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I have a buyers agent. Never signed anything but I am not the type of person to screw someone over.
Lets say I come across a FSBO on my own and the seller is UNWILLING to deal(pay) my agent. Lets say I fall in love with this house and have to act on my own behalf (or pay the realtor fee myself).
What is best way to handle this type of situation?
I figure ...
1.) I can let my agent deal with FSBO and I pay the full 3%.
2.) I can let my agent deal with FSBO and get a reduce commision from me.
3.) I can deal with FSBO myself and give my agent nothing.
4.) I can deal with FSBO myself and give my agent something for there time.
Anything I am missing? Anyone ever experience this?
As you said nothing was signed between you and your agent, a "Business Relationship Between Broker And Buyer" contract, then you're under no obligation to do anything for the agent. And technically, without that contract, you don't have a buyer's agent. You have a nice person willing to take you around and show you houses for free.
The only reason you should continue with your agent is if you're uncomfortable doing all the legwork yourself.
Agents, don't kill me please! This is a mistake too many agents make and one of the main reasons some of us don't shed tears and sympathize when told "they bought a house without me".
Well we had an
agent once that if they had done their job, would have gotten a new laptop (as a thank you on top of the commssion)
long story
I am sure some agents can make a suggestion?
I agree with Bazzwell. I suggest discussing the matter with your agent and then make a decision. Most agents won't get between you and home you want to purchase (especially in this case where there is no agency.) Most owners by the way, don't mind paying the 3% for a sale. Did you find one of the ones that does mind?
I agree with Bazzwell. I suggest discussing the matter with your agent and then make a decision. Most agents won't get between you and home you want to purchase (especially in this case where there is no agency.) Most owners by the way, don't mind paying the 3% for a sale. Did you find one of the ones that does mind?
This is all WAY WAY premature. Found a FSBO I plan to go look at this weekend. The FSBO said he would prefer not to pay any agency but said something could be worked out.
Just getting some info on a possible bottleneck situation that is doubtful but possible.
This is all WAY WAY premature. Found a FSBO I plan to go look at this weekend. The FSBO said he would prefer not to pay any agency but said something could be worked out.
Just getting some info on a possible bottleneck situation that is doubtful but possible.
Of course doesn't want to pay a commission! That will cost them money and that's why normally why someone elects to sell unrepresented. I suggest having your agent go look at it with you. Just make sure they understand that the owner may not be willing to pay and you aren't coming out of pocket to pay them (unless you think you need the guidance). Just make a phone call to your agent and tell them the situation. I'm sure they'll appreciate your honesty. If they give you a hard time fire him/her.
Do you really want an agent who doesn't have the business sense to put your buyer/agent agreement in writing to work on this extremely important business contract. This isn't a casual car sale...it's a home puchase and you want a professional to represent you if needed.
I'm in the exact same situation, but am under contract with my agent for 8 more weeks.
We'll make a decision what to do with the agent if we decide to buy.
1. Buy and pay agent commish (even though he hasn't done anything but show us a ton of overpriced homes and tell us how perfect they were for us)
2. Give agent option of lower commish, or we sign purchase agreement with seller after our broker agreement expires and broker gets zip.
Do you really want an agent who doesn't have the business sense to put your buyer/agent agreement in writing to work on this extremely important business contract.
Given that I would REFUSE them as my agent if they required it my answer is YES.
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