Buying a house from the seller directly? (agreements, broker, exclusive)

[jojow]

I just have to say that the seller's contract is the strangest I have heard. Basically, the listing agent pays for pictures, advertising, measuring, etc. to list the house and then earns absolutely nothing. I can't imagine agreeing to that as an agent.

OP - You certainly can deal directly with the seller. Whether or not you should depends on how much you know about buying a house. At the very least get a book like "Home Buying for Dummies" (no offensive) an do a LOT of googling. Be sure to google home buying for YOUR state. Every state is different. And definitely get a real estate attorney.

[Silverfall]

Originally Posted by jojow

I just have to say that the seller's contract is the strangest I have heard. Basically, the listing agent pays for pictures, advertising, measuring, etc. to list the house and then earns absolutely nothing. I can't imagine agreeing to that as an agent.

.

They are called Exclusive Agency contracts rather than Exclusive Right to Sell. They aren't as common, but they are about 5% of listings in my market. The agent is betting on the fact that they will likely get the sale and it makes a seller feel better to not have to pay if the buyer is found. Typically, those agents just take photos out here (not typically professionally) so they are out minimal marketing costs.

[JimBaker488]

RE commissions are illogical and unfair the way they are structured. For example it's easier to sell a half million house than a 100 K house yet the commission on the 1M houe is 5x as much. Therefor do all you can to avoid a commiss and that applies to both buyer and seller. At the very least get a cut-rate broker and save yourself thousands of dollars. The key is getting an attorney who knows RE.

[thebigW]

Originally Posted by ufcrules1

In most cases you can check what other homes are listed for in your area and can up with a number.
I'm not an agent and I know exactly what to sell my house for IF i wanted to sell it. Also there are plenty agents out there who will take 2 seconds to run a CMA for you. You can offer to pay one $50 for their time to do it and you would be overpaying them..ha.

Sorry, but...You don't know what you don't know.

[ufcrules1]

Originally Posted by thebigW

Sorry, but...You don't know what you don't know.

Not sure what you're trying to say. I know what I'm talking about.

[jackmichigan]

Originally Posted by JimBaker488

RE commissions are illogical and unfair the way they are structured. For example it's easier to sell a half million house than a 100 K house yet the commission on the 1M houe is 5x as much.

I must have missed that chapter in the "Book of Universal Truths".

[kww]

Originally Posted by JimBaker488

RE commissions are illogical and unfair the way they are structured. For example it's easier to sell a half million house than a 100 K house yet the commission on the 1M houe is 5x as much. Therefor do all you can to avoid a commiss and that applies to both buyer and seller. At the very least get a cut-rate broker and save yourself thousands of dollars. The key is getting an attorney who knows RE.

what

[thebigW]

Originally Posted by ufcrules1

Not sure what you're trying to say. I know what I'm talking about.

There's a lot more to a market analysis than 2 seconds or checking other current listings and coming up with a number. Just because you can pick a number, doesn't mean it's the right one.

[sj08054]

Originally Posted by flybird2

Stop by a house that is listed for sale, meeting the owner. The owner said his contract with his seller agent is that he could also sell the house directly if the buyer was not introduced through the brokers.
So, does it mean I can buy the house from the seller directly with going through both siders' agents?
Anything to watch out?

Tell the seller to read their contract with the listing agent. The owner could sell the house by him/herself but doesn't necessary mean they don't owe a broker's fee.

[Brandon Hoffman]

I think the rest has been pretty well covered but how did you find the house? Was there a FSBO sign in the yard or you found it because of the agents marketing? What about your buyer agent? Sounds like you're trying to cut them out also. Why?

What does it say about the ethics of a seller that try to cut out people they have some obligation to IF that is what is happening? If the OP as a buyer is trying to do the same thing?

Yes, you certainly can do what you want. An agent isn't always necessary but is nice if you have any problems.