I’m my best Realtor.
First, the definition of a Realtor:
A Realtor is a person who acts as an agent for the sale/ purchase of buildings and land for the highest possible price in the shortest period of time.
I’m sure you caught it, there are basically two categories of Realtors. The sellers’ Realtor and the buyers’ Realtor. Both of them usually get a commission that’s based on the sales price.
I like being my own Realtor, and I bought, sold, flipped, renovated and rented many objects. Since I’m a home inspector I know a little bit more about what’s involved with Real Estate than the average person.
So, if you know nothing about Real Estate, do NOT try to buy or sell without good assistance.
What actually are the benefits of doing it on your own?
You know what you want, what kind of home you are looking for, or how much money you want to get in case you’re selling. Most times your heart takes over common sense.
Be careful, and if you have any doubts, ask for help. Direct legal questions to a lawyer or title company. Get a home inspection to find out about the condition of the object; talk to a financial advisor, and of course use the Internet to collect information, like crime rate, job opportunities, future developments, comparisons, and tax; check “for sale by owner”, they have really good tips.
Too many times I’ve heard that you save the high Realtor commission when you do it on your own. That’s possible, but consider that if somebody assists you, you spend less time. They have some expenses to find objects or the right customer and they spend many hours doing this. There are phone costs and driving, if you do it on your own, this is all on you. Most of the available Real Estate is under contract anyway.
How to find possible hidden deals, just read my next post. I’ll tell you what worked for me.
Hi - this is Werner with Home Inspection Tennessee