Quote:
Originally Posted by nota
Realtor's work for the sellors
why would any buyer want to pay 6% extra for a house
esp as the Realtor will not do much for you
the deals are from FSBO sellors or the damm banks
in this crazy market I would deal directly with a bank
offer to buy only if they finance a property they own
that should be a win win for the bank
as they get rid of the house
and get money coming in at the same time
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1. Realtors represent both parties, and some do so for each side exclusively (either buyer's agents or listing/selling agents).
2. Buyers do not pay the Realtor's commission. It comes out of the seller's proceeds. So, why would you want to go into a transaction representing yourself (fool for a client) when buyer representation is essentially free? That is a no-brainer to me.
3. FSBO's can be a nightmare, even if just one of the parties doesn't know what they're doing. If an FSBO seller doesn't allow agent-represented buyers, then both parties generally don't have a clue about the process. That is a huge invitation for problems and/or lawsuits. Real estate as an industry is one of the most litigious out there. Most FSBO's never sell without at least one agent in the mix anyhow (like around 80+%).
4. Nearly all Bank-owned (REO) properties are listed with agents. Banks wouldn't sell any properties if they weren't advertised and marketed properly. In most cases, you can't just "deal directly" with a bank to make an offer on a property. Banks are not in the real estate business. They are in the lending and loan-servicing business. They utilize agents to list their inventory, just as traditional sellers do.