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Hi all, a buyer was shown my house by their agent, but then they called me and want to do a private sale. I listed via a flat-fee MLS so I don’t have a listing agent, just a broker who already got their money upfront. My question is, is the buyer’s agent due the commission if the buyer prepares and sends the contract themselves? I assume that when they toured the place, they said they were working with an agent on the sign in sheet, though I have to confirm that. Just wondering if this is going to crash down on me if I take their offer.
The buyer is very definitely trying to cheat his agent out of the commission.
Did you promise a buyer's agent commission in the MLS? If so... It might need to be argued and won in court and it's not a sure thing, but... you may end up on the hook for it.
I wouldn't let this buyer do it. And I'd watch that buyer like a hawk if you do any deal at all with him, unless there is some reason for a legitimate grievance or falling out with the agent that would justify this kind of treatment.
Last edited by Diana Holbrook; 07-18-2020 at 01:08 PM..
Reason: Clarity..
The buyer is very definitely trying to cheat his agent out of the commission.
The commission was promised to the buyer's agent by you through cooperation with the MLS. It might need to be argued and won in court and it's not a sure thing, but you may end up on the hook for it.
I wouldn't let this buyer do it. And I'd watch that buyer like a hawk if you do any deal at all with him, unless there is some reason for a legitimate grievance or falling out with the agent that would justify this kind of treatment.
Apparently their agent isn’t being responsive to them. They probably also know I’m in a tight spot and this makes their offer attractive. The listing agreement I have says that if I find the buyer myself without a buyers agent, then no commission. I think therefore the only way it would work is if I took the house off the market first before any offer is made. Then sell it like that. Big risk for me and Still shady, of course, but considering how much I’m already losing on this sale, it’s certainly tempting.
Apparently their agent isn’t being responsive to them. They probably also know I’m in a tight spot and this makes their offer attractive. The listing agreement I have says that if I find the buyer myself without a buyers agent, then no commission. I think therefore the only way it would work is if I took the house off the market first before any offer is made. Then sell it like that. Big risk for me and Still shady, of course, but considering how much I’m already losing on this sale, it’s certainly tempting.
It could be even more risky for you if you strike a deal with a shady buyer like this and don't really know what you're doing in order to cover all the legal bases. I'd take a hard pass on this, IMHO.
Make a deal with the agent to accept something for the showing (out of the eventual closing) and then get lost if that's what the buyers want. Then you could work with the buyer directly.
Make a deal with the agent to accept something for the showing and then get lost.
Yeah I was thinking maybe a 0.5% to their realtor as a courtesy for the showing. Just enough to get them out of the picture. I don’t mind paying them something, but if they aren’t going to be involved further in the transaction, then I don’t think they should get the full commission.
So that would be about $1,700 for an hour of their time. I think that’s reasonable.
Yeah I was thinking maybe a 0.5% to their realtor as a courtesy for the showing. Just enough to get them out of the picture. I don’t mind paying them something, but if they aren’t going to be involved further in the transaction, then I don’t think they should get the full commission.
So that would be about $1,700 for an hour of their time. I think that’s reasonable.
As stated, it sounds fair. Of course, it's not usually just an hour, it can be many hours over many months to get there.... but if this is an unresponsive agent as described, it doesn't sound like they've had a long relationship to get to this point.
As stated, it sounds fair. Of course, it's not usually just an hour, it can be many hours over many months to get there.... but if this is an unresponsive agent as described, it doesn't sound like they've had a long relationship to get to this point.
Yeah true. I’m just thinking the time to show my house. I don’t know if the realtor has taken them to 50 houses. I agree it’s probably a short relationship. I’m going to talk to my real estate attorney on Monday about this. Last thing I need is a lawsuit!
Thanks all! Happily one of my other normal offers came up in price and I can go with them
Will make slightly less than if I went directly with the buyer, but much less hassle!
Is there a signed buyer’s representative agreement?
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