flat fee if realtor finds FSBO

Ral_DSeptember 17, 2013

Has anyone written a contract where a realtor gets a flat fee for finding land that ends in closing a deal? Often, sellers don't want to work with (share profits with) an agent when they first put out that FSBO sign and agents would not make these properties known to potential buyers.

If I (as a buyer) was willing to contract with a realtor for a flat fee for any land (FSBO or not) brought to my attention that ended with a sale, I would have access to more of the market.

Has anyone had success with this approach or suggestions for contract wording? I understand that I would have to find a realtor that would accept such a contract. I am thinking the flat fee would be half-way between 3% of the lowest amount I hope to pay for desired land and 3% of the most I am willing to pay for land.

Ralph

This post was edited by Ral_D on Tue, Sep 17, 13 at 9:26

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linda117117

In my area, its not unusual for land listings to offer compensation of 5%. Typically, in my area, mobile homes and land have "customary" commission rates of 10%. Why not just make it 3% of the selling price. If you offer something enticing enough, an agent will go the extra mile, knowing they will be compensated. Of course it really depends on the price range you are talking about.

This post was edited by linda117 on Tue, Sep 17, 13 at 14:14

    Bookmark   September 17, 2013 at 2:01PM
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weedyacres

I've got no personal experience, but I think that's a great idea, and how the system should work: buyers paying for the services of an agent that's hunting for property for them.

    Bookmark   September 17, 2013 at 6:09PM
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