The original St. Louis Real Estate Blog, est 2004 with Darin "Sid" Cameron, CRS.
Understand the St. Louis housing and real estate market better. Sid is a licensed real estate broker in Missouri.
The St Louis Agent Team of RE/MAX Properties West
 | For Agents | Forum | Bookmark Site
Subscribe to RSS Feeds - Click Here!
Bookmark and Share
Chat with an Agent!
Real estate questions?
Want to see a home?
 Click for Live Chat or
Call: (314) 598-4040
 Email this Article! Email this article d Discuss this article d Printer friendly page with resizable text
 Do You Save Money by Buying a Home without an Agent?
By: Darin "Sid" Cameron, CRS
Thu, Jan 13th, 2005 12:41 am

I had someone looking to buy a house ask me if they could “save money” by not using an agent. To respond, let me take a few moments to explain who pays for real estate transactions and how the real estate industry works.

In most real estate transactions, commission for a home sale is generally paid for by the seller, not the buyer. At the same time, the commission rate for a home sale is generally set prior to a home being listed- between the seller and the seller’s agent. When the sales commission rate is negotiated between the seller and their agent, there is generally an agreement between all of the local real estate agencies (called a Multiple Listing Service or MLS) that says a percentage of the seller’s commission is set aside for the buyer’s agent. As a result, if you choose to purchase a home without your own agent, all you are doing is giving the whole commission to the seller’s agent- which doesn’t save you the buyer any money.

Also, when working with a Seller's agent, remember anything you tell them- like “I love this house and it’s well within my budget,” they are required to share with the seller. That’s because they have a signed contract with the seller guaranteeing that they will represent the seller’s best interest- not yours. Even a general conversation with a seller’s agent might come back to haunt you when you go to negotiate a sale.

If you have more questions, feel free to e-mail me or check out my website at http://www.stlagent.com

[ Next Article: The Future of Your Home! ]
[ Previous Article: Update on Banks in Real Estate Bill ]


Search this Blog:


Darin 'Sid' Cameron, CRS

Contact Me on Facebook!

 Contact me on LinkedIn!

Follow me on Twitter!
Darin "Sid" Cameron spent 15 years working in the technology industry which in 1998 relocated him to St. Louis. In 2004 he took over web development tasks for Kimberly's real estate team and later became the full-time Marketing and Operations Director in 2005. In 2011 Sid launched two brokerages, The Realty Store, Inc. and Realty Referral Partners, Inc, while continuing to perform marketing and operations for Kimberly's team. Sid holds a real estate broker's license in Missouri, CRS certification and was the first CyberStar in the St. Louis area.
Certified Residential SpecialistCyberStar!
Follow me on Active Rain!


All Blog Articles XML/RSS

Add to My Yahoo!


All Categories
 News  Things to Do  Real Estate Trends  Misc Stuff  Selling a Home  Calendar of Events  Home Repair  Buying a Home  Interest Rates and Financing  Investment Real Estate  Credit Reports and Safety  Our Website and Services  Government and Legislation  Internet Resources  Living in St. Louis  Home Improvement  St Louis Housing Market  Real Estate Statistics  Home Safety  Blogging In General

RE/MAX Properties West
Kimberly Cameron, Team Leader
RE/MAX Properties West Direct: 314 598-4040
16497 Clayton Road Office: 636 532-5900
St. Louis, MO 63011 Fax: 800 573-1985
Email Us Here! Toll Free: 800 573-5276
Equal Housing Opportunity
The St. Louis Agent Team of RE/MAX Properties West
     
 
Realtor