Why use a buyer agent?

Since about the time of the NAR settlement, questions comes up about the use of a buyer agent. With buyers finding properties online, what is an agent bringing to the table?

Here’s a version of that question and some of my answers.

Am I dumb to buy a home without an agent?

If I’m selling my house, I want an agent.

But buying – why do I need one? Zillow to search for listings. @somewherehiring assistant to plan tours

Thinking of just paying flat fee $10k for paperwork vs. $100k+ agent commission”

To answer your question, I don’t think dumb is the word, but the way you phrased it makes it seem you underestimate the cost of transaction activities. A lot of that is absorbed by making the payment contingent on closing. Without that, you must pay no matter the outcome.

To whom will you be paying the flat fee for paperwork? (If you pay for paperwork, every offer you make is billable…)

If you don’t have an agent, you don’t have the right to use the various RE organizations' offer forms. Are you going to pay a lawyer to draft you your offer? What happens if the seller refuses to read your offer because now they too have to hire a lawyer to interpret the offer?

Another point, you expect someone to accept a flat fee for their service, but take on a liability for the transaction outcome which is proportional to the purchase price - a lot of money for most people. Who do you expect will be taking you up on that proposal?

In conclusion, while I do think that it is possible to represent yourself, it is not necessarily the best idea if you lack experience, or if the transaction is complex, or if you are very much invested in the outcome.