When to Ghost Your Realtor: The Pros and Cons of Buying Directly from a Homeowner

‘We’ve seen about 20 homes, and put in two offers that didn’t work out for various reasons.’

Should You Ghost Your Realtor When Buying Directly from a Homeowner?

Many potential homebuyers might be tempted to purchase a property directly from the homeowner, bypassing the real estate agent to save on commissions. However, is it ethical to ghost your realtor in such a situation? Let’s explore the pros and cons of buying directly from the homeowner and how to handle the situation with your realtor.

Benefits of Buying Directly from the Homeowner

Buying a property directly from the homeowner can have several advantages:

• Lower price: Since the homeowner doesn’t have to pay a commission to a real estate agent, they may be more willing to negotiate on the price.
• Quicker transaction: Without the involvement of a real estate agent, the transaction process can be faster, as you deal directly with the homeowner.
• Direct communication: Communicating directly with the homeowner allows you to ask questions and get immediate answers about the property.

Risks and Disadvantages of Buying Directly from the Homeowner

While buying directly from the homeowner can have some benefits, there are also risks and disadvantages:

• Lack of professional guidance: Without the expertise of a real estate agent, you may miss crucial steps in the home buying process or overlook potential issues with the property.
• Legal complications: A real estate agent helps ensure that all legal paperwork and requirements are met during the transaction, reducing the risk of legal complications.
• Negotiation difficulties: Negotiating directly with the homeowner can be challenging, especially if emotions are involved. A real estate agent can provide a buffer and handle negotiations professionally.

How to Handle the Situation with Your Realtor

Ghosting your realtor is not recommended, as it can lead to a negative professional relationship and potential complications in the future. Instead, consider the following steps:

1. Inform your realtor about your intentions: Be honest and upfront with your realtor about the situation. They may still be able to offer guidance and assistance during the transaction.
2. Discuss compensation: If your realtor has spent a significant amount of time and effort assisting you in your home search, consider offering compensation for their services.
3. Consider using your realtor as a buyer’s agent: Even if you buy directly from the homeowner, you can still use your realtor as a buyer’s agent to help with the transaction. This may involve paying a reduced commission or a flat fee.

Conclusion

While buying a property directly from the homeowner can offer some benefits, it’s essential to consider the risks and disadvantages involved. Ghosting your realtor is not the best course of action; instead, maintain open communication and consider compensating them for their time and effort. A real estate agent can provide valuable guidance and expertise throughout the home buying process, even when purchasing directly from the homeowner.

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Orginal article: Link To Article – provided by Kansas City Realtors