When a real estate agent is showing a for sale by owner home the commission is negotiable!
Selling for sale by owner (FSBO) without a Realtor does have many advantages, the biggest of which is the savings in paying a real estate agent’s commission. However, many buyers still prefer to have a buyer’s agent help when searching for a new home. Buyer’s agents will show homes listed on the MLS and homes listed on FSBO website’s like SimplyFSBO.com
When your home is listed for sale by owner and a buyer’s agent contacts you to show it, they will ask if you’re willing to pay a commission if the buyer makes an offer and you accept. The commission will only be paid if their buyer writes an offer, not anyone else. The good news is, the commission is 100% negotiable and you’ll pay much less than if you were to list your home with an agent.
Most buyer’s agents will ask between 2.4% to 3.5% commission in the Quad Cities, Des Moines, and Iowa City FSBO markets, but again, these are NOT set rates and it’s negotiable. The percent of commission most likely will be lower on higher priced homes and higher on lower priced homes. It’s important to keep in mind that buyer’s agent is only representing the buyer and not you, which is why it’s a reduced commission.
Nobody wants to pay a commission, but when a buyer’s agent shows your home, it’s to a qualified and pre-approved buyer. The buyer’s agent will also write up the offer, schedule inspections, and see things through all the way to closing.
Our goal is to help you sell FSBO but we always recommend letting the real estate agent show your home because their buyer might make you an offer you can’t refuse AND you can always reject or counter the offer if it’s not enough money.
309-762-9000 (text or call)
Bob Strupp is a licensed broker associate in Iowa & Illinois brokered by Realty ONE Group Opening Doors, located in Davenport, Iowa. Bob Strupp does NOT engage in expressed agency or implied agency relationships with unrepresented buyers or sellers advertising on SimplyFSBO.com. Realty ONE Group Opening Doors is independent of SimplyFSBO Inc. SimplyFSBO is not a real estate brokerage.
SimplyFSBO Inc. and its representatives do NOT engage in expressed agency or implied agency relationships with unrepresented buyers or sellers advertising on SimplyFSBO.com. SimplyFSBO Inc. is NOT a real estate brokerage.
No Commissions, No Closing Fees, No Hidden Fees, and No Cancellation Fees.