Home sellers who solicit the expert assistance of real estate companies are obliged to give a commission once the property is sold. Some home owners do not want to be burdened with this problem thus they opt to sell their homes by themselves. But what should you do if the buyer who purchased your home has an agent? Are you obliged to extend a commission to the agent? The decision on this matter rests solely upon your shoulder. If you opt to not give a commission, it is best that you discuss this with the agent first. Stress that you do not want to be listed under his agency and do not affix your signature on any document. He should either respectfully abide by your decision or he can suggest alternative solutions. You can thresh out the issue further until you both reach a mutually agreeable arrangement. In case you decide to give him a commission, make sure that the rate is specified, and that the details of this is stipulated explicitly in the Buyers agreement. Specify who will be shouldering the commission (if it will be a percentage of the sales price, or an amount that will be added on to the selling price) and make sure that the buyer is aware of this arrangement. Bear in mind that the commission rates are not fixed and should always be subject to negotiation. If you encounter an agent who insists on a commission, you should report his unprofessional conduct to his real estate agency. |
