Buyers Agent or Go It Alone? (Lehi, Highland: flat fee, for sale by owner, real estate)

[aussie_american]

Well we finally have our transfer date to Utah, so now my mind is wandering to the prospect of finding a house for our family. We are mostly interested in the Lehi, Highland, Alpine, Cedar Hills and Suncrest areas because these will be closest to my husband's job. I have spent some time in the last 2 months looking at houses on the MLS, Craigslist and For Sale by Owner websites and have a list of a few properties that fit our tastes and budget, however I am not sure of the best way to go about visting these places or finding other places that might suit our needs. I am interested in people's opinions/experiences when buying a house in the area, particularly with regards to whether they used a "Buyers agent" to help them find a home, or if they went it alone by contacting the Owner or Selling Agent of any properties they were interested in.

[chazcrew]

We always use a buyer's agent, just because it makes the negotiations and paperwork easier (i.e., they do it for you!), but if you approach someone who is using a listing agent, and tell them you want to buy without a buyer's agent, they might decrease their asking price by a few thousand dollars, or the equivalent of what the agent would cost them (the seller pays the fees for both the buyer's and seller's agents).

Many of the people who are selling by owner won't accept a buyer's agent at all, because it costs them money. That's why they're selling by owner. So in that case, no agent. If you do decide you want an agent, but you're interested in a home for sale by owner, you can approach them anyway, but they might increase the price to cover the cost of the agent.

My advice would be to get an agent, and it doesn't cost you anything, since the seller is the one who pays their fee, but bear in mind that some of the For Sale By Owner people won't like it.

[askslc]

I would second Chazcrew's remarks. Especially if you're moving here, buyer's agents should help you with the lay of the land, what to look for, and what to watch out for.

Also, with the market the way it is (not as hot as a couple years ago), I would think most FSBO people wouldn't mind paying the extra 3% if it means selling their house.

-askslc

[melaniee]

Originally Posted by aussie_american

Well we finally have our transfer date to Utah, so now my mind is wandering to the prospect of finding a house for our family. We are mostly interested in the Lehi, Highland, Alpine, Cedar Hills and Suncrest areas because these will be closest to my husband's job. I have spent some time in the last 2 months looking at houses on the MLS, Craigslist and For Sale by Owner websites and have a list of a few properties that fit our tastes and budget, however I am not sure of the best way to go about visting these places or finding other places that might suit our needs. I am interested in people's opinions/experiences when buying a house in the area, particularly with regards to whether they used a "Buyers agent" to help them find a home, or if they went it alone by contacting the Owner or Selling Agent of any properties they were interested in.

We moved from England to Utah and brought our first house over the internet whilst still in England without a "Buyers agent". We have just bought a second house whilst here without a "Buyers agent" and really cannot understand why people use them. Both of our transactions were so simple (trying buying in England for a complicated system!!) In fact whilst recently trying to sell the first house the people that wanted it used a "Buyers agent" and he managed to blow the whole deal by refusing to be flexible with his commission. So. we would never use one.

[scgraham]

Originally Posted by melaniee

We moved from England to Utah and brought our first house over the internet whilst still in England without a "Buyers agent". We have just bought a second house whilst here without a "Buyers agent" and really cannot understand why people use them. Both of our transactions were so simple (trying buying in England for a complicated system!!) In fact whilst recently trying to sell the first house the people that wanted it used a "Buyers agent" and he managed to blow the whole deal by refusing to be flexible with his commission. So. we would never use one.

A true buyer's agent is versed and informed of money-saving matters that most home buyers would not be. It's only through experience can one truly extrapolate the details fully.

[drwnorth]

Both scenario's have their advantages.

Considering you've been through it before, if you have the time, go it alone at your own pace. It's not rocket science. If and when you decide to go with an agent you'll be much better informed overall.

[EdLo]

AA, I agree with melaniee. We saw an ad in craigslist. It directed me to a FSBO website. We were in CA. at the time. We called the owner and set up an app't. We then flew to SLC, rented a car and drove to the house located in Highland. We toured the house, liked it and decided to buy. We gave the owner a deposit and later that day he had a realtor friend come and draw the sales contract. I believe he paid him a flat fee for about an hours worth of work. We signed all the papers and the next day or so we went to the title company and signed the rest of the papers. We flew home and a few days later we drove back to Utah with family members to do some work on the house and yard. We bought it for retirement reasons. We then contracted a contractor and had the basement finished. You see, it's not that hard to buy and I still don't see why one would need a realtor *to buy* Now we have the house on the market because of a serious health condition I developed last year. <Removed Link -- Advertising Not Allowed>

[Bridget]

If you have the time then I would try and do it yourself first and see if you can get some taken off of the price. A lot of for sale by owner houses will still pay Buyers agents commissions but some won't. If you are on a time restraint you might want to get an agent to line up a bunch of houses and get all of the comps, etc. for you. I think you can find most of the info that agents can get but it will take a little more research and time on your part so it really depends on if you have that available or not. Also, being from another market you will have to get a feel for Utahs before you jump on something to tell if it is really a good deal for this market. An agent here could tell you that already. If you need a good agent you can PM me and I will give you the name of the person we have gone through before. KSL (local news station) has a classified website that will have a housing section and FSBO and real estate agents list their properties on there.

[EdLo]

oops. I did not know a link was advertising. Sorry. Anyways, if interested click on my name and send me private email for the link.

[scgraham]

A obtaining a buyer's agent [buyer broker] isn't just about showing properties; it's about promoting the buyer's interest. Here's an article to read.

Keep in mind, the sales person with the sign in the yard seeks to get the best price & terms for the seller. If you’re buying a FSBO, generally these sellers are seeking to save themselves money, not the buyer; many are over-priced too.