Home Selling in 46226>Question Details

Mlb, Home Buyer in Fort Myers, FL

If I find a buyer for my house on my own do I still have to pay the commission to the realtor that has it listed?

Asked by Mlb, Fort Myers, FL Tue Oct 27, 2009

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"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 REALTOR® to actually get the deal closed? "

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?

; )...Dunes
2 votes Thank Flag Link Tue Oct 27, 2009
When in doubt read your contract. If you signed an Exclusive Right Contract then you will still owe a commision. Finding a buyer is the easy part though so your agent still has a job ahead of them self. Getting to the closing table is the goal and your Realtor will guide you through the process. They understand your state's laws regarding real estate, they know the people involved and they do this on a regular basis. Most people sell a home every 5 to 10 years. This month I sold 3. The experience of your agent is what your paying for in addition to the marketing and advertising that they provided. If they are a good agent they will earn their paycheck, just like any hard working American.
1 vote Thank Flag Link Tue Oct 27, 2009
It depends on the terms of your listing contract. If it's an "exclusive right to sell" contract, then you owe a commission regardless of who brings the buyer.

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.
0 votes Thank Flag Link Mon Jun 11, 2012
Ask the Realtor that you hired to market your property, I am sure that they will have some input.
0 votes Thank Flag Link Thu Jan 21, 2010
Basically it all depends on how your listing agreement is written. If you signed an exclusive right to sell than yes, unless you specifically asked to retain the right to sell your house yourself. The listing broker could then agree that you pay no commission, a lower commission or even half teh commission. This is something you definately want to negotiate, discuss and agree to BEFORE signing a listing agreement. Good luck with your sale.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Mon Jan 4, 2010
MIB
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.

Good luck.
0 votes Thank Flag Link Tue Oct 27, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Mib, that's going to depend entirely on what's written in your marketing agreement. Check the contract, there should be a paragraph that addresses this possibility.
0 votes Thank Flag Link Tue Oct 27, 2009
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
If your listing agreement states "Exclusive Right To Sell", then most likely you will still owe commission. I wish you well with the process for you. With the state of the current market, more deals fall apart at the last minute than ever before.

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!
0 votes Thank Flag Link Tue Oct 27, 2009
Mlb:

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 REALTOR® 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 REALTOR® you trust assist you in those negotiations can more than cover the fee you're paying them.

Good luck.

Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group, LLC
317 413.8501
joe@joeshoe.com
0 votes Thank Flag Link Tue Oct 27, 2009
Good morning Mib,

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.

Good Luck!
0 votes Thank Flag Link Tue Oct 27, 2009
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