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FSBO - how much to offer buyer's agent

Posted on 3/15/17 at 8:49 pm
Posted by monteandmakers
New Orleans
Member since Dec 2014
180 posts
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?
Posted by BeerMoney
Baton Rouge
Member since Jul 2012
8377 posts
Posted on 3/15/17 at 8:51 pm to
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 by PrivatePublic
Member since Nov 2012
17848 posts
Posted on 3/15/17 at 8:52 pm to
Price the commission into your negotiations.
Posted by LSU alum wannabe
Katy, TX
Member since Jan 2004
27005 posts
Posted on 3/15/17 at 8:52 pm to
1.5% minimum.

If you are struggling with it go with 3%
Posted by Tiger Prawn
Member since Dec 2016
21916 posts
Posted on 3/15/17 at 8:53 pm to
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 by 40 Rouge
Red Stick
Member since Feb 2009
2696 posts
Posted on 3/15/17 at 8:55 pm to
Just went throught this...

2%, but little to no negotiations on price.
Posted by monteandmakers
New Orleans
Member since Dec 2014
180 posts
Posted on 3/15/17 at 8:56 pm to
Yes, I thought about planting that seed in their head to ponder. I could tell them I'd offer to make a deal if they cut the agent out but it would probably be equal to the 1.5% anyway so from my side it is a wash.
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
17024 posts
Posted on 3/15/17 at 8:56 pm to
You won't get it done without the agents.

So basically whether you like it or not, you will pay the agent a commission
Posted by BeerMoney
Baton Rouge
Member since Jul 2012
8377 posts
Posted on 3/15/17 at 8:58 pm to
quote:

Just went throught this...

2%, but little to no negotiations on price.


So what you're really saying here is you were willing to come down on the price by 2% or more. So you just let the buyer give that money to the realtor right?

I just can't fathom why people would give money to realtors for nothing. It's not like they appraise, inspect or perform the closing. All things you'll have to pay other people to do.
Posted by monteandmakers
New Orleans
Member since Dec 2014
180 posts
Posted on 3/15/17 at 8:58 pm to
I agree, guess my best course of action is to stand firm on the price to cover any commission.
Posted by BeerMoney
Baton Rouge
Member since Jul 2012
8377 posts
Posted on 3/15/17 at 9:00 pm to
quote:

You won't get it done without the agents.

So basically whether you like it or not, you will pay the agent a commission



Really? Because agents do what besides find or list homes? I sold my last home without an agent and my buyer didn't have an agent.
Posted by LSU316
Rice and Easy Baby!!!
Member since Nov 2007
29311 posts
Posted on 3/15/17 at 9:06 pm to
quote:

You won't get it done without the agents.


Simply not true. I bought my first home and sold it with no agents involved in either transaction.

It just takes a little intelligence and cooperation from both parties.
Posted by dmjones
Acworth, GA
Member since Mar 2016
2303 posts
Posted on 3/15/17 at 9:11 pm to
quote:

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.




This. I know that LA law is weird compared to the rest of the country but I doubt that a case like this would be. If real estate law is even remotely similar, there is no need for an agent if the buyer found the property on their own and the property was FSBO. They would have a real estate lawyer to handle everything else. No agent needed.
Posted by KG6
Member since Aug 2009
10920 posts
Posted on 3/15/17 at 9:12 pm to
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).
Posted by Simplemaaan
Member since Sep 2007
3814 posts
Posted on 3/15/17 at 9:13 pm to
make the agent write the proposal. you can reject it. but try to stand firm on your price. screw realtors.
Posted by geaux7122
Baton Rouge, LA
Member since Sep 2011
238 posts
Posted on 3/15/17 at 9:20 pm to
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 by Beachtiger
Bomba Shack
Member since Apr 2007
4132 posts
Posted on 3/15/17 at 9:23 pm to
Only if the agent brought you a buyer. Don't forget to pay yourself and cover your cost with fsbo.
Posted by idlewatcher
County Jail
Member since Jan 2012
79209 posts
Posted on 3/15/17 at 9:32 pm to
Cut the agent out. Plus any commissions should be paid on the buyers side. You're the one doing all the work brah.
Posted by monteandmakers
New Orleans
Member since Dec 2014
180 posts
Posted on 3/15/17 at 9:36 pm to
They will be the one paying whether they realize it or not. I appreciate all of the feedback!
Posted by Spankum
Miss-sippi
Member since Jan 2007
56052 posts
Posted on 3/15/17 at 9:37 pm to
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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