General Realtor Question (buyer's agent, commission, contract, listing)

[countrypooh4]

I currently have my home for sale in Homestead, FL. I have ads on BuyOwner.com, The Flyer and Realtor.com. As we all know the market is extremely slow, if not at a stand still, here in FL. My question is in regards to hiring a real estate agent. If I hire a real estate agent but sell due to someone seeing my ad on the buy owner sites do I still have to pay that realtor commission? Also, generally, does a seller have to pay a buyers realtor commission? Any info is appreciated. Thanks!

[SaraSatin]

I am not sure about whether or not you would pay the buyer's agent commision, but I think that you probably would or the buyer would ask for that as part of the contract.

If you do decide to hire a realtor my suggestion would be to hire one that put it in the contract that if it was your previous buy owner efforts that sells the house you wouldn't have to pay them commission. When we hired our agent we had been trying to sell by ourselves and she said that if someone came in with an offer and it was due to our previous efforts that she would either step out of the situation entirely or represent us to make sure things were done correctly for a fee.

[chad Straight]

It depends on what type of contract you sign with an agent.If you get an exclusive agency listing you reserve the right to sell the property.Exclusive meaning listed only with one broker.Exclusive right to sell is when the broker receives a commission no matter who sells property. This allows the broker to advertize more as they are getting a better chance to sell it. Out of their commission they pay a percent ot other agencies who brings a buyer to the table. Commission is not a set price and is negotiable with any agency. Most offices has a office policy on what it is for their offer, but some can chamge that too as long as both parties agree to it. Hope this helps. Good luck

[chad Straight]

Sorry for the spelling Broken finger

[Brandon Hoffman]

Yes, with an exclusive agency the Realtor will get paid regardless of where the buyer came from. Would you work if there's a chance you might not get paid?

You pay only pay one commission to your brokerage. Your brokerage then shares that commission with the cooperating brokerage. You don't pay each agent separately.