Advice on working with a home buyer's RE agent using an hourly rate?
Member since 2018 · 8 posts · 3 votes
Advice on working with a home buyer's RE agent using an hourly rate?
Most Popular Reply
Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
1yQuote from @Steve K.:
Quote from @Erika Andersen:
Update! Finding an RE buyer agent to work at an hourly or fixed rate was hard - although contrary to what a few folks mentioned here, those options are listed on the standardized Colorado contract. In the interim, I found a house, negotiated 2.5% off the listing price, and we're under contract! I attended the first open house and requested a showing by the seller agent with my husband present.
Here's why I think my process worked:
1. Denver is a buyer's market - houses sit for a bit (one month plus). Two years ago, this approach would not have been an option.
2. Narrow focus - I know the zip codes I wanted to purchase well. I wanted to be within a less than 20-minute radius of my mom. Also, hyperfocus helps me find a home with the right conditions - a stable but increasing-value neighborhood. An older house that had already been flipped (2022) -- all new appliances, remodeling, good floor plan. The exterior is a bit sad - which worked to my benefit. It didn't yell "cute" in the Zillow picture, but improving curb appeal won't be a huge investment. Plus, the buyer needed to get rid of the house quickly as she was getting married and moving - her list price was 5K over what she had paid in 2022, and she had made improvements. I knew she wouldn't want to come down too much --- so she got the same net, and I saved 2.5%. I'm happy - the floor plan is exactly what I was looking for - tri-level 4/4- which is hard to find in the price range I wanted. House went on the market 1/17- we were under contract @ day 14.
3. Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home. I also put my good student skills to use in understanding comps, etc. Fortunately, those skills can be generalized from one profession to another.
4. Luck - Colorado contracts are straightforward.
5. Support - I hired an RE attorney @ $350 hourly. I also filled out the contract to minimize the fee, and we reviewed it together. Also, my husband has experience with contracts and helped with researching information I found difficult. Overall, the process was easier than I had anticipated.
6. Privilege - We don't have contingencies. We are keeping our current house as a rental. I have a flexible schedule and was able to put in the time.
My takeaway: - I would definitely hire an RE agent as a seller. However, the next time I buy a house, if it's a buyer's market and I know the area I want to purchase well, I'll repeat this process if it's in a state with straightforward contracts. I learned a lot, feel more confident and am pleased with the outcome.
Here's what rubs me about this situation: the market has gone down since 2022. So why would you pay what they paid then? Like you said, it was a strong seller's market then with steep appreciation, multiple offers, way over-asking price offers, escalating clauses, appraisal gap coverage, buyers waiving all contingencies, etc. It was crazy. Most people who bought in 2022 overpaid. The tables have turned and it's a buyers market now with values flat or declining, much longer days on market, price drops, listings expiring, very rare to see full price offers on new listings, etc.
So why would you pay even close to what they paid at the peak of the market in 2022? Even with having made improvements, anyone selling now who purchased in 2022 should be expecting a loss. You basically made a full price offer when you didn't need to. That makes no sense. Never pay full price in a buyer's market!
Let's compare this to a deal we did last week: Seller had purchased in 2022 and listed the property for around 5% more than they had paid in 2022 (there are a lot of highly unrealistic/hopeful sellers like this currently who overpaid in 2022 and need to sell). They had no other offers so we offered 30% under ask. They countered and we met them in the middle at 15% under, and then negotiated an additional $15k off during inspection, so total discount was around $150k off list price/ what they paid in 2022. Seller had also made $100k in improvements btw. We also got them to have it professionally cleaned, ducts cleaned, they threw in some furniture for free, paid a lot of the closing costs that buyer usually pays, paid most recent mill levy instead of prior years taxes, paid my 2.8% commission, etc. because it is a buyers market and that's what you can negotiate in a buyer's market. This is a more typical deal for the current market, and what yours could have looked like if you had someone who knows what they are doing representing you.
This is typical of what I see when buyers or sellers "go it alone": the unrepresented side gets the short end of the stick every time. They often think they're getting a good deal and tell their friends they got a good deal, when they really left money on the table unknowingly. I've seen buyers leave $500k on the table and tell their friends they got a good deal by not having an agent involved. Filling out the contract etc. is not that difficult but without being active in the market every day and having expertise that comes from doing deals all the time, beginner mistakes like this are going to be made and money is going to be left on the table every time. It's no different than anything else that people try to DIY: it can be done but beginner's mistakes will be made, the end product usually isn't as good as a professional would have done, and it usually takes longer and costs more.
Frankly, this seller is really lucky you came along and were willing to overpay by 10-20% in order to "save" 2.5%. If it had been my client buying this property, they would have paid a lot less even with the full commission factored in.
It seems like the property works for you at the list price and you're fine with what you're paying, so that's great. But don't kid yourself by thinking you saved any money here by representing yourself when you are overpaying compared to what most buyers are currently paying.
Savvy buyer's agents look at stats like sold price to list price ratio trends and watch specific properties to see what they sold for compared to what they were listed for to really understand the market and make offers accordingly. You clearly misread the market here and could have done a lot better IMO. Good learning experience for you, but better to learn by working with a good agent and saving money until you have done at least 10-15 deals, rather than learning by making mistakes and leaving money on the table IMHO.
@Steve K.: is exactly right "there are a lot of highly unrealistic/hopeful sellers like this currently who overpaid in 2022 and need to sell"
A competent realtor adds the value of "and then negotiated" which is the most important portion of he transaction. The other parts can be pretty much learned from reading or watching videos.
So really, you should be looking for two things from your realtor
1. A realistic understanding of "today's" market and
2. Good negotiations skills. (not letting emotion decide how much your property is worth")
18 Replies
- 1yJonathan GreeneBusiness MemberReal Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
You can't negotiate directly with a real estate agent about hourly rates because that's up to their brokerage. It's also not plausible because you will end up arguing about what constitutes time worked which is why the DOJ narrative that this should be done is so stupid. Travel time to and from each showing counts. Research time counts. Showing houses 30 minutes at a time counts. What's your purpose of hiring someone on an hourly rate? You should just tell them up front you think they have no value. In my market, almost all sellers are still offering buyer compensation so you could hire an agent hourly, pay them, and then the seller will also pay them comp on your behalf so it doesn't really make any sense to do and no good agents will do this in my opinion. And if they did, what's an hourly rate worth depending on their experience? The top agents would be charging like attorneys and make more money then the 2-3 percent they would get from the seller.
- Real Estate Agent · Tampa Florida · Member since 2013 · 630 posts · 303 votes1y
I am in Florida and not many agents that I have met do that. if anything then I would set a flat fee to pay them for their service and then if you do find a property that offers buyers agents money, in which almost all I have seen still do...then I would have the title company back out the amount you decided on and the agent gets the remainder of the amount of commission that's left over. Its a quick and easy addendum to prepare. Its just thinking outside the box in this new market. I would also pay by activity not by the hour. That way they don't get double paid and everyone is happy and they still get something if you don't close on anything. I call it being a concierge Realtor, I have done it before for investors when they just need doors opened or comps but don't buy listed/on market properties.
- Member since 2018 · 8 posts · 3 votes1y
Hi All,
Given the current buyer's market - specifically Denver - seller agents are willing to show houses. For folks in similar markets who are willing to do their homework and who know the area they want to purchase in, it seems like using a hybrid approach might be feasible. In our case, avoiding a buyer's commission seems to be potentially helpful with negotiations, especially since we are purchasing below what we can afford, and can pay up front for RE attorney, buyer RE fees, etc. Also given the slow market it seems some RE agents are willing to consider a hybrid model. The market is dynamic. I'll show up here again to share how the story ends.
- 1yErik EstradaBusiness MemberLender · Member since 2022 · 6k+ posts · 1k+ votes
This does not make any sense. Why not just approach the listing agent to view the home or go when they have an open house?
Maybe a new realtor might take on this task, but as others have stated, they cannot negotiate this on their own. They would need authorization from their broker to do this.
LuxePrivate Investments LLC 572 Reviews - 1yZeona McIntyrePro MemberReal Estate Agent · Boulder, CO · Member since 2015 · 284 posts · 226 votes
Hey @Erika Andersen I totally hear you in wanting to save some money and taking on the task yourself. As a few have mentioned, the best way would be to call the listing agents directly, but depending on how much time you want to dedicate, setting and going on multiple appointments with different people could prove to be time-consuming. Nearly all homes I am seeing in Denver are offering a 2.5%-3% commission paid by the sellers. In your contract with your agent, you can say that you are not willing to pay above the offered commission or agree to a minimum and have your agent let you know if a home is not meeting that minimum. Any good agent can negotiate a fair commission out of the seller side if they are bringing an offer.
It is important to remember that a solid agent is not just opening doors for you, their biggest value would be in the negotiations and right now, buyers have a real advantage if one knows how to go about it. Agents are also advising you to look for expensive mistakes (like checking the sewer which could cost 5-40k) and using their network and contacts to find homes off market or FSBO.
- Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes1y
It’s not very common but I have seen this done before. Most listings have 2.5-3% allocated to the buyers agent already written into the listing agreement but you could write into the offer something lower, adjust the offer price lower accordingly and then pay your agent directly instead.
How I have seen an hourly rate structure for a buyers agent work is like this: a non-refundable retainer is first paid to the broker. Then hours are tracked and paid from the retainer at first then billed as you go after that.
Tracking hours would be kind of a pain as we tend to do a lot of partial-hour type of work like a quick phone convo or texting back and forth with a buyer client, researching properties, talking to listing agents and lenders, scheduling showings, previewing properties, travel time, etc. It would be tricky to track billable hours accurately but I’m sure there is software to make it easier.
It would for sure have to be a higher hourly rate than a typical W2 job however as agents are 1099 contractors and there are expenses associated with maintaining our licenses and operating our businesses that usually come out of our commissions. For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.
We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.
So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work. Any semi-intelligent agent is going to do the math and want to cover their expenses. Plus if the pay isn’t roughly commensurate to what they can make earning a 2.5-3% commission, then they’ll just keep doing that instead obviously. The guarantee of getting paid and a high hourly rate would be what would entice them to use the hourly rate structure over a commission structure.
A reasonable hourly rate would be $200-300/hr. for less experienced agents, closer to $500 for experienced agents IMO. I would be fine with a $10k non-refundable retainer and $500/hr. personally. For some buyers it would end up being less than a 2.5-3% commish, and for others more.
The tricky part for the buyer is it would have to come out of their pocket in addition to the down payment, whereas a commission paid by the seller at closing is included in the purchase price and absorbed into their loan (usually unless paying cash obviously) so the buyer only has to make the down payment out of pocket. Plus buyers might feel rushed into making a buying decision as the longer they shop, the more hours they are getting billed for. Buyers may not want to look at that many properties if they’re being billed per showing lol.
I like it though. I’d totally go for that as an agent. No more working for free! - Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1y
Quote from @Steve K.:
It’s not very common but I have seen this done before. Most listings have 2.5-3% allocated to the buyers agent already written into the listing agreement but you could write into the offer something lower, adjust the offer price lower accordingly and then pay your agent directly instead.
How I have seen an hourly rate structure for a buyers agent work is like this: a non-refundable retainer is first paid to the broker. Then hours are tracked and paid from the retainer at first then billed as you go after that.
Tracking hours would be kind of a pain as we tend to do a lot of partial-hour type of work like a quick phone convo or texting back and forth with a buyer client, researching properties, talking to listing agents and lenders, scheduling showings, previewing properties, travel time, etc. It would be tricky to track billable hours accurately but I’m sure there is software to make it easier.
It would for sure have to be a higher hourly rate than a typical W2 job however as agents are 1099 contractors and there are expenses associated with maintaining our licenses and operating our businesses that usually come out of our commissions. For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.
We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.
So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work. Any semi-intelligent agent is going to do the math and want to cover their expenses. Plus if the pay isn’t roughly commensurate to what they can make earning a 2.5-3% commission, then they’ll just keep doing that instead obviously. The guarantee of getting paid and a high hourly rate would be what would entice them to use the hourly rate structure over a commission structure.
A reasonable hourly rate would be $200-300/hr. for less experienced agents, closer to $500 for experienced agents IMO. I would be fine with a $10k non-refundable retainer and $500/hr. personally. For some buyers it would end up being less than a 2.5-3% commish, and for others more.
The tricky part for the buyer is it would have to come out of their pocket in addition to the down payment, whereas a commission paid by the seller at closing is included in the purchase price and absorbed into their loan (usually unless paying cash obviously) so the buyer only has to make the down payment out of pocket. Plus buyers might feel rushed into making a buying decision as the longer they shop, the more hours they are getting billed for. Buyers may not want to look at that many properties if they’re being billed per showing lol.
I like it though. I’d totally go for that as an agent. No more working for free!Your Comment: "Tracking hours would be kind of a pain as we tend to do a lot of partial-hour type of work like a quick phone convo or texting back and forth with a buyer client"
The attorneys I know charge by the 15 minutes, some by the 7 minutes minimum regardless of how little time they take. A 2 minute email is charged as 7 minutes or 15 minutes depending on the attorney and expertise. I suspect you would bill in a similar manner.Sometimes, it isn't the amount of time, it's the amount of knowledge and expertise.
- Member since 2018 · 8 posts · 3 votes1y
Update! Finding an RE buyer agent to work at an hourly or fixed rate was hard - although contrary to what a few folks mentioned here, those options are listed on the standardized Colorado contract. In the interim, I found a house, negotiated 2.5% off the listing price, and we're under contract! I attended the first open house and requested a showing by the seller agent with my husband present.
Here's why I think my process worked:
1. Denver is a buyer's market - houses sit for a bit (one month plus). Two years ago, this approach would not have been an option.
2. Narrow focus - I know the zip codes I wanted to purchase well. I wanted to be within a less than 20-minute radius of my mom. Also, hyperfocus helps me find a home with the right conditions - a stable but increasing-value neighborhood. An older house that had already been flipped (2022) -- all new appliances, remodeling, good floor plan. The exterior is a bit sad - which worked to my benefit. It didn't yell "cute" in the Zillow picture, but improving curb appeal won't be a huge investment. Plus, the buyer needed to get rid of the house quickly as she was getting married and moving - her list price was 5K over what she had paid in 2022, and she had made improvements. I knew she wouldn't want to come down too much --- so she got the same net, and I saved 2.5%. I'm happy - the floor plan is exactly what I was looking for - tri-level 4/4- which is hard to find in the price range I wanted. House went on the market 1/17- we were under contract @ day 14.
3. Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home. I also put my good student skills to use in understanding comps, etc. Fortunately, those skills can be generalized from one profession to another.
4. Luck - Colorado contracts are straightforward.
5. Support - I hired an RE attorney @ $350 hourly. I also filled out the contract to minimize the fee, and we reviewed it together. Also, my husband has experience with contracts and helped with researching information I found difficult. Overall, the process was easier than I had anticipated.
6. Privilege - We don't have contingencies. We are keeping our current house as a rental. I have a flexible schedule and was able to put in the time.
My takeaway: - I would definitely hire an RE agent as a seller. However, the next time I buy a house, if it's a buyer's market and I know the area I want to purchase well, I'll repeat this process if it's in a state with straightforward contracts. I learned a lot, feel more confident and am pleased with the outcome.
- Member since 2018 · 8 posts · 3 votes1y
Quote from @Steve K.:
It’s not very common but I have seen this done before. Most listings have 2.5-3% allocated to the buyers agent already written into the listing agreement but you could write into the offer something lower, adjust the offer price lower accordingly and then pay your agent directly instead.
How I have seen an hourly rate structure for a buyers agent work is like this: a non-refundable retainer is first paid to the broker. Then hours are tracked and paid from the retainer at first then billed as you go after that.
Tracking hours would be kind of a pain as we tend to do a lot of partial-hour type of work like a quick phone convo or texting back and forth with a buyer client, researching properties, talking to listing agents and lenders, scheduling showings, previewing properties, travel time, etc. It would be tricky to track billable hours accurately but I’m sure there is software to make it easier.
It would for sure have to be a higher hourly rate than a typical W2 job however as agents are 1099 contractors and there are expenses associated with maintaining our licenses and operating our businesses that usually come out of our commissions. For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.
We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.
So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work. Any semi-intelligent agent is going to do the math and want to cover their expenses. Plus if the pay isn’t roughly commensurate to what they can make earning a 2.5-3% commission, then they’ll just keep doing that instead obviously. The guarantee of getting paid and a high hourly rate would be what would entice them to use the hourly rate structure over a commission structure.
A reasonable hourly rate would be $200-300/hr. for less experienced agents, closer to $500 for experienced agents IMO. I would be fine with a $10k non-refundable retainer and $500/hr. personally. For some buyers it would end up being less than a 2.5-3% commish, and for others more.
The tricky part for the buyer is it would have to come out of their pocket in addition to the down payment, whereas a commission paid by the seller at closing is included in the purchase price and absorbed into their loan (usually unless paying cash obviously) so the buyer only has to make the down payment out of pocket. Plus buyers might feel rushed into making a buying decision as the longer they shop, the more hours they are getting billed for. Buyers may not want to look at that many properties if they’re being billed per showing lol.
I like it though. I’d totally go for that as an agent. No more working for free!Having done the process now - I think the issue is buyer RE agents expecting a 2.5%+ commission like in the past. In many areas, it's a buyer's market. Savvy buyers have a lot of support resources, AI, and automation to DIY much of the buyer process, market research, and purchase process. Many of the skills required are translatable from other professions. Filling out the contracts is surprisingly simple. Working with an RE attorney provides peace of mind at a fraction of the traditional commission structure of the RE. When it's a buyer's market, I think RE agents will need to be creative to offer a variety of structures to work with/ prospective buyers.
- Member since 2018 · 8 posts · 3 votes1y
Quote from @Ken M.:
Quote from @Steve K.:
It’s not very common but I have seen this done before. Most listings have 2.5-3% allocated to the buyers agent already written into the listing agreement but you could write into the offer something lower, adjust the offer price lower accordingly and then pay your agent directly instead.
How I have seen an hourly rate structure for a buyers agent work is like this: a non-refundable retainer is first paid to the broker. Then hours are tracked and paid from the retainer at first then billed as you go after that.
Tracking hours would be kind of a pain as we tend to do a lot of partial-hour type of work like a quick phone convo or texting back and forth with a buyer client, researching properties, talking to listing agents and lenders, scheduling showings, previewing properties, travel time, etc. It would be tricky to track billable hours accurately but I’m sure there is software to make it easier.
It would for sure have to be a higher hourly rate than a typical W2 job however as agents are 1099 contractors and there are expenses associated with maintaining our licenses and operating our businesses that usually come out of our commissions. For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.
We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.
So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work. Any semi-intelligent agent is going to do the math and want to cover their expenses. Plus if the pay isn’t roughly commensurate to what they can make earning a 2.5-3% commission, then they’ll just keep doing that instead obviously. The guarantee of getting paid and a high hourly rate would be what would entice them to use the hourly rate structure over a commission structure.
A reasonable hourly rate would be $200-300/hr. for less experienced agents, closer to $500 for experienced agents IMO. I would be fine with a $10k non-refundable retainer and $500/hr. personally. For some buyers it would end up being less than a 2.5-3% commish, and for others more.
The tricky part for the buyer is it would have to come out of their pocket in addition to the down payment, whereas a commission paid by the seller at closing is included in the purchase price and absorbed into their loan (usually unless paying cash obviously) so the buyer only has to make the down payment out of pocket. Plus buyers might feel rushed into making a buying decision as the longer they shop, the more hours they are getting billed for. Buyers may not want to look at that many properties if they’re being billed per showing lol.
I like it though. I’d totally go for that as an agent. No more working for free!Your Comment: "Tracking hours would be kind of a pain as we tend to do a lot of partial-hour type of work like a quick phone convo or texting back and forth with a buyer client"
The attorneys I know charge by the 15 minutes, some by the 7 minutes minimum regardless of how little time they take. A 2 minute email is charged as 7 minutes or 15 minutes depending on the attorney and expertise. I suspect you would bill in a similar manner.Sometimes, it isn't the amount of time, it's the amount of knowledge and expertise.
Yep! Tracking is a pain, and attorneys have it down! By doing my homework, such as studying up on the Colorado contract and filling it out myself in advance of working with the attorney, asking questions of the attorney as a last resort after searching for information to the best of my ability, and clarifying my questions and sending any questions in an email, I was able to minimize time and pay less. Not everyone wants to do this, but thousands of dollars can be saved for those who do! It's another form of DIY/ sweat equity, just as folks learn basic construction/ home repair skills to save thousands.
- Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes1y
Quote from @Erika Andersen:
Update! Finding an RE buyer agent to work at an hourly or fixed rate was hard - although contrary to what a few folks mentioned here, those options are listed on the standardized Colorado contract. In the interim, I found a house, negotiated 2.5% off the listing price, and we're under contract! I attended the first open house and requested a showing by the seller agent with my husband present.
Here's why I think my process worked:
1. Denver is a buyer's market - houses sit for a bit (one month plus). Two years ago, this approach would not have been an option.
2. Narrow focus - I know the zip codes I wanted to purchase well. I wanted to be within a less than 20-minute radius of my mom. Also, hyperfocus helps me find a home with the right conditions - a stable but increasing-value neighborhood. An older house that had already been flipped (2022) -- all new appliances, remodeling, good floor plan. The exterior is a bit sad - which worked to my benefit. It didn't yell "cute" in the Zillow picture, but improving curb appeal won't be a huge investment. Plus, the buyer needed to get rid of the house quickly as she was getting married and moving - her list price was 5K over what she had paid in 2022, and she had made improvements. I knew she wouldn't want to come down too much --- so she got the same net, and I saved 2.5%. I'm happy - the floor plan is exactly what I was looking for - tri-level 4/4- which is hard to find in the price range I wanted. House went on the market 1/17- we were under contract @ day 14.
3. Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home. I also put my good student skills to use in understanding comps, etc. Fortunately, those skills can be generalized from one profession to another.
4. Luck - Colorado contracts are straightforward.
5. Support - I hired an RE attorney @ $350 hourly. I also filled out the contract to minimize the fee, and we reviewed it together. Also, my husband has experience with contracts and helped with researching information I found difficult. Overall, the process was easier than I had anticipated.
6. Privilege - We don't have contingencies. We are keeping our current house as a rental. I have a flexible schedule and was able to put in the time.
My takeaway: - I would definitely hire an RE agent as a seller. However, the next time I buy a house, if it's a buyer's market and I know the area I want to purchase well, I'll repeat this process if it's in a state with straightforward contracts. I learned a lot, feel more confident and am pleased with the outcome.
Here's what rubs me about this situation: the market has gone down since 2022. So why would you pay what they paid then? Like you said, it was a strong seller's market then with steep appreciation, multiple offers, way over-asking price offers, escalating clauses, appraisal gap coverage, buyers waiving all contingencies, etc. It was crazy. Most people who bought in 2022 overpaid. The tables have turned and it's a buyers market now with values flat or declining, much longer days on market, price drops, listings expiring, very rare to see full price offers on new listings, etc.
So why would you pay even close to what they paid at the peak of the market in 2022? Even with having made improvements, anyone selling now who purchased in 2022 should be expecting a loss. You basically made a full price offer when you didn't need to. That makes no sense. Never pay full price in a buyer's market!
Let's compare this to a deal we did last week: Seller had purchased in 2022 and listed the property for around 5% more than they had paid in 2022 (there are a lot of highly unrealistic/hopeful sellers like this currently who overpaid in 2022 and need to sell). They had no other offers so we offered 30% under ask. They countered and we met them in the middle at 15% under, and then negotiated an additional $15k off during inspection, so total discount was around $150k off list price/ what they paid in 2022. Seller had also made $100k in improvements btw. We also got them to have it professionally cleaned, ducts cleaned, they threw in some furniture for free, paid a lot of the closing costs that buyer usually pays, paid most recent mill levy instead of prior years taxes, paid my 2.8% commission, etc. because it is a buyers market and that's what you can negotiate in a buyer's market. This is a more typical deal for the current market, and what yours could have looked like if you had someone who knows what they are doing representing you.
This is typical of what I see when buyers or sellers "go it alone": the unrepresented side gets the short end of the stick every time. They often think they're getting a good deal and tell their friends they got a good deal, when they really left money on the table unknowingly. I've seen buyers leave $500k on the table and tell their friends they got a good deal by not having an agent involved. Filling out the contract etc. is not that difficult but without being active in the market every day and having expertise that comes from doing deals all the time, beginner mistakes like this are going to be made and money is going to be left on the table every time. It's no different than anything else that people try to DIY: it can be done but beginner's mistakes will be made, the end product usually isn't as good as a professional would have done, and it usually takes longer and costs more.
Frankly, this seller is really lucky you came along and were willing to overpay by 10-20% in order to "save" 2.5%. If it had been my client buying this property, they would have paid a lot less even with the full commission factored in.
It seems like the property works for you at the list price and you're fine with what you're paying, so that's great. But don't kid yourself by thinking you saved any money here by representing yourself when you are overpaying compared to what most buyers are currently paying.
Savvy buyer's agents look at stats like sold price to list price ratio trends and watch specific properties to see what they sold for compared to what they were listed for to really understand the market and make offers accordingly. You clearly misread the market here and could have done a lot better IMO. Good learning experience for you, but better to learn by working with a good agent and saving money until you have done at least 10-15 deals, rather than learning by making mistakes and leaving money on the table IMHO.
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1y
Quote from @Steve K.:
Quote from @Erika Andersen:
Update! Finding an RE buyer agent to work at an hourly or fixed rate was hard - although contrary to what a few folks mentioned here, those options are listed on the standardized Colorado contract. In the interim, I found a house, negotiated 2.5% off the listing price, and we're under contract! I attended the first open house and requested a showing by the seller agent with my husband present.
Here's why I think my process worked:
1. Denver is a buyer's market - houses sit for a bit (one month plus). Two years ago, this approach would not have been an option.
2. Narrow focus - I know the zip codes I wanted to purchase well. I wanted to be within a less than 20-minute radius of my mom. Also, hyperfocus helps me find a home with the right conditions - a stable but increasing-value neighborhood. An older house that had already been flipped (2022) -- all new appliances, remodeling, good floor plan. The exterior is a bit sad - which worked to my benefit. It didn't yell "cute" in the Zillow picture, but improving curb appeal won't be a huge investment. Plus, the buyer needed to get rid of the house quickly as she was getting married and moving - her list price was 5K over what she had paid in 2022, and she had made improvements. I knew she wouldn't want to come down too much --- so she got the same net, and I saved 2.5%. I'm happy - the floor plan is exactly what I was looking for - tri-level 4/4- which is hard to find in the price range I wanted. House went on the market 1/17- we were under contract @ day 14.
3. Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home. I also put my good student skills to use in understanding comps, etc. Fortunately, those skills can be generalized from one profession to another.
4. Luck - Colorado contracts are straightforward.
5. Support - I hired an RE attorney @ $350 hourly. I also filled out the contract to minimize the fee, and we reviewed it together. Also, my husband has experience with contracts and helped with researching information I found difficult. Overall, the process was easier than I had anticipated.
6. Privilege - We don't have contingencies. We are keeping our current house as a rental. I have a flexible schedule and was able to put in the time.
My takeaway: - I would definitely hire an RE agent as a seller. However, the next time I buy a house, if it's a buyer's market and I know the area I want to purchase well, I'll repeat this process if it's in a state with straightforward contracts. I learned a lot, feel more confident and am pleased with the outcome.
Here's what rubs me about this situation: the market has gone down since 2022. So why would you pay what they paid then? Like you said, it was a strong seller's market then with steep appreciation, multiple offers, way over-asking price offers, escalating clauses, appraisal gap coverage, buyers waiving all contingencies, etc. It was crazy. Most people who bought in 2022 overpaid. The tables have turned and it's a buyers market now with values flat or declining, much longer days on market, price drops, listings expiring, very rare to see full price offers on new listings, etc.
So why would you pay even close to what they paid at the peak of the market in 2022? Even with having made improvements, anyone selling now who purchased in 2022 should be expecting a loss. You basically made a full price offer when you didn't need to. That makes no sense. Never pay full price in a buyer's market!
Let's compare this to a deal we did last week: Seller had purchased in 2022 and listed the property for around 5% more than they had paid in 2022 (there are a lot of highly unrealistic/hopeful sellers like this currently who overpaid in 2022 and need to sell). They had no other offers so we offered 30% under ask. They countered and we met them in the middle at 15% under, and then negotiated an additional $15k off during inspection, so total discount was around $150k off list price/ what they paid in 2022. Seller had also made $100k in improvements btw. We also got them to have it professionally cleaned, ducts cleaned, they threw in some furniture for free, paid a lot of the closing costs that buyer usually pays, paid most recent mill levy instead of prior years taxes, paid my 2.8% commission, etc. because it is a buyers market and that's what you can negotiate in a buyer's market. This is a more typical deal for the current market, and what yours could have looked like if you had someone who knows what they are doing representing you.
This is typical of what I see when buyers or sellers "go it alone": the unrepresented side gets the short end of the stick every time. They often think they're getting a good deal and tell their friends they got a good deal, when they really left money on the table unknowingly. I've seen buyers leave $500k on the table and tell their friends they got a good deal by not having an agent involved. Filling out the contract etc. is not that difficult but without being active in the market every day and having expertise that comes from doing deals all the time, beginner mistakes like this are going to be made and money is going to be left on the table every time. It's no different than anything else that people try to DIY: it can be done but beginner's mistakes will be made, the end product usually isn't as good as a professional would have done, and it usually takes longer and costs more.
Frankly, this seller is really lucky you came along and were willing to overpay by 10-20% in order to "save" 2.5%. If it had been my client buying this property, they would have paid a lot less even with the full commission factored in.
It seems like the property works for you at the list price and you're fine with what you're paying, so that's great. But don't kid yourself by thinking you saved any money here by representing yourself when you are overpaying compared to what most buyers are currently paying.
Savvy buyer's agents look at stats like sold price to list price ratio trends and watch specific properties to see what they sold for compared to what they were listed for to really understand the market and make offers accordingly. You clearly misread the market here and could have done a lot better IMO. Good learning experience for you, but better to learn by working with a good agent and saving money until you have done at least 10-15 deals, rather than learning by making mistakes and leaving money on the table IMHO.
@Steve K.: is exactly right "there are a lot of highly unrealistic/hopeful sellers like this currently who overpaid in 2022 and need to sell"
A competent realtor adds the value of "and then negotiated" which is the most important portion of he transaction. The other parts can be pretty much learned from reading or watching videos.
So really, you should be looking for two things from your realtor
1. A realistic understanding of "today's" market and
2. Good negotiations skills. (not letting emotion decide how much your property is worth") - 1yV.G JasonPro MemberInvestor · Member since 2022 · 3k+ posts · 3k+ votes
Quote from @Ken M.:
Quote from @Steve K.:
Quote from @Erika Andersen:
Update! Finding an RE buyer agent to work at an hourly or fixed rate was hard - although contrary to what a few folks mentioned here, those options are listed on the standardized Colorado contract. In the interim, I found a house, negotiated 2.5% off the listing price, and we're under contract! I attended the first open house and requested a showing by the seller agent with my husband present.
Here's why I think my process worked:
1. Denver is a buyer's market - houses sit for a bit (one month plus). Two years ago, this approach would not have been an option.
2. Narrow focus - I know the zip codes I wanted to purchase well. I wanted to be within a less than 20-minute radius of my mom. Also, hyperfocus helps me find a home with the right conditions - a stable but increasing-value neighborhood. An older house that had already been flipped (2022) -- all new appliances, remodeling, good floor plan. The exterior is a bit sad - which worked to my benefit. It didn't yell "cute" in the Zillow picture, but improving curb appeal won't be a huge investment. Plus, the buyer needed to get rid of the house quickly as she was getting married and moving - her list price was 5K over what she had paid in 2022, and she had made improvements. I knew she wouldn't want to come down too much --- so she got the same net, and I saved 2.5%. I'm happy - the floor plan is exactly what I was looking for - tri-level 4/4- which is hard to find in the price range I wanted. House went on the market 1/17- we were under contract @ day 14.
3. Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home. I also put my good student skills to use in understanding comps, etc. Fortunately, those skills can be generalized from one profession to another.
4. Luck - Colorado contracts are straightforward.
5. Support - I hired an RE attorney @ $350 hourly. I also filled out the contract to minimize the fee, and we reviewed it together. Also, my husband has experience with contracts and helped with researching information I found difficult. Overall, the process was easier than I had anticipated.
6. Privilege - We don't have contingencies. We are keeping our current house as a rental. I have a flexible schedule and was able to put in the time.
My takeaway: - I would definitely hire an RE agent as a seller. However, the next time I buy a house, if it's a buyer's market and I know the area I want to purchase well, I'll repeat this process if it's in a state with straightforward contracts. I learned a lot, feel more confident and am pleased with the outcome.
Here's what rubs me about this situation: the market has gone down since 2022. So why would you pay what they paid then? Like you said, it was a strong seller's market then with steep appreciation, multiple offers, way over-asking price offers, escalating clauses, appraisal gap coverage, buyers waiving all contingencies, etc. It was crazy. Most people who bought in 2022 overpaid. The tables have turned and it's a buyers market now with values flat or declining, much longer days on market, price drops, listings expiring, very rare to see full price offers on new listings, etc.
So why would you pay even close to what they paid at the peak of the market in 2022? Even with having made improvements, anyone selling now who purchased in 2022 should be expecting a loss. You basically made a full price offer when you didn't need to. That makes no sense. Never pay full price in a buyer's market!
Let's compare this to a deal we did last week: Seller had purchased in 2022 and listed the property for around 5% more than they had paid in 2022 (there are a lot of highly unrealistic/hopeful sellers like this currently who overpaid in 2022 and need to sell). They had no other offers so we offered 30% under ask. They countered and we met them in the middle at 15% under, and then negotiated an additional $15k off during inspection, so total discount was around $150k off list price/ what they paid in 2022. Seller had also made $100k in improvements btw. We also got them to have it professionally cleaned, ducts cleaned, they threw in some furniture for free, paid a lot of the closing costs that buyer usually pays, paid most recent mill levy instead of prior years taxes, paid my 2.8% commission, etc. because it is a buyers market and that's what you can negotiate in a buyer's market. This is a more typical deal for the current market, and what yours could have looked like if you had someone who knows what they are doing representing you.
This is typical of what I see when buyers or sellers "go it alone": the unrepresented side gets the short end of the stick every time. They often think they're getting a good deal and tell their friends they got a good deal, when they really left money on the table unknowingly. I've seen buyers leave $500k on the table and tell their friends they got a good deal by not having an agent involved. Filling out the contract etc. is not that difficult but without being active in the market every day and having expertise that comes from doing deals all the time, beginner mistakes like this are going to be made and money is going to be left on the table every time. It's no different than anything else that people try to DIY: it can be done but beginner's mistakes will be made, the end product usually isn't as good as a professional would have done, and it usually takes longer and costs more.
Frankly, this seller is really lucky you came along and were willing to overpay by 10-20% in order to "save" 2.5%. If it had been my client buying this property, they would have paid a lot less even with the full commission factored in.
It seems like the property works for you at the list price and you're fine with what you're paying, so that's great. But don't kid yourself by thinking you saved any money here by representing yourself when you are overpaying compared to what most buyers are currently paying.
Savvy buyer's agents look at stats like sold price to list price ratio trends and watch specific properties to see what they sold for compared to what they were listed for to really understand the market and make offers accordingly. You clearly misread the market here and could have done a lot better IMO. Good learning experience for you, but better to learn by working with a good agent and saving money until you have done at least 10-15 deals, rather than learning by making mistakes and leaving money on the table IMHO.
@Steve K.: is exactly right "there are a lot of highly unrealistic/hopeful sellers like this currently who overpaid in 2022 and need to sell"
A competent realtor adds the value of "and then negotiated" which is the most important portion of he transaction. The other parts can be pretty much learned from reading or watching videos.
So really, you should be looking for two things from your realtor
1. A realistic understanding of "today's" market and
2. Good negotiations skills. (not letting emotion decide how much your property is worth")Ideally, yes.
But let's be honest-- most agents don't care about getting their client the best deal, but just closing the deal particularly on the buy side. How many agents do you see now that follow those 2 rules?
And then if they are, they're actually willing to do the back & forth negotiations require.
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1y.
Quote from @V.G Jason:
Quote from @Ken M.:
Quote from @Steve K.:
Quote from @Erika Andersen:
Update! Finding an RE buyer agent to work at an hourly or fixed rate was hard - although contrary to what a few folks mentioned here, those options are listed on the standardized Colorado contract. In the interim, I found a house, negotiated 2.5% off the listing price, and we're under contract! I attended the first open house and requested a showing by the seller agent with my husband present.
Here's why I think my process worked:
1. Denver is a buyer's market - houses sit for a bit (one month plus). Two years ago, this approach would not have been an option.
2. Narrow focus - I know the zip codes I wanted to purchase well. I wanted to be within a less than 20-minute radius of my mom. Also, hyperfocus helps me find a home with the right conditions - a stable but increasing-value neighborhood. An older house that had already been flipped (2022) -- all new appliances, remodeling, good floor plan. The exterior is a bit sad - which worked to my benefit. It didn't yell "cute" in the Zillow picture, but improving curb appeal won't be a huge investment. Plus, the buyer needed to get rid of the house quickly as she was getting married and moving - her list price was 5K over what she had paid in 2022, and she had made improvements. I knew she wouldn't want to come down too much --- so she got the same net, and I saved 2.5%. I'm happy - the floor plan is exactly what I was looking for - tri-level 4/4- which is hard to find in the price range I wanted. House went on the market 1/17- we were under contract @ day 14.
3. Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home. I also put my good student skills to use in understanding comps, etc. Fortunately, those skills can be generalized from one profession to another.
4. Luck - Colorado contracts are straightforward.
5. Support - I hired an RE attorney @ $350 hourly. I also filled out the contract to minimize the fee, and we reviewed it together. Also, my husband has experience with contracts and helped with researching information I found difficult. Overall, the process was easier than I had anticipated.
6. Privilege - We don't have contingencies. We are keeping our current house as a rental. I have a flexible schedule and was able to put in the time.
My takeaway: - I would definitely hire an RE agent as a seller. However, the next time I buy a house, if it's a buyer's market and I know the area I want to purchase well, I'll repeat this process if it's in a state with straightforward contracts. I learned a lot, feel more confident and am pleased with the outcome.
Here's what rubs me about this situation: the market has gone down since 2022. So why would you pay what they paid then? Like you said, it was a strong seller's market then with steep appreciation, multiple offers, way over-asking price offers, escalating clauses, appraisal gap coverage, buyers waiving all contingencies, etc. It was crazy. Most people who bought in 2022 overpaid. The tables have turned and it's a buyers market now with values flat or declining, much longer days on market, price drops, listings expiring, very rare to see full price offers on new listings, etc.
So why would you pay even close to what they paid at the peak of the market in 2022? Even with having made improvements, anyone selling now who purchased in 2022 should be expecting a loss. You basically made a full price offer when you didn't need to. That makes no sense. Never pay full price in a buyer's market!
Let's compare this to a deal we did last week: Seller had purchased in 2022 and listed the property for around 5% more than they had paid in 2022 (there are a lot of highly unrealistic/hopeful sellers like this currently who overpaid in 2022 and need to sell). They had no other offers so we offered 30% under ask. They countered and we met them in the middle at 15% under, and then negotiated an additional $15k off during inspection, so total discount was around $150k off list price/ what they paid in 2022. Seller had also made $100k in improvements btw. We also got them to have it professionally cleaned, ducts cleaned, they threw in some furniture for free, paid a lot of the closing costs that buyer usually pays, paid most recent mill levy instead of prior years taxes, paid my 2.8% commission, etc. because it is a buyers market and that's what you can negotiate in a buyer's market. This is a more typical deal for the current market, and what yours could have looked like if you had someone who knows what they are doing representing you.
This is typical of what I see when buyers or sellers "go it alone": the unrepresented side gets the short end of the stick every time. They often think they're getting a good deal and tell their friends they got a good deal, when they really left money on the table unknowingly. I've seen buyers leave $500k on the table and tell their friends they got a good deal by not having an agent involved. Filling out the contract etc. is not that difficult but without being active in the market every day and having expertise that comes from doing deals all the time, beginner mistakes like this are going to be made and money is going to be left on the table every time. It's no different than anything else that people try to DIY: it can be done but beginner's mistakes will be made, the end product usually isn't as good as a professional would have done, and it usually takes longer and costs more.
Frankly, this seller is really lucky you came along and were willing to overpay by 10-20% in order to "save" 2.5%. If it had been my client buying this property, they would have paid a lot less even with the full commission factored in.
It seems like the property works for you at the list price and you're fine with what you're paying, so that's great. But don't kid yourself by thinking you saved any money here by representing yourself when you are overpaying compared to what most buyers are currently paying.
Savvy buyer's agents look at stats like sold price to list price ratio trends and watch specific properties to see what they sold for compared to what they were listed for to really understand the market and make offers accordingly. You clearly misread the market here and could have done a lot better IMO. Good learning experience for you, but better to learn by working with a good agent and saving money until you have done at least 10-15 deals, rather than learning by making mistakes and leaving money on the table IMHO.
@Steve K.: is exactly right "there are a lot of highly unrealistic/hopeful sellers like this currently who overpaid in 2022 and need to sell"
A competent realtor adds the value of "and then negotiated" which is the most important portion of he transaction. The other parts can be pretty much learned from reading or watching videos.
So really, you should be looking for two things from your realtor
1. A realistic understanding of "today's" market and
2. Good negotiations skills. (not letting emotion decide how much your property is worth")Ideally, yes.
But let's be honest-- most agents don't care about getting their client the best deal, but just closing the deal particularly on the buy side. How many agents do you see now that follow those 2 rules?
And then if they are, they're actually willing to do the back & forth negotiations require.
I agree, and That's my point. They don't deserve my money if they can't perform those tasks. - Member since 2018 · 8 posts · 3 votes1y
Great points - and likely the price points we are talking about are very different - yours much higher. Very possible I made mistakes. However, while anyone who purchased in 2022 should expect a loss, that doesn't mean everyone is going to/ able to accept one until the house has sat on the market for a while - probably different at your price point - ie more expendable $; able to absorb a loss. The house is a good fit for us, and we didn't want to wait. Family medical issue- being near my mom is the driver. I'd been looking for a long time and nothing close to what we wanted. The house hadn't been on the market long. We didn't pay full price, and the process isn't over. It's pretty much conjecture regarding how the deal could have gone.
- Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes1y
Quote from @Erika Andersen:
Great points - and likely the price points we are talking about are very different - yours much higher. Very possible I made mistakes. However, while anyone who purchased in 2022 should expect a loss, that doesn't mean everyone is going to/ able to accept one until the house has sat on the market for a while - probably different at your price point - ie more expendable $; able to absorb a loss. The house is a good fit for us, and we didn't want to wait. Family medical issue- being near my mom is the driver. I'd been looking for a long time and nothing close to what we wanted. The house hadn't been on the market long. We didn't pay full price, and the process isn't over. It's pretty much conjecture regarding how the deal could have gone.
It's true that the market is softer in the higher prices but I'm not writing any offers anywhere near asking price in any price band in this market. Why do that if there aren't any other offers? The worst they can say is no and give you a counter, or they ignore you and you try again a little higher, or wait a few weeks and try a little lower. It seems like you just really wanted this property so you let your emotions drive your offer. There will always be other properties. If there are none on the market, then look off market.
Maybe it's conjecture on my part, but I think a good agent (good being the operative word) would have encouraged you to start by offering lower and saved you more than 2.5%.
Just about every time I have been privy to the details of a transaction where one of the parties is unrepresented and the other is, the unrepresented party gets the short end of the stick. Either they overpay or don't negotiate the right terms, or miss something major.
The worst is when a friend does a DIY sale then calls me after closing asking if they should sue the other party (usually for failure to disclose a known issue/ misrepresentation of the property/ they feel like they overpaid/ buyer's remorse). It's too late after closing for me to help them, but if they had reached out before I could have easily prevented that situation for them. Colorado is a caveat emptor state/ buyer beware that means buyer must do their due diligence prior to purchasing. It sucks being a situation where you want to unwind a sale or have to lawyer up and go after the seller. Most times when people look into it, they decide to just eat their mistake because lawyers usually want a big retainer and legal fees add up quickly with no guarantee of success.
People just don't know what they don't know and there is a lot more to real estate transactions than looking at Zillow and using the state form to fill out a contract.
- 1yScott AllenBusiness MemberReal Estate Agent · Columbus, OH · Member since 2020 · 449 posts · 471 votes
@Erika Andersen I have a real estate license and am very active with it still with both buyers and sellers. I used a buyer's agent last year in my own market when buying a deal off-market that he brought to me. That agent represented me as the buyer and the seller chose to self-represent themself. The deal was so good that I agreed to let my greasy buyer's agent make the full 6% on the purchase instead of trying to spit it with him.
Do Colorado sellers not pay the buyer agents out there to sell their houses for them if they're sitting? Why would you have to pay an agent by the hour when this is meant to be a performance driven industry/don't sell me a house - don't get paid. If you understand the buying process from buying previous purchases, why even use an attorney or an agent? Just go to the listing agent and make them show you the house - they can prep the offer for you/tell them the changes you want in the contracts, and tell them you're fine with them representing the seller as their client while you be the customer and self rep yourself (remember, they rep the seller and their best interest/not yours in that situation). Just do your own due diligence
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