Question: Buying a listed property

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Question: Buying a listed property

Account Closed
Rental Property Investor · San Antonio, TX · Member since 2016 · 85 posts · 40 votes

Hi everyone, 

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?

Best,

JD

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Abel CurielBusiness Member
Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
8y

@Account Closed

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. 

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  • Abel CurielBusiness Member
    Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
    8y

    Hey @Account Closed,

    If the property is currently listed, the agent would be owed commission as per the listing agreement.

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  • Account Closed
    OP
    Rental Property Investor · San Antonio, TX · Member since 2016 · 85 posts · 40 votes
    8y

    @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%?

    Best, 

    -JD

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  • Gabriel Amedee
    Investor · Miami, FL · Member since 2015 · 379 posts · 330 votes
    8y
    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 !
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  • Account Closed
    OP
    Rental Property Investor · San Antonio, TX · Member since 2016 · 85 posts · 40 votes
    8y

    @Gabriel 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).

    Best, 

    -JD

    1Reply
  • Abel CurielBusiness Member
    Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
    8y

    @Account Closed

    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. 

    REbuild Team - eXp Realty5234 Reviews
    WebsiteView Page
    1Reply
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