First time home buyer in Austin. With proliferation of no buyers agent fee processes using Redfin and Opendoor, wondering what’s the use of having a buyers agent and paying 3% fee if you can spend some extra time and do basic research? TC 200k #Zillow #Redfin #opendoor #compass #house #home #emi #agent #commission #buyers agent
I did this successfully last year. I just contacted the listing agent and represented myself.
Sellers pay both agents anyways so what's the point?
OP can wiggle a bit since seller agent won’t split the fee otherwise
texas doesn't allow dual agency so its not like the seller agent can make both commissions
Get your bank approval ready first
Commission comes from seller, so it doesn’t matter for you, may as well get help
The money which is paid by the buyer it’s the buyers money that is paid by the seller to both parties
Yes but the allocation is already set
Fwiw I did so when buying new construction from builder few years back.
Do you want to get commissions from listing agent?
I *thought* at the time I was getting a deal /able to negotiate better since builder wasn’t paying buyers agent fee
If you are really sure about the house, you can ask the seller’s agent to be your agent as well (this means he’s getting double commission and might push the seller to accept your offer over others)
If you are buying a new construction from a reputable builder you don’t need an agent. There’s not much work an agent does here. If it’s a used home then yes. You need an agent because there’s more paperwork
For new construction the price point is usually fixed. So what I would suggest is get a buyers agent, ask them to rebate their commission. Few just charge fees as low as 500 to 1000$ for new home and rebate the rest of their comission. Why waste free money. And since its new home construction builder isn't going to cut down cost just bcos u didn't bring a realtor.
I made the mistake of touring a new construction without an agent and now the builder refuses to pencil in an agent retroactively. Can I buy a new built home as a first time homebuyer without an agent? What are some things to learn
For your first home, You’ll want an agent