Posted on: 29 July 2020
In your search for a house to buy, you might come across a home you like that is not listed on the real estate market. Instead, the homeowner might be trying to sell it for sale by owner (FSBO). If you find a house FSBO, can you bring your real estate agent to see the house? If you buy it, will the homeowner pay the agent a commission? Before you view a house FSBO, it might help you to know how this works when a buyer has a real estate agent.
Homeowners Sell FSBO to Avoid Paying Commissions
When a person decides to sell their home FSBO, it is usually for one reason — to avoid paying a commission. Homeowners feel like they can make more money selling their homes without agents, so they skip hiring realtors. Instead, they attempt to sell their properties themselves. If a homeowner can sell without an agent, they can save thousands of dollars by not paying the necessary real estate commission.
Find Out if the Seller Welcomes Buyer's Agents
While homeowners sell FSBO to save money, many are not opposed to allowing real estate agents to show their homes. These homeowners might list their FSBO homes with a statement that says they welcome buyer's agents. Welcoming a buyer's agent means that the homeowner is willing to pay a commission if an agent finds a buyer for the home. The commission is likely less than the typical amount, but it is still something. Most agents charge 6% when they list homes and sell them, but an FSBO homeowner might be willing to pay 3%.
Work Out a Deal with the Seller and Your Agent and Put It in Writing
If you find a person that is willing to sell an FSBO home with an agent, it would be helpful to discuss the deal and put it in writing. It is crucial to write down the terms of the deal, so everyone knows what they are. By doing this, you can avoid confusion when closing on the property, and everyone will know what to expect.
It is possible to buy a house FSBO with a real estate agent, and it is better to use an agent than to not use one. If you have questions about FSBO homes or homes listed on the market, talk to a real estate agent to learn more about buying a house.Share