Home Selling in Bensonhurst>Question Details

Amy Sherman, Home Buyer in Brooklyn, NY

We are thinking about selling our home on our own. If a buyer comes in with a Realtor do we still have to pay their agent the 3% commission?

Asked by Amy Sherman, Brooklyn, NY Thu Jan 24, 2013

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17
Jose Garcia’s answer
Mrs. Amy Sherman,
I believe that if the real estate agent have a buyer that is qualify is up to you and the real estate to
have an agreement. For example, most of the time agents have buyers that are qualify and you agree to the selling price is okay, This have to be you the seller and agent. You do NOT have to paid if there is no agreement between the parties.
If you have question you are free to call me. Thank you
718-300-3449
Real Estate Broker
0 votes Thank Flag Link Sun Aug 18, 2013
Can I set up an appointment with you to view you home? Please contact me direct. Thank you.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
1 vote Thank Flag Link Mon Feb 18, 2013
You would probably get more interest from Realtors if you offer them a full commission instead of trying to get by with nothing or half. If an agent deals with a FSBO they always end up doing twice the work for half the money. If the tables were reversed would you jump up and down for something like that? I know I would not.

Good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
Web Reference: http://jamessimms.com/
1 vote Thank Flag Link Mon Feb 18, 2013
Amy
We can help you offer financing to any buyers who are interested in your home. The service is free and backed by a National Bank. We lend in all 50 states and can offer 100% financing as well. There is no reason to show your home to anyone without a qualified Letter of Intent from a Bank that they are qualified to purchase. A pre-approval letter is rather worthless and can keep you locked into a contract with a buyer who ultimately may not qualify for your home. Feel free to call me if I can be of service. You can also send your buyers to http://www.PurchaseApplication.com to get instantly started on the approval process.
0 votes Thank Flag Link Sun Jan 5, 2014
Hello, it is usually the rule for the seller to pay the agent the buyer is working with unless you specify it in your advertising and to buyers you communicate with. But it's usually better to have an agent represent a buyer because they act as the middle man for doing negotiations on price and repairs, helping the buyer go through the mortgage process and keeping them patient and to keep you up to date on the buyer. Also the agent acts as the manager to make sure everyone in the deal is doing their job and to come up with solutions to any problems that can jeopardize the deal. Also the agent will manage dealings with the bank, inspectors, appraisers, and attorneys and more.

So it's smart to have an agent to manage things on your behalf or on the buyer's behalf to keep things moving since there are so many people involved in a deal that can stop you from getting to the closing table. Paying 3% or more is not much to pay if your home is going to sell.

If I can help you with any other questions feel free to contact me.
0 votes Thank Flag Link Sun Jan 5, 2014
The short answer is no.


You can use a syndication service like postlets to list your house. This will put it on ALL the major sites. In Brooklyn most listings hit the internet rather than a MLS like in Queens / Long Island.

If your smart, willing to learn and are generally good at business you can do it yourself, not rocket science.

Im sure you know this but make sure your house is in good showing condition.

-Ev
Lic Realtor
0 votes Thank Flag Link Mon Dec 9, 2013
Although sellers believe that by selling by themselves it save sellers commission money in reality the sellers most of the time they loose money because sellers do not have experience and sellers waste making more money even with real estate commission included. Answering the question if agent comes with a buyers although there is no agreement with the realtor is up to the seller to pay commission.
If you need to sale your house you can call me and you would decide what I can offer you
sincerely,
Jose
RE Broker
718-300-3449
0 votes Thank Flag Link Tue Nov 26, 2013
It's been seven months, I bet Amy has it handled by now!

Please, colleagues - check the dates before reviving old threads!
0 votes Thank Flag Link Sat Aug 17, 2013
Ms Sherman, Realtors will not normally show your property without a commission agreement. If a realtor brings you a qualified buyer then of course they deserve a commission, which is normally negotiable.

In today's market, you do need a realtor to assist you with your selling process, assisting you with pricing your home correctly based on the market value, making sure only qualified buyers are able to view the property, basically assisting you from getting a buyer right through to the closing table.

Please contact Lana Headley at 917 882-2197 for a Free Market Analysis.
0 votes Thank Flag Link Sat Aug 17, 2013
Hi Amy,
Check out my fsbo tips. I have a network of really good agents if you need a free referral. Best Wishes, Gerry
http://www.youtube.com/watch?v=AAOVoR7LFvY&sns=em
0 votes Thank Flag Link Sat Aug 17, 2013
If you have not signed any written agreement with the Realtor then the commission can be negotiated. However the buyer may have to make up for the difference. If you currently are still trying to sell your home, please contact me, I would love to help.
0 votes Thank Flag Link Mon Jul 29, 2013
I'm sure if an agent is going to show his or her qualified buyer your property that they want to get paid because you will be getting your home sold and getting profit from the sale. Real estate is a career so if you benefit so should the Realtor that bought you the buyer.

I suggest that if you don't want to pay a realtor then put big and bold in ads "NO REALTORS " and they will not bring their buyers.

In today's market you should use a Realtor to help you sell your home because the buying process is not easy any longer. A Realtor can price your home correctly based on research, can more easily find and select a qualified buyer and request personal documents that you cannot as an unlicensed person.

Call me if you need help or have any questions 646-725-5941.
0 votes Thank Flag Link Wed Mar 6, 2013
Amy, to answer your question, no, BUT there will not be a Realtor willing to show your property without a signed contract with them.

I totally understand why you want to sell your home on your own, most probably is to save some money. But before you put up the sign on your window that say "for sale by owner" consider the following points:
- do you want strangers knocking on your door and showing your home late at night while your kids might be sleeping?
- do you have the resources to market your home in newspaper, magazines and the Internet? This cost are pretty expensive when you add them up. Remember, the more exposure you have on your home, the better price you will get.
- do you have the time to deal with sifting all the calls to find the "qualified" buyer? especially the lending market we are in now, it is a lot of work to just find a "qualified" buyer
- do you have the time, patience and experience to go the entire selling process from qualifying a buyer -> showing the house -> inspecting the house -> all the way to the closing table? This usually takes from 60 to 90 days, many things could happen during this period.

I strongly suggest you give this a thought before putting the "for sale by owner" out your window. If you have any question, you can always reach me by email or phone. Good luck!
0 votes Thank Flag Link Mon Feb 18, 2013
Hello Amy - No, you do not have to pay a realtor a commission since you did not enter into an agreement to sell your home. As well, most realtors will not show your home if there is no agreed commission pay out.

If you need any assistance to sell your home please consider us. We offer a complete line of housing services that can help you to preserve, protect and manage the sale of your real estate asset. Our staff includes an appraiser, which helps us to reach more accurate valuations. For more information please visit the SALE link in our website, http://www.CityWideHousingServices.com
0 votes Thank Flag Link Sun Feb 10, 2013
Hire an agent to help you and let them do the work of
screening buyers, answering the phone calls and much more.
Fajardo Delacruz
Licensed Real Estate Agent
Century Homes Realty Group llc
Direct Line: 347-932-0609
0 votes Thank Flag Link Thu Jan 24, 2013
Dear Amy:

You are not obligated to pay a fee to an agent unless it is mutually agreed to in advance either verbally or in writing. If there is no prior agreement they can request that you pay the fee but you do not have to. Keep in mind that if the offer is good enough, you may want to! :)

Before you undertake trying to sell yourself, I would suggest you have several real estate agent come by and take a look at your home, have them give you estimates as to how much it would be worth in today's market and see if maybe you would rather hire an agent to help you.

The benefits of hiring an agent to help you is that statistically homeowners get higher prices (usually 5-10% more in Brooklyn) when they enlist the aid of a real estate agent. Plus the agent incurs all the marketing expenses and guides you through the entire transaction, not to mention qualifying the buyer and making sure the deal goes smoothly. On top of all that, you do not pay the agent unless they complete the job successfully at the closing table. Plus real estate agents usually have a good sense of humor. ;)

Even if you do not list with an agent after that, you will gain a keen knowledge of the market which at least will be helpful if you try to sell it yourself. If I can be of further assistance please let me know. I have been helping consumers sell homes in Brooklyn since 1993 and would love the opportunity to help you as well! Either way, good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Thu Jan 24, 2013
Hello Amy,

A good Realtor would have called beforehand and asked you this question. This is something that is totally up to the FSBO (For Sale By Owner) in charge. The FSBO is not obligated by the FSBO to pay anything unless there was an agreement between them and the Realtor beforehand (In writing)

FSBO away! I wish you luck.
But it's always best to go with an experienced Realtor.
They get you the highest price... That's their job. ;-)

Luke Constantino
Realtor
Douglas Elliman RE
M: (212) 300-3919
F: (917) 369-2690
lukeconstantino@elliman.com
http://lukeconstantino.com
325 Court Street, Brooklyn, NY 11231
0 votes Thank Flag Link Thu Jan 24, 2013
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