Buying House without a realtor? | GTAMotorcycle.com

Buying House without a realtor?

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mimico_polak

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So we've been looking for quite some time and I'm not overly happy with my realtor, who unfortunately is a very good family friend (practically like family) and not sure how to cut the cord.

We've lost out on a few bids and it's getting frustrating so thinking of going on our own instead as frankly any house she's shown us...we've already seen the listing before it gets to us from her. Also a lot of the places she's sent us are such garbage that we've had a few arguments as to why we're wasting time on garbage and things that are against what we wanted. She's only been in the business about a year or so and all her clients to date are family....I know the consequences of going without her, but wife and I are both frustrated with the level of service. Maybe we're being unrealistic in our expectations, however she keeps creeping up the price bit by bit beyond our range and it's frustrating to say the least.

Question is, how would you go about bidding on a home without a realtor on your behalf? Do I really need her? Can I get a document where I put in a bid as a private buyer instead of going with an MLS agent?

Thanks!
 
That is why we didn't hire my cousin. She's young naive, not reliable & doing this part time. Of course we got in **** for not hiring her but in the end we have to look out for ourselves.

Consult your lawyer. You will need one in the long run
 
May be able to approach the selling realtor to make your bid? Did you sign a Buyer's Representation Agreement? They would still get the commission even if not involved. Sellers agent may want you to sign a BRA with them before bidding.
 
FLSTC said:
May be able to approach the selling realtor to make your bid? Did you sign a Buyer's Representation Agreement? They would still get the commission even if not involved. Sellers agent may want you to sign a BRA with them before bidding.
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No I'd never sign that thing. She tried and I said I'll sign it for THAT place that we bid on, nothing more. She didn't like it, but I also told her if she doesn't like it we can walk right then and there.
 
Get a proper realtor who has your interest at heart.
If your cousin was a ****** mechanic, would you keep taking your car/bike to them? no.

Find a realtor that specializes in the area you're looking, and put them to work for you.
 
Put your offer in with the listing agent they get twice the commission if they are doing both sides of the deal and usually push harder to make a deal happen under these circumstances.
 
The selling agent doesn't get twice the commision, but they do get more. The seller agrees to a % for the sale. Of that % some goes to the selling agent and some goes to the buying agent. If the selling agent acts as both, their first priority is to the seller then to the buyer. They usually get a smaller % than the full commision, but more than just the selling %. The buying agent gets the bigger amount usually. The selling agent could work for 1%, but the buying agent may get 1.5%. It's all in what the seller agrees to with the selling agent.

Buying agents looking out for themselves frequently try to push you up in price to get a bigger commision. After all they get more $$ and you get a house you want...even though you pay more. lol

The last purchase I was involved in, the agents had to both take a cut in commision % so that the seller and the buyer got the price they wanted. Agents still took home a paycheque.
 
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mimico_polak said:
This is what I'm thinking of doing. PM sent.
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I also know a realtor whose partner specializes in Etobicoke (iirc that's where you are looking) if you want their info.

Sent from a Samsung Galaxy far, far away using Tapatalk
 
Joe Bass said:
I also know a realtor whose partner specializes in Etobicoke (iirc that's where you are looking) if you want their info.

Sent from a Samsung Galaxy far, far away using Tapatalk
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Thanks Joe but I can't afford Etobicoke. Every house that lists below 500k is on track for a bidding war and they sell for well over 550-600k in our area.
 
Neil_V said:
I did this with my last house.
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did this with the current house, realtor cut her commission down in order to help negotiations, worked out good for all involved.
 
Thanks guys. Will look further into it this week after we check out a place without any agents on Friday. I'll just deal with a ****** off cousin after the fact because this is getting silly at times.
 
Scuba Steve said:
Put your offer in with the listing agent they get twice the commission if they are doing both sides of the deal and usually push harder to make a deal happen under these circumstances.
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Neil_V said:
I did this with my last house.
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mbroyda said:
did this with the current house, realtor cut her commission down in order to help negotiations, worked out good for all involved.
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Did this with my house. 2 other offers, mine was mysteriously pushed to the front.
 
mimico_polak said:
So we've been looking for quite some time and I'm not overly happy with my realtor, who unfortunately is a very good family friend (practically like family) and not sure how to cut the cord.

We've lost out on a few bids and it's getting frustrating so thinking of going on our own instead as frankly any house she's shown us...we've already seen the listing before it gets to us from her. Also a lot of the places she's sent us are such garbage that we've had a few arguments as to why we're wasting time on garbage and things that are against what we wanted. She's only been in the business about a year or so and all her clients to date are family....I know the consequences of going without her, but wife and I are both frustrated with the level of service. Maybe we're being unrealistic in our expectations, however she keeps creeping up the price bit by bit beyond our range and it's frustrating to say the least.

Question is, how would you go about bidding on a home without a realtor on your behalf? Do I really need her? Can I get a document where I put in a bid as a private buyer instead of going with an MLS agent?

Thanks!
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I will be your agent. I want to sell you this house
http://www.flemmingproperties.com/14426-leslie-st-n3271328
 
Joe Bass said:
Seriously, how much money do you need to have to be able to buy that?? ( yeah, I know, $9 mil). Even winning that $60 million, I would have a tough time dropping that type of cash. But would be nice to have the option.....

Sent from a Samsung Galaxy far, far away using Tapatalk
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The property tax is over 28k lmao
 
I know people love to hate on realtors but.... if wasn't for mine, I would have never got the price i did for the house I sold and would have never won the bid (over 8 other people) for the house I bought in a highly sought after location.

She filled a 3500 square feet house with furniture and staged it as part of her 4%, which she had to give 2.5% to the selling realtor. oh and her contractor also did the kitchen backsplash for the house i sold for free, I bought the materials.

Priceless she was.

This was all her furniture she brought in for free to stage my house
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Bed was mine
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