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Already Got an Offer |
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I have a house ready for sale and got an offer before even getting the real estate agent set up. Do I save money by doing this alone? Or should I offer this to a real estate agent at 6% even though I found the buyers? Maybe a lesser % on the commission or a "service-fee" based payment? I need to know!!
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Many brokers will agree to include in a listing contract a provision that "no commission will be due" (or perhaps only "__% commission will be due") if the place is sold to ___. You write in the name of your would-be buyer, and you agree on a lesser commission.
You can still use a broker's services to good advantage. Two questions that need answering, for instance, and a broker can help with them:
Is the price you've been offered what the place is really worth? Hard to know for sure until you've tested it in the open market and got some response from the whole buying public. And -- can the person who made that offer really afford your home and qualify for any necessary loan? That's the sort of question an agent automatically considers, first thing, with every prospect.
Otherwise, you run the risk of getting your house tied up in a contract that eventually goes nowhere.
So if X buys your home, you can still use a broker's limited services, even though you found the buyer on your own. And if X doesn't buy, you will have the advantage of full exposure on the market to find someone else.
It shouldn't be hard to locate an agent who is happy with those terms. |
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Edith
Originally published on October 28, 2007 |
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