eAtlantaHomes
 
Get with a Realtor if you're buying or selling.
By John Adams
For the AJC
11:19 p.m. Thursday, July 16, 2009
I recently visited with a group of prospective homebuyers, listening to their concerns and trying to answer some of their questions. One was asked more than any other:
In this market, many sellers have given up on agents and are trying to sell without an agent. Their signs often read "For Sale By Owner" or FSBO. Isn't it wise to approach these sellers directly and try to save the commission dollars in a lowered offering price?
In my opinion, that's not a smart route. I am not a Realtor, and I have no ax to grind in this matter. But this is my observation: In most cases, agents today more than earn their commission, whatever that amount is.
In this challenging market, one of the most important elements of homebuying success is to have an experienced agent assist you in the task of shopping and comparing among the many homes that may be right for you.
Everyone knows that today we have lots of supply and little demand - that's the definition of a buyer's market. All the more reason to equip yourself with an experienced professional to prevent you from making mistakes.
In addition, agents have direct access to previous neighborhood listing activity as well as county tax records. This data is critical in helping a buyer compare one house to another and learning about conditions of past sales. With so many foreclosures being resold today, you have to be able to discern the real sales from the forced ones.
Finally, real estate agents are trained to make sure that written agreements are valid and enforceable. In other words, he or she will work to ensure your purchase is shepherded to a successful conclusion.
Is it possible to buy a house on your own directly from an owner? Of course it is, but my advice is to take advantage of professional assistance.
Most sellers, even FSBO sellers, will entertain the idea of paying a reasonable commission to your agent for services rendered. And what good is a contract between buyer and seller if it fails to close?
My experience has been that sales guided by experienced real estate professionals have a much higher chance of getting to closing, especially in today's difficult mortgage market.?
John Adams is a broker and investor. He answers real estate questions on radio station WGKA (920 am) every Saturday at noon. For more real estate information or to make a comment, visit John Adams on the Web. |
