Saving Commissions

Saving on Real Estate Commissions.

Looking to save money (who aren't these days?) sounds appealing? Yes, certainly. An owner can sell their own property; a buyer, of course, can buy directly from the seller.

Real estate commissions represent a significant amount to save regardless of the price range of the property. But like anything else, not having a professional handle such a large investment, is risky and can have a potentially high liability down the road, if one is not careful.

For most of you who know me, I am all about saving money. However, at the risk of sounding "just like another realtor", this is one area I wouldn't want to skimp on. Mind you, I would definitely try to negotiate commission and what have you - there's no harm in trying. 

Seriously (as if I was not serious on other things), here are points to consider and ask yourself as a Seller or a Buyer:

1. Do you have adequate and reliable sources to obtain information to determine property value?
2. Are you confident enough to represent yourself in negotiating the many aspects of selling or buying the most important investment you probably will have in your lifetime?
3. Are you familiar with the various State and Federal disclosure requirements; the complexities of securing financing, inspections, escrow process, and so on?

And as an important note: if you are looking to purchase an REO or a foreclosed property, you'll find that most lenders hire real estate brokers to handle their properties.

Something to think about, seriously.