- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: I'm selling a condo FSBO and the buyer's realtor has contacted me
Posted on 6/10/16 at 12:25 pm to Cold Cous Cous
Posted on 6/10/16 at 12:25 pm to Cold Cous Cous
touché 
1
Posted on 6/10/16 at 1:02 pm to boosiebadazz
quote:
how about from the party who actually hired them and invited them to participate in this transaction
If an offer was made to you with no mention of an agent, I would not pay a dime. There may well be an issue between the agent and the buyer, but that does not involve you.
If an offer has not yet been made, and an agent is involved, I would only accept a higher offer that covers the agent fee. That way, your bottom line is covered.
But you have to be prepared that the buyer may walk.
I get where you are frustrated but you have some options here.
Posted on 6/10/16 at 2:58 pm to LSUFanHouston
I mean at the end of the day if the buyer walks having to pay agents commission on a 110k property, assuming they are financing this at 3%, that 3k is what, $15/mo for life of loan? Tell buyer if they walk away over .50 cents a day due to the fact they felt they needed a realtor when no compensation was expressed or implied, they probably aren't the right buyers for the property.
Or kick realtor 3k and have peace of mind knowing they have to get to closing to get paid so they will make sure buyers close.
Or kick realtor 3k and have peace of mind knowing they have to get to closing to get paid so they will make sure buyers close.
Posted on 6/10/16 at 6:28 pm to baldona
quote:
Just because the realtor didn't do all the work doesn't mean they don't deserve your cut.
What?
quote:
Most FSBO are bitter sellers too cheap to pay the cost of business to obtain their maximum price.
You sound like a bitter realtor who is whining because FSBO, Zillow, etc are taking away your "earned" commissions. quote:
The realtor easily could of instructed the buyer to make the contact knowing that.
Then what the frick is the point of the realtor if the buyer is doing the work? To hold their hand? Great, then let the buyer pay the commission.
He's selling the property FSBO and it sounds like it's just been listed so he doesn't need to pay an agent who inserted themselves into this transaction. There are plenty buyers, like me, who know wtf they are doing in a real estate transaction and I would rather buy a property direct from someone and negotiate the price down since I don't need an agent.
OP, when I sell a property FSBO I say on the listing no fee to be paid to agent, just some advice. If your property hasn't sold in a while then you can add a fee to be paid to buyer agent and can attract more buyers.
Posted on 6/10/16 at 6:32 pm to ItNeverRains
quote:
I mean at the end of the day if the buyer walks having to pay agents commission on a 110k property, assuming they are financing this at 3%, that 3k is what, $15/mo for life of loan? Tell buyer if they walk away over .50 cents a day due to the fact they felt they needed a realtor when no compensation was expressed or implied, they probably aren't the right buyers for the property.
Or kick realtor 3k and have peace of mind knowing they have to get to closing to get paid so they will make sure buyers close.
Good post.
Posted on 6/10/16 at 9:00 pm to Sho Nuff
quote:
Then what the frick is the point of the realtor if the buyer is doing the work? To hold their hand? Great, then let the buyer pay the commission.
He's selling the property FSBO and it sounds like it's just been listed so he doesn't need to pay an agent who inserted themselves into this transaction. There are plenty buyers, like me, who know wtf they are doing in a real estate transaction and I would rather buy a property direct from someone and negotiate the price down since I don't need an agent.
OP, when I sell a property FSBO I say on the listing no fee to be paid to agent, just some advice. If your property hasn't sold in a while then you can add a fee to be paid to buyer agent and can attract more buyers.
Actually yeah most people want a realtor there as a professional for liability assistance. No I'm not a realtor, I'm an investor. I hate realtors, but the fact of the matter is in most real estate transactions they are a necessity. The OP went on a diatribe leaving out a ton of details like how long he has been listed for anyone to give him legit help.
Just because you sell FSBO does not mean you get out of the buyer's 3%. Just because you as the seller is a lawyer with buddies doesn't mean the buyer is. What don't you people understand about the cost of business? OP just walk, please. Seriously. Its a $110k property which is laughable to complain about $2500 in costs to sell. You are going to let this deal walk away and your next buyer is going to have a realtor under the same circumstance and its going to cost you closing fees additionally for another $3k.
Again, commission base income is not always fair. For every easy client there is a difficult one. For every sale that takes 1 day led by the clients there is a sale that take s a year that you hold a hand. I've been there, not in real estate but in a commission based business.
This post was edited on 6/10/16 at 9:05 pm
Posted on 6/10/16 at 9:14 pm to baldona
quote:
You are going to let this deal walk away and your next buyer is going to have a realtor under the same circumstance
Not to mention that the condo is in Louisiana and several markets here are dying a slow death the longer O&G is down. Laffy area has lead the nation in various months since September of last year in 90-day lates/pre-foreclosures when compared to the previous year. In October it was up over 400% vs 2014 which is insane.
Also, it is a known fact that your most willing and qualified buyers come within 30 or so days of your house hitting the market. There are tons of horror stories of people in markets like what LA is dealing with now that balked at their first offers to save a few thousand only to still have the house a year later and now having the property listed for less than the price the originally let a buyer walk over.
Posted on 6/11/16 at 12:52 am to boosiebadazz
strange thread.... this is all pretty simple... since you aren't bringing any money to the table, you aren't paying anyone anything... Just think of the realtor based offer as a lower offer and adjust your decision accordingly....
Posted on 6/11/16 at 12:00 pm to baldona
The numbers don't really matter as I have a ton of equity and will be fine either way. I'm motivated to sell and I'll get the deal done.
It was more the principle of how it went down, and despite your bubbly personality, you've yet to convince me that I'm wrong in being a bit put off in how's it's developed thus far.
It was more the principle of how it went down, and despite your bubbly personality, you've yet to convince me that I'm wrong in being a bit put off in how's it's developed thus far.
This post was edited on 6/11/16 at 12:08 pm
Posted on 6/11/16 at 12:11 pm to boosiebadazz
The main issue that I've had with this thread is that, as of yet, no one has asked you to pay anything. The agent hasn't asked you for a fee. The buyer hasn't asked you to pay her fee. You got all wound up and just assumed it all.
Posted on 6/11/16 at 12:13 pm to Jag_Warrior
I'm still not sure I was wound up. I just asked a simple question. You're right in that she hasn't asked me to pay anything, but unless she's working on a flat fee from him, her commission is going to play a role in the negotiations of the price. If not explicitly from my side, it will on his side, and that will affect me.
And I would have no problem if she contacted me first from the get go. Was just strange speaking with him a few times and then she jumps in.
And I would have no problem if she contacted me first from the get go. Was just strange speaking with him a few times and then she jumps in.
This post was edited on 6/11/16 at 12:16 pm
Posted on 6/11/16 at 1:30 pm to boosiebadazz
quote:
So it's fricking extortion?
Maybe just a tad wound up?
If you get a written offer in hand, I'd still be curious to know how it plays out though.
Posted on 6/12/16 at 9:36 am to boosiebadazz
Add the cost of the commission to the selling price genius.
Problem solved.
Problem solved.
This post was edited on 6/12/16 at 9:37 am
Posted on 6/13/16 at 11:01 am to Jag_Warrior
it depends if the buyer signed anything naming her as their agent. If so the agent would have legal right to get their commission from the buyer.
Posted on 6/13/16 at 11:13 am to boosiebadazz
quote:
Was just strange speaking with him a few times and then she jumps in.
Not trying to be humorous, but maybe after speaking with you a few times the buyer felt representation was necessary.
The simple answer is full disclosure. The next time you speak to either notify them that no compensation to agents were expressed or implied. If buyer wishes to finance realtors commissions into purchase price that is fine assuming it appraises for inflated sales price.
Don't go all Big Worm on principalities and lose a sale.
This post was edited on 6/13/16 at 11:14 am
Posted on 6/13/16 at 11:28 am to bobaftt1212
Yes, that goes without saying. But that has nothing to do with the OP, who is the seller.
Posted on 6/13/16 at 12:41 pm to ItNeverRains
I did shoot him an email from my work account which disclosed that I'm a lawyer, but our convo was very surface level about bedrooms and bathrooms and whatnot.
I'm not going to lose the sale over it; it just was a strange situation so I wanted to see how off-base I was.
I'm not going to lose the sale over it; it just was a strange situation so I wanted to see how off-base I was.
This post was edited on 6/13/16 at 12:43 pm
Posted on 6/13/16 at 1:08 pm to boosiebadazz
quote:
I've spoken with her buyer directly multiple times, then I get a voicemail from her that she's his realtor and needs some info from me.
The same shite happened to me. I was talking to a potential buyer and I had even written up the buy/sell agreement and it was in the buyer's hands to sign.
Then the buyer's "realtor" calls me as her "agent". I told her that me and the buyer had everything worked out. I immediately called the buyer and told her that if the realtor called again the sale was off. That buyer ended up not being a very "qualified buyer" anyway in the end....I made a cash deal a week later.
ETA Just a little background here....I didn't have to sell the house when I did...it was just a good time to sell if I could. I knew I didn't want to deal with a realtor and was willing to lose that sale over it....it is obviously different if you don't have that flexibility.
This post was edited on 6/13/16 at 1:09 pm
Page 4 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News