Buying a Home Without an Agent: Is the Real Estate Industry Changing?
Tristan Ahumada Tristan Ahumada
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 Published On Streamed live on Apr 24, 2024

Let's dive into this article that clearly has biases. This article describes the author's experience buying an apartment in Brooklyn without a real estate agent. Initially skeptical, the author hired an agent but found them unhelpful – the listings were readily available online and the agent pushed for a bidding war on a risky property. The author ended up firing the agent and saved a significant amount of money by negotiating directly with the seller. The article argues that the real estate industry is changing, with sites like Zillow making listings widely available and a recent settlement potentially upending the traditional realtor commission structure. Buying a home without an agent is becoming more viable and can save buyers thousands of dollars.

The author gets very few things right, and a lot wrong, but with the media now writing more opinion pieces instead real journalism we're left with articles like the one I go over here.

Generalization & Limited Experience: The author's negative experience with one agent is presented as universal. Good real estate agents can be indispensable, and it's unfair to paint the whole industry with a broad brush.

Minimizes the Agent's Value: The article portrays the agent's work as minimal (showing listings available online, basic bidding paperwork). In reality, skilled agents provide:

Market Knowledge: Understanding pricing trends, comparable properties, and negotiation tactics in a specific area.
Process Expertise: Navigating the complex legal paperwork, inspections, contingencies, and closing procedures with experience.

Emotional Buffer: Handling stress, negotiations, and potentially difficult buyers/sellers for a smoother transaction.

Oversimplifies the Homebuying Process: While resources like StreetEasy exist, finding the right property amidst the clutter is still challenging. Additionally:

Due Diligence: Identifying potential issues (repairs needed, zoning restrictions, etc.) requires more than casual browsing.

Competitive Offers: Bidding strategies, understanding concessions, and crafting an attractive offer in multiple-offer scenarios necessitate experience.

Downplays the Time Commitment: Thorough home searches are time-consuming. Agents filter out unsuitable properties, arrange showings, and manage communication. Many buyers underestimate the time investment involved.

Ignores Buyer's Remorse Potential: Even with thorough research, buyers can experience post-purchase doubts. A good agent builds rapport and helps clients feel certain about their decision, minimizing regrets.

Real Estate agents have always been optional to use and it will continue to be that way.

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