We have always strongly advised our pre-approved buyers (and sellers) to work with an agent/Realtor. Many buyers and sellers mistakenly believe they can “go it alone” and thus save or garner funds that would have otherwise gone for Realtor commissions. .
We USED TO think the above logic was nonsense simply b/c untrained buyers and sellers lacked necessary knowledge; Realtors are essential for MLS access, knowledge of particular markets, and assistance with negotiating (contingencies, inspections, credits, etc.).
We learned this all too well ourselves, as we used to try to write contracts for our buyers in order to “kick back” commission, and we invariably ended up begging for help from a salty old ReMax agent who owned our office building.
But in this “buyers market”, we are seeing another absolutely essential reason that BOTH buyers and sellers need agents – buyers and sellers often end up hating each other. Buyers think they can ask for the world in this market, and sellers often think they have already given up the world.
As a result, we have at least 5 transactions in our pipeline right now that involve buyers and sellers who despise each other. And if they did not have agents acting as “go-betweens”, they would kill each other. And, even worse (from our perspective), the transactions would never close b/c negotiations would break down without rational agents “refereeing”.
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167