Legal Question in Real Estate Law in Massachusetts

Re: Home Buying without a Realtor

The buyer's agent is a relatively recent phenomenon in Massachusetts.

When a seller lists a house with a broker, the seller enters into a contract with the broker and becomes obligated to pay the broker a certain percentage of the selling price when the sale occurs. That percentage may be 5% or 6% or whatever the seller and the broker agree on. The broker who has the listing may agree to share the listing with other brokers, and split the commission on the sale. You, as buyer, have no say as to what the percentage will be.

Traditionally in Massachusetts, a buyer worked with real estate agents who were agents of the seller. Unless conditions have changed more than I had realized (and maybe they have!), that is stil the norm. You call up an agent who has advertised a house and the agent shows you the house and maybe some other houses. The agent is working for the sellers, but wants to make the sale so as to get the commission from the sale. The agent should not be charging you anything.

I don't really know what the advantage is to have a so-called buyer's agent. It sounds like a mere gimmick to me.

In general, it is good to have a real estate agent in the picture, since the agent is an experienced professional who is supposed to adhere to certain standards as a condition of being licensed by the state. A real estate brokerage is also a potential party to sue in the event of an illegal misrepresentation of fact, not that the situation is likely to arise.

You are correct that you should have a lawyer represent you in connection with the purchase and sale agreement, and probably for the offer as well.