When a real estate agent is showing a for sale by owner home the commission is negotiable!
Selling for sale by owner has many advantages, including avoiding real estate agent commissions. However, many buyers still prefer to work with a real estate agent when searching for a new home. Real estate agents can show just about any home for sale, including homes listed on the MLS or FSBO websites.
When your home is on a FSBO website, the buyer’s agent will contact you directly and ask to show your home. Before they show it, many will ask if you’re willing to pay a commission if their buyer were to make an offer. The commission will only be paid if that specific buyer purchases your home – not other buyers. The good news is, the commission is 100% negotiable and you’ll probably pay much less than if you were to list your home directly with an agent.
Most buyer’s agents will ask for a commission between 2-3% in the Quad Cities, Des Moines, and Iowa City FSBO markets, but there is no standard rate – it’s negotiable. It’s also important to keep in mind that the buyer’s agent is only representing the buyer and not the seller, which is why it’s usually a reduced commission. In the past, when sellers are unwilling to pay the commission, the buyers can pay it directly to the real estate agent or increase their purchase price enough to cover the commission for the seller – for example, making an offer above asking price so the seller has more money to cover the cost of the real estate agents commission.
Our goal is for you to sell FSBO and save money on commissions, but we always recommend letting real estate agents show your home too. You can always negotiate with them and many times, the agent’s buyer will make you an offer you can’t refuse.
309-762-9000 (text or call)
Bob Strupp is a licensed broker associate in Iowa & Illinois. Bob Strupp does NOT engage in expressed agency or implied agency relationships with unrepresented buyers or sellers advertising on SimplyFSBO.com. 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.