Listed w/ Agent but found my own buyer, now what? please help!

[Northwoods Voyager]

Why does everyone get in such a disagreement concerning the commission that the broker and agents receive for selling property? In the long run, ok, very long run, it is the buyer that theoretically pays the commission. They are the ones paying for the property.

Say a seller lists the property for $110,000. He/she wants $100,000. Buyer offers $106,000. Seller accepts. Seller receives his wanted/asking price. The 6% goes to the brokerage to be split between agents involved.

Agents are performing their jobs and property gets sold and buyer has what he/she wanted. Seller has the money minus fee. But, buyer paid for all of this. Am I looking at this in the wrong way?

[riverglen]

Thank you all so much for the replies both positives and negatives.

It has been a hectic couple of days with all of this going on. After reviewing my contract in detail I realized I was not (thankfully) in breach of my contract. Regardless of who found the buyer the same commission would be paid. I decided the best thing to do for me was to let my realtor know what was going on. We agreed together that the fair thing to do was to split the commission. It is a win win for everybody, she get's her commission and I save on the other half.

In the future I would always make sure you read all the fine print before you sign any contracts. I never expected that this was something I needed to be concerned with and thought that our home would sell much quicker than it did. Now I know to expect the unexpected especially when selling a house.

I have an additional buyer ready to make an offer so the highest bidder wins. I will keep everyone updated and thanks so much again.

[olecapt]

Originally Posted by riverglen

Thank you all so much for the replies both positives and negatives.

It has been a hectic couple of days with all of this going on. After reviewing my contract in detail I realized I was not (thankfully) in breach of my contract. Regardless of who found the buyer the same commission would be paid. I decided the best thing to do for me was to let my realtor know what was going on. We agreed together that the fair thing to do was to split the commission. It is a win win for everybody, she get's her commission and I save on the other half.

In the future I would always make sure you read all the fine print before you sign any contracts. I never expected that this was something I needed to be concerned with and thought that our home would sell much quicker than it did. Now I know to expect the unexpected especially when selling a house.

I have an additional buyer ready to make an offer so the highest bidder wins. I will keep everyone updated and thanks so much again.

Clap clap clap...and you hired a smart agent...