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Paying A Broker |
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Dear Ms. Lank: My husband and I have put our house up for sale "by owner". We live in a neighborhood where houses sell fairly rapidly. My question is: if a broker brings her clients in to see our house and they buy it, do we owe her three percent or must her clients pay her? We have been told both scenarios |
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That's because whether you pay a broker, and how much you pay, is entirely a matter for negotiation between you and that particular agent. There's no law or rule about it, and each situation may be different. Just make sure you reach some agreement (written and signed) before any prospective buyer is brought in to view your home. In addition, you should understand whose best interests that broker is legally bound to put first. Even if you pay a fee, that won't necessarily mean the agent is working for you |
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Edith
Originally published on January 22, 2005 |
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