Subscribe
Share
Share
Embed
Thinking about buying your first home but overwhelmed by mortgage news, rising rates, and confusing headlines? The Mortgage Research Network Podcast is your no-fluff, data-backed guide to the housing market. We break down the latest trends, stories, and research from MortgageResearch.com into simple, clear insights you can actually use. Hosted with first-time buyers in mind, each episode helps you understand what’s happening in the market and how to use that knowledge to make smarter decisions, from locking in a great rate to choosing the right time to buy. Empowering you with the facts, confidence, and tools to become a homeowner one episode at a time.
Welcome to the Mortgage Research Network Podcast. We bring you the latest in mortgage and real estate news 3 times a week. The audio is AI generated, but content is fact-checked by me, Tim Lucas, editor of MortgageResearch.com and a former mortgage professional. And with me is Craig Berry, a mortgage originator with 25 years experience. Craig, real estate agents have been getting paid the same way for over 100 years, but a landmark court ruling in 2024 turned that entire system upside down. Let me tell you why this matters to anyone thinking about buying a home.
Well that's fascinating timing because the National Association of Realtors just reported that even with these massive changes, 86% of buyers are still choosing to work with agents. What's driving those numbers?
You know what's really interesting about that? Even though buyers might now have to pay their agent's commission directly - we're talking 2-3% of the purchase price - most sellers are still willing to cover those costs in today's market.
Hmm... but that raises an important question - if you might have to pay thousands for an agent yourself, why not just go it alone?
Oh man, well we took a look at the agent vs DIY question on Reddit. The advice typical home shoppers give is eye-opening. There was this one first-time buyer who almost lost their dream house because they just sent an email saying "I want to buy this house" - they had no idea about proper offer procedures.
Oh I've seen similar threads. On one, a listing agent said they scrutinize offers from unrepresented buyers much more heavily because it usually means more complications throughout the entire process.
Exactly! And here's something most people don't realize - without an agent, you might not even be able to get in to see the houses you're interested in. Properties are often going under contract before the open houses even happen.
Though I did see one clever workaround where someone managed by just attending open houses and working directly with selling agents.
But that's actually a perfect example of what can go wrong - the selling agent is legally required to work in the seller's best interest, not yours. And speaking of protecting your interests, let me tell you about this incredible negotiation I heard about. A buyer's agent managed to get the seller to pay all closing costs, provide a home warranty, AND write a $500 check specifically for a chimney inspection. That's the kind of value that's hard to replicate on your own.
You know what's really striking about that? Most people only buy a house every 12 years on average, while agents do this day in and day out.
Right! And when you break down everything an agent actually does - market analysis, property access, offer preparation, negotiation strategy, inspection coordination, repair requests, closing timeline management - it's actually a huge list.
Though I have to mention, I did come across some success stories from people who managed without an agent. One person created their own support team with a real estate attorney, mortgage broker, and independent inspector.
That's interesting because it speaks to this growing trend of people thinking they can just replace an agent with a lawyer. But here's the thing - several professionals pointed out that attorneys and agents serve completely different functions. They're not interchangeable.
Well that makes sense - a lawyer can handle the legal paperwork perfectly, but they're not going to help you figure out if the price is right for the neighborhood or notice that the water heater is ancient.
And here's something really counterintuitive - having an agent might actually make your offers more competitive. Sellers often prefer working with represented buyers because they know the process will go more smoothly.
So what you're saying is that having an agent might actually help you negotiate their own payment as part of the deal?
Exactly! And isn't that kind of perfect? An agent proves their value by negotiating their own compensation as part of a larger package of terms that benefit you. But you know what really stands out to me in all of this? The importance of finding the right agent. Several people emphasized interviewing multiple agents and finding one that matches your specific needs. It's not just about whether to use an agent or not, but about finding the right support system for your situation.
That makes so much sense. And I suppose that's really the bottom line - understanding what you need and making sure you have the right resources in place, whatever those might be.
Absolutely right. When you're making what's likely to be the biggest purchase of your life, taking the time to get it right seems pretty important. Whether that means paying for professional help or doing it yourself depends on your specific situation and capabilities.
That's about all the time we have for this topic, but we go into even more detail on the site. To learn more, type real estate agent reddit in the search bar at Mortgage research.com. We'll see you next time on the Mortgage Research Network Podcast.