Is it worth getting a realtor if you're buying a house?

[Argo]

Let me explain - there's a number of condominiums being built in Seattle, with each one having their own sales office. If one was set on choosing one of such condos, is it even worth bothering with a realtor? Would absence of one save any money?

 

[AgaBoogaBoo]

I'm not an expert on it nor have I gone through the process of buying one myself, but if they were going to have to cut the realtor a percentage, then they just saved on that fee and so you'll have a larger room to haggle.

 

[jiggahertz]

The seller pays the real estate commissions so if their services are worth more than nothing to you you should probably go ahead and talk to one.

 

[Mermaidman]

Get a realtor unless you have experience buying real estate. The realtor can help you, among other things, determine a fair price for the property. Even if the developer does not pay a buyer's agent fee, you're unlikely to see the full discount because a developer wants to maintain a high selling price to preserve the value of the other unsold units. You're more likely to see incentives such a free upgrades.

My realtor gave me half of his commission as a rebate and even then, the developer made very sure that the rebate did not show up in the price of the transaction.

 

[xgsound]

Originally posted by: jiggahertz
The seller pays the real estate commissions so if their services are worth more than nothing to you you should probably go ahead and talk to one.

#1 If the seller pays those costs he gets the money to do it from the buyer.

#2 That's true (even the law) in some states and localities, but varies widely by location.

#3 If there's no buyer's realtor, the saved money is up for negotiation.

For the OP, I would go to the place I wanted to live and see if I could make a deal first. Don't be in a hurry. If you get your own finances ready first so you know you have proof of funds, then make the verbal offer you want to give (low price or they add extras). When they say no, walk and say "keep me in mind, I'm ready to sign and have proof of funds". Then call at the end of the month/quarter to see if they're more interested now. New developments do tend to be more agreeable to providing extras while all the workers are still there and meeting monthly goals is important too. If this is over your head get a realtor to set it up. It's all a game and we all pay thru the nose somehow.


Jim