Q: We have a real estate agent that has been great, always helpful, willing to go out of his way to help us out. He has shown us multiple houses at whatever time is convenient to us. He has been great and we would recommend him to anyone. However we found a house for sale by owner on our own through Craigslist. We want to make an offer on this house, will the real estate agent that has helped us out get paid at all for this? We would feel bad if he got nothing after all the work he has done helping us out.
?Anonymous, Bristol, CT
A: Wouldn?t you like that agent to keep looking after your best interest and the close of the sale for you and start your move? YOUR AGENT IS STILL YOUR AGENT! You can negotiate with the seller to include a commission compensation or work out a sum you pay directly to your agent and know everything will be handled properly. Buying a house is about the biggest purchases you will likely ever make and having a trusted advisor looking out for your financial back only makes sense.
Neither you the buyer or seller in this transaction really are up to date with the recent law changes that affect a sale and by the time a mistake or over site is found it will be too late to do anything differently. Your agent may actually save you a ton of money in the long run beyond the compensation he is due for quality work. You have the power to make it happen.
Ilene Crites is a Realtor? in San Bruno, CA.
A: In the Exclusive Buyers Contract, there?s a section where the Realtor can put an amount in for finding a home not on the MLS. If you have all signed that, then your agent should be the one to approach the seller and ask about working with a Buyers Agent for whatever %.
Hope this helps
Connie Covert is a Realtor? in Kansas City, MO.
A: There are two ways you can handle this. The agent can approach the Seller and see if they?ll agree to pay the agent?s 3% commission. However if the agent didn?t accompany you on the showing, they may not be quite so willing to do that. Otherwise you can certainly pay your agents commission as part of your closing costs. It?s always helpful to have a Realtor go with you to see a for sale by owner because then they can make sure that Seller has given you all of the property disclosures required by state law, and do the negotiating on your behalf after reviewing the comparable sales in the area.
Liane Jamason is a Realtor? with Keller Williams Realty in Tampa, FL.
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