Is Real Estate Agent Necessary for Home Buyers?

Disadvantages of hiring a broker

There are certain pitfalls also while hiring a broker, especially when it comes to the cost. Normally, a real estate broker charges 2 to 3 percent of the total value of transaction as his fee. Also, the broker’s commission depends on the transaction value; he may keep the sale price high in lieu of helping you to get a discount on the property you are buying. A broker might also hide issues related to the property, which will land you up in problem later.

A real estate agent should be very active and energetic. But, some agents just list your home on MLS (Multiple Listing Service) rather than courting buyers. If your property is on the market for a long period of time, it will become less attractive. Thus, there will be a decline in the expected price also. Some agents don’t show clients properties that have low commissions.  Fetching a good commission is the one and only aim of most of the real estate agents. So it is better not to have a real estate agent than having the wrong person with you.