It is especially important to have your own agent when buying a home that does not have one (For Sale By Owner). Most sellers are not experts on various laws and regulations that pertain to real estate, having a competent agent involved is a benefit to both the buyer and the seller. Fortunately, most FSBOs are also aware of this, and are willing to work with agents. Typically they choose not to use an agent to save money however most of them know that prospective buyers are probably already working with a Realtor and therefore they are prepared to co-broke, meaning they’ll still pay us. So, you can still get all the benefits of buyer representation on a FSBO at no cost to you.
FSBO’s have a 75% chance of getting sued to make 12-16% less on the sale of their home.
86% of FSBOs end up using a real estate agent. Of those 14% that sell it themselves, they make 12-16% less on the sale in order to save 6% for having an agent. 75% of all real estate related lawsuits involve an unrepresented party. Source: NAR
