Do I need a buyer's agent if I've already found a house?

Question

I was “looking around” at houses for fun and found a perfect house(as a primary residence) that fits my budget. I am planning to place an offer. Do you recommend I get a buyer’s agent at this stage? Or can I pass the cost savings (by not getting an agent) towards my closing cost?

I do not have much experience in real estate.

Dustin Allen · Answer

@Addy Cash

If you don’t have much experience in real estate, I would highly recommend getting a separate buyers agent to represent you. At this point, you don’t know what you don’t know. It’s good to have someone dedicated to protecting your interests and it won’t cost any more than if you were to go it alone.

Michael Noto · Answer

@Russell Brazil Nailed this one so I won't add much to what he said. Also, keep in mind if you are new to the home buying process it does not hurt having someone to help you navigate the process.

Peter Anderson · Answer

@Addy Cash I bought my first house unrepresented and did fine but probably left something on the table. You just don’t know what you don’t know… and it’s usually contextual/nuanced. Finding the deal isn’t always the hard part.

Michael Helfant · Answer

Most of us in this thread are agents who are incentivized to have clients use agents. That being said, on the buy side, you don't even pay the commission of the buyer agent, and you truly will get someone who negotiates as a fiduciary in YOUR best interest only.

If you reach out directly and use the listing agent as your agent, like everyone else said, they are going to get both sides of the commission rather than just discount to the buyer. While they will sign a contract wherein it states they are supposed to represent you in their best interest, too, for some sometimes there is innate pressure/motive to just get the deal through to close.

Peter Mckernan · Answer

@Addy Cash I would say if you have no experience at all grab an agent to rep you and the levels of experience that you and the deal will dictate if you need an agent or not. These are the factors, and I would suggest you get an agent to make sure you do not forget anything, or if you mess something up they'll guide you through the challenge.

It is always well worth the price of working with an agent on either side if you are buying or selling (I am bias in this argument as I am a current licensed agent).

Steve Vaughan · Answer

I bought solo from 2002 until last year. To get on the viewing schedule on my last I had to have an agent so I retained one of my tenants. May as well leep it in house.

If you don't have buying experience, a good agent will help you.

Once you have the experience, closing costs and other credits are more negotiable buying solo. Mine averaged 2% of PP until last year. The typical buyer agent commission is 2.5% in my area.

Don McQueen · Answer

Always worth it to have someone in your corner for a second set of eyes. Also, this is a perfect chance to start growing your team if investing is in your future.

Theresa Harris · Answer

Get a realtor especially if you don't have a lot of experience. Without your own agent, the seller's agent usually double ends the deal and gets all the commission so you won't save any money.

Do I need a buyer's agent if I've already found a house?

Do I need a buyer's agent if I've already found a house?

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