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Updated almost 5 years ago on . Most recent reply

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Anna W.
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11
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Buying expensive home without a realtor?

Anna W.
Posted

We are in Hawaii and have done several transactions buying/selling WITH realtors. I am familiar with the Oahu market having grown up here and checking new listing and research daily for several years now. I am far from knowing all there is to know, but can't help but feel like being a buyer here with a healthy budget is just an invitation to be signed up with realtors' MLS without them having to do much of anything until we find a property that makes sense after dozens of drivebys, rental market research, etc. I crunch numbers with rental income, location, comps, etc. for every deal and potential deal. In a previous sale (maybe luck?), I set a price for our duplex 5% higher than several realtors advised (I used comps and market trends in the area, not Hawaii), and had several over asking price offers in 2 days time and closed in 30 days, apparently appraised for the person's VA loan without any hiccups. We are on realtor #2 for the sale of our condo who is really great, but condo is still on the market. Of course this realtor wants to be our buyer's agent for our next primary home (looking for ADU/multifamily), too. Either my standards are way too high, or I am actually fairly hesitant about letting any realtor off the street walk into a deal where I found the property to put an offer on and they get 50k out of the deal. I am definitely NOT putting down any realtor or services they give, ESPECIALLY when a deal goes sour, just kind of exploring options.


Would anyone advise that in this situation getting a real estate attorney could work rather than getting a realtor?

Maybe go with a flat rate type buyer's agent? 

Does coming to the table and making an offer without a realtor give us any leverage in terms of sale price? 

Maybe i'm biting off more than I can chew and just haven't found the right realtor?

Thanks!

Most Popular Reply

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17,478
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,165
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17,478
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Id focus on trying to find the right agent, and not just any agent. 90% of all home sales pool within the top 1% of agents.  And not every one in that top 1% is good by any means.

One problem, and this goes for any profession built around knowledge skill, is the good ones, whether agents, lawyers, CPA's etc, make it look like what they are doing is extremely easy and anyone can do it.  Then you show up to court to represent yourself and end up in jail. 

A top notch agent as well....they may (or may not depending on circumstances) find you properties that are not on the MLS. Id estimate that somwhere around a third of my transactions are properties that never go on the MLS.

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