These days, we’re hearing from a greater number of younger buyers who believe they can handle the home buying experience entirely on their own, with the help of the Internet. Often, these buyers (mistakenly) believe they’ll save money by purchasing a home without an agent, because the seller will only pay a half commission, instead of the full commission.
That just shows ignorance of the process. Sellers who have listed their homes generally pay between 4 percent and 6 percent of the sales prices as a commission to the listing agent. The listing agent, in turn, typically pays the buyer’s broker around half of the total commission. No buyers agent means the listing agent doesn’t have anyone to share in the commission. So, unagented buyers unwittingly allow the listing agent to pocket the entire commission.
Unagented buyers make other mistakes in the process that can cost them money, like not