This is a noob question I'm sure but I have someone asking me if I can buy a property that is listed because its taking too long to sell. Is it possible for me to do that without the seller having to pay the agent or do we have to wait for the listing to expire?
Hey @Account Closed ,
If the property is currently listed, the agent would be owed commission as per the listing agreement.
@Abel Curiel thank you for the response. I suppose I can still buy it so long as they don't mind still paying out the commission. Would they at that point only have to pay say 3% or would they have to pay the full 6%?
John De La Garza
If property is on the market and not selling, what makes you think you can sell it?
If it is because seller will take a much much lower price, then why haven’t they done so with the agent?
All I ask is please don’t convince a seller to take their property off the market to sell it for a price within 10% of the listing price. It will waste everyone’s time and you will become a contributor to the poor name “wholesalers” already have.
Not making any assumptions just stating what shouldn’t be done for those reading this thread and considering on doing the same.
Best of luck !
@Gabe Amedee - thank you for the response. I don't think it would be worth it to sell for 10% less. I do flips so I know what you mean when you say "wholesalers". I haven't actually done a wholesale yet (this one is too far for me to flip though).
Good question... Whether they'll pay 3 or 6% depends on their listing agreement with the agent. Some agents do not charge their sellers the buyer-side commission if there is no buyer agent.