Interaction With Real Estate Agents
One of the most popular reasons why homeowners choose to sell their house without the assistance of an agent is to avoid paying an agent's commission. In the US the agent's fee typically makes up 6% of the selling price of the property.
When a homeowner decides to sell their home without a real estate agent and a buyer who is not working with an agent wants to buy the home, the seller pays no commission because no real estate agents are involved.
If a buyer who is represented by an agent is interested in a FSBO home, that buyer's agent may request the owner pay him or her a commission, or finder's fee, for bringing the buyer. The seller may choose to either pay the fee or refuse. The seller is not legally obligated to pay any commission. If no agreement is in place with either the home buyer or the owner of the FSBO property, the buyer's agent may not necessarily be compensated in the transaction, or may be compensated by the buyer.
Read more about this topic: For Sale By Owner
Famous quotes containing the words interaction with, interaction, real, estate and/or agents:
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—William James (1842–1910)
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—Agnes E. Meyer (1887–1970)
“The real leader has no need to lead—he is content to point the way.”
—Henry Miller (1891–1980)
“Sweet are the thoughts that savour of content,
The quiet mind is richer than a crown;
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The poor estate scorns Fortune’s angry frown.
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“Modern man’s capacity for destruction is quixotic evidence of humanity’s capacity for reconstruction. The powerful technological agents we have unleashed against the environment include many of the agents we require for its reconstruction.”
—George F. Will (b. 1941)