Read the fine print!

From your suggested site,

"Our minimum fee is $5,500. If the commission we get from the seller is less than $11,000, we still keep $5,500 and refund you the rest.

If the commission is less than $5,500, Redfin will support the offer only if the list price is over $175,000. In these cases, Redfin will keep the full commission with no additional fees from you. "

on a $100,000 house, the minimum charge to the buyer is $5500.00 or 5.5%

LOL Oh my ,oh my

Stick with ebay dude, let real agents sell houses!

Please notice that all other people answering this question are "real estate pros." They have a vested interest in keeping the rate as high as possible. In this market, realtors are hurting even worse than home owners. In that type of climate they should be willing to accept a lower price to be competitive with the other starving realtors. If they won't I suggest using a site that understands market principles (supply and demand) like http://www.redfin.com. (Note: I am not associated with that website)

Amy,

You will not pay for anything that you do not agree with! You said no, the Buyer went elsewhere!

Question is, do you want to sell your home or not? Personally, I'd call that Realtor and try to get "HER CLIENT" back.

When you bought your home, you bought that home based on pricing (comps) containing a 6% realtor commission!

The buyer is working with a Realtor. You do have a choice, you can either continue to pay your mortgage, month after month paying far more that 3%, or you can work with a Realtor and sell your home now!

Answer should be easy!

Tanya
over 85% of sellers eventually list with a Realtor. 5% sell direct, and 10% give up. If you goal is to sell for top dollar, then I strongly suggest that you at least interview some Realtors.

In my market I can afford to be choosy on which properties I show my buyers. I tell them upfront that I work on commission, and if they want to buy a home listed by the owner, I still need to be paid. The problem you have is that you want a Realtor to work both sides of the transaction for half the normal fee. Personally my time is too valuable.

How would you like it if your boss told you you had a new project, but he could only afford to pay you half your normal wages?

If the Realtor disclosed they were a Realtor, brought you the client..all it takes is one time and one client, and then there is nothing wrong with the Realtor requesting a 3% commission.

On the Realtor's end, they could be working for that buyer for quite a while, and so if you agree to paying a 3% commission for them bringing a willing and able(has the ability to get a loan) client, one can justify the commission.

Unfortunately, in some areas a friend of a friend may be a sideline Realtor, who shows up at the closing table and claim to represent the buyer and want a check. If this is the case, send them packing.

If this Realtor however had a genuine interest and is enabling the buyer to get a loan, work the insurance issues, help with inspections, writing a purchase agreement, helping with due diligence, and makes sure you as a seller have completed accurately a disclosure on the property of all its faults and possible issues, etc. then it would be worth it to you to only pay 3% commission instead of the usual, (for our area) of 6%.

Tanya,
One other problem you might not realize is that in an exclusive buyers agency agreement will specify that the buyers agent is going to be paid a commission and that if you do not pay then the buyer may have to pay out of his own pocket. So by your refusing to pay the realtor a commission then you are putting it on the buyer to pay so he elected to not pursue your home. So just as some questions on here are asked we always need to look at the contracts that are on the either side of the fence.

Larry Story
Coldwell Banker Triad

Tanya,
It is not unethical for the realtor to ask for a commission on a home that is FSBO. Just as you have spent money and time on the selling side of your home, this buyer's agent has probably spent hours with this client looking for a home. I am sure the realtor has a buyer's agency contract with the buyer that stipulates that she will be paid at the time of closing by the selling agent, which in this case is you. Also, this agent will end up writing the contract, overseeing inspections, etc. for the transaction since she is the only Realtor involved. All this being said, commissions are negotiable and if you really want to sell your house then you might be able to reach some agreement with the agent on a fee/commission. As Realtors, we always asked if someone is working with a realtor, even if they call us direct. That can prevent the situation that you are now experiencing. It might be a question that you will want to ask in the future, too. I hope it all works out and you sell your home quickly.