House hunting/buying w/o agent - is it feasible? (sale, real estate)

[shtony]

New to the east coast and first time homebuyer, we used a real estate agent
to help us find a house to buy in Westchester. But their service is far from
satisfactory to us. Change the agent? We are told that all agents are the
same - they only care about your money, nothing else. So I am thinking of
not using an agent and going through the whole process by ourselves. Is it
feasible?

[NJGirl12]

I am no expert, but I think it would be difficult. In my experience, listing agents not always great about showing their listings (I have not been able to figure out why this is), so you end having to rely on open houses. There are a few decent agents out there, so you might want to see if you can find someone you don't mind working with.

[acip]

I am sorry to hear about your experience with the agent. But not all agents are the same and is it possible there might have been some miscommunication between you.
Also, agents are both listing and buyer's agent. For example I like working with buyer's and most of my transactions have been by representing the buyer. I am also certified in this field. I am lic in NY so that means I can show any home that is listed on the MLS whether it is listed with my agency or another. You can visit my website and read comments from some of my clients and the experience they had working with me.
One more thing to keep in mind, because you said that it is all about the money, we do not make any money until the closing . So, if you have a client that is looking for a home and let's say we started in April, put an offer in around the first week of May and actually closed on it say June 30th, the commission is split between the listing agent and the buyer's agent (5% and half of that is 2.5%) The house sold for $400,000 with a total commission of $20,000 which is split so each gets $10,000 which is split again between agent and broker , which than $5000 for each. Now take that $5000 and break it down over a two month period which is $2500 a month, break it down again for a weekly period which is $625 a week, now deduct gas, tolls, phone, etc. So, when you actually look at it does it really seem like we are only in it for the money? I am sure $500 aweek to most is not alot of money.
Good luck with your home! You can email me if you would like some help !

[K&F]

I live in Virginia, and I am researching a move to Westchester. So I'm no expert on Westchester. But I've bought and sold four houses, and I would never buy without an agent. For one thing, you need someone to negotiate for you. You just didn't have a good agent or one who made a good fit. Find someone else - ask around, get recommendations.

[Diamonds1]

My DH & I are realtors, and we are not all bad. You have to really look for the good ones, they are worth their weight in gold. They will educate you on first time mortgage options (ie: FHA), and help you tirelessly. Look for an agent with credentials, or try a meetup for new buyers.

[cdina36315]

I don't think an agent can help you find a house, especially if you are looking in a specific area. I must have had at least 10 different agents send me listings in the past few years and they were all from the MLS. I can find them myself. I was tired of telling them that I was not interested in the houses that they wanted to show me.
It is probably a good idea, to work with an agent if you don't know the area.
You may be able to negotiate better if you deal directly with the listing agent. (just my opinion) They stand to make more commission, if there is only one realtor, so you may have more room to negotiate.
Also, I would think you know what you want to pay for a particular house, so how hard is it to put an offer in with the listing agent?

[acip]

cdina
You may have gotten all the listings because they put you on auto notification, which automatically sends them to you until it expires.
Also, your opinion is the opposite. The listing agent will do their best for their client which is the seller. So not having an agent representing you alone could lead you into paying more for the house and also the question of "did they really neg the best price for you". You may also offer more for the house then it is actually worth and your agent would know this based on the history of the house, if they have knowledge about other offers that were put in etc. You also will be creating a Dual agency and did the buyer know this and was this explained to you the buyer. If you are planning to buy, you should be working with your own agent who will work with and for you . There are many good agents out there, interview them and go with your gut feeling on the one that is right for you. Good luck

[K&F]

There are other factors to consider besides price, or finding a house.

a real estate agent, especially if you are new to the area, can tie up all the loose ends and things you wouldn't think of. they'll make sure you get the house inspected and make sure there's an inspection clause in your contract, for instance. (I assume you do that in NY, it's standard operating procedure in Virginia).

Not using an agent is not going to get you a better price. a listing agent wants to make every last dollar they can on the sale - they're not going to graciously cave to your price request because they're getting the whole commission.

[acip]

Here in NY we work with the banks & lawyers. The steps to purchase are: accepted offer, than inspection, if all goes well with inspection, than signing of the contracts, title search, committment from bank and than closing. We never sign until inspection is done first unless the buyer waives the inspection and if so it will be noted in the contract etc.
Again, not having an agent represent you will do you more harm than good

[rusty78]

Originally Posted by shtony

New to the east coast and first time homebuyer, we used a real estate agent
to help us find a house to buy in Westchester. But their service is far from
satisfactory to us. Change the agent? We are told that all agents are the
same - they only care about your money, nothing else. So I am thinking of
not using an agent and going through the whole process by ourselves. Is it
feasible?

If you are really interested in finding someone who will work exclusively for you when looking for a house....find a Buyer's Agent....regardless of what you think...all Real Estate Agent's work for the Seller......not the Buyer... unless they are a Buyer's Agent...As the Seller's Agent they are prohibited from telling you many things...where as...the Buyer's Agent...represents you... not the Seller......and as such they have to tell you all they know about the house/seller/etc...it is like hiring a lawyer...he/she works for you alone....and no one else.......so who do you want to help you find a house????

Regarding the fee...the Selling Agent gets paid by the home owner and the Buyer's Agent gets paid by the home owner...it all comes out of the listing fee the Selling Agent charges the seller to list their home...so go find someone who will work for you.......good luck!!