If you plan on buying a home and you plan on representing yourself, think again. Many buyers these days are very internet savvy and do a great deal of research online before contacting anyone about buying a house. However, this may not get you the deal you expect.
A number of people have discovered Zillow, which estimates value of homes. People have also discovered county tax appraisal district sites. County Assessor sites may show the assessed value that the taxing authority puts on a home to assess property taxes. Armed with this information, some buyers think they are pretty prepared to negotiate with a selling agent. What they dont realize is that these sites are frequently not very accurate compared to the actual market value of a home.
Many unrepresented buyers also assume that a home may have a 5% to 7% selling commission built into the list price, assuming that the buyers agent will be paid around half of that to bring a buyer. So unrepresented sellers go to the listing agent and state that they know there may be around a 3% reduction right off the top because they do not have a Buyers Agent. This also happens when some unrepresented sellers to...
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