I have not signed anything with the real estate agent (he's only showed us 2 houses). The house was on the market, did not sell, so they took it off and may relist in the spring. We can't quite afford the house, but think they may accept a lower offer if they don't have to pay real estate fees.
2007-11-17 08:52:16 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The homeowners still need to pay both of the agents involved as you saw the home while it was listed.
2007-11-17 09:05:15 · answer #1 · answered by Landlord 7 · 3⤊ 0⤋
Most real estate listing agreements have a provision that it the house is sold within 180 days of the end of the listing to someone the agent has shown the house to, the sell MUST pay the agent a commission.
2007-11-17 17:01:09 · answer #2 · answered by Anonymous · 1⤊ 0⤋
How unethical of you!
You would never have known about the house if the agent had not shown it to you.
The agent at least earned a fee of 1%, and you and the seller should split it.
Warning to agents: If you want to show a house that is off market, get the sellers to sign a 1 month listing, then show it. It will save you from unethical people.
2007-11-17 17:09:51 · answer #3 · answered by Anonymous · 2⤊ 0⤋
If the agent showed you the house during the course of the active listing, the sellers will have to pay the commission. Laws vary by state. In my state, a sale to a buyer who was shown the house during the active listing incurs a commission payment for one year after the listing ended.
2007-11-17 18:57:35 · answer #4 · answered by acermill 7 · 1⤊ 0⤋
If you do offer on the house directly to the owners, it would be morally correct to pay the agent the usual fee that agents in the area get for representing the buyer ["Buyer's Agent"].
In my area, I think that is 1% of purchase price.
Assuming, of course, that the owenrs do not pay the agent themselves.
***
You wouldn't want to weasel out after the agent has been so kind and actually helpful, would you?
2007-11-17 16:59:47 · answer #5 · answered by Spock (rhp) 7 · 1⤊ 0⤋
The real estate agent found the house for you. He deserves to get paid for his efforts and the sellers are probably obligated to pay him according to their contract. Your inability to afford the house does not mean that he should not get paid.
2007-11-17 20:52:27 · answer #6 · answered by mefrancis 2 · 1⤊ 0⤋
Yes, does not have to be listed, private transactions are done every day. When realestate is listed it is to let agents know they will get part of the commision if they sell it. Ask your agent how they are paid, you or seller.
2007-11-17 17:02:31 · answer #7 · answered by jim b 1 · 0⤊ 0⤋
Nice that you want to cut your Realtor out of their commission, after they found the house for you.
If you haven't bought a house before, knock yourself out..you'll find out really quick why people need professional representation.
2007-11-17 17:37:28 · answer #8 · answered by Expert8675309 7 · 2⤊ 0⤋
Look up the definition of "procuring cause."
2007-11-17 19:32:40 · answer #9 · answered by Anonymous · 1⤊ 0⤋