they have not and I doubt they will. However SOME OF THEM are great opportunities for people to save money and still get top notch service.

[SD Realtor]

Seems like threads like this recur every year or so. I have stayed out of this one because it is no use arguing. Some people do find value in having representation and some do not. Obviously individual levels of real estate knowledge vary with each buyer.

One thing that those who argue against the usefulness of a buyers agent do not understand is the simple numbers game with the experiences. Each of you may have bought a home or two without an agent. However the simple number of transactions a good agent is involved in tend to give that agent more experience overall in the process. Could that experience have helped you? Maybe and maybe not? I have recently been involved in a renovation and everything I watched the contractors do, I know I could have done. However it would have taken me awhile longer and I would have screwed up something in the process and had to redo it. I tried that with the sprinkler system, I did it, I screwed some stuff out, tore it out and fixed it and now it works. What took me about 4 days would have taken and expert with a crew 1 day. It is done though. Again, I think agency is devalued because the skill level of many agents is subpar at best.

We all know real estate is not brain surgery. That is not the argument here. Also as many of you hope for a change in the establishment of how real estate transactions occur, I don’t really see that happening. Maybe it will, but to much money to be lost by the rich guys.

From my perspective of reading the threads it seems like those who have had success without an agent feel that calling for an end to agency is correct for EVERYONE and I don’t see it that way. I think the real problem is that most agents are indeed boobs. As an electrical engineer agency is like childs play from an intelligence standpoint however the skills needed to be a good agent are vastly underated. They are two-fold and involve people skills and experience. I will say for sure sure sure that you experience level including the number or transactions and the number of agents you work with will help. I know of at least 3 transactions where I got my buyers offers accepted because I had worked with the listing agents before AND I was able to advise my clients on what they needed to do to get over the top in the multiple counters they were in. The same is true for identifying which agents suck,

To me, that does add value but to many of you it does not and that is okay by me. I am not going to say your purchases will or will not work out because THAT IS IMPOSSIBLE to prognosticate and I tend to try to follow logic.

So I guess my answer is that it is all in the eye of the beholder, and every case varies. As far as the 6% stuff goes that is all crap. Any poster who whines about that has not done any homework at all. There are plenty of options out there for both buyers and sellers to save on commissions and there have been these options for quite a long time. Conversely, as many hoped these would become mainstream vehicles for the market, they have not and I doubt they will. However SOME OF THEM are great opportunities for people to save money and still get top notch service.

[SD Realtor]

Seems like threads like this recur every year or so. I have stayed out of this one because it is no use arguing. Some people do find value in having representation and some do not. Obviously individual levels of real estate knowledge vary with each buyer.

One thing that those who argue against the usefulness of a buyers agent do not understand is the simple numbers game with the experiences. Each of you may have bought a home or two without an agent. However the simple number of transactions a good agent is involved in tend to give that agent more experience overall in the process. Could that experience have helped you? Maybe and maybe not? I have recently been involved in a renovation and everything I watched the contractors do, I know I could have done. However it would have taken me awhile longer and I would have screwed up something in the process and had to redo it. I tried that with the sprinkler system, I did it, I screwed some stuff out, tore it out and fixed it and now it works. What took me about 4 days would have taken and expert with a crew 1 day. It is done though. Again, I think agency is devalued because the skill level of many agents is subpar at best.

We all know real estate is not brain surgery. That is not the argument here. Also as many of you hope for a change in the establishment of how real estate transactions occur, I don’t really see that happening. Maybe it will, but to much money to be lost by the rich guys.

From my perspective of reading the threads it seems like those who have had success without an agent feel that calling for an end to agency is correct for EVERYONE and I don’t see it that way. I think the real problem is that most agents are indeed boobs. As an electrical engineer agency is like childs play from an intelligence standpoint however the skills needed to be a good agent are vastly underated. They are two-fold and involve people skills and experience. I will say for sure sure sure that you experience level including the number or transactions and the number of agents you work with will help. I know of at least 3 transactions where I got my buyers offers accepted because I had worked with the listing agents before AND I was able to advise my clients on what they needed to do to get over the top in the multiple counters they were in. The same is true for identifying which agents suck,

To me, that does add value but to many of you it does not and that is okay by me. I am not going to say your purchases will or will not work out because THAT IS IMPOSSIBLE to prognosticate and I tend to try to follow logic.

So I guess my answer is that it is all in the eye of the beholder, and every case varies. As far as the 6% stuff goes that is all crap. Any poster who whines about that has not done any homework at all. There are plenty of options out there for both buyers and sellers to save on commissions and there have been these options for quite a long time. Conversely, as many hoped these would become mainstream vehicles for the market, they have not and I doubt they will. However SOME OF THEM are great opportunities for people to save money and still get top notch service.

[SD Realtor]

Seems like threads like this recur every year or so. I have stayed out of this one because it is no use arguing. Some people do find value in having representation and some do not. Obviously individual levels of real estate knowledge vary with each buyer.

One thing that those who argue against the usefulness of a buyers agent do not understand is the simple numbers game with the experiences. Each of you may have bought a home or two without an agent. However the simple number of transactions a good agent is involved in tend to give that agent more experience overall in the process. Could that experience have helped you? Maybe and maybe not? I have recently been involved in a renovation and everything I watched the contractors do, I know I could have done. However it would have taken me awhile longer and I would have screwed up something in the process and had to redo it. I tried that with the sprinkler system, I did it, I screwed some stuff out, tore it out and fixed it and now it works. What took me about 4 days would have taken and expert with a crew 1 day. It is done though. Again, I think agency is devalued because the skill level of many agents is subpar at best.

We all know real estate is not brain surgery. That is not the argument here. Also as many of you hope for a change in the establishment of how real estate transactions occur, I don’t really see that happening. Maybe it will, but to much money to be lost by the rich guys.

From my perspective of reading the threads it seems like those who have had success without an agent feel that calling for an end to agency is correct for EVERYONE and I don’t see it that way. I think the real problem is that most agents are indeed boobs. As an electrical engineer agency is like childs play from an intelligence standpoint however the skills needed to be a good agent are vastly underated. They are two-fold and involve people skills and experience. I will say for sure sure sure that you experience level including the number or transactions and the number of agents you work with will help. I know of at least 3 transactions where I got my buyers offers accepted because I had worked with the listing agents before AND I was able to advise my clients on what they needed to do to get over the top in the multiple counters they were in. The same is true for identifying which agents suck,

To me, that does add value but to many of you it does not and that is okay by me. I am not going to say your purchases will or will not work out because THAT IS IMPOSSIBLE to prognosticate and I tend to try to follow logic.

So I guess my answer is that it is all in the eye of the beholder, and every case varies. As far as the 6% stuff goes that is all crap. Any poster who whines about that has not done any homework at all. There are plenty of options out there for both buyers and sellers to save on commissions and there have been these options for quite a long time. Conversely, as many hoped these would become mainstream vehicles for the market, they have not and I doubt they will. However SOME OF THEM are great opportunities for people to save money and still get top notch service.

[sdrealtor]

Good post SDR and let me add one thing. I hope those of you dont take this personally as I dont nor do I think the other agents on this board do. We often resort to hyperbole because we feel we have to present a counter to an extremist opinion. There are plenty of options out there to do exactly what you are asking for but they arent m,ainstream because the market cant support them as the norm. Beating the market in RE purchases comes from being opportunistic. No one idea works all the time and having a full bag of tricks can and often does make all the difference in the world. Lastly, the agents you are debating with on this site are the good guys who work out there with honesty, intellect, sincerity, professionalism and solid ethics. We see the train wrecks you mock everyday and have to navigate through them on a daily basis. However we know they arent going away completely nor is the system you would love to see scrapped.

best of luck to all of you

sdr

[sdrealtor]

Good post SDR and let me add one thing. I hope those of you dont take this personally as I dont nor do I think the other agents on this board do. We often resort to hyperbole because we feel we have to present a counter to an extremist opinion. There are plenty of options out there to do exactly what you are asking for but they arent m,ainstream because the market cant support them as the norm. Beating the market in RE purchases comes from being opportunistic. No one idea works all the time and having a full bag of tricks can and often does make all the difference in the world. Lastly, the agents you are debating with on this site are the good guys who work out there with honesty, intellect, sincerity, professionalism and solid ethics. We see the train wrecks you mock everyday and have to navigate through them on a daily basis. However we know they arent going away completely nor is the system you would love to see scrapped.

best of luck to all of you

sdr

[sdrealtor]

Good post SDR and let me add one thing. I hope those of you dont take this personally as I dont nor do I think the other agents on this board do. We often resort to hyperbole because we feel we have to present a counter to an extremist opinion. There are plenty of options out there to do exactly what you are asking for but they arent m,ainstream because the market cant support them as the norm. Beating the market in RE purchases comes from being opportunistic. No one idea works all the time and having a full bag of tricks can and often does make all the difference in the world. Lastly, the agents you are debating with on this site are the good guys who work out there with honesty, intellect, sincerity, professionalism and solid ethics. We see the train wrecks you mock everyday and have to navigate through them on a daily basis. However we know they arent going away completely nor is the system you would love to see scrapped.

best of luck to all of you

sdr

[sdrealtor]

Good post SDR and let me add one thing. I hope those of you dont take this personally as I dont nor do I think the other agents on this board do. We often resort to hyperbole because we feel we have to present a counter to an extremist opinion. There are plenty of options out there to do exactly what you are asking for but they arent m,ainstream because the market cant support them as the norm. Beating the market in RE purchases comes from being opportunistic. No one idea works all the time and having a full bag of tricks can and often does make all the difference in the world. Lastly, the agents you are debating with on this site are the good guys who work out there with honesty, intellect, sincerity, professionalism and solid ethics. We see the train wrecks you mock everyday and have to navigate through them on a daily basis. However we know they arent going away completely nor is the system you would love to see scrapped.

best of luck to all of you

sdr

[sdrealtor]

Good post SDR and let me add one thing. I hope those of you dont take this personally as I dont nor do I think the other agents on this board do. We often resort to hyperbole because we feel we have to present a counter to an extremist opinion. There are plenty of options out there to do exactly what you are asking for but they arent m,ainstream because the market cant support them as the norm. Beating the market in RE purchases comes from being opportunistic. No one idea works all the time and having a full bag of tricks can and often does make all the difference in the world. Lastly, the agents you are debating with on this site are the good guys who work out there with honesty, intellect, sincerity, professionalism and solid ethics. We see the train wrecks you mock everyday and have to navigate through them on a daily basis. However we know they arent going away completely nor is the system you would love to see scrapped.

best of luck to all of you

sdr

[matt-waiting]

Geez – what started out as a simple question (Can a buyer’s agent justify their value?) turned into WW3.

I wonder why such a simple question made urbanrealtor, normally a thoughtful poster, turn into a raging lunatic?

My impression is that asking for a rebate from a good buyer’s agent may be the best way to go, although the good Dr. has shown that a) a buyer’s agent provides little value for a buyer with half a brain and b) RE agents will result to petty insults to protect a faulty system (except SD Realtor – Who seems to have formed a reasonable opinion on his own.)

SDR – interested in agreeing to a 1% rebate?

[matt-waiting]

Geez – what started out as a simple question (Can a buyer’s agent justify their value?) turned into WW3.

I wonder why such a simple question made urbanrealtor, normally a thoughtful poster, turn into a raging lunatic?

My impression is that asking for a rebate from a good buyer’s agent may be the best way to go, although the good Dr. has shown that a) a buyer’s agent provides little value for a buyer with half a brain and b) RE agents will result to petty insults to protect a faulty system (except SD Realtor – Who seems to have formed a reasonable opinion on his own.)

SDR – interested in agreeing to a 1% rebate?

[matt-waiting]

Geez – what started out as a simple question (Can a buyer’s agent justify their value?) turned into WW3.

I wonder why such a simple question made urbanrealtor, normally a thoughtful poster, turn into a raging lunatic?

My impression is that asking for a rebate from a good buyer’s agent may be the best way to go, although the good Dr. has shown that a) a buyer’s agent provides little value for a buyer with half a brain and b) RE agents will result to petty insults to protect a faulty system (except SD Realtor – Who seems to have formed a reasonable opinion on his own.)

SDR – interested in agreeing to a 1% rebate?

[matt-waiting]

Geez – what started out as a simple question (Can a buyer’s agent justify their value?) turned into WW3.

I wonder why such a simple question made urbanrealtor, normally a thoughtful poster, turn into a raging lunatic?

My impression is that asking for a rebate from a good buyer’s agent may be the best way to go, although the good Dr. has shown that a) a buyer’s agent provides little value for a buyer with half a brain and b) RE agents will result to petty insults to protect a faulty system (except SD Realtor – Who seems to have formed a reasonable opinion on his own.)

SDR – interested in agreeing to a 1% rebate?

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