Is it mandatory to buy a house via a licensed broker?

Question

Wanted to know :

If a good deal is found via any of the following:

Wholesaling Vs MLS Vs Birddog Vs Seller Financing

The realtor or a broker's role comes only when buying house listed on MLS.

Wanted to know can someone directly purchase a good deal from a wholesaler or found visa bird dogging or passed on via seller financing.

That way we could eliminate realtor fees and would be a win-win for the buyer and seller.

(This question was asked to me by my friend who is getting a great deal via the latter methods)

Randy Rodenhouse · Answer

If you find a deal you can buy the house directly from the seller. If the house is listed on mls of course the agent will be involved and get their commissions. But you can find a house (not listed on mls) and talk to the seller of the house directly with no agent involved if that's what you're asking. If I sell a house with owner financing I don't need an agent to do so.

Aditya Bhate · Answer

No but then someone may find a discounted deal from a wholesaler/bird dogger which would not be available on MLS for same price.

Caleb Bryant · Answer

@Caleb Bryant you have to vet well**

Caleb Bryant · Answer

@Aditya Bhate yes you can buy without a realtor. You can sell your own property without a realtor or licensed broker as well. With that said, if the person asking is new they will likely want someone they can trust who has experience in their “board of advisors” anyway. Often times a good realtor is an option for that. The caveat is, most realtors aren’t good, so you have to get well just like with any professional position. Also keep in mind, whether with realtors or other areas in life, you’re going to pay the fee in one way or another, either to someone or through and experience. It can be expensive both ways haha

Ran Iarovich · Answer

You can make it work but you will be losing out on the following:

- someone who can look through the weasel clauses and encumbrances in the contract

- eagle eye view on the market and upcoming deals

- a negotiator on your behalf

- transaction coordinator

- and more

Also, the buyer doesn't pay the agent's commission so there is minimal risk for them in using a prominent agent.

Nathan Gesner · Answer

You can use bird dogs, wholesalers, or go to the owner directly.

You won't know the market like a good REALTOR would, but you can still make it work if you put in the effort.

Aditya Bhate · Answer

Thanks @Bob Stevens.

Aditya Bhate · Answer

Thanks @Randy Rodenhouse and @Benjamin Aaker for providing a clear picture.

Bob S. · Answer

Of course not.  I have done 100s and 100s and 100s never using a broker. All off market, thats were the deals are ,

Is it mandatory to buy a house via a licensed broker?

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