Can You Buy a House Without a Realtor? Here’s What You Need to Know
Can You Buy a House Without a Realtor? Here's What You Need to Know
📹 - Watch DC’s short Youtube video Why going solo might cost more than you think.
Technically, yes - you can buy a house without a realtor. But should you? That's the real question.
Without a realtor:
- You might overpay. Without deep market knowledge, hidden costs slip through, comparables get missed, and emotional bias can skew your judgment.
- You're left to figure out contracts, inspections, and negotiations on your own. One small misstep could cost thousands - or sabotage the whole deal.
So how do you protect yourself?
- Hire a buyer's agent who works for you, not the seller. They bring expertise, advocacy, and negotiating skill.
- If you’re determined to go solo, at least hire a real estate attorney to comb through all documents before you sign.
A great realtor doesn't just find your home - they protect your investment. Skipping them may save commission dollars, but it could cost you your peace of mind.
Choose wisely - your future home deserves it.
Why Going Solo Can Be Riskier Than It Looks
Savings Often Don't Materialize
Many believe they'll save by skipping the realtor, but in most cases, the seller pays both agents' commissions, typically 5 - 6% of the sale price. As a solo buyer, you’re not pocketing that money - you're just giving it all to the seller's agent.
You Lose Pricing Power
Without MLS access or agent savvy, it's easy to overpay or accept poor terms. Buyer's agents flex their experience to negotiate better deals or seller concessions that often outweigh commission costs.
The Transaction Is Legally Complex
Real estate contracts are dense and jurisdiction-specific. A misstep - from overlooked contingencies to missing disclosures - can upend the sale or expose you to liability.
You'll Miss Insider Knowledge and Network Access
Agents bring:
- Familiarity with local trends, pricing, neighborhoods, and timing strategies
- A vetted network - inspectors, lenders, appraisers, movers, attorneys
A Lower Sale Price May Also Impact You
Homes sold with an agent reached a median price of ~$400K, versus $300K for FSBO sales - meaning agent-guided buyers often get better value.
When Going Solo Might Work (If You're Very Experienced)
DIY homebuying can work when:
- You've purchased many homes before and know the process inside out
- You're buying from someone you know
- It’s a new-build, often sold directly by builders
But in these cases, you still need to be extremely meticulous - and consider legal guidance.
The Changing Real Estate Landscape: Commission Reforms
In July 2024, a legal shift changed how commissions are handled:
- Buyers now must negotiate fees and sign representation agreements upfront
- Sellers no longer automatically pay buyer agent fees
- The move aims for more transparency and flexibility - but it introduces more complexity for buyers to navigate
Building Your Team - Even If You Go Solo
Going at it alone? You still need experts:
- Real estate attorney - handles legal contract scrutiny
- Mortgage broker - helps secure favorable financing
- Home inspector, appraiser, title/escrow officer - safeguards and specialists you'll need
Summary Table: Agent vs. No Agent
| Factor | With Realtor | Without Realtor |
|---|---|---|
| Cost | Commission usually covered by seller | No broker fee - but potential hidden costs |
| Pricing | Market-informed pricing, better negotiation | Risk of overpaying or poor terms |
| Legal Support | Guided through contracts and contingencies | Higher legal risk - needs attorney |
| Network Access | Trusted pros and fast info | You arrange everything manually |
| Stress Level | Lower - handled by professional | Higher - you manage every detail |
Final Take
Yes, you can buy a home without a realtor - but unless you’re a seasoned pro, you may end up paying more with more risk. A skilled buyer's agent still offers the strongest chance to protect your investment and your peace of mind.
If you need help finding the right agent, attorney, or broker to guide you, Summit Lending has trusted picks to recommend.
Let us help you protect your biggest investment - your home.
📲 Talk to a Mortgage Expert 816-268-4025