You can well imagine my negative reaction to a post I read a while back from a buyer who decided to shun the help of a real estate broker.
Writing on the BrickUnderground site, Mayra David says she and her husband learned a lot from the process, though she concedes that proceeding alone may not have been the best idea:
In retrospect, it wouldn’t have been the worst thing in the world to have had the benefit of a good broker’s experience, advice, and assurance on our journey to the $196,000 fixer-upper we eventually bought.
Among the things she reported having learned were these:
- The considerable time she spent attending open houses, searching online and learning “all aspects of the transaction” really paid off;
- She had to keep pushing to see apartments, get answers from sellers and lenders, and see the transaction through to its successful completion;
- The benefits of relying on a local lender were huge.
What is evident from David’s post is that the process required a big commitment from her. Says she:
It’s exhausting, all that pushing, but good for toning those muscles you’ll need when you’re dealing with contractors for your remodel.
True, it certainly is possible to work without a buyer’s representative. But you don’t have to read between the lines to discern that it’s not for everyone.
In other words, what beats going it alone is having an advocate who knows the market, has a complete understanding of the transaction journey, can make good referrals, helps the consumer avoid potential pitfalls, knows how to negotiate effectively and proves to be a reliable hand-holder.
And it doesn’t cost the buyer a dime.
Tomorrow: Weekly Roundup
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Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022