Increasingly, home buyers are saying they want to go it alone.
They walk into new construction trailers and purchase without an agent. They drive through the streets of their neighborhood, looking for "for sale" signs, and try to negotiate on the fly. Or, they go into an open house without registering anyone as their buyer broker.
I'm completely mystified as to why home buyers do this.
In almost every situation, home sellers pay the commission. That means buyers can work with an experienced buyer broker without having to pay for it out of their own pocket. Even when the buyer purchases from a seller who is selling without an agent, a buyer's agent fee can typically be worked into the purchase price.
While some sellers can successfully sell by owner, few buyers are capable of knowing how to keep their emotions out of the deal, what disclosures the seller must make, and how to structure an offer without giving away the store.
So use a buyer's agent when purchasing a home. You'll probably save yourself thousands of dollars.
Ilyce Glink is the bestselling author of 100 Questions Every First Time Home Buyer Should Ask, and is the Managing Editor of Right at Home Daily.