Wednesday, July 7, 2010

I already have a realtor, I like a house ';for sale by owner';. How would that work?

Have the Realtor contact the seller and negotiate a commission. Most FSBO sellers will happily pay a buyer's agent, because that agent will make the whole transaction go much more smoothly.





A few FSBO sellers balk at having an agent in the picture at all, but in most of those cases, it's because there is something not quite right about the whole deal, and they don't want an expert helping you check things out. (Yes, there are a few that simply hate real estate agents, but are being completely honest about the deal.)I already have a realtor, I like a house ';for sale by owner';. How would that work?
You should have your realtor contact the owner to make arrangements for you to see the house and/or write an offer. If the seller is unwilling to to consider a realtor fee, you may have to agree to pay your realtor. If you go with them, and you have a contract (a buyer's contract), you could be in violation of that contract. In most cases the seller is willing to pay commission to one agent and thus you could be fortunate.I already have a realtor, I like a house ';for sale by owner';. How would that work?
The for sale by owner would participate in what we call a co-broke.





The for sale by owner would represent himself and save the 3%.





You would be represented by your agent and the for sale by owner would pay him 3%.





Hope this helps.





P.S. Some For sale by owners refuse to work with agents, therefore you would be representing yourself and the home owner would represent himself.





Terry S.





http://www.Welcome2Arizona.com
Simple. Tell your realtor that you want him/her to represent you and that they are to make sure they put their normal commission in the contract/offer. They can present the offer to the owner. If the seller refuses to agree to pay the commission then you need to tell the seller that you are not willing to buy the house without representation and the commission is your realtor's pay for representing you. Stick to it and don't go back on your word.
I assume you are a buyer being represented by a realtor. Check the agreement you signed to see if you are liable to your agent for a commission if you purchase a property ';for sale by owner';. If you're not sure talk to your realtor's broker.

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