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Realtor has offered to buy my house do I pay him commision? Please see details.

I spoke with realtors and chose one. The realtor I chose has not listed the house. We were going to do that this week after he got pictures. He called today and offered to buy my house from me and lower his commision from 6% to 3%. Should I even pay 3% as he hasn't done anything except to buy it?
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October 15 2013 - US
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Answers (6)

Whether he listed it live yet or not - is not the issue.  Did you sign a listing agreement yet?  If you did you owe the commission if the home sells.

The agreement does not give you a freebie if a Realtor buys your home. After all they are consumers as well as agents.

Should I even pay 3% as he hasn't done anything except to buy it?
What do you expect him to do moving forward? 
Fill out all the paperwork and assist you in getting it to closing? So he is still obligated to do something.

Is he not the buyer AND the buyers agent?  If a buyers agent brought you a buyer would you be willing to pay 3%? 



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October 16 2013
This is a sticky situation. Who is going to handle your side of the paperwork and make sure that the deal is done correctly?
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October 15 2013
If you haven't signed a listing you may not have to pay a commission. If you do pay 3% commission be sure to bump the price by 5%. What did this Realtor offer to pay you? His estimate? Your dream price? How many REA's gave you price opinions? Etc...? Are you experienced... (Hendrix reference)?
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October 15 2013
Even though you're selling the home to your Realtor, they may be obligated to pay a portion of their commission to their brokerage.

But I would still press to lower the commission to a rate that works for you. I have just one question. Who determined the value of the home? If it was the agent, you might want to opt for an independent appraisal (which will cost you 300-400 dollars).
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October 15 2013
If you have signed a listing agreement you are obligated to pay the brokerage.
In any case this is a bit difficult, who is representing you now? Dealing with a realtor as buyer probably is THE reason to get representation.
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October 15 2013
If you didn't sign an listing agreement then you didn't agree to pay a commission.  It might be in your best interest to get another Realtor to finish the deal, just to make sure you have all the information and someone who is looking out for your best interest.  Do you have all the comps in order to make a judgment on the offer?  Do you know all the items that can be negotiated in the contract?  You want to make sure you don't feel you have been taken advantage of when the deal is done, it's in everyone's best interest including the agent making the offer to bring in another Realtor.
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October 15 2013
 
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