FSBO question

[longsally111]

What is the name of your state? South Carolina

After having my home up for sale for 1 year with an agent, it is now up on the FSBO website. I did nto state that I would pay a realtor as I am selling it myself. If they bring an agent, do I have to pay them or would that be their responsibility?

 

[HomeGuru]

What is the name of your state? South Carolina

After having my home up for sale for 1 year with an agent, it is now up on the FSBO website. I did nto state that I would pay a realtor as I am selling it myself. If they bring an agent, do I have to pay them or would that be their responsibility?

**A: read your listing contract for the answer. And don't you mean if they bring a BUYER?

 

[CraigFL]

If they would bring an agent, the agent most likely would be a buyer's agent and not a seller's agent. If it were a buyer's agent, the cost would be paid by the buyer. If it was a sellers agent, it would be very likely they would be after you to sign a single party listing before the house was shown to them so that their commission would be paid(by you).

 

[nextwife]

I sold via a limited service listing and the house was posted on MLS. The "By Owner "part was that I do all the work, negotiated the contracts, etc., and the broker put it on MLS for a flat fee. I was HAPPY to pay the broker a co-broker share for bringing me a qualified buyer. He deserved the fee, because he did ll the work needed to find me my buyer! And the place got sold quickly and smoothly.

The answer is in your contract. Many places require you to agree to pay a co-broke if your home is to go on a listing such as MLS.

 

[longsally111]

well, there is no contract. I paid 149.00 and they placed an ad on the GGFSBO site with pics, put a sign in my yard and let me download sellers disclosures, etc.....I am not on the MLS. I can put myself on the MLS for 400.00. I did think about getting a broker to do that for me though ( listing me on the mls) for a small fee and that way, he could prequalify people for me as well. I did write the original question wrong. It is a buyers agent that would come, however, I was told that some people ask you to split the 6% fee with them.

 

[HomeGuru]

well, there is no contract. I paid 149.00 and they placed an ad on the GGFSBO site with pics, put a sign in my yard and let me download sellers disclosures, etc.....I am not on the MLS. I can put myself on the MLS for 400.00. I did think about getting a broker to do that for me though ( listing me on the mls) for a small fee and that way, he could prequalify people for me as well. I did write the original question wrong. It is a buyers agent that would come, however, I was told that some people ask you to split the 6% fee with them.

**A: did you read my post and did you read your listing contract?

 

[longsally111]

did you read mine? there is no listing contract with FSBO

 

[CLJM]

longsally111....
As a prevous REMAX Realtor in SC, I have worked with many buyers interested in FSBO homes.
Most sellers were quite willing to pay a commission to a buyers agent that brought them a buyer and declared it right up front on their advertising--- " We welcome Buyers Agents". Showing a FSBO to my buyers was as simple as a telephone call asking the sellers to allow me to show their home to my prospective buyers. If my buyers wanted to submit a contract and there was no before hand agreement as to my commission....not a problem, my buyers just wrote my commission into the contract, which of course is always negotiable. I have never had a seller turn my buyers away because of not wanting to pay a commission.
Keep in mind though, as a practice, many Realtors do not care to show FSBO homes and prefer instead to show only MLS homes. As for me, once I became an agent for the buyer, I was always led to perform what is in THEIR best interest no matter whether an MLS home or a FSBO home.
PS..Make sure you read your previous listing agreement for the timeframe of which your previous Realtor is protected for his/her commission.

Good Luck to you...

 

[longsally111]

Thank you for your response. It is my former realtor who suggested the FSBO site. I would have NO problem helping out with a commission but it is not built into my price. I would have to add it back on soooooooo.

 

[HomeGuru]

did you read mine? there is no listing contract with FSBO

**A: you signed a listing contract BEFORE the FSBO listing. That's the contract I was referring to. Most listing contracts ie. Exclusive Right To Sell have a clause requiring the payment of commission X amount of days after listing termination. Your post stated the home was lsited for one year but did not state when the listing terminated. It could have been in 2006 or just last week. So you see, there are specific reasons for my specific questions as an attorney that specializes in real estate law.