Is a Realtor OK?

3 Replies

Is a Realtor OK to use if a secure a contract on home for sale by owner?

@Curry Forrer - You can use a Realtor, but I would confirm with the sellers that they are willing to pay commission to a buyers agent. Additionally, if you feel comfortable with managing the purchase on your own, the sellers may be willing to lower the sales price by the amount of money that would normally go to Realtor fees.

If you are not experienced with purchasing real estate I would highly recommend that you find a good agent to represent your interests. 

- Justin

If I was selling FSBO, I would be hesitant to hire and pay for your realtor to negotiate against me. You are the buyer, right @Curry Forrer ?  FSBO folks don't accidentally not get a realtor.  I'd be surprised if they up and say 'sure' unless their ad says agents welcome.  You can always ask.  Please let us know what they said!

@Steve Vaughan - I have offered a buyers agent money before in an FSBO deal. I was selling my house and didn't want to pay 5-6% in commissions. A buyer came by with their realtor to look at the house. The buyers wanted to make an offer and their agent asked if I would be open to a commission for her work.

Its only fair for me to pay her for bringing her clients, negotiating an offer, and dealing with all the inspections.

I told her that I was willing to offer 1.8% of the sale price - which she gladly accepted.

I ended up paying her around $4,000, which saved me $8,000 to $10,000 in Realtor fees. 

Thats a win-win in my book. 

 - Justin

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