If the buyer is without an agent from a FSBO site and you show the property and the buyer buys the property – you pay 0% commission.
We are the listing company. You are paying us a flat fee to list the property.
We are able to do this because you are taking on much of the work (filling out the paperwork, taking care of the photos, answering calls direct, etc).
If you sign up for our Assistance Option Program - we will prepare the contract and assist you with the details to get you to closing day.
Otherwise, you can handle it on your own (not recommended).
If a Realtor brings you your buyer – you will pay the agent that brought the buyer whatever you feel they are worth for your buyer. The fee is paid at closing.
Some agents ask how much you are paying before they show the home.
Some will ask after they show the home.
Some won't ask at all and will just put what they are asking.
You can tell them how much you are offering if they ask or you can say "Depends on the offer".
After they show the home, they will draw up the contract and present to you.
The buyer's agent is still doing the same amount of work for your listing as any other. You should pay the buyer agent that brings you a buyer a commission.
Most sellers are still paying the buyer agent a fair commission but you decide what the buyer agent is worth.
If it is a great offer, maybe the compensation should be great like 3%. If the offer is so, so, then offer less maybe 2 - 2.5%.
Think of it this way: You go to work every day and you have 2-3 bosses willing to pay you more than one other boss.
Which one are you going to work for and would you work for zero pay?
Some agents will put their compensation amount in the offer, some will call you for the info first and some will ask you to
present a form with the amount you are offering.
You MUST understand the new commission process as of 8/14/2024 -
PLEASE READ THIS.
Remember we are fully licensed Realtors and do traditional real estate as well.
If you are looking to buy a home in Virginia and you have us draw up the contract – we will give you up to half our commission back.
Call us for details.