Perhaps it means that since "Anyone with half a brain can "find a buyer" for a home' consumers should pay a lesser Commission......It should also be encouraging news for those considering doing a FSBO since some Agents continuously point out that those doing a FSBO must only have half a brain...
If you have "half a brain" find your own buyer then find an Agent if you need assistance "to actually get the deal closed"...That apparently takes more than "half a brain"
Since your "Realtor" couldn't find you a buyer that must mean......................?
Do you really want someone with less than "half a brain" doing your paperwork?
If your listing contract is an "exclusive agency" or "open listing" contract, then you will not owe a commission unless the listing agent is the procuring cause of the sale. Procuring cause may mean the agent finds the buyer, shows the house, and writes the purchase agreement, or it may mean the buyer drives by the house, sees the agent's sign in the yard, and stops to talk to you about it. On the other hand, if a buddy of yours hears you're selling and makes you an offer, the agent is no longer a procuring cause.
I would suggest it's worth paying the commission, if only to be sure all the details of the sale are handled correctly and that your best interests are represented. Working through an agent ensures someone familiar with the process is on your side... if you handle the sale yourself, you might miss some of the more subtle nuances of the deal.
We see questions like yours more often than you might think. I've read the answer below, so aside from those perspectives, here are some thoughts for you:
1. Your contract can enable you to exclude certain, named buyers from paying commission. This is normally something that is negotiated at the beginning of the listing. The Listing Agent's (L/A) job is to market the property, so as a listing is on the market although a buyer may contact you, the chances are that the manner in which the buyer became aware of the listing is due to the L/A's marketing efforts.
2. In this economy just finding a buyer is not enough. Issues that we typically see (and these are buyers represented by REALTORS) include qualifying for the financing, appraisal issues, and escrow issues. We have a saying in the business "anyone can open an escrow, it's closing that takes skill".
3. So if you really need to move, and a buyer contacts you, unless they are on the excluded list, direct them to your Realtor so they can determine if in fact they are a real buyer. You should also know that in over 90% of cases the buyer that purchases your home is represented by a Realtor other than the L/A.
Your best bet is to turn your buyer over to your Realtor to make it a smooth transaction for both parties. Even with a contract, everything is negotiable until the deal is done!
I'm going to put this as plainly as I can and hope you don't take offense.
Anyone with half a brain can "find a buyer" for a home. But what does that really mean, and how does that relate to the work required and provided by your REALTORÂ® to actually get the deal closed?
Further, are you certain that the offer from the Buyer you "found" is the best one you can get?
Certainly there are people who are adept at writing and negotiating real estate purchase contracts. That may be the case in your situation. However, most people are not proficient at all in that process, and having a REALTORÂ®Â you trust assist you in those negotiations can more than cover the fee you're paying them.
Principal Broker, REALTORÂ®
MacDuff Realty Group, LLC
What does it say in your listing agreement that you signed at the start of the listing?
The answer is probably yes. I am sure that your agent has been working hard to find a buyer for you, if you find a buyer yourself that is fantastic, however it does not detract from the effort your Real Estate agent has been making to assist you to sell your home.
First and foremost check your Agreement.