Home Selling in Hopkinton>Question Details

Dc63, Home Seller in Syracuse, NY

a friend wants to buy our house, but does not want to go through my realtor, can this be done

Asked by Dc63, Syracuse, NY Sat Jul 31, 2010

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bgk’s answer
You should sell it directly to this buyer w/o using agents. Both of you should hire real estate attorneys to assist with the process. Will be just like a normal sell, with an inspection and probable subsequent negotiations. As long as the seller you located did not come to be aware of your house via your agent, such as at an open house and you havent signed an exclusive right to sell you should be ok.

Lets face it do you or your friend really need the agents in this case? 6% commission is ridiculous.
0 votes Thank Flag Link Tue Feb 22, 2011
My question is why does your friend not want to use your agent? If the only reason is to escape paying the realtors commission and that does not seem fair. The agent you hired to sell your home I assume has fulfilled his part of the agreement to market and show your home. You have agreed to pay for this service through a commission upon the sale of the home. If you feel your agent does not deserve the full commission since you found the buyer . You should discuss your concerns with your agent . The agent might offer a discount since he will receive both sides of the deal .You are both on the same team . The team of trying to sell your home.
In my opinion It would be in your best interest to have the agent act as your negotiator with your friend, This will keep a impartial buffer between you and your friend. In my experience doing business with friends can be a tricky thing.And having a third party can save your friendship and I think that alone is well worth the commission paid
0 votes Thank Flag Link Sat Aug 7, 2010
Your friend should find a good buyers agent.
0 votes Thank Flag Link Sat Aug 7, 2010
Sure, he can find himself his own realtor or represent himself. Your realtor can happily only represent you if that makes your friend feel better. Good Luck.
0 votes Thank Flag Link Wed Aug 4, 2010
A lot of self-serving advice here... Here is the deal. If you signed an "exclusive right to sell" agreement with your realtor, then YES, you have to go through the realtor, even if your friend found out about the house through you.

Plus selling to a friend is not all it is cracked up to be. You need to make sure you are getting the right price, or you will not be happy. And if something goes wrong with the transaction, your friend could blame you, or vice versa, and both the deal and the friendship may fall apart.

If you really want to, you can wait until the listing agreement expires. That would be the "right" way to do what you want to do. But why should your friend care? You are the one paying the commission. Is that the real issue? If so, you won't save it by trying to circumvent the agent while the listing contract is still active.

One way to look at it is this -- you owe it to yourself to really get proper market exposure. That will maximize your selling price. Having an agent will probably reduce headaches by having a trained professional negotiate for you -- the main reason to hire a realtor in the first place. Isn't selling to a friend the very OPPOSITE scenario of the professional, arms-length, 3rd party benefit of a realtor? Otherwise why did you not just go FSBO with a cheap MLS listing service?

So study the whole situation carefully with a "long term" perspective and make wise choices according to the entire situation, not necessarily your first impulse or the pressures of friendship.

Check the Massachusetts laws through the link below for more info. Good luck.
0 votes Thank Flag Link Wed Aug 4, 2010
Home seller:

This is always a challenge for Realtors and Sellers. The Realtor begins spending time and money from the execution of the contract and compensation should be due. Further, your Realtor is there to protect your interest, and you should discuss with your Realtor ways to deal with this. Ultimately you should want representation as I can not tell you how many horror stories I have heard that occurred from arms length transactions. Friendships can be destroyed when money is involved.

Best of luck in a situation no one is envious of, but with compromise and communication can be dealt with.
0 votes Thank Flag Link Wed Aug 4, 2010
Is your house listed with your Realtor? Has your Realtor shown the house to your friend? That would be the primary question. If it is not listed, you can sell your house to him with no realtor. I would make sure to know the subdivision should comps before agreeing upon a price with them. Personally, I would still use a Realtor for several reasons, really it comes down to your choice and personal preference.
0 votes Thank Flag Link Sun Aug 1, 2010
Although not clearly stated, I am sensing a desire to by-pass real estate agent comissions. If you have a contract with your real estate agent, you are in for the agreed upon comission, typically 3% for listing agent(broker) and 3% for sellling agent(broker). You must honor that contract for the time the contract is in force.

If I have misread the question, then your friend may engage his own real estate agent to represent him, as a buyers agent, should he desire. Don Tepper's answer is hitting the nail on the head.
Jim Ryan, Home Savings of America, 703 591 5626 ext 419.
0 votes Thank Flag Link Sun Aug 1, 2010
Yes, your friend can buy your house without going through your Realtor. To keep a good friendship, it might be better for your friend to have their own Realtor so everyone feels they were represented properly. Your Realtor represents you and your interests. So you might be better off if your friend went through your Realtor.
This keeps the friendship seperate from the business side of the transaction. Good Luck!
0 votes Thank Flag Link Sat Jul 31, 2010
Yes, of course, your friend can choose their own agent represent them.
0 votes Thank Flag Link Sat Jul 31, 2010
Your home is for sale through your "selling agent" your friend can purchase your home thru a 'buyers agent" of their choosing. Sharon Lucido, SB Real Estate 508-294-5630 http://www.bournetosell.com
0 votes Thank Flag Link Sat Jul 31, 2010
A buyer has the right to choose a realtor for services.
0 votes Thank Flag Link Sat Jul 31, 2010
If the friend became aware of the house only after you listed it with your REALTOR than no. The best thing to do is talk to your realtor, I'm sure you can negotiate a deal that will benefit the both of you and your friend.
0 votes Thank Flag Link Sat Jul 31, 2010
Your question is a bit vague.... If the intent is to cut out the Realtor, than no that cannot be done.(assuming the home is under contract and listed) You are under contract with that Realtor and it would behoove you to let your agent represent you in the transaction. If their is no listing contract, then I suppose you and your friend can put a deal together. I just wonder why your friend doesn't want you represented by a Realtor?

If they just do not want to go directly through your listing Realtor, they can be represented by an agent of their choosing.
Web Reference: http://www.thehousewiz.com
0 votes Thank Flag Link Sat Jul 31, 2010
Yes, your friend can buy your house without going through your Realtor.

In fact, your friend would be better off going through another Realtor, one of her own choosing. Your Realtor represents you and your interests. So you might be better off if your friend went through your Realtor. But it's difficult for one Realtor to represent the interests of both buyer and seller. For that reason, your friend probably should go out and get his/her own Realtor. It won't cost you any more--you've already agreed to pay a specific commission and that won't change. And it won't cost her anything.

Hope that helps.
0 votes Thank Flag Link Sat Jul 31, 2010
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
Dc63,
They can get their own realtor if they want. I am sure that either way, they will be well taken care of in the contract and negotiations and then closing of the property. It is really up to the buyer which way they want to go.

Debbie Albert, PA
Coldwell Banker Residential
Web Reference: http://www.ronanddebbie.net
0 votes Thank Flag Link Sat Jul 31, 2010
The ANSWER is YES - It can be done and has been done. Anyone can sell there own home.

The question I have is SHOULD YOU?................. it is not an easy streamline process and you have much to know and protect yourself from and be aware of - a thousand options and concerns, lead pain being just one, title issues, etc.
At the very least be sure you have a attorney who is familiar with real estate law in you state.

I am not a Realtor in your state but I do suggest that if you have any concerns at all it is worth a tiny commission to be sure your transaction is done properly - the stack of papers is 2" high at the closing table and just one piece of paper can destroy your day. I suggest using a trained agent but as I said you do not HAVE to.

In the case a friend buying your home - sooner or later and issue will arise, most likely in a year when to roof lets go, boiler dies, friend gets mad wants to sue you, and who will you turn to? JUST BE SURE TO PROTECT YOURSELF NOW AND IN THE FUTURE !!



Jamin Jones
978-335-9092
0 votes Thank Flag Link Sat Jul 31, 2010
It sounds like you have listed your house with a real estate agent already. If that is the case, then yes, your friend must go through her. (Your agent invests time and money to list your house, and as part of your agreement, you have an obligation to refer any interested parties to him/her).

But if you have'nt signed a listing contract with an agent yet, and you have a buyer, then you don't need to go through an agent. Hoewever, it might be wise to ask one to help you manage the sale for a smaller fee than a full listing commission. Since the agent won't have to invest time and money in advertising, most would be willing to do this, and you could save money in the long run. An agent could review the offer and terms with you, work with the buye'rs lender, review the inspection results with you, and make sure you have all your paperwork in order, and coordinate the closing.
Web Reference: http://homes.debn.net
0 votes Thank Flag Link Sat Jul 31, 2010
Contact a local real estate agent or residential real estate attorney that can be a transactional agent and guide you both through the process but can't represent either of you.

If that does not feel good to you, get your own agent who represents just you and tell your friend that they can be represented by someone if they want.

You have to both realize that if something goes wrong, you are going to blame the other. So, to ensure you are friends afterwards, get someone to represent you both.
Web Reference: http://fglick.com
0 votes Thank Flag Link Sat Jul 31, 2010
Well she doesnt have to have soemone reresenting her, but you certainly need someone representing you. You can either either use a Realtor or will need a lawyer. A Real Estate agent should be willing to work for less than half and can guide you trhough the sale. They will prepare the purchase agreement, provide you with the state and federal disclosures, assist you and guide your through the home inspection, will keep tabs and assist if needed with the buyers mortgage, will be there for the appraisal and go over the closing documents and attend closing with you.

You can hire an attorney for more money and they can prepare the documents and review them.

So it is up to you how much expereince you have and how comfortable you are, but for 1 or 2% you can receive comfort in knowing someone is looking out for you during the sale,

good luck with yoursale.
Web Reference: http://www.ScottSellsNh.com
0 votes Thank Flag Link Sat Jul 31, 2010
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