From Realtor to DIY Advocate: Why I'm Teaching Homebuyers to Save $20k+

Written By Nick Aufenkamp

DIY Home Buyer Podcast - Episode 1 Transcript

Introduction

Hey, and welcome to the DIY home Buyer podcast. My name is Nick, your host and the creator of the DIY Homebuyer Academy, and this show is all about home buying. We're going to hit on all things related to home buying within the real estate industry.

My slant is that I want to help you become a DIY homebuyer. That is, I want you to be your own agent and not dependent upon a costly buyer's agent. There's multiple reasons for this, which I'm sure we'll get into more and more as the show goes along.

If you do want to connect with me, all of my links are in the description below and you can get a free guide that I put together: five strategies to save you five grand or more on your next home. Super helpful, useful guide, yours completely free, so do make sure to pick that up.

My Background

I got into real estate about five years ago, first on the investment side. I had a good friend who, by the time he was 30 years old, already had 30 doors to his name. He was working as a real estate agent but was really leveraging his knowledge and experience to help him purchase investment properties. Long term, that was his wealth building and income generating vehicle.

I used him as my agent to buy my first fix and flip and to help me with rental properties, converting basements into Airbnbs, all kinds of fun things like that. But as I was looking at the closing statements, I realized I was paying around 15 grand every time I bought a property in buyer agency fees.

While it looks like that's coming from the seller as a seller concession, the reality is that as the buyer, I'm the one bringing all the money to the table. That $15,000 commission is really being paid through my mortgage with interest over the life of the loan.

Becoming a Real Estate Agent

With my interest in real estate and wanting to save money, I started thinking about how I could represent myself. In 2019-2020, it seemed like the only way was to:

  • Put in 90 hours of coursework

  • Pass the test

  • Get my real estate license

  • Hang that license with a brokerage

So that's what I did. I joined a local new home builder's sales team, which was great because:

  1. They were very reputable

  2. I learned the nuts and bolts of home building

  3. I always had 30+ listings to sell

  4. I worked mainly with unrepresented buyers

The Evolution to DIY Home Buying

After working with the builder and seeing how smooth transactions were with unrepresented buyers, I started questioning the traditional buyer's agent model. Most of my clients were highly competent people who mainly hired agents because:

  1. It's traditionally how real estate has always been done

  2. They felt they lacked access to necessary information

  3. They needed access to contractual documents

But being inside the industry, I realized much of this wasn't true. Tools like Zillow, Realtor.com, and Redfin are powerful resources for:

  • Setting up searches

  • Property research

  • Finding relevant data

  • Running comparative market analyses

The Mission

My goal is to create a cultural movement that pushes toward self-represented buyers being the norm. I want to:

  • Change the real estate industry

  • Transform how we think about purchasing homes

  • Empower buyers to represent themselves

  • Break down information barriers

  • Make home buying more transparent

What is Self-Representation?

Self-representation is the most natural way we buy things. Think about it:

  • When you buy groceries, you make independent decisions

  • When you buy a car, you don't hire a buyer's agent

  • You research, test drive, negotiate, and review documents yourself

The same approach can work for buying homes. As a self-represented buyer, you:

  • Handle the pre-approval process

  • Research areas and neighborhoods

  • Set up property searches

  • Schedule tours

  • Review properties

  • Handle contract documents

  • Maintain schedules and deadlines

  • Manage the closing process

Why Choose Self-Representation?

  1. Financial Savings

    • Save $15,000-$20,000 per transaction

    • Savings compound with multiple properties

    • Could fund another down payment after several purchases

  2. Independence and Empowerment

    • Take control of major financial decisions

    • Develop negotiation skills

    • Build confidence

    • Gain valuable experience

  3. Industry Evolution

    • Real estate is moving in this direction

    • Traditional buyer's agent model has inherent flaws

    • Commission-based incentives can misalign with buyer interests

    • More transparent and predictable process

Connect and Learn More

  • Subscribe to the show

  • Like and leave comments

  • Share with friends

  • Get the free guide: "5 Strategies to Save $5,000+ on Your Next Home"

  • Book a call to explore next steps

  • Join the movement for better home buying

Transcript from Episode 1 of the DIY Home Buyer Podcast with Nick

Nick Aufenkamp
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Misconceptions & Misinformation About Buying a Home WITHOUT a Buyer's Agent | Ep. 2