Today some colleagues of mine and I were discussing buyers without REALTORS. What's up with that? I have one listing in particular that seems to attract them. If you're a buyer out there reading this, then I have some information to convey to you.
A buyer without a REALTOR may think they can do all the work themselves and have the cost of the the buyers agents commission converted to a reduction on the price of the home but it doesn't usually work out the way they imagine.
First of all, the seller has contracted with the sellers agent to pay a set commission regardless of whether there is another agent involved or not. If you are a buyer without an agent than the sellers agent is entitled to retain the full commission and deserves it because the work they will do to close that sale has now doubled without another agent carrying the load for the buyer. I've had buyers ask me if the seller will agree to credit them for the commission. What? They should be asking the agent because the seller has already (and in writing) agreed to pay the sellers agent the full commission. Now it's up to the sellers agent to decide if they will give up part of their commission for the buyer.
Secondly, the buyer usually can't find their way through the processes and procedures without asking questions and help of the sellers agent. Hey! The sellers agent doesn't represent you and is not obligated to help you in any way. Now the sellers agent is caught between a rock and a hard place because they don't have a knowledgeable agent on the buyers end to work with toward a successful conclusion.
Thirdly, the aid that a buyers agent provides showing properties should not be under valued. I have buyers calling to schedule showings on my listings and they expect me to make it convenient for them. Why? I don't represent them. If they want convenient showings then they need to hire an agent that can show them properties in their time frame. If it's my listing, I represent the seller!
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