Question Details

Margaret, Home Buyer in Massachusetts

We have been working with a broker to find a house, but came across one fsbo, on our own. Do we need to pay?

Asked by Margaret, Massachusetts Wed Mar 12, 2008

the broker anything? Does the seller? We have not signed anything with the broker, but he lives in our town and we don't want to have a bad relationship with him.

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2
Margaret,
There is no law saying at this point you have to do anything. But, it neither the buyer nor the seller has any representation who is going to arrange all the paperwork and make sure that all your rights and interests are protected? The seller traditionally pays both agents. The commissions come out of the sellers proceeds. Besides if you let your agent handle the negotiations you can most likely get the home for less with more concessions that you might not have thought of.

I personally recommend you let your broker handle the sale. He will only get half the commission but, they will end up doing twice the work since there is no one on the the other end to handle the sellers requirements.
0 votes Thank Flag Link Wed Mar 12, 2008
I would suggest asking the FSBO if they would be willing to have an agent represent them, and you in this transaction. For legal reasons, you need an agent to make sure you're covered.
0 votes Thank Flag Link Wed Mar 12, 2008
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