Buyer agent really needed?

2 Replies

Looking to contract and close a two investment property deal directly with the seller. No agents involved. Since it's my first time doing this (by myself), I just don't want to overlook something or delay something. So are buyer agents really needed? What purpose do they serve at this point of the process that I can't do myself? I'm always told that an attorney should be involved (not needed in pa) to cover my a$$. So what is the most cost effective way to proceed???

If you're asking the question, you need someone.  Perhaps you could find an agent and pay them a straight fee for some best practices guidance.  You're going to need an attorney/title co. anyway for the lags, title search/insurance, etc.  You need someone for the practical investment/procedures advice.

Do you know how to make sure the house appraises? Do you know how long it takes to get the appraisal done in your market so you dont go past your appraisal contingency date? Do you know the requirements for the property condition for the loan product you are using. Do you know what is customary in your marketplace for what is the responsibility of the buyer and the seller? Does your loan product require any specific types of inspections,..termite, home, radon...and if so do you know vendors with the appropriate licensing and certifications to do those inspections?

Not everyone needs an agent, but most people do. I've been an agent for 13 years....but when I buy properties in states where I'm not licensed, I still use an agent even with 13 years of experience, because I'm well aware of how complicated the process is and how much the process differs in each state.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here