Q: We haven?t signed with our potential Realtor yet, but she did come to our house with a stager who gave us tips, and sent us some comps recently. The photographer is supposed to take pictures soon, then we were planning on listing with her. But now a neighbor?s friend wants to buy our house! Do we owe the potentially Realtor anything? I do feel bad but it would save us a lot of money!
?Anonymous, West Chester, PA
A: If you didnt sign anything yet, then you dont have any obligation. If you did, you will have to refer to the agreement. I would talk it over with your agent.
Matt Laricy is a Realtor? with Americorp Real Estate in Chicago, IL.
A: Dear Westchester, PA
Finding a buyer for your home is great and if you two have negotiated a price that is satisfactory to you both, perhaps you may still need this Realtor?s assistance to get all the correct forms, inspections, title issues, etc. done so you can have a smooth closing. Perhaps you can work out a flat fee payment to the Realtor, shared by both you and neighbors to have this done.
JoyceM
Joyce Mitchell is a Realtor? with Mitchell & Associates Real Estate in Bigfork, MT.
A: Owe legally? Sadly; no. Morally, it would be nice if you gave the Realtor something. However, you should note that you will probably lose money selling on your own. Sellers are not the best negotiators when it comes to their own homes. Nationally tracked sales figures indicate that seller who sell their own homes (aka FSBO?s or for sale by owner) get 10% less than sellers represented by a Realtor. So?unless your Realtor charges 10% or more (unlikely), you will probably leave $$ on the table. Best answer, use the Realtor.
Mark Bergman is a Realtor? with Bergman Real Estate in North Creek, NY.
A: If you have not signed a listing contract with the Realtor then you do not owe them anything. What you should attempt to do is have the neighbor in question excluded from the buyers that would earn the Realtor a commission. There is usually a spot in the contract that allows for this.
This way you can still open your house up to the market and give it full exposure and see what kind of interest is out there for the home. In the meanwhile, if your neighbor changes their mind about buying, you have minimized the down time off the market.
Adam Aguilar is a Realtor? with Reliantra in West Toluca Lake, CA.
A: It really is all about the words in the agreement you signed. It probably says you have to pay a commission even if you find the buyer. But you might be able to work out a reduced rate if you can save the agent some marketing costs. My experience is that these neighbors often have a very different idea of the value of the house or they make unreasonable inspection demands, so you may end up having to put it on the regular market anyway. I am an excluisve buyer agent and we look at FSBO homes a lot. They hardley ever seem to work out, though, because the seller is unable to manage the transaction details without the help of an agent.
Linda Walters is a Realtor? with Sage Realty LLC in Wayne, PA.
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Source: http://rock-n-rollrealestateagent.com/do-we-owe-a-realtor-money/
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