Return to the Buying and Selling Homes Forum | Post a Follow-Up

Reasonable fee for my realtor when buying FSBO?

Posted by LeahRWH (My Page) on
Mon, Aug 6, 12 at 12:52

A couple months ago, an investor bought a HUD house I was interested in. I offered to buy it from him, and we tried to work out a deal, but he had some issues with closing the place, so I kind of gave up on it. After giving up on that place, I found a nice buyer's agent to help me look around. She's taken me through three houses in the past few weeks (I have fairly odd criteria, so three houses isn't as few as it sounds like), and she's been helpful with my questions.

Now the investor has contacted me again, with the house properly closed and available for sale, and I'd like to go ahead and buy it for the same price we agreed on previously ($156,500). Trouble is, there were no agents involved then. Technically there still isn't - I found the house on my own, negotiated on my own, etc., before she was even in the picture. But my realtor has been very nice, and I'd hate for her to have worked for me the past couple weeks for nothing. Plus, I would really like to have her help with the paperwork, closing process, etc. What would be a fair fee to offer her to help buy this property?

Follow-Up Postings:

RE: Reasonable fee for my realtor when buying FSBO?

The agent may not have any choice.

Her broker is the person that gets to decide.

RE: Reasonable fee for my realtor when buying FSBO?

Did you sign a buyers's agreement? If you did the agent might legally be entitled to the full commission, depending on the wording. If you did sign a contract, you could have excluded certain properties that you had already contacted on your own.

RE: Reasonable fee for my realtor when buying FSBO?

Is the seller not offering to pay a commission? If not, go to him and ask if he would split the commission 50/50.
Brickeyee... not all BICs dictate what % their agents can charge.

RE: Reasonable fee for my realtor when buying FSBO?

never had this come up in my own experience, but I think I probably would be happy with 2%;

I'm figuring 1% for finding the property,
1% for what handling paperwork,
1% for what I call "buyer education", which amounts to getting you through the process.

I remember when you were thinking about approaching this guy;
I hope everything works out!

RE: Reasonable fee for my realtor when buying FSBO?

I talked to my agent about it, and it looks like brickeyee was right, so the fee will be 2.5%. We spoke to the seller again, and we're going to bump up the price enough to cover the fee while allowing him to net the same amount, so we don't have to pay it out of pocket. Thanks!

 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!

Return to the Buying and Selling Homes Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Please review our Rules of Play before posting.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.

Learn more about in-text links on this page here