Do property owners whom sell their properties on their own (without the aid of a real estate agent) offer a real estate agent whom brings a willing buyer any commission? I've come accross ads that offer a commission, but is this required by them?
2007-02-26 11:54:10 · 7 answers · asked by Triple Nipple 1 in Business & Finance ➔ Renting & Real Estate
No, the owners are not required to offer any commissions to anyone, however, they often do. The reason is that they WANT agents to bring their clients, but agents work for money, so the sellers often add a language like "brokers welcome" to their ad. But if you are selling a place by owner and are approached by an agent who offers to bring a client in exchange for commission, you do not have to accept it. You can just say, "no don't bring your clients, and I will not pay you commission". I don't think it's smart, but it is your right.
2007-02-26 12:05:01 · answer #1 · answered by Alexander K 3 · 0⤊ 0⤋
For Sale By Owners often offer a buyer's agent commission because they know that real estate agents have access to buyers that they don't. They also realize that if an agent is involved, there is little chance of a law suit resulting from legal disclosure requirements. Finally, they realize that agents will bring qualified buyers instead of the normal faire that visit fsbo's, knowing they can't qualify for a loan. If you find a fsbo that is not offering a Buyer's Agent Commission, and they aren't willing to involve an agent - RUN! There is a large probablilty that there is something wrong with the deal. If you've found a property and it isn't offering an SOC (selling office commission), call an agent. The agent can often negotiate the deal for you and ensure your interests are protected.
2007-03-02 05:00:56 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Here's the deal. I sold real estate for many years. If you are a for sale by owner, FSBO, and I had a potential buyer who was interested in your home, I would call and say, I have someone interested in looking at your property and would like to make an appointment. If they buy your home as a result, I would like to get paid a commission of x%, always negotiable. If you said no and I advised my client you are not interested and they came by on their own and entered into a transaction with you, I lose unless I have a contract with the buyer that essentially says, any home you buy, I will get paid. If the seller doesn't pay me, then you as the buyer must pay me. State laws apply.
Point is, if a buying agent represents a legitimate buyer and hooks you up to sell the property, they should could paid for the service. How much? Once again, always negotiable. Good luck.
2007-02-26 12:27:47 · answer #3 · answered by philsky 2 · 0⤊ 0⤋
i'm a Realtor and it sort of sounds such as you signed on with one undesirable real sources agent. You signed a settlement so in case you attempt to purchase a house in the back of her back and you get caught you will owe her some severe money. Reread your settlement. How long is it for? the main a man or woman could initially sign for is two months. That way in the event that they're unhappy with their Realtor they might in basic terms enable the settlement lapse. In Massachusetts each and every Realtor ought to artwork with a broker provider. while you're so displeased with your agent (and that i do no longer blame you) please touch the broker provider in touch (their call could be listed on the settlement) and tell them approximately your journey possibly they might do something. the suited course after it extremely is to register a criticism with the state board of Realtors. you're trapped interior the settlement nevertheless in spite of the undeniable fact that. if it extremely is the case have your criminal expert see what they might do. It in basic terms must be which you would be able to hold off till at last your settlement expires. you should consistently have an criminal expert, notably in case you haven't any longer have been given a Realtor, to write down up the settlement and carry out a call seek to guarantee there are no issues collectively with liens or rights of way with the deed.
2016-11-26 01:05:06 · answer #4 · answered by patti 4 · 0⤊ 0⤋
A seller can do anything they want. The buyer's agent on the other hand must have permission from the buyer if under contract to accept such commissions.
2007-02-26 12:06:04 · answer #5 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
Most that I have encountered do, however, you must ask in advance so that you agree on the terms. I've found that if they are stingy with the commission, then we're likely to have problems with their fulfilling other obligations during the process.
2007-02-26 11:59:37 · answer #6 · answered by Venita Peyton 6 · 0⤊ 0⤋
for sale by owner is stupid, add the price to your house and have the buyer take the hit.
2007-02-26 12:10:38 · answer #7 · answered by Anonymous · 0⤊ 1⤋