WHY HOME BUYERS NEED A REALTOR®
The reasons for using a REALTOR® today have not changed from what they were in the past. The ease of online transactions and proliferation of services to assist buyers in handling their own real estate transactions came about recently, throughout the last decade. This has caused buyers to wonder if using a REALTOR® is no longer necessary or if it is an expense that can be avoided. While doing the work yourself could save you money when purchasing a “For Sale By Owner” (FSBO) or a do- it-yourself home. A "For Sale By Owner" type purchase could potentially be a slippery slope as you might pay more than what the home is worth or pay more than a REALTORS® commission. Besides, a buyer generally does not directly pay any commission to the buyer's agent on a home purchase. However, in the event a buyer is potentially liable for a REALTORS® commission, it should be clarified prior to the submission of an offer. Full disclosure is essential and vital in this type of situation to ensure all parties understand who is responsible for the commission of the buyer's agent. In most cases, the seller pays the full commission for the services of both the listing agent and buyer's agent (assuming the buyer has one). On most home sales, there is a listing agent (seller's representative) and a selling agent (buyer's representative). The selling agent is sometimes called the “buyer’s agent” because he or she is working on behalf of the buyer, and it is easier than explaining that the selling agent is not the listing agent but really the buyer’s agent. There are some REALTORS® that market themselves as “buyer’s agents,” “exclusive buyer’s agents,” or “buyer’s representatives.” These real estate agents have chosen to make a business of finding homes for prospective buyers and handling the negotiations and transactions attendant to the purchase. These agents want to accentuate the reasons a buyer should not go directly to the
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