Can I Buy a Home from a FSBO and Still use my Agent?
As a buyers agent I help first-time buyers and repeat buyers find the right home for them and sometimes that means finding them a FSBO (for sale by owner). Just because you are using a real estate agent doesn’t mean that you are limited to the homes and properties listed on the RMLS. There are hundreds of homes and properties listed in local newspapers, on websites such as craigslist and back page as well as simple flyers at the local grocery store advertising homes for sale by owner. I don’t want my buyers to miss out on the right property just because I’m only searching in the local listing service.
Licensed real estate agents are the only ones that are allowed to post on the professional MLS. Our regional multiple listing service only accepts listings from licensed agents. There are many sellers that might choose to go with the discount broker that simply uses their license to list the property and let’s the homeowner facilitate the transaction. There are also discount brokers that might list the home and facilitate a transaction but do very little in the way of marketing and advertising the property. The reason homeowners might choose this route is to save money but still put their home in front of thousands of potential buyers and buyers agents. While this is perfectly legitimate, I have found that these sellers often times do not have the knowledge or experience to facilitate a real estate transaction and the buyers agent still needs to assist on both sides.
If you’re a buyer and you find that searching through the local MLS is not delivering what you’re truly looking for I have no problem with you looking to newspapers or through word-of-mouth, as I will do the same to find the right home for you.
Buyers agents get paid from the seller of the property so this can get a little tricky when you’re buying a home directly from the owner. A listing agent typically splits up the commission, half to the listing agent and half to the buyers agent. When there is no listing agent, the buyers agent needs to negotiate with the seller directly about any potential compensation. As a buyers agent, I usually facilitate most of the transaction for both sides, confirming that the right documents and contracts have been used and that everyone is protected. This usually warrants the seller to compensate the buyers agent with a certain percentage of the sales price. Most sellers are relieved to have a knowledgeable and experienced real estate professional to answer questions and double check that everything is being handled correctly and legally.
As a buyer, it is not your responsibility to negotiate with the seller on the buyers agent’s commission. As long as you find a home that suits your tastes, your needs, and your budget, it is up to the buyers agent to facilitate the transaction and negotiate on your behalf regardless of whom we are actually negotiating with.
My goal is to find you the right house within your budget and protect you on your side throughout the whole transaction. Feel free to give me a call at any time to discuss preapprovals, particular homes you may have seen would like more information about, or any real estate needs in the Portland metro area.