Home Buying in 44256>Question Details

Fdfdfd, Home Buyer in 11374

Can I negotiate a Guaranteed Home Sale fee? Especially since I have a seller lined up who will list with the agent I choose and then sell directly.

Asked by Fdfdfd, 11374 Fri Feb 5, 2010

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Why do you want a fee? If you are the buyer and have already agreed to a transaction with the seller, then just have an attorney complete the transaction for a flat fee. The seller saves on the commission and in turn offers the property to you at a reduced price.

If you are looking for a finder's or referral fee by introducing a seller to an agent, please understand that only licensed real estate professionals are allowed to receive commissions and referral fees.
1 vote Thank Flag Link Sat Jan 15, 2011
A real estate broker only earns a commission when they sell a property. Not when it's listed for sale. In the State of Ohio the law requires a third party representing representing another to have a real estate license or be an attorney.
Ohio law requires that only a licnsed real estate broker or licensed real estate salesperson (agent) can collect a commission.
Real estate brokers/agents are only permitted to pay fees or commissions to licensed agents. There are stiff penalities for voilations.
It is not unusual that "friends" consult with their "friends" reguarding their important life changing business decisions. It's great that you're interested in your friend's well being and personal needs.
You might suggest that your friend ask one of their business professionals (Attorney, CPA, Insurance agent) for a several referals to find a real estate agent they like.They can interview 2 or 3 agents before listing. Suggest that they should visit a few open houses in the neighborhood to meet several agents, Learn about the market and start to think about the sales processl
Web Reference: http://www.ohio.gov/
0 votes Thank Flag Link Sat Jan 15, 2011
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