Hello Everyone! I hope this is the right place to ask this question. I rent a friends home (lives out of town) and she is going to sell the home. She asked if I would show the home and if I close it without a realtor she would compensate me. My question is if I show the home and advertise it, how much should I be compensated? What if I find a buyer, how much compensation should be given? Thank you for any help!
@Anna Stocks realtors charge 3% but they do not get that full amount. Depending on price and time I would ask for a flat fee. Would need to have more info on property and how quick you think it would sell
REALTORS actually know what they are doing (usually) and earn their money. Are you familiar with the law? Would you represent the Seller, draw up contracts, advise along the way, negotiate the contract, etc?
If all you do is market and show the home, an hourly wage would be sufficient. Consider what your time is worth and negotiate something with the seller. Be sure to have a written agreement, signed by both of you, so there's no confusion later on when you ask to collect. I also recommend you have him/her pay for any marketing in advance so you're not incurring expenses out-of-pocket and trying to go after the money later.
She has to sell the house. You legally may not do so without a license.
But you can show the house for her and allow buyers and their realtors access. You will need to take safety precautions if allowing people into your home. Basically she will be compensating you for allowing her to offer for sale a clean staged property with you cleaning and your furniture staging, your presence is safeguarding the property from the occasional mischief that can befall a vacant for sale property, and your rent and flexibility allow her to continue to pay her mortgage while waiting for the house to sell and not have a lease in place while selling. The later is actually pretty big if the owner wants to market to owners and not investors. Many landlords wait until the house is vacant and paint, clean and recarpet. I would ask for a refund of the last months rent as compensation for the inconvenience of keeping a spotless house, the showings and the uncertainty of your living arrangements as you cannot really plan until it sells...maybe a bonus if it sells quickly due to your “staging.” Put it in writing because you don’t want to lose a friend over a misunderstanding.