Skip to content
Buying & Selling Real Estate

User Stats

169
Posts
29
Votes
Jamane Y.
Pro Member
  • Greensboro, NC
29
Votes |
169
Posts

Should I work with a buyers agent or not?

Jamane Y.
Pro Member
  • Greensboro, NC
Posted Aug 28 2014, 05:33

I was contacted by a real estate agent that has a cash buyer looking for properties. She wanted to know if I work with a buyers agent. Can someone explain whiter I should or shouldn't and why? Thanks in advance.

User Stats

1,866
Posts
1,449
Votes
Larry Turowski
  • Flipper/Rehabber
  • Rochester, NY
1,449
Votes |
1,866
Posts
Larry Turowski
  • Flipper/Rehabber
  • Rochester, NY
Replied Aug 28 2014, 07:30

@Jamane Y. So if I understand this right, you have a property that you want to sell, but do not have it listed on the MLS. The agent has a cash buyer client that may be interested in the property and is asking if you would work with a buyer's agent. Is that correct? And this is your own property?

What this means is that you will give a commission to the agent, generally 3%, for bringing the buyer.

My answer would be absolutely yes.  A bird in the hand, as they say.  

While it is great to make a little more by selling directly to the buyer, you are missing 85% to 90% of potential buyers when not listing.  I always do paid listings, that way I keep my commissions down to just the 3% to the buyer's agent, plus the cost of the paid listing, $300.  In your case you are still not listing but will be giving the buyer's agent the standard commission.  It is definitely worth it, plus  the agent will handle the paperwork for you.

Account Closed
  • Homeowner
  • Pittsburgh, PA
511
Votes |
854
Posts
Account Closed
  • Homeowner
  • Pittsburgh, PA
Replied Aug 28 2014, 07:32

Sellers typically pay the commission on deals involving real estate agents.  So any offer presented by a buyer's agent is going to include a statement that you agree to pay their commission upon closing.  The amount of commission and who pays it is negotiable.  If you push to have the buyer cover it, you risk them walking away. 

You can always counter the buyer's offer to factor in the fact you will have to cover the commission.

BiggerPockets logo
BiggerPockets
|
Sponsored
Find an investor-friendly agent in your market TODAY Get matched with our network of trusted, local, investor friendly agents in under 2 minutes

User Stats

271
Posts
74
Votes
John Hamilton
  • Real Estate Transaction Engineer
  • Jacksonville, FL
74
Votes |
271
Posts
John Hamilton
  • Real Estate Transaction Engineer
  • Jacksonville, FL
Replied Aug 28 2014, 16:21

You can recoup if you get the buyer to cover closing costs...

User Stats

169
Posts
29
Votes
Jamane Y.
Pro Member
  • Greensboro, NC
29
Votes |
169
Posts
Jamane Y.
Pro Member
  • Greensboro, NC
Replied Aug 29 2014, 18:42

@Larry Turowski I don't have the property, the agent send me a message, telling about a cash buyer that she has. I really just needed to know how to handle this. And I think I have some of my questions answered. Thank you so much for the insights. I will talk to her and see if we can work something out.