Finding own buyer / realtor contract

cymraesJuly 20, 2010

We recently listed our farm for sale with a realtor. Prior to doing this, we listed it on some equine websites ourselves. Now I have someone seriously interested who contacted me from our own listing. I can't find anything in the realtor contract addressing this, so do we still have to pay her commission? She has not shown it yet at all. I was hoping maybe to negotiate a smaller percentage if she helped with the closing, but since we found our own buyer I don't feel we owe her the entire 5%.

Thank you for reporting this comment. Undo
Billl

Read your contract carefully. Your agent is likely entitled to a full commission for any sale while the contract is in effect.

    Bookmark   July 20, 2010 at 4:46PM
Thank you for reporting this comment. Undo
guvnah

Count yourself lucky to get a quick sale & not have to handle the paperwork - if it even comes to that - it's not like they've made an offer. I think you can only exclude people you've actually shown it to prior to the contract & you probably would have to give a list of names up front for any kind of discount.

    Bookmark   July 20, 2010 at 5:30PM
Thank you for reporting this comment. Undo
qdwag

Unless you spelled this out in ADVANCE with your realtor, i think you are SOL

    Bookmark   July 20, 2010 at 7:51PM
Thank you for reporting this comment. Undo
cymraes

I'm not even going to worry about it until after they come to look, which isn't for 3 weeks as they are out of State. Our realtor did say she would negotiate the commission if that is what it takes to make a sale happen, so we may be able to get her down a percent or so. As guvnah said, we would be lucky to get a quick sale regardless.

    Bookmark   July 21, 2010 at 4:36PM
Thank you for reporting this comment. Undo
linda117117

It depends on the type of contract you have. Most likely its an Exclusive Right to sell and you would owe commission to the listing office no matter who finds the buyer. (Does your contract say Exclusive Right to sell, in this case you would owe the commission, if it says Exclusive Agency, you are able to sell on your own without paying the commission). If its ERTS, don't bother showing the potential buyer the house. Have a discussion with your agent about how this came about and negotiate the commission for this particular buyer. I'm sure she will negotiate her commission down since the property was just listed and she doesnt have a whole lot of time invested in it yet. Do not show the property to the buyer, let your agent handle it from the beginning.

    Bookmark   July 22, 2010 at 8:10AM
Sign Up to comment
More Discussions
Being Sued for Home Sale
We had our home built in 2003.It was our dream home.Half...
camsgt
Best time to List a House
Is there a best time to list a house for sale? We have...
hayden2
Why would nosey realtor say these things?
It is clear my house lacks a wow factor. I over de-cluttered...
belfastbound
Negotiating realtor commission
We are getting ready to list our house in a week or...
hollynla
For those of you who have swapped out your brass hardware....
For those of you who have swapped out your brass hardware,...
Lizzie
People viewed this after searching for:
© 2015 Houzz Inc. Houzz® The new way to design your home™