Did you know that using a realtor is FREE for Buyers?? The Seller pays the commissions for both the listing and selling agents, so as a Buyer this is a free service to you!
Having an advocate on your side, guiding you through the process is a must when you are making the biggest purchase of your life. Many people are under the impression that if they do not use a Realtor they will be saving money as a Buyer, when in fact it is just the opposite. It is common to think that if you use the listing agent of a property write up the offer and don’t get your own Realtor you will save money in negotiations – WRONG. In fact, the listing agent will usually get double the commission (3% for listing the property, and now 3% for selling it to you). The Seller has already signed a contract with the listing agent detailing how much commission they will pay to both sides. So not only are you not getting a discount you have the Seller’s agent trying to negotiate for you. The Seller is already the listing agent’s priority, so you are actually doing yourself a disservice and many times paying more than you would if you would have gotten yourself a FREE Realtor.
I would rather have you pick a realtor out of the phonebook than not use one at all… but of course your best chance of saving money would be to work with me! 🙂
The last 5 years have definitely changed the market. As a potential Buyer, I am sure you are hearing from everyone what a GREAT time to buy it is. Here are some actually numbers that may put into perspective HOW great of a time it is now….
These stats are based on National numbers and a $400,000 home.
A 30 year mortgage today is 4.13%, in September 2006 it was 6.41%
The monthly payment today (based on the above amount & interest rates) is $1,939.76, in September 2006 it would have been $4,024.02 – a difference of $2,084.26 a month!
Over the term of the loan the total savings for the house purchased today would be $750,333!
The average monthly rent for a 2 bedroom in Seattle is $2,260 a month.
Don’t let this great time to buy pass you up!!