Do You Need A Real Estate Agent (or Realtor) To Buy A House?
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- čas přidán 9. 07. 2019
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I don’t understand how the buyers agent has their clients interests in mind. They want their client to buy so they can collect...
The CZcamsr is an agent himself, of course, he brainwashes you guys to hire a buyer agent. You can save money by asking them to give you more discount.
buyers agents will advise the clients through current market evaluations, that the property is overpriced bc the listing agents will always try to get their own clients as much as they can. Unless it’s those rare cases where they list it at market value for a quick and easy sale. If you’re not a realtor you wont know the close estimated value of it unless you pay for the appraisal
He is 50% right...
But the bank will do his own appraisal and determine if the house is worth the price. And with the technology we have now... do you really need a buyers agent??? Maybe if you don't have the connections to buy from seller. But everything else is straight forward. Simple.. i don't understand why the make that much money for a transaction that only take them a few hours...
I'm in the process of looking, and my agent has advised to offer 20% below asking on several properties.
As a buyer, you are paying for the realtor though. Not directly, but the purchase price is based on that commission.
As a first time home buyer, I felt having a realtor was essential. We didn't really know what we were doing, only what we could research but our realtor was able to help fill in the gaps. In fact, we didn't even know where we wanted to move for a bit and our realtor gave us a 2 hour tour of 3 neighborhoods to help us narrow it down. Without that help alone we'd have been so lost. I think if you've bought property once or twice before, you might feel comfortable without one since you've done the whole rigmarole before!
Agreed, when you use a realtor they can really help you point out alot of things you dont usually see! Most of my buyers tell me WOW we didnt know that!
They want you to buy so they get paid! I just lost 1,000 dollars of my hard earned money because she insisted that everything is new and all the house needs is a chimney pointed. That has needs everything. I got excited for nothing and she’s trying to stick me with the house. I just want to look at houses myself!!! God!
The Buyer pays the buyer agent. All the seller has to do is sell the house for $10000 more in order to cover the buyers agent commission. Its like saying Amazon pays taxes, no Amazon will be taxed and then pass those costs over to the consumer
Yeah the buyer pays for them INDIRECTLY. That’s why it’s important that you choose someone that pulls their weight or fire them and hire someone else.
You definitely don't need one. I've been through so many bad ones that at this point I've just decided to go in without one in purchasing my first home
We bought our last home without agent and are searching for a used (not new) home without a realtor again now. We know the area, and have all the home value info from online (Zillow, etc) sales. The advantage is that the listing agent bends over backwards to get our deal under contract because they and their agency get twice the commission compared to us bringing our agent. It levels the playing field of “buyers agent working for buyer” because, frankly, the buyers agent works diligently to bring us together under contract, including pricing that we both agree upon. None of the agent-to-agent back room talk (Eg “They love the house and said they’d come up in price so counter us”). When we view the property, we do so with the agent that knows the house best; and although sone argue they may lead a potential buyer away from a “flaw”, our own agent likely would have no clue about such things anyway so no gain there. Agree with advice to have good attorney, of course, that’s with any home sale. I believe that we achieve better pricing and more direct negotiation when we buy without our own agent. Thanks for this great video. 🏠
Our realtor in 2 separate cases didn't do crap. Unless you're purchasing or selling from out of state it's not that hard, especially if you're selling. Even as a buyer, the agent kept showing me only their listings...so when I found a house outside their listings and she did everything to botch that deal.
Can you please do a video speaking about the pros and cons of a pre sale house the ones that are in construction and how does the process works?
You are making videos about the exact type of questions buyers have and that is something I haven’t found until now. Most of them are “how to get rich in real estate in just 3 months”, so its very refreshing to find good and quality content on CZcams. Very good job sir keep it up
I love how your from AZ. I was just YouTubing videos and thought how nice it would be to have a real estate agent from AZ then the next video was yours.
to be honest in ottawa, on, real estate buyer agent are more or less useless. they expect the buyer to put in the time to find the listing, and most get pushy if you aren't willing to overbid without conditions. i have had to abandon so many agents.
You answered a big question I had. Thanks!!
I'm starting to look at houses, the process, getting familiar with the jargon, price ranges. I'm trying to understand where the cash flow occurs with everyone involved. This really helps provide the options pros and cons.
What my agent did, she advrtized me a house surrounded by green belt, hooked me up by this green belt so I bought it. And then one years later the green belt was all cut down and a huge water tower was built on that spot, right behind my community's fence. Besides that it looks ugly, my home insuranse gets raised (flood hazard). I looked at my town's development plan and saw that this area was assigned to be a water towet spot a few years before i bought my house. If i only looked earlier and did not trust my agent... Very disappointing indeed.
Javier, do you have any videos on unmarried couples buying a house together or a couple buying a house where one pf them gets paid cash? If not can you please make videos on those 2 topics?
A lawyer can best explain the considerations for unmarried persons buying a home together. The second question is for a mortgage broker.
For new construction homes, do you recommend a realtor? Or directly thru builder?
I’m not sure how anyone can dislike this man videos if you disagree with an aspect of it ok cool but the content is spot on. You guys must be trying to get over on people without realtors that’s the dislike people
Using a buyers agent is a great idea. They can be very helpful and as long as you work well together that's great. Just don't sign anything until your ready to write an offer. And then sign the agency agreement for just that one house in case it doesn't work out. This is so you don't tie yourself up to having to use that particular agent, especially if you find you don't get along well or if you find a for sale by owner that doesn't want to pay the commission.
You can always fire the first agent.
@@isaacsnyder4033 that's true but make sure you read anything they have convinced you to sign very carefully.
Awesome vids!! Keep it going man!
Can you make a video about what is better to buy a house or a condominium. Thanks
No real better reason but each have its pros and cons and different life styles.
so glad I watched this video.. learned a lot
What do you mean when you say a buyers agent could help you have your closing costs paid for?? Does that mean it’ll be rolled into the loan?? Or actually paid for by pay someone else???
Thanks for the video, very educational. I have subscribed to your channel.
If the buyers contract is the Real Estate Agents job then why am I paying an attorney $1,000 or more to actually process that document?
Javier, do you have any videos on investor friendly agents? How these agents help investors? What questions will help me decide if is a good agent or not?
Question; What knowledge / terms and agreements etc do you have about builders who ask the buyer to stay away from their home during the building process? I understand the safety aspect etc, In the pass I had a home build that had a cracked foundation I decovered before the carpet was installed....I was able to terminate the contract because of the defect... If I stayed away, the builder would have never said anything? Oh, this would be after normal work hours eg 9 to 5.
Javier Vidana shoots it straight!
Thanks for the content!
Awesome content! Keep it up!
Straight gems 💎 in this video.
This was good. Thank you.
Question
I have a realtor agent but he didn’t help me to find the house or lock the rate do I still need a realtor
Also he don’t text or call to tell us what going on with process ???
Thank you for your time
You have some good points. But you have a strong biased against buying a house on your own, which is probably unintentional.
1) You imply since you are possibly not getting the full 6 percent reduction, in your 250k vs. 235 example, it's a bad deal. I disagree, you are splitting the commission money with the buyer. At the end, paying the mortgage on 235k is cheaper than 250k. realtors just suck up extra money for providing a very small value. Some buyers need a lot of assistance, but some know what they want.
2) Buying a house is not same as getting sued. Using this example exaggerates the need for a realtor. Most people can hire a good inspector to inspect the house and rely on assessor's data as well as third-party websites, i.e., zillow and realtor to get an understanding of the market.
3) Not all properties have 6 percent built-in commission. In fact, most do not have this.
Ibrar Khera
First point, if the seller has no agent then yes you might be able to split the would be commission. If the seller does have an agent you CANNOT split the commission the selling agent (since the commission is agreed before the home is put on the market) only splits it with another agent, the buyers agent.
On the last point, I disagree. All properties have a value, to which 90% or so use realtors in order to sell. Indirectly the commission is in the properties value...
Also on your second point. You don’t hire an inspector for property value. And definitely don’t look at Zillow, realtor or Redfin.... you hire an property appraiser. And none of these will actually write the contract for you, if your not working with a realtor. You’ll definitely will want to hire a real estate attorney. Also, an attorney might not negotiate contingencies, they just making sure your not getting screwed.
I worked with a realtor to buy and I actually got the seller to pay 80% of the closing costs. Which was something my realtor managed to do, which it’s like basically getting the 3% commission from the seller.
Just like in every profession there are good and bad attorneys, doctors, professors, mechanics and... real estate agents. The bad ones, is better to go on your own. The good ones, you would’ve never ever done as good.
Gabriel Gonzalez on your first point; I talked to my attorney and you legally can represent yourself and take the commission. Now some realtors do not like that for some reason. But some are flexible. The sellers agent is not obligated to share the commission if you don’t have your broker license though. It’s a bit tricky. Also, the legal part of it varies from state to state.
Gabriel Gonzalez on your second point, if you keep looking for house in the areas you know, you can easily understand its value. Also you can easily know what property sold in that area with websites. So it’s not difficult to understand the value of the home.
Great energy, content and approach. You have my like
Thanks!
@@JavyVidana Hey Javier thanks for the videos, it helps us out a lot. I have a question. We are thinking about making an offer on a house that says " Sold AS IS and WHERE IS". I've never seen the "where is" before in a listing. I looked it up and couldn't find much info on it. Do you know what this phrase means? I appreciate any feedback. Thanks!
What is the zelda poster you have in the background ? Do you have a link?
Hi i would like to know if I buy a new house . Do I need a realtor ? Thx
Should you sign a “relationship contract” with a realtor?
Great info.
What about if I found a new house? Should I have a realtor for that? If yes, why would I need one?
I don't like some seller I spoke too. They just want a sale or numbers so many they push through. That's why I like this guy. Rather do business with him.
Great video!
I'd prefer someone working with me on everything anyway especially since they have done it over and over again lol. They know the area very well 👀 and the experience to help you. It's just no brainer to me lol. 💕👌
The OG DJosh! Thanks for the comment!
how do address the fact that no buyers agent wants you as a buyer to get the best deal possible as it directly reduces their own paycheck. The methodology is broken. The buyers agent should get paid more as the contracted selling price goes down.
Sounds like you are talking about a good agent. How can I find a good agent?
So...if a house is being sold for 1000 and the realtor fee is "added in"....and the buyer gets the loan and buys the house for 1000. Then isn't the BUYER paying for the realtor, but for the oh so fun chance to pay for 30 years with interest?????
So a lot of this is not applicable if it’s a FISBO and the seller does not want an Agent, in todays market. Also why wouldn’t I want that seller to make his money? It’s his/her property. Sorry I’ve had a bad experience in this sellers market and literally am buying 9 acres and a livable home for 150k under value, because it’s a fisbo and the seller is a terrible marketer. Also my immediate family has an electrician, Two HVAC brothers, and a plumber. As well as I’m a roofing salesman. So I knew more about the homes I was viewing than my Real estate agents.
can a rela estate agent sale his own home via FSBO to avoid paying his own broker a free?
Mine noticed an error and made up the cost of her salary with that alone - worth it
I’m in the phx area looking to buy a home.. where do I begin to look for a real estate agent?
If you are still looking, have a local Keller William's realtor work on you behalf. I am in Orlando but I can send you a recommendation if you are interested.
William Maier Thanks for the offer. However, we already purchased our home a month back. 😊
In other words, gamble on yourself and try not to be desperate, take good pics, be honest with your buyers. In the good old days ppl kept it real n deals were made
When you think about it, you could have an agent help you buy a car, or....
So I can just go and find any real estate agent and have him/her help me find a house and I don’t have to pay anything because he’s getting paid if we close a deal? How much of a down payment would you think would be good to set down for a 160,000 home? sorry If I’m asking to much!
I know in my area you should do 20 percent of the house as a down payment or you have to pay some kind of insurance for 2 years
Is that the donkey Kong music at the end?? Nice 👌🏿😁
😭😭
This isn’t 100% related. I so badly want to buy a home, but I’m just graduating college and haven’t had a “steady” job due to my degree requirements. I’m graduating with my bachelors and can get a nice, steady paying, “adult” job. I guess my question is: when looking for a home after just landing a new job in a new town how do I make myself look like less of a risk and get approved for a loan? I think I qualify for the FHA thing since I’d be a first time buyer. Again this would be my first job and first house around the same time.
There is not a risk factor, you either qualify or you don't, as long as you have these check boxes checkmarked then you are good to go, if you don't then you need to wait until they are. czcams.com/video/8v8pOivxwIg/video.html
Hey! First off, I wanted to thank you for all of your informative videos as I'm a single mom trying to get my stuff together so I can get a house for my two babies. My issue is, I would like to purchase a duplex because I want to start real estate and I at least know I have to live there the first year. Would I be able to qualify for a higher loan amount if I'm doing a duplex? Would you be able to create a video on if I'm even able to qualify for a certain priced multi family? Please please let me know! Thank you so much!
Yes buying a duplex will help you qualify for a higher loan amount.
The buyer’s agent will make more money if they don’t negotiate the price. So they’re not really representing the best interest of the buyer anyway ???
After watching this entire video, I'm still not convinced agents are necessary to home buying and selling.
FHA has so many stipulations , Do you need a realtor if your fha approved. FHA won’t approve the home if it has defaults or damage.
Love you
Wouldn’t a Real Estate attorney cover all the contract explaining, etc?
Would a realtor be required or beneficial to have when it comes to buying a new construction home? I had one person from New America home loans mention that i shouldn't need a realtor for a new construction. Just want to verify if this is correct.
I think it can be very beneficial, But only if you work with an agent who is familiar with new construction. There are a lot of different steps and places where they will try to upsell you on finishes, cabinetry, lighting etc.. a good buyers agent will help you navigate the process and find areas where you could save money like them paying something towards the closing cost. It's a little different than buying a pre-existing home. Listing agents or sellers look at unrepresented buyers like a juicy steak, they will try to get more money out of you. A good buyer's agent will be your advocate through the process
@@jonred233 thanks. And yes i ended up getting one. So far she's been amazing to work with. We also got our pre-approval of 420k so now out realtor and my wife and I know what we're dealing with.
@@edgararcega3046 Hey that's awesome! Good luck and hope you enjoy your brand new home!
@@jonred233 , evetything what you said is incorrect. You do not need a realtor at all when you buy a new construction. At all.
@@seawatch3944 I never said you "need" one, I said they can be beneficial.
Interesting - future Real Estate Agent
My family works in real estates so they always give me back their commission payout 😘
💙
What would be the benefits of using a real estate agent for purchasing a new construction home?
You have someone watching the paperwork to ensure the builder doesn't try to pull something on you.
Also you don´t want a big surprise thinking oh yes this is a good deal and it has a cracked foundation, faulty electrics and plumbing and so on ..the list goes on
RosAnn Biondo yes, so for sure get an inspection still.
@@JavyVidana Thanks Javier
Real Estate Agent. Exactly what do they do? Nothing
I do believe many agent they are not working honestly they do try to make money from both sides.
You have not convinced me at all that an agent is necessary for the buyer. In fact, reading the comments here, it seems like the buyer's agent is often unhelpful or worse, gets in the way of a potential sale.
In California, you definitely need them if you don't want to be screwed.
I'm in NY and we have attorneys. Why do I need a buyer realtor when I know the neighborhood very well, I know the market very well,I have an attorney, I'm putting down 70% cash and will have a small mortgage. So tell me...what value added in my scenario does a full buyer realtor give me when I just check out houses through redfin passive agent?
Great questions, where I am we don't use attorneys so I wouldnt be able to justify my answer.
Seller can hide a lot of thing from you. An real estate can find out all the problems about the house you are going to buy. The agent will reveal everything before you buy the house.
I was thinking the same thing! I am buying a home in NJ and already know the house I want. I’m using a property tax lawyer. No realtor needed.
What about new construction?
True, but how will an agent affect those? Even if they were valid claims, it's doubtful the builder will bend to one buyer agent's request. Not to mention demand is at an all time high these days in major cities and any 'special' requests might just get you ignored.
I appreciate Javier's videos, but house shopping and the purchase process is exasperating, I hate it.
Unless people...
Real estate agents are slightly below used car salesmen.
Donkey Kong music 😆
Like open door no main realtor
Next video will be on them!
Really Good Point, Great Advice... :●)
I am looking for a home around 50 grand cash my agent asking me 3 grand for that
You don't need a buyer agent. It's a big scam. All their "knowledge" can be replaced by a FAQ page. It's not worth 3%. 3% people for a 500k home that's 15k. 15, 000 dollars. Think about how many hours they put in for you? that is a INSANE hourly rate.
Hahaha accountants and CPAs aren't going away anytime soon.
Hahaha you mean schemed the client to earn money. Funny hahaha just get atorny for protection to buy house security.
Great, where is the best buy?
Ah yes and now the laws have changed and buyers have to pay yall to make sure we dont get screwed over
If you buy a new construction home do you need a realtor agent?
No, you don't.
What if I’m selling a home by owner just a mobile home for 20k I don’t really want to pay a buyers agent 3% of my profit what do I do ? Raise price to 25k to pay the buyers agent ?and I don’t want to hire a listing agent either or I’ll make nothing . Screw Javier he don’t respond to comments just makes bunch of click bait videos of same shit !
Seriously? The guy has 140,000 subscribers and over 12 million views across dozens and dozens of videos. Just because a person makes a video does not obligate them to be your servant and answer random questions that you're too lazy to research. Trying to answer every question on every video would be a full time job in itself, a job which pays nothing.
He said "you don't pay the buyers agent" technically he is correct. But in the end you are paying.. if your brain can't wrap it self around this, yes you DEFINITELY need a real-estate agent. LOL..... PS DO YOUR RESEARCH... IF YOU CANT GET A REALTOR
Get a realtor and they’ll nag you endlessly until you buy something. Agents have their own back not yours.
Snake oil car salesperson serpent mega church leader criminals..But we need them
Just closing my first home in a couple of days. My opinion buying a home without a realtor would be like appearing in court without a lawyer defending you.
I see you just agreed 😅
Hi my son is buying me a house it's a fixer upper they had said 150 for it now they're saying 160 because the owner owes $10000 back in back pay I just feel like my son's being taken advantage a little bit that hes thinking OK I'm dealing with a second cousin that she's a realtor and she's gonna you know wanna make her money if there's any advice that you can give us please help us it's our 1st home it needs a lot of work thank you
No u dont
Realtors are parasites