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re: Selling Home with Agent but Found Buyer Myself
Posted on 1/5/21 at 5:31 pm to bigblake
Posted on 1/5/21 at 5:31 pm to bigblake
Did the realtor take the pictures? Did the realtor post the ad on the realtor sites? Just because they approached you directly, doesn’t mean the realtor didn’t “find” the buyer for you. Like you said, they probably found the house through the efforts of your realtor. You should definitely read the contract through before doing anything. If you want to exclude the realtor, the easiest option may be to wait until the contract expires.
1
Posted on 1/5/21 at 5:47 pm to Athletix
You signed (2) 6 month contracts? THAT shite IS CRAZY!
I listed my last home with an agent team from my neighborhood for 45 days. Went contingent on my future home and NOTHING. At the 45 day point we had already lost the contingent future home (30 day expiration) and fired the couple the morning our contract expired for failing to do their job.
When this happens, you can bet there will be 1 Million people at your door the day your contract expires to resign you up. The team we hired after that debacle SOLD our home before they put the sign in the yard, and for more than we had lowered it to under the other idiots.
The NEW listing company agreed to 30 day listing contract, and the amount paid was all dependent on who brought who to the table. 5% was worst case, but like in your situation, it would have cost me 1% for them to simply do the paperwork.
It sounds like you are 2 months into this new contract. Unfortunately if you have it listed on the MLS, that is probably how the new couple found it. Even if they found it by driving by and saw the sign that your realtor stuck in the ground, your realtor is responsible for the exposure.....therefore that company is owed as per the contract.
I listed my last home with an agent team from my neighborhood for 45 days. Went contingent on my future home and NOTHING. At the 45 day point we had already lost the contingent future home (30 day expiration) and fired the couple the morning our contract expired for failing to do their job.
When this happens, you can bet there will be 1 Million people at your door the day your contract expires to resign you up. The team we hired after that debacle SOLD our home before they put the sign in the yard, and for more than we had lowered it to under the other idiots.
The NEW listing company agreed to 30 day listing contract, and the amount paid was all dependent on who brought who to the table. 5% was worst case, but like in your situation, it would have cost me 1% for them to simply do the paperwork.
It sounds like you are 2 months into this new contract. Unfortunately if you have it listed on the MLS, that is probably how the new couple found it. Even if they found it by driving by and saw the sign that your realtor stuck in the ground, your realtor is responsible for the exposure.....therefore that company is owed as per the contract.
Posted on 1/5/21 at 5:49 pm to audioaxes1
Read your contract. Ask your attorney.
Posted on 1/5/21 at 6:04 pm to bigblake
A buyer without an agent approached me directly (realtor has no idea) and offered me an amount that would only be acceptable if I didn’t have to pay the 3% buyer agent.
---
I just reread your post. So you would pay the listing agent their share.
I see ABSOLUTLEY NOTHING wrong with this. Listing agents rarely get both sides of the transaction.
Talk to your agent. If she gives your grief, dismiss her and do the transaction yourself!
---
I just reread your post. So you would pay the listing agent their share.
I see ABSOLUTLEY NOTHING wrong with this. Listing agents rarely get both sides of the transaction.
Talk to your agent. If she gives your grief, dismiss her and do the transaction yourself!
Posted on 1/5/21 at 6:22 pm to stoms
quote:
fire the agent
Posted on 1/5/21 at 6:24 pm to bigblake
You have an agreement with the realtor. Do the right thing an honor not only your word, but your written agreement.
Posted on 1/5/21 at 6:39 pm to oneg8rh8r
quote:
if you have it listed on the MLS, that is probably how the new couple found it. Even if they found it by driving by and saw the sign that your realtor stuck in the ground, your realtor is responsible for the exposure.....therefore that company is owed as per the contract.
which is reasonable and fair.
OP you got an offer on your house because of your listing agent’s work whether he brought you the lead or not. Take the offer, counter the offer or move on.
Posted on 1/5/21 at 6:43 pm to bigblake
What type of contract is it? Exclusive agency, exclusive right to sell?
If its and exclusive right to sell, then you are contractually committed to compensate the agent even if you "found your own buyer." The agent can come back and present legal arguments about what he put in and what he is owed even if you close after the contract. Best bet is to tell him whats up and work our an agreement. Perhaps a lower commission to just complete the paperwork once the contract is worked out. The real benefit of an agent, after providing marketing, is making sure you don't get screwed during negotiations and with the contract. It doesn't matter as much if the buyer is coming with cash and are going to forgo appraisal and inspection and don't need to be approved for financing.
If its and exclusive right to sell, then you are contractually committed to compensate the agent even if you "found your own buyer." The agent can come back and present legal arguments about what he put in and what he is owed even if you close after the contract. Best bet is to tell him whats up and work our an agreement. Perhaps a lower commission to just complete the paperwork once the contract is worked out. The real benefit of an agent, after providing marketing, is making sure you don't get screwed during negotiations and with the contract. It doesn't matter as much if the buyer is coming with cash and are going to forgo appraisal and inspection and don't need to be approved for financing.
This post was edited on 1/5/21 at 7:27 pm
Posted on 1/5/21 at 6:55 pm to The Melt
Had this happen with my home and agent lowered their rate way down. Still handled all the paperwork and title arrangements etc.
Thought it was fair to pay what I paid and they handled all the “get it done” stuff requires to close the deal.
Thought it was fair to pay what I paid and they handled all the “get it done” stuff requires to close the deal.
Posted on 1/5/21 at 7:28 pm to ItzMe1972
quote:
I just reread your post. So you would pay the listing agent their share.
I see ABSOLUTLEY NOTHING wrong with this. Listing agents rarely get both sides of the transaction.
Talk to your agent. If she gives your grief, dismiss her and do the transaction yourself!
Good catch! Why would the OP even need to pay the buyer's agent if the buyer doesn't have one? I suspect the OP meant to say that the offer would only be acceptable if he doesn't have to pay the listing (his) agent.
Posted on 1/5/21 at 7:33 pm to bigblake
I started to fire Mother in Law agent and she got the house sold that weekend
I think agency stepped in made it happen
I think agency stepped in made it happen
Posted on 1/5/21 at 7:38 pm to bigblake
Realtors are pretty much a useless bunch. They are insanely defensive when this fact is pointed out to them as well.
Posted on 1/5/21 at 9:09 pm to bigblake
This is why I only use flat rate agents. Good luck!
Posted on 1/5/21 at 9:17 pm to bigblake
I hate real estate for this reason. Such a dog eat dog world where the focus is all about their commission and not actually about helping people buy their perfect home. Realtors are borderline car salesmen.
Don’t get me started on loan officers.
Don’t get me started on loan officers.
Posted on 1/5/21 at 9:28 pm to bigblake
quote:
I’m sure they saw it on Zillow or something similar.
It’s not like you just knew this person then. Sounds like they found it off of work of the realtor if that’s the case rather than you finding the buyer yourself. Then they approached you directly knowing you would cut the 3% to get the deal done. You get the same price for the property and the buyer saves $15k. Perhaps I am wrong, but that seems like what happened.
I am not sure what I would do. I may very well just fire the realtor as some have suggested. As someone else suggested, it’s a tough world and you have to take care of yourself first. After all, $15k is $15k. I wouldn’t fool myself into thinking I would have sold the property to this buyer for this amount without the realtor just to make myself feel better, though. That’s very unlikely.
This post was edited on 1/5/21 at 9:29 pm
Posted on 1/5/21 at 9:52 pm to bigblake
You didn’t find the buyer, the agent “found” the buyer by paying for the professional photos and posting it on the MLS. Read your listing agreement that you signed. It clearly states how long your contract is for and there’s also typically an extension to the contract (90 days or so) that if they can show that person observed the house during the contract period you still have to pay.
Trust me, if you try to tell your agent that you have changed your mind about selling and want to no longer list it they’ll most certainly be on the lookout for your house to close shortly after and you will find yourself in court paying the agent their commission in addition to court costs.
Just don’t be a POS and pay them what you owe for the listing and see if they won’t charge for the dual agency commission. At the end of the day you’re going to need him to do a lot of work to represent both sides.
Trust me, if you try to tell your agent that you have changed your mind about selling and want to no longer list it they’ll most certainly be on the lookout for your house to close shortly after and you will find yourself in court paying the agent their commission in addition to court costs.
Just don’t be a POS and pay them what you owe for the listing and see if they won’t charge for the dual agency commission. At the end of the day you’re going to need him to do a lot of work to represent both sides.
Posted on 1/5/21 at 10:32 pm to TitleistProV1X
On the bright side.....
My current realtor that we are working with is awesome so they do exist. But I had to go through A LOT of door openers before I found a real realtor.
My current realtor that we are working with is awesome so they do exist. But I had to go through A LOT of door openers before I found a real realtor.
Posted on 1/6/21 at 12:51 am to jimjackandjose
(no message)
This post was edited on 2/23/21 at 4:36 pm
Posted on 1/6/21 at 1:44 am to bigblake
You’re contradicting yourself. You know what you should do, you just don’t want to do it.
Posted on 1/6/21 at 2:22 am to Otto Scorzany
(no message)
This post was edited on 2/23/21 at 4:36 pm
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