Did you know that most home buyers pay way too much when they purchase a home from a for-sale-by-owner (FSBO) ? A few months ago, a homeowner called me to list their house. When I asked where they were moving to, he told me that they just purchased a condo directly from a FSBO. No agent was involved. I discovered that they paid $12,000 more than the market value.
This won’t happen if I represent you. It’s just one of the reasons why you should always hire a buyer’s agent.
Why Buyers Pay Too Much for FSBO
In today’s low inventory market, buyers are tempted to grab any opportunity to make a quick offer on the house they are looking for. If they see a FSBO that meets their criteria, buyers rush to directly deal with the seller. All too often they accept the seller’s asking price without checking the true value of the property.
You probably assume you will get a better deal if you directly deal with the seller, because there’s no commission to be paid. That’s not the case. Sellers look out for their own bottom line. They don’t have any incentive to reduce the price. In the past 24 months I encountered numerous occasions where unrepresented buyers overpaid for their homes. Let me help you avoid this mistake.
Why You Need a Buyer’s Representative
Here are 3 ways how I can help you, protect you, and possibly save you money when you buy a home, whether it’s a FSBO, a regular listing on the MLS, or a new home from a builder.
- You will NOT overpay: I always check comparable sales and tell you the true market value of a home you want to buy, before you make an offer.
- I will insist on an inspection: You should always do a home inspection, even on new construction homes. Builders are very busy these days and may not catch every mistake committed by their construction crews. Recently, one of my customers saved thousands of dollars when the inspection of his new built home revealed unfinished duct work.
- I will negotiate on your behalf: When you make an offer without representation, you have to keep in mind that the FSBO, the builder or the listing agent DO NOT have your best interest in mind. As a buyer’s agent, I will exclusively represent you and have only YOUR best interests in mind.
Is it worth the cost?
Absolutely. Most of the time your cost is zero. The seller pays the commission of the agent representing in the buyer. Even FSBO’s realize that offering a coop commission to buyer’s agents is necessary to sell their home.
If you ever need a trusted real estate professional then please contact me at (614) 975-9650, I have represented hundreds of clients and have made sure to negotiate the best deal for them when they were either buying, selling or both! I will always make sure to keep your best interests first, and I will never accept an offer that is not up to your liking. Contact me today to list or buy!