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Asked by , Thu Apr 16, 2009

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Answers

12
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Fri Mar 5, 2010
An oldie but goodie. If you follow my answers, then you'll note a recurring theme which served me well in my climb up the corporate ladder. WHAT DOES THE CONTRACT SAY? Assuming this seller signed a Florida Exclusive Right to Sell Contract, then he's paying his listing agent the full commission NO MATTER HOW IT's SOLD. If a friend does buy it, then you're going to have one happy agent. Nice commission for very little work.
1 vote
Lori Placido, Agent, Franklin Square, NY
Thu Apr 16, 2009
Nothing,unless you worked this out before.You can ask your agent to ask her/his broker if there is something they can do? It is possible that they can work something out. I can't speak for another broker but I sure you still have to pay a commission
1 vote
Bonnie Seide, Agent, Gainesville, FL
Thu Apr 16, 2009
You need to review the contract. IF you did not leave out the neighbor in some area where it states that "if my neighbor buys this home you will not get paid a commission within 3 days etc..." , then the agent is due their commission. Sometimes homes can sell in a day, the time does not constitute whether a realtor earns a commission or not.
1 vote
Dana Schuster, Agent, Slidell, LA
Thu Apr 16, 2009
You will need to negotiate that with your agent. as your house is officially listed & you have a contract with your agent,you will owe your agent a commission unless your listing agreement specifically states otherwise. perhaps you could negotiate a lower commission rate with your agent as he or she will have both sides of the sale & will also save on marketing costs if this buyer comes through.
1 vote
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Sat Mar 6, 2010
I assume everyone has heard of the rule of law and that most American's support the concept. Why have contracts if one side or the other decides that their provisions are optional? I'm not saying that it is good or bad, just that it is. IF YOU DON"T LIKE SOMETHING IN A CONTRACT, THEN DON'T SIGN IT. But if you do sign it , then don't come back later with some lame excuse about fairness. You already agreed IT WAS FAIR when you signed the contract. No one makes you work with a realtor. If you don't want to, then by all means go the unrepresented seller route.
0 votes
Voices Member, , Benton County, OR
Fri Mar 5, 2010
Interested and Buying are 2 different things.....Next question
0 votes
Mack McCoy, Agent, Seattle, WA
Fri Mar 5, 2010
Pay it.

In twenty-five characters or more, the listing broker will be reluctant to believe that they shouldn't be paid a commission. And, most likely, a judge will concur.
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Fri Mar 5, 2010
So Dave

Since you asked this back in April - what happened?
Did your friend wind up buying the house?

If you're still out there - please update us!
0 votes
Bonnie Seide, Agent, Gainesville, FL
Fri Mar 5, 2010
Good afternoon.
I assume you signed a contract with the agent. You probably didn't specify that if someone buys it in a day or week you won't pay him a commission, did you?

I dont think it matters does it that a friend wants to buy your home? Don't you want to be represented in this real estate transaction no matter who buys your home? You may want to contact your agent and let him/her know that someone is interested in it. It is clearly stated in our agreements that the seller agrees to let the agent know if anyone approaches you. Also, this is a good way to prevent this friendship from going sour.
0 votes
Nick Reed, Agent, Gainesville, FL
Fri Mar 5, 2010
Hi Dave,

This matter should have been discussed with your listing agent at the time you signed the listing agreement. I would review the listing agreement to see if that stipulation is in the listing agreement. Your listing agent IS due the commission that was agreed upon in the listing agreement, if your homes closes.

I hope this helps...and good luck!!
0 votes
Annemarie Ru…, Agent, Alpharetta, GA
Thu Apr 16, 2009
Dave, that is fantastic that your friend wants to buy your home. Has your friend made an offer? Remember your agent is working for you and in today's market it is hard to get a home closed. Now your agents job really begins, I would suggest that your friend be represented by their own agent or one appointed by your agents broker. Good luck and hope you sell.
0 votes
Paula Bean, , Orlando, FL
Thu Apr 16, 2009
Dave,

I think you should ask your agent, however be aware that we get this all the time. Sure, it might sell quick and save some marketing costs and time, but now your agent has to do TWO jobs rather than one. I won't personally do this myself as you can only get the best deal for either the buyer or seller. It's sort of like getting a divorce and using the same attorney to save money.

Sellers often complain when it takes too long to sell their house, yet when it sells quick they want a reduced fee. Most of the fees we earn START when a offer comes in. That is where expert negotiation skills, keeping all the contingencies in place with regards to expiration time frames, dealing with the lender, dealing with title company, Termite and home inspectors and anything that comes up that could cause a transaction to fall through.

You should have your friends call your agent and make sure they are qualified to buy the house, and if it were me, I'd refer the buyer to another agent so I could work just with you to get you the best deal. Tread lightly here because when dealing with friends or family in a situation like this, things can often get nasty.

Good luck and let us know how it turns out for you.
Web Reference:  http://www.HomeOrlando.com
0 votes
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