Home Buyers Unrepresented By Real Estate Agent

It is not easy to understand Princeton real estate market , where things such as real estate prices could be quite confusing for Princeton area home buyers and even for some real estate agents. This is difficulty is not new, but there are other developments that I have not seen much before. I am talking about buyers who are looking to buy Princeton home without a NJ real  estate agent  representation.

Such home buyers research Princeton area homes for sale on the Internet. They select properties to see, and contact listing agents of these properties. These buyers do not want to be represented by the listing agent (as a dual agent) or by a buyers agent. Their reason to not use the buyers agent is the following. They want the listing broker to reduce the commission they charge the seller by the amount that otherwise would have been paid to the buyers agent. The net effect in the mind  of these buyers, is that they can offer less for a Princeton home for sale, and thus they would save a lot of money.

Assuming that the listing broker agrees to such an arrangement, what are the implications for these buyers? Is this a strategy for saving big or big losing?

What is required for this strategy to possibly work ( assuming these buyers have legal representation to protect their legal rights)? The short answer: when a lot more real estate human intelligence becomes publicly available on the Internet or other sources. This is not the case at the present time.

Tips for NJ home buyers

Here is a list of requirements and information home buyers without NJ real estate agent representation would need.

1. The opinion on the price of the home to be available from a public source. There is no such source now. Zillow, Trulia, Realtor.com, do not provide information on what makes one home more or less valuable then the other, or why a particular house on the same street sold for much more, or much less.

2. The opinion on the amount of the offer that will produce the positive outcome for the buyer is available from a public source. There is no such source now.

2. The understanding of the inspection results for each property and the implications for the buyer are available from the public source. There is no such source now.

3. The negotiation tactics for each property are available from a public source.There is no such source now.

4. The ability to deal with the unexpected issues that can arise at any point in the transaction, including closing is available from a public source. There is no such source now.

5. Buyer without real estate agent representation, are not an equal match to the seller, with such representation.

Without needed intelligence available on the Internet, or from other public source, the buyers would have to do the best they know how. I am concerned it may not be "good enough", and that the potential "savings" could easily translate into big losses - financial, emotional, or both.

There are people who choose to represent themselves in court. Some of them are facing imprisonment. I am not sure how many win. I know many lose. In this country its illegal to practice law without a license. Its perfectly legal, though, to put oneself in jeopardy, doing it on their behalf.

The same holds true for real estate; thankfully for the buyers - their liberty is not at stake. 

"Princeton Real Estate" provides information, previously not available to home buyers and sellers. It is only available here and you can study it at your own time and convenience. It could enhance your knowledge and make your search for a Princeton home easier. It would not replace competent NJ real estate agent's representation.

Princeton NJ Mercer County Real Estate Market Housing Report -First Quarter 2008

Princeton NJ Real Estate Mercer County homes -Housing Market Statistics March 2008

Princeton NJ real estate Mercer County - Buyer Information

Princeton NJ real estate Mercer County -Seller Information

Princeton Mercer County NJ Real Estate - Secrets to selling your house like an agent.

Princeton Mercer County NJ Real Estate -Secrets To Buying A Home Like A Realtor

Princeton Mercer County NJ Real Estate Sellers- 3 Things That Sell Houses Now

Princeton Mercer County NJ Real Estate - 5 Deadly Mistakes When Selling Your House

Princeton Mercer County NJ Real Estate - Prices of Houses Sold in Princeton -January 2008

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