Profile picture for user611728

How do I make an offer on a house? Do i need a realtor?

  • March 28 2012 - Grand Junction
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Answers (15)

Profile picture for BoulderBobGordon
In Colorado, you can purchase property as a Customer (no agency), with a Transaction Broker (agent represents the deal, not you) or with a Buyer Agent (agent specifically represents your interests).  Buyer Agency states thre (3) advantages for the purchaser: Seek your price and terms; notify you as to any material risks;  place your best interests ahead of the agents.  Would you like a copy of the State disclosure on agency? (It is a legal document BUT NOT a contract). As buying a home is a major financial decision, it is in your best interests to have an agent. According to the National Association of Realtors, buyers with their own agents saved more money on transactions than buyers without (available from the most up to date Home Buying and Selling Guide). Transaction Agency is okay to, if both buyer and seller have the same, then it is a level playing field for all.  Nothing wrong with being a customer. I'm a customer everytime I walk into Safeway to shop.  What is most important to you in the process?
  • April 12 2012
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Profile picture for Sue Anderson1

No, you do not have to use a Realtor to make an offer on a house, but it is in your best interest. A Realtor will be able to locate and show you homes that are on the market.  They will be representing you to negotiate, guide you thru the loan process, prepare the offer and all of the supporting documents, help you facilitate inspections and finally get to the closing table.  Make sure you choose a Realtor that you feel comfortable with and is knowledgeable about the area.
Good Luck!

  • April 07 2012
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You know, if a house is listed with a real estate agent, ultimately the BUYER will be forking out the money to the seller who will then pay the agents.

So the way I look at it, you are paying for an agent anyway, you might as well have their expertise!
  • April 07 2012
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Profile picture for GeorgeTriant
Depending on where you want to buy, it is in your best interest to be represented by a realtor in their capacity as a buyer's agent to protect your interest and confidentiality.  In most cases, the buyer's agent will be compensated by the seller through a commission split already disclosed on the listing agreement.
  • April 07 2012
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No you do not need a realtor to make an offer; however working with a Realtor the services are free to you. Also by working with a Realtor you get the best advice, negotiate price on your behalf, prepare all of the contract, make sure you are protected, & make sure you are paying market value not more of what the property is actually worth.
A Realtor has access to the MLS and can also give you access to view & receive information as properties base on your criteria come on the market. You also have the ability to view the properties of you interest since a Realtor has access to key box.
All you need to do is to make sure you find a good local Realtor that knows the market & the area you are looking for.

Best of luck! Hope this helped. 
  • April 06 2012
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No, You do not need a realtor to make an offer on a house. However, as most of the other answers indicate, it usually does not cost a buyer anything to use the services of a realtor.The commission is typically paid by the seller at close of escrow. If you do not use an agent and the listing agent has a 6% commission that he or she is prepared to share with the buyer's agent, that savings does not go to the buyer. In fact, the selling agent would then keep the entire commission. The reasons to have a buyer's agent are many. First, your access to view properties both on the MLS and in person is much greater with a realtor because of the use of the Supra lockbox which enables realtors to show homes, usually at any time and without notice, unless otherwise indicated by seller. In addition, a buyer's agent can help find reputable mortgage agents, prepare contracts and deal with counter offers then set up home inspection and work with the title company to ensure a timely close.  I would suggest trying to find an agent who understands your needs and is willing to put in the time to help find your ideal home.
  • April 06 2012
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Profile picture for dpotokar

I would recomend that you find a good agent to represent you in a transaction. If you only contact the listing agent, you have to remember that the listnig agent is working for the seller first. A good buyers agent will tell you exactly what the property is worth. Your agent will represent your interests and protect you throughout the home buying process.

  • April 05 2012
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You do not have to have a Realtor but I highly recommend it. It is in your best interest and if you are worried about the cost, Realtor fees are generaly paid by the seller if the property is listed with a realtor and not a For Sale By Owner. I hope that helps.
  • March 29 2012
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Profile picture for Dunes ..
Here's a pretty decent breakdown from NAR/Realtor.com ;)

"The Basics of Making an Offer"
  • March 29 2012
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Profile picture for wordsmth
No, you don't need a Realtor. However, one would be very advisable. Especially--and this isn't a criticism--since you're asking the question in the first place and then weren't sure whether you could do it on the Internet.

Get yourself a Realtor. It won't cost you anything.
  • March 29 2012
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Profile picture for Appraisal guy
If you find a listing of a home you want. Just call and ask them if you could take a look at the home.  Order an appraisal to give you a better idea of the value of the home. I know the bank will do this for you, but the bank will do this to protect them, not you. Desktops cost $200 or less, Drive bys cost around $250. A full appraisal will cost $300 or $400 in most cases. This might sound expensive until you get burned for $30,000 or more. I've seen this happen when buyers are putting larger amounts of cash down.
  • March 29 2012
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You can do an offer yourself, but it would be much better if you find a local real estate professional that specializes in helping buyers.  The seller will have their listing agent, representing their best interest... you as the buyer will have a "selling" agent aka buyer's agent, representing your best interest... 

The great thing is that the seller pays the commission that is then split between the buyer agent and the listing agent...  so it will not cost you a penny, but it does not mean you should pick any agent.  Instead, pick the best as you deserve it!
  • March 28 2012
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Using a realtor should cost you (buyer) nothing.  Here's how it works: the seller contracts with the selling broker for X% lets use 6%.  The contract usually reads 6% total, 3% to the sellers broker and 3% to the buyers broker. If the sellers broker brings a buyer, they get the whole 6%.    Thats how the brokers get paid.   You should be able to call any local brokerage and get a realtor who is willing to do the legwork for you.  If you 'go for it alone', you have no one watching out for your best interests. 
  • March 28 2012
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Profile picture for user611728
So where do I go to make an offer? Website or realtor?
  • March 28 2012
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No, not at all, however you need to hire one if you have no knowledge and experience in a real estate transaction, like what kind of the contingency clause shoud you put in the contract, etc..., you lose no money to hire one but it protects your interest.

  • March 28 2012
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