Typically, though, buyers don’t pay the commission; sellers do. Here are some common reasons for buying a house without a Realtor: You’re purchasing a home from a trusted friend or family member. A Realtor will evaluate the prices of homes that are currently on the market and those that have sold in recent months to determine whether a seller’s asking price is in line with market data. You browse the listings, find a property you love, and go from there. Before making your decision, learn the pros and cons of buying a house without a Realtor to see if it’s a good idea. While it may not be for everyone, it is possible to buy a home without a real estate agent. If a REALTOR® is hosting the open house, he or she probably knows the local market inside and out, and will be happy to answer your questions – don’t be afraid to … First and foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your financial journey. Here’s an explanation for If you want to cast as wide a net as possible in your search, you’re best bet is to work with someone who has their pulse on all the data. At face value, buying a house without a realtor seems easy enough. If you already know the seller this probably won’t be a huge concern, but it’s something to keep in mind if you’re starting the home purchasing process without any leads. But this compensation does not influence the information we publish, or the reviews that you see on this site. About the Author: The above Real Estate information on the the risks of buying a home without a real estate agent was provided by Bill Gassett, a Nationally recognized leader in his field.Bill can be reached via email at [email protected] or by phone at 508-625-0191. or … If you’re working on your own, you’re taking a pretty big risk in assuming that all of the important questions will get answered even if you don’t know to ask them. Here are some common reasons for buying a house without a Realtor: There are a lot of moving parts that go into buying a house, so you’ll want to ensure you have all the details down. Make use of professionals when you need to, and make sure you’re doing your due diligence. If you’re considering buying without a buyer’s agent, make sure to do your homework. Buying a house without a realtor probably isn’t going to save you money, but it will almost certainly cost you some. But in actuality, realtors bring a whole lot of expertise to the table that you’re definitely going to want when you’re trying to get the best house and the best deal possible. Find out how much comparable homes sold for before making an Bankrate.com is an independent, advertising-supported publisher and comparison service. The relationship between buyer and seller is a tricky one, since both parties are focused on maximizing their own interests while making sure the other is satisfied enough to move forward. Before making your decision, learn the pros and cons of buying a house without a Realtor to see if it’s a good idea. Our experts have been helping you master your money for over four decades. Buying a home without using a real estate agent requires preparation, research and diligence. If you do decide to buy without a Realtor Request and review seller disclosures. Hi all, We have an opportunity to purchase a house from a neighbor/friend who I've known for 24 years. Bankrate’s editorial team writes on behalf of YOU – the reader. Buying a home without a realtor is difficult and not usually advised, but it does happen. The internet has made it easier than ever before to see what’s out there in terms of homes for sale, but if you’re buying a house without a realtor you’re missing out on a ton of properties that aren’t listed on traditional channels. © 2020 Bankrate, LLC. (iStock) For most people, purchasing a home is the single largest financial investment they’ll ever make. 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