| Posted By |
Message |
mishy626
LIF Infant
Member since 5/05 333 total posts
Name:
|
Buyers agent when the house is fsbo?
I put my moms house on Zillow for sale by owner. A couple came to look at the house today And brought there by buyers agent. They made an offer and then at the very end the buyers agent told my mom she would have to pay him 2%. I had put on Zillow she would not work with a buyers agent. Is this typical or is he trying to scam her? Thx
|
Posted 6/12/14 4:18 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
|
Re: Buyers agent when the house is fsbo?
As far as I know, if you are not selling through an agent, it's up to the buyer to pay their agent the commission. They are the ones who have the contract with their agent - not you.
I think this agent was trying to get you to pay his commission, rather than his own clients. He was probably assuming your mom is not educated on this (and not a part of LIF!  )
IF you were selling through an agent, typically, you (the seller) would be responsible for paying the agents' commissions (typically 4-6%) so your seller's agent would split his commission with the buyer's agent. But again, if you're FSBO, none of that applies, as far as I know.
|
| Posted 6/12/14 4:57 PM |
| |
|
BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
|
Re: Buyers agent when the house is fsbo?
Posted by NYCGirl80
As far as I know, if you are not selling through an agent, it's up to the buyer to pay their agent the commission. They are the ones who have the contract with their agent - not you.
I think this agent was trying to get you to pay his commission, rather than his own clients. He was probably assuming your mom is not educated on this (and not a part of LIF! )
IF you were selling through an agent, typically, you (the seller) would be responsible for paying the agents' commissions (typically 4-6%) so your seller's agent would split his commission with the buyer's agent. But again, if you're FSBO, none of that applies, as far as I know.
this 
|
| Posted 6/12/14 6:29 PM |
| |
|
mishy626
LIF Infant
Member since 5/05 333 total posts
Name:
|
Re: Buyers agent when the house is fsbo?
thx!
Message edited 6/12/2014 6:35:58 PM.
|
| Posted 6/12/14 6:35 PM |
| |
|
marianne13
LIF Adolescent
Member since 6/10 887 total posts
Name:
|
Re: Buyers agent when the house is fsbo?
I've heard of sellers paying a buyer's agent through a FSBO. But I've also heard of the buyer paying their own agent in a FSBO. I think it depends on the market and this is all negotiated at the beginning.. In a buyer's market, the seller may have to pay a buyer's agent to make the sale. In a seller's market, the buyer may have to pay their own agent.
|
| Posted 6/12/14 9:42 PM |
| |
|
fins
LIF Adolescent
Member since 9/07 821 total posts
Name:
|
Buyers agent when the house is fsbo?
I worked with a buyer's agent and my contract stated if we did a FSBO we would have to pay her the commission she would of earned if it was listed through a realtor
|
| Posted 6/13/14 9:20 AM |
| |
|
CSK
LIF Adolescent
Member since 9/11 892 total posts
Name:
|
Re: Buyers agent when the house is fsbo?
Posted by mishy626
I put my moms house on Zillow for sale by owner. A couple came to look at the house today And brought there by buyers agent. They made an offer and then at the very end the buyers agent told my mom she would have to pay him 2%. I had put on Zillow she would not work with a buyers agent. Is this typical or is he trying to scam her? Thx
This isn't a scam, and I don't take it as harshly as some other posters. Its a negotiation.
You are not liable for his commission, unless you agree to it. He is presenting an offer from the buyers that is X less his 2% commission.
Technically the buyers are responsible for his commission if they use him. As part of the offer, they are putting in the offer that you pay him the commission. I'm pretty sure this is typical when a buyers agent offer comes in on a FSBO. What you should be concerned with is the net number Offer less commission, and whether that is acceptable.
If you are getting a "good market priced offer" then I think its reasonable to pay 2% commission to a buyers agent, yes it is something, but its significantly less than a full service listing and puts an end to the FSBO, which can be a pain. However, if the offer is barely there and then 2% comes off that.......... ehh.
|
| Posted 6/13/14 9:55 AM |
| |
|
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
|
Re: Buyers agent when the house is fsbo?
Posted by CSK
Posted by mishy626
I put my moms house on Zillow for sale by owner. A couple came to look at the house today And brought there by buyers agent. They made an offer and then at the very end the buyers agent told my mom she would have to pay him 2%. I had put on Zillow she would not work with a buyers agent. Is this typical or is he trying to scam her? Thx
This isn't a scam, and I don't take it as harshly as some other posters. Its a negotiation.
You are not liable for his commission, unless you agree to it. He is presenting an offer from the buyers that is X less his 2% commission.
Technically the buyers are responsible for his commission if they use him. As part of the offer, they are putting in the offer that you pay him the commission. I'm pretty sure this is typical when a buyers agent offer comes in on a FSBO. What you should be concerned with is the net number Offer less commission, and whether that is acceptable.
If you are getting a "good market priced offer" then I think its reasonable to pay 2% commission to a buyers agent, yes it is something, but its significantly less than a full service listing and puts an end to the FSBO, which can be a pain. However, if the offer is barely there and then 2% comes off that.......... ehh.
.
This.
|
| Posted 6/13/14 10:32 AM |
| |
|
