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FSBO - how much to offer buyer's agent
Posted on 3/15/17 at 8:49 pm
Posted on 3/15/17 at 8:49 pm
I'm selling my house FSBO and have been approached by a buyer who's agent said they should check that I was ok with an agent being involved. I know they're really asking if I will pay a commission. I'm not against it but it won't be the standard 3% ($10k). If they bring a strong offer I think 1.5% is decent, especially because I have a suspicion the potential buyer found the house on their own. Any OTers have experience negotiating commission with buyer's agents?
10
Posted on 3/15/17 at 8:51 pm to monteandmakers
Wait wait wait? So the buyer approached you personally? The agent doesn't bring anything to the table in that case. You two can reach a deal together and no agent getting paid for showing up and being worthless. win/win.
Posted on 3/15/17 at 8:52 pm to monteandmakers
Price the commission into your negotiations.
Posted on 3/15/17 at 8:52 pm to monteandmakers
1.5% minimum.
If you are struggling with it go with 3%
If you are struggling with it go with 3%
Posted on 3/15/17 at 8:53 pm to monteandmakers
Tell the buyer if you have to pay their agent a commission that your asking price is firm. If buyer is willing to work with you without an agent, you can come off a few grand from asking price or use that money to pay some of their closing costs
Posted on 3/15/17 at 8:55 pm to monteandmakers
Just went throught this...
2%, but little to no negotiations on price.
2%, but little to no negotiations on price.
Posted on 3/15/17 at 9:12 pm to monteandmakers
You did FSBO because you didn't want to pay agent fees. They got an agent on their end, so I don't see how that affects you. People aren't going to be swayed away from the house they want because their agent says "no, I won't get a commission if you buy that one". At least not if they really want the house.
I'm actually not familiar with their being a contract between a buyer and their agent (only time I've had that scenario is when and agent was provided by my employer). I know I didn't have one. So if I bought on my own, I bought on my own....no biggie. Not the same when I sold...I was obligated to my agent through our contract (this was also provided by employer, but I still had a contract).
I'm actually not familiar with their being a contract between a buyer and their agent (only time I've had that scenario is when and agent was provided by my employer). I know I didn't have one. So if I bought on my own, I bought on my own....no biggie. Not the same when I sold...I was obligated to my agent through our contract (this was also provided by employer, but I still had a contract).
Posted on 3/15/17 at 9:20 pm to monteandmakers
I found my house that was fsbo. I called my agent thanked her for her help and told her I was going to proceed without her. She told me congratulations and that was that. I don't see why the buyer would keep the agent around in this situation.
Posted on 3/15/17 at 9:23 pm to monteandmakers
Only if the agent brought you a buyer. Don't forget to pay yourself and cover your cost with fsbo.
Posted on 3/15/17 at 9:32 pm to monteandmakers
Cut the agent out. Plus any commissions should be paid on the buyers side. You're the one doing all the work brah.
Posted on 3/15/17 at 9:37 pm to monteandmakers
I personally would not have a big issue with paying half of the agent's fee....however, I would make it clear that he/she is no longer a "buyer's agent" because then the agent would be expected to represent both of you equally.
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