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Is a realtor necessary?

I'm shopping for my first home and I'm trying to save as much as I can. don't realtrs take a large commission? by dsugal900 from Boomer, North Carolina. Oct 16th 2020 Reply

Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,300 contributions

The most expensive mistake you will likely make is buying your first home WITHOUT a Realtor working for you. In most states, including NC, the seller enters into a contract with a Realtor to pay them a commission to sell the house. If you reach out to the person who hangs the sign, that agent will represent the seller as a client, and will sell the home to you as a customer. By LAW, the agent MUST deal in favor of the seller, their client, and NOT you. HOWEVER, if you hire your own agent to represent you as a buyer, you sign a buyer's agent agreement and your agent now represents you as a client and works in your best interest. But, and this is the really cool part, the seller's agent splits the commission from the seller with YOUR agent, meaning you get an agent that represents you and the seller pays for them. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ 480-889-9000.

Oct 17th 2020
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,409 contributions

Technically no... realistically? Yes. As a buyer, understand YOU do not pay a Real Estate Agent directly out of your pocket. Their pay for their services is paid by the seller. When a home is listed for sell, the listing agent charges a fee to the seller. That fee is then split between the selling agent and the buying agent. A common misconception is if you also use the listing agent, you will save money... Don't fall for that. It isn't true. You ALWAYS need your own personal agent to properly represent YOU, and the sellers agent is only bound to deal in the sellers best interest. If you are reading this and buying in my backyard or Minneapolis or Saint Paul Minnesota, I know tons of great agents I can refer someone to. Find me at - NMLS 274132

Oct 19th 2020
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