Posted by Mark-Chi on December 20, 2002 at 11:36:39:
NewGuy,
As a Realtor in IL, can tell you that it’s perfectly legal to present the offer directly to the agent. However, be aware that it’s his/her legal obligation to represent the seller’s best interest. So, if you’re familiar with the purchasing practices and market values, you’re fine. But, if you need guidance in any of these matters, you should use a Realtor on your side. It’s of no cost to you, as the seller pays the commission and, if it’s a listed property, you’re not going to get a better deal w/out one because the seller has to pay the full commission anyway.
Making Offers without an Agent!?!?! - Posted by NewGuy(IL)
Posted by NewGuy(IL) on December 19, 2002 at 14:24:05:
I have found alot of really good homes on Realtor.com after going out to look at them I am ready to make offers. On the site besides the details of the home it also lists the listing agent and their phone and fax number. I wanted to know if it was ok if I faxed my offer myself directly to the listing agent or do I need to find a buyer agent?
NewGuy,
I’m an agent in WV, so admittedly not familiar with the laws in IL. However, in my area it is fine for you to submit your offers directly to the listing agent. In that case they represent and work for the seller, not you. If you have a buyers agent, they represent you, not the seller. Agency laws very from state to state, there may even be a dual agency option. Best thing to do is whenever working with an agent ask them up front “who do you represent, me or the seller?” and “What are your obligations to me?” Regardless of who they work for, an agent should be honest, diligent, fair, and so on.
That aside, it may benefit you to find an agent that you work well with and use them as your buyers agent in the future. If you have one agent working for you, they can be scouting for properties too and let you know when something good pops up.
I also suggest you only work with a Realtor, which is an agent who is a member of the Nat’l Assn. of Realtors which requires the agent to follow a strict code of ethics.