Related Posts
Bowl Leader
When is the Bitcoin bubble going to pop?
More Posts
Can I get 15 likes so I can DM please!!??
Need 11 likes for dm
Keep those resolutions going 💪🏼
Enthusiast
Pro
Thoughts on body size positivity movement?
Additional Posts in The Real Estate Bowl
Any Property Management recs in Seattle area? :(
Anonymous User
Enthusiast
Best way to start wholesaling real estate?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
The expenses related to the license/broker affiliation etc offset the potential commission. Also getting the license is a time commitment for 6 months or so, so not worth it.
It depends your state. In most of the states you need to take in person classes for 6 months. Good luck
You can hire a a real estate lawyer for a fee rather than a commission- they are by law in most states a real estate agent. It usually takes 3 months to get your real estate license online $400. I think it's a good idea. You can also negotiate with real estate agents and say I'm searching for my home, I'm going to get my own inspections but I'll hire you to write my offers and I'll pay you $1500 see what happens-- the real estate agent market was hit with a law suit throwing buyers fees up in the air as to who should normally pay for them. Used to sellers now the new law says that all has to be negotiated. One other source is flat fee listing agents. See if the offer a flat buyers service. Good luck!
I looked into it and came to same conclusions as others in this thread. Don’t think it’s worth it unless you’ll be buying and selling consistently (like maybe you’re an investor).
I opted to buy without a realtor, and I used a lawyer for contract review. My “legal benefits” that I pay an extra $15 a month for through work actually completely covered the legal fees.
You’ll have to reach out to listing agents directly to schedule a showing or visit during open houses. That was the biggest hassle. If you’re in a hot area for sellers this might be a problem (I bought last August and had no issues).
You’ll want to have your preapproval ready and be able to communicate that you know what you’re doing.
I found the most success reaching out to the listing agent with a “Hi I saw x listing and my wife and I would love to arrange a time to see it”, they will almost always ask if you have a realtor in short order and try to then become your realtor. I found that saying “I’ve bought a handful of houses in the past, and I’m opting to proceed without a realtor for now. I’m ready to buy and preapproved with 20% down and don’t need to sell any properties to close.” Will usually get you a showing, though experienced realtors will usually ask a bunch of questions to make sure you’re not wasting their time.
Lastly, don’t bring up the buyer agent commissions until they do or until you’re making an offer. I found by far the best way to navigate the commission discussion was “I know this listing has a x% commission for the buyer agent, and I don’t have a buyers agent so that isn’t going to have to be paid. Whatever you do with that is between you and seller, but I’m making my offer with the assumption that there net proceeds to you and seller are x% higher than they normally would be.”
Don’t get embroiled in arguing about the commission. You’ll likely have to sign a form indicating that you’re representing yourself and will not need a buyer commission.
Dm me if questions.
FWIW, the house I bought was about $1.2M and I didn’t have any issues, I probably saved about $30k somewhere
What state are you in?
CA
I would definitely do it in CA! 2-3% is a lot. Most brokers won’t charge you anything for your own transaction.