BEST ANSWER If I signed a contract with a realtor but find a house for sale by own is the realtor entitled to the commision?

Asked by rbonfante, Plano, TX Wed Jun 12, 2013

This house is in Greensburg, pa.

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Harry Stine, Agent, North Huntington, PA
Mon Jun 17, 2013
Good Morning, I am a agent in Greensburg Pa, to answer your questions, it all depends on what you negotiated with your Realtor before you signed the Buyers Agency paperwork. To work with a realtor is beneficial due to all the paperwork, inspection as well as negotiating the best price for the home for you. We can help you gather the market price of home similar to the on your interested in and help prepare a offer. If you have any questions please feel free to reach out to me. Most agents answer the phone day and night and its helpful to help you through the buying process and solve any issues that arise.

Thanks,

Harry Stine
Keller Williams Realty
0 votes
Alan May, Agent, Evanston, IL
Thu Jun 13, 2013
That depends entirely on the contract that you signed.

Some Exclusive Buyer's Agency contracts state that while the contract is in force, they are owed a commission if you buy any house, with or without their help.

When all else fails: read (and understand) the contract to which you're affixing your signature. As you've discovered, it can be very important.
0 votes
Virginia Stu…, Agent, Irwin, PA
Wed Jun 12, 2013
I agree with the others: read your agreement, but still ask your agent to handle the sale. The bulk of the commission will probably be paid by the seller. Most importantly, your agent will obtain seller disclosures (required by law), and guide you for the necessary home inspections, title work, etc. It is worth every penny to have a professional help you, and it is a small amount compared to most home mortgages. Also, look at it this way: how would you like to work hard on a job and then have the boss say he isn't paying you. It is the same for Realtors. Buyers and sellers often do not realize how much time and money that agents must spend up front before (and if) they see any commission.
0 votes
Danielle Nic…, Agent, St Louis, MO
Wed Jun 12, 2013
You need to review the agreement you signed with the Realtor. Most will have a stipulation regarding this situation, and most will say that yes you do owe the commission. Finding the house is the easy part in any transaction. A Realtor is there to help you navigate through all of the other steps, and to help you protect yourself. Most By Owners will agree to pay a buyers agent, that might be the question to ask before signing a contract.
0 votes
Ron Thomas, Agent, Fresno, CA
Wed Jun 12, 2013
ENTITLED?
Heck Yeah!!!
Now we need to find someone to pay it.
0 votes
Maria Cipoll…, Agent, Coral Springs, FL
Wed Jun 12, 2013
It really depend of what kind of agreement you signed. If it was a buyer's agent agreement, you can counted on your agent to represent you from start to finish. It does not matter if you find a house for sale by owner, you still need the right advice, tips to negotiate the lowest price , find the right professionals like inspector, the right lender, etc. Buyer's agent is the practice of Real estate brokers and their agents representing a buyer in a real estate transaction rather than, by default, representing the seller.

All the best,

Maria Cipollone

http://www.Flahomespecialist.com
0 votes
Jackie Beard…, Agent, Naperville, IL
Wed Jun 12, 2013
Most buyers don't understand the process of working with an agent. I give my buyers a 'buyer packet' when I begin working with them. Whether they find a home on their own or not such as was the case in your situation I can still represent them. Most for sale by owners will sign an agreement to compensate the brokerage company if they bring in a buyer. You should continue to be devoted to your agent if they have been working for you in your home search. Most times a buyer will think if they go in on their own they will get a better price but it is usually the opposite. Only your agent will have the expertise as to the market value in that area and know whether or not the home is priced properly. There is so much more that goes into representing a buyer other than making sure you are getting the best price possible. Give them your information on this home and they can take it from there. Good luck!
0 votes
Bobby Crow, , Savannah, GA
Wed Jun 12, 2013
... even if you found a property for sale by the owner it is usually still beneficial to have a buyers agent representing your best interest in the transaction...

I am not an agent myself, but rather, a lender that has heard several nightmare stories of buyers handling purchase transactions on their own... you don't obtain a buyers agent just for them to find you a house, that's just a small portion of what they do for you...

Having an experienced professional with your best interest in mind is almost always worth the small cost associated with their commission. It pays to have someone ensure it's a sound deal.
0 votes
Terry McCarl…, Agent, Cape Coral, FL
Wed Jun 12, 2013
Did you sign a buyers agency representation agreement or did you sign a contract to purchase a home and the offer was accepted by the seller???

If you singed the buyers agency agreement you will need to read it very very carefully to see the terms of what you agreed to. If the agreement is not clear you will probably need to seek the advice of a real estate attorney.

If you signed a contract to purchase a property and the seller accepted and now you want to back out to buy the home you found for sale by owner you will definitely need to speak with a real estate attorney.
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