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Buying a house without a Realtor is easy. There’s no requirement for the buyer to have a Realtor; however, most sellers will have a listing agent representing them. Many MLS broker databases allow members of the public to search for listings directly on their websites, or you could search on your own on any number of popular, public property search websites.

Is Buying a House Without a Realtor Wise?

No. Buying a house without a Realtor may be easy, but it is the opposite of wise. You’re not saving any money by not having a buyer’s agent, and you miss out on the opportunity for free guidance from a real estate professional who only represents you.

Many first time home buyers will dismiss the idea of having a buyer’s agent because they feel like they don’t need any help. After all, they can easily find virtually any listing online, so why do they need an agent to represent them? Wouldn’t this agent just be another middleman that gets in the way?

This couldn’t be further from the truth. A great buyer’s agent will scour the web and the MLS for both private and public listings that specifically meet your needs. You might get access to pocket listings that are only seen by brokers. Most importantly, your buyer’s agent will guide you through the home buyer process, from submitting an offer to closing. A buyer’s agent will also be a great resource for you should you need any referrals to other real estate professionals such as lawyers, home inspectors, contractors, designers etc.

Most importantly, having a buyer’s agent doesn’t cost you a dime. The seller typically agrees to pay a fixed commission rate, say 6% on average, regardless of whether the buyer has an agent or not. If the buyer chooses to waive their right to free, buy side representation, then the listing agent simply collects both sides of the commission.

However, most buyers are smart enough to realize that it’s use it or lose it when it comes to having a free buyer’s agent. As a result, 90% of deals are done today between a seller’s agent and a buyer’s agent. When the buyer has an agent, the commission is automatically split, typically equally per MLS association rules, between the buyer’s agent and the seller’s agent.

The key takeaway from this section is that even though learning how to buy a house without a Realtor may be easy, it may not be wise. Don’t think that you’re being clever by avoiding a buyer’s agent. There’s a reason why the vast majority of buyers end up having their own representation. After all, who would turn down the opportunity for a free real estate concierge?

Steps to Buying a House Without a Realtor

1. Set up search alerts for yourself online
2. Attend open houses and private showings
3. Submit an Offer
4. Negotiate an Accepted Offer
5. Sign a Contract
6. Get a Loan Commitment Letter
7. Schedule and Attend the Closing

Benefits of Buying Property Without a Realtor

One of the main benefits of buying property without a Realtor is that you may be able to get a quicker response from listing agents who are excited by the prospect of earning double commission. However, many savvy buyers use this to their advantage by seeing a property first directly with the listing agent, and only then looping in their buyer’s agent if they have any interest in making an offer.

Be warned however, you may lose much more than time if your buyer’s agent is incompetent. If so, it’s much worse to have an agent than to not have one, especially if your buyer’s agent is unresponsive or too busy for your deal.

Having an unresponsive agent on the buy side is one of the worst things, as it can cause delays in scheduling and even offer negotiation, if you manage to get that far.

Fortunately, this latter problem can be easily avoided given the abundance of qualified real estate agents out there. For example, there are 50,000 licensed real estate agents in the NYC metro area alone. All you have to do is to find a real estate agent that’s trustworthy, competent, knowledgeable and responsive.

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