Q&A

Do I need a real estate agent to buy in NYC?

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Do I need a real estate agent to buy in NYC?

Do you really need a real estate agent to buy a home in NYC? The vast majority of NYC homes are represented by a listing agent, while FSBO—or For Sale By Owner—listings are relatively rare in NYC. Buyers do not have to pick one real estate broker with whom to work exclusively, nor must they work with one at all.

Is it cheaper to buy a house without an agent?

When You Should Consider Purchasing A Home Without A Real Estate Agent. Forgoing a partnership with a real estate agent can save you a significant amount of money. You can expect to save at least 6\% of the purchase price of your home between buyer and seller agent’s commissions.

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Is it OK to look at a house without a realtor?

A: Absolutely, you should engage your own Realtor just to preview a property. If you ask the listing agent to show you the property, they have a duty to tell the seller anything you said (materially of course) about the house or situation.

Do most buyers have an agent?

Still, most homebuyers partner with a Realtor. Those who don’t tend to be experienced buyers or are familiar with the home they’re looking to purchase. If you’ve decided to buy a home without a Realtor, it’s best to hire a real estate attorney to help guide you through the more complex parts of the transaction.

What questions should I ask the seller when buying a house?

Top 10 Questions to Ask a Home Seller Before Buying

  • Why are you moving?
  • What are the average expenses?
  • How are the local schools?
  • How much did you pay for the home?
  • Have there been any major repairs?
  • Were there any structural changes?
  • How long has the home been on the market?
  • What’s included in the home sale?
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How do you buy a home without an agent?

Get their services lined up ahead of time, so you can move quickly on the right home. Once you find a home online, you should see it in person. You can attend an open house, or call the seller or listing agent to ask for a tour. You should be clear with the listing agent that you are buying a home without an agent.

Can I attend open houses in NYC without my Buyer’s Agent?

Unless an open house is by appointment only, you are permitted to attend open houses in NYC without your buyer’s agent being present.

Do I need a real estate attorney or a realtor?

A lawyer’s services will generally cost far less than the commission collected by a buyer’s agent. (Also, remember that in some states, a real estate attorney is required even when you have an agent.) Will sellers take you seriously if you don’t use an agent?

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What happens if you don’t have a real estate agent?

Many listing agents have contracts with their clients that have variable commissions; if the buyer doesn’t have an agent, the listing agent automatically gets the “leftover” commission that would normally go to the buyer’s agent. Even if you don’t use a real estate agent, do you still need to hire an attorney?