This question came in earlier today. It’s actually pretty simple, if you’re an insider, not so simple if not:
I am selling my house with one agent and the buyer does not have any agent. My agent brings the buyer and they put in an offer. How much commission will I owe to my agent? Is it 5% or 2.5%?
It depends on how the listing contract is written. If your agent used a boilerplate form and didn’t change it to reflect a sale with no cooperating agent, then he will take the full commission, whatever you negotiated.
That much is easy. Unfortunately for your agent, he may be entering into an undisclosed dual agency with you and the buyer, exposing him to considerable legal peril. In that circumstance, we would insist that the buyer find some sort of professional representation — to make sure the buyer is represented, to make sure that your interests are not compromised, and to cover our own behinds.
Either way, the commission you pay is going to be the same unless you made prior arrangements for a variable commission.
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jf.sellsius says:
Always read the contract and re-read the fine print.
September 26, 2006 — 11:04 am