Real Estate 101, Chapter 2 - Why work with an Agent?
OK, so in chapter 1, we covered what a Realtor is, how they get paid, and why we often get the bad-rap in on-line discussions about real estate.
As a real estate buyer, why should you work with a real estate agent?

After all, you do have internet access, and can take some time and learn all you need to know to make an offer and buy a property. That is the truth. But do you really want to? If you are going to that kind of trouble, it certainly would make sense if you saved a lot of money, or got an under-market price on a property. And it is possible that you could. But what are the odds of that happening, and how much time and effort would you need to expend to achieve savings and discounts?
Are you aware of the fact that you don't have to pay a dime to a buyer's agent to search for and buy a house? The exception may be if you buy a FSBO (for sale by owner), but even then, FSBO sellers are generally willing to pay the buyer's agent something for bringing a willing buyer and handling the transaction. And still, what you would pay would be voluntary and negotiable. On 99% of MLS listed properties, the seller will pay the buyer's agent a commission - you pay nothing! Seems like a pretty good deal to me.
I have been in sales of one kind or another since I was 24 years old (now over 50), and one thing I have learned is that most people feel that they already know enough to proceed on their own in making purchases. With most things, that may well be the case. You can go on-line and read reviews, you can comparison shop, you can even try things for free for a limited time. You are comparing apples to apples and oranges to oranges.
How about a house in the city of Seattle? Or any established city for that matter. I'm not talking about cookie-cutter tracts in the burbs, I'm talking about neighborhoods in the city where a brand new house might be next door to one that is 100 years old. Where no two houses are alike. What should you look for? What should be of concern to you? Is new always better than old? Do you feel confident that you can walk in on your own and trust the listing agent or FSBO seller to give you the low-down on the home from sewer to roof? From wiring to appliances, from windows to siding, from dry basements to leaky ones? Is there a gigantic hornet's nest in the rafters?
Are you a condo buyer? Do you know what a Re-sale certificate is? A Public Offering statement? Conditions, Covenants, and Restrictions? Have you considered Dryvit or LP siding, zoning, wiring type, or past legal issues such as liens and lawsuits? Hmmmm - maybe a free counselor in the form of a real estate agent might not be a bad idea after all.
This should really be a no-brainer, however, there is human nature to consider. You have to find an agent who has YOUR best interests front and center. Not someone who is thinking how their sales commission might cover the car payment, the credit card bills, trip to Vegas, etc.
That is the tough part, and that is where you need to focus your energy. Find the right agent, and the rest will be done for you. Ask around, go online, ask questions of your agent. And please realize that asking how many homes they have sold is not necessarily the definitive criteria. The more homes an agent is selling, the less time they have for YOU. You need someone with plenty of experience ideally, but many agents who are new have a mentor, or a good broker to make sure that they don't make mistakes.
Either way, forget about the "Top Producers" being the best buyer's agent, and focus on customer service that takes care of your personal agenda. I'm not saying that they are bad, it's just that they are very, very busy people. And do you know what they are really good at? -Getting more clients! I personally would want someone who can devote their primary energies to finding me a home and handling the transaction - someone who is not primarily focused on rounding up the next client.
If any readers have a specific question about buying a home, please do not hesitate to contact me!