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Answers (9)
- David D'Onofrio, "DavidReMaxRealtor"
- Contributions:57
That's a great point. The National Association of Realtors report that FSBO's are down to 11% from 13% a year ago. And part of the reason is the difficult market for sellers right now. You do NOT have to sell your home to a buyer with an agent, and if the buyer is represented by an agent, a courteous agent will tell you up front that they are working with the buyer and that they require X% for their service. Of course, Realtors often have the advantage of bring you a prequalified buyer, that is, one that either has already provided proof of cash funds, or a prequalification letter for a mortgage. The time it could save you in getting the sale done could be more than worth the 3% for the just one agent! Plus they will be able to lend their professional experience to getting all the paperwork done and helping with arrangements for the closing.
- Geordy Rostad, "geordy"
- Contributions:991
I'm guessing that you've are trying to sell your home for sale by owner and an agent is approaching you saying that they have a buyer perhaps and asking if you'll pay a commission? You're not obligated to take these sorts of offers if you don't want to but you might generate a quicker sale if you do.
- Michael Austin, "M.Austin"
- Contributions:67
Not unless you have entered into a contract. When a property is listed for sale, it is assumed that a commission will be paid to those who are working hard to bring a buyer.
- David D'Onofrio, "DavidReMaxRealtor"
- Contributions:57
You should not be obligated to pay an agent unless you either: a) have a written single agent (as buyer) or listing agreement (as seller). However, if an agent has been providing you with a service for a period of time, and they are the "procuring cause" of the transaction -- i.e. they showed the buyer the home that is being purchased -- then they may be due their share of the commission, according to the terms of the listing agreement. If you were just asking if you need to pay an agent for services, the answer is no. Real estate agents worth for commission unless otherwise expressed in a written contract.
- Julia Marcyes, "JuliaSellsHomes"
- Contributions:269
Did you sign an agreement to pay an agent?
Your answer to this question will likely be the answer to your original question.
Your answer to this question will likely be the answer to your original question.
- Robert Merhaut, "Robert Merhaut"
- Contributions:348
Yes. You need to pay every agent in the world.
- Spencer Rascoff, "spencer"
- Contributions:2093
Hi Gedney Island,
More info please?
More info please?
- Ann Ferguson, "aferg1"
- Contributions:19
Can you give us the circumstances? There is no blanket answer for such a broad question.
- Simon Mills, "Mills Realty"
- Contributions:1858
If you have posted your property on Zillow then the answer is no. If you have listed your property through an agent then the answer is probably yes, but you should talk to your agent or review what you have signed. There is no law that states if you sell your home that you have to pay a commission. A commission is only due an payable if you have entered into a contract agreeing to pay a commission.
Am I obligatd to pay an agent?
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