How do buyer's agents make money on the closing of a house? Especially if its FSBO?

Question

I am working with a buyers agent. I came across a house that is for sale by owner. Its not a MLS listing. How do I involve my agent in this process? Or should I?

I have not signed a contract with my agent as of now.

Answer 1

If it is a fsbo, you can ask the seller before you show the house if he or she will agree to a buyers agent commission, and if so there is a form you can fill out for them to sign about commission. Always have in writing. If its not a fsbo, most agents will cobroke and split the commission. If they are not on the mls, use the form again for this transaction also. And yes have your agent involved in this process.

Answer 2

If you read your buyers rep agreement that you signed with your agent, it states that commission is due on any property you buy while he/she is representing you. Normally, that would be paid by the seller but, if you buy a FSBO you would owe your agent the commission set forth in your contract. More often than not, FSBO sellers are more than happy to pay agents a commission because they handle all of the paperwork etc. and it's worth having that expertise. GOOD LUCK!

Answer 3

Normally the seller pays the commission. Which is split between seller and buyer agents. If you want your agent involved in a for sale by owner, to make sure paper work is right, etc. Then you will probably have to pay the commission.

Answer 4

If they are under contract with that agent they buyers have to pay them. I don't think the seller is entitled to pay them anything though if it's FSBO.

Answer 5

call and ask if the % to a buyer agent, if they say no then you would not get a commission for that transaction