Do you need a real estate agent for a home that is listed ?

Buying & Selling Real Estate
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Do you need a real estate agent for a home that is listed ?

Cody Jensen
Colonia, NJ · Member since 2015 · 83 posts · 17 votes

Hey guys, 

I'm not sure why I haven't done this earlier. I have found a few properties that I had been interested in central New Jersey. I've contacted a local agent and such, had walked through one of the 2 places i was considering. Both are duplexes and it would be my first home purchase. 

I'd really like to get a portfolio going and it seems like the real estate agents are fly by night. I went through a walk through one property when i had questions about the property such as average rent for the area the home is located, i got no response, nor have i been contacted by the agent.

At this point I really would prefer not to deal with an agent. I'm sick of wasting my time...

Is there any way to purchase a home without an agent even though the home is listed on the MLS etc? I'm not sure if any of you have had this issue before.

Thank you 

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  • Bob Okenwa
    Real Estate Agent/Investor · Peoria, AZ · Member since 2016 · 2k+ posts · 2k+ votes
    9y

    As a buyer, you do not need an agent, but you should have one as they are the ones who are going to negotiate on your behalf to get you the best deal and it costs you nothing. You can just call the listing agent and tell them you are buying without a buyers agent and would like to view the property. Make sure you have an attorney on your side to review the contract and fine details of the transaction as the listing agent has no obligation to you or your needs/concerns and will do everything they can to get their client the best deal, even at the expense of you and your money.

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  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    9y

    @Cody Jensen, unfortunately, you have just dealt with the 90% of realtors who are just looking for a quick sale and don't want to do anything for it. Of the 10% of good agents left, 99% of those agents don't understand investors and how they work. In their defense, there are plenty of "investors" who give agents the runaround, use them for information and then find a way to buy without them so it's not all unfounded. The best thing to do is to do the research for investor-friendly agents in the area and then quiz them about what they know about investment properties. I would not recommend calling the listing agent on any deals. The listing agent must always keep the seller first in mind and even in the case of dual agency (both sides), the seller is their priority because the seller pays the entire commission. I would be happy to help find you a referral in the areas you are looking if you need it.

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  • Cody Jensen
    OP
    Colonia, NJ · Member since 2015 · 83 posts · 17 votes
    9y
    Originally posted by @Bob Okenwa:

    As a buyer, you do not need an agent, but you should have one as they are the ones who are going to negotiate on your behalf to get you the best deal and it costs you nothing. You can just call the listing agent and tell them you are buying without a buyers agent and would like to view the property. Make sure you have an attorney on your side to review the contract and fine details of the transaction as the listing agent has no obligation to you or your needs/concerns and will do everything they can to get their client the best deal, even at the expense of you and your money.

     Thank you ! I didnt know you can do that. I'm going to keep that in mind ! 

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  • Cody Jensen
    OP
    Colonia, NJ · Member since 2015 · 83 posts · 17 votes
    9y
    Originally posted by @Jonathan Greene:

    @Cody Jensen, unfortunately, you have just dealt with the 90% of realtors who are just looking for a quick sale and don't want to do anything for it. Of the 10% of good agents left, 99% of those agents don't understand investors and how they work. In their defense, there are plenty of "investors" who give agents the runaround, use them for information and then find a way to buy without them so it's not all unfounded. The best thing to do is to do the research for investor-friendly agents in the area and then quiz them about what they know about investment properties. I would not recommend calling the listing agent on any deals. The listing agent must always keep the seller first in mind and even in the case of dual agency (both sides), the seller is their priority because the seller pays the entire commission. I would be happy to help find you a referral in the areas you are looking if you need it.

     @johnathan It was funny because i never gave him a hard time whatsoever, I literally just needed to see the inside of the property, other then the information i couldn't attain such as previous rent roll from the seller, he didn't have to do anything. You know? That would be great if you know any agents around the Woodbridge/New Brunswick area? 

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