Buying FSBO w/out realtor

3 months ago

We've been trying to find a house to buy for 10year. My husband has a large service truck he parks at home and it has been difficult finding a property that works, in a small town, not many choices. Our current realtor (4th) has showed us many properties and has done a few offers. There is a FSBO home that is perfect for us 1 mile down the rd. We all, and HE passes it everyday. Always had an excuse not to show us. He totally missed the mark on picking houses. Well, I finally called the owner myself and it checks off absolutely every box on our want list! (except my pool) So, I made an offer and its been the smoothest process I've ever been in buying a home. My question. As I'm a little upset that we've been driving past our dream home for 6 months, finding out, that because they do not want to deal with a realtor, that he wouldn't let me have anything to do with it.
Now he wants 2.5% for nothing. He cost us money by having us extend our lease because of not finding a home yet. All the while.... It was right there!!!!! I dont have to pay him do I?

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Comments (14)

pudgeder
3 months ago
Did you sign any contract w/the realtor?
Gina Nagode
Original Author
3 months ago
I dont think so. And what if seller refuses to work with him and I can't get the home for some reason. Can I fire him?
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Lyndee Lee
3 months ago
Did you involve your realtor in any way in making the offer? If you have brought him into the deal he should be compensated in some fashion. Otherwise, the realtor has no right to expect money if you found the home without his participation. Now if you have signed an agreement specifically with the realtor to be your buyer's agent, then he is your agent and this situation should be covered in that agreement. In my area, buyer's agents aren't common. A hungry realtor would have knocked on that guy's door and tried to arrange a deal for a small percentage but if he didn't, he shouldn't expect a full commission. If the house is right, offer the realtor a fee to do paperwork or just call a local real estate lawyer
Gina Nagode
Original Author
3 months ago
Ok exactly what I thought. No he had no participation what so ever. Actually steered us away from looking at it. Im using a local real estate attorney that has answered all of our questions and more. Such a relief not having to wait on everyone else. Bing, bang, boom. Done!! Thanks for the answer.
Lala
3 months ago
Don't forget to get an inspection :)
Gina Nagode
Original Author
3 months ago
yes we did that already. thank you
homechef59
3 months ago
If there is no signed buyer's agreement, you owe the realtor nothing. He knows that. You will piss him off royally. Legally, the realtor has no contract with you or the seller, express or even implied. Your closing attorney will assist you with this if it becomes a thorny problem.

Good for you for showing imitative. Enjoy your new home.
Gina Nagode
Original Author
3 months ago
Thank you!!
midcenturymodernlove
3 months ago
last modified: 3 months ago
You are legally bound to this agent ONLY if you signed a Buyer's Agent agreement with him in most states. You will have a copy of that document.

He can make an argument that he assisted in the sale if he took any step in furtherance of this sale. He has to demonstrate that HE was the procuring cause of the purchase. Sounds like he didn't even show it to you.

If he refused to even try to show you a home you were interested in because it was FSBO, he's not a good agent anyway.

I would simply state that he was unable or unwilling to even procure a showing of this property, and that you made the deal happen, and (IF TRUE) you are not bound by a Buyer Agent Agreement, so you proceeded into this transaction. You were forced to make the deal happen yourself.

Check your documents.

I agree that FSBOs have been my smoothest purchases as well, but you do have to know what you are doing at each step and how to legally protect yourself. Have a real estate attorney (not just any attorney) look over the documents.

It depends very much on the wording of your document as to whether he will attempt to pursue any kind of compensation. Most buyer-broker agreements will include ALL purchases by the buyer during a set period of time - and they stretch that period of time out longer than the contract period, hoping you 1) won't notice and 2) they can make some kind of case that their knowledge contributed to the sale. Watch out for those kind of provisions and always strike them. Brokerage documents are written to protect the brokerage, not the buyer. If you had signed a Buyer Agent (or Broker Agent) Agreement, a provision would have been included that you owe compensation even if you purchase a home directly from the owner. It is irrelevant that the Seller won't pay any commission - YOU owe it, if you buy FSBO, if that is included in your contract.
Gina Nagode
Original Author
3 months ago
can I go thru with the sale and compensate him later?
JuneKnow
3 months ago
last modified: 3 months ago
No. If you signed a buyers agent agreement, that fee must be part of the closing, and accounted for then. The agent’s broker will insist, and no title agency will allow a closing to happen that ”promises” to pay later. Not without you funding an escrow account, for some reason. You will have to come up with the fee, or the seller must agree to have it come out of the sale proceeds.
homechef59
3 months ago
Gina, Did you sign a buyer's agreement?

You haven't said yes or no and your last post has me wondering.

If you did, chances are pretty good that you owe him the 2.5%.

You must talk to your closing attorney and get a legal opinion.
Scotty D
3 months ago
It’s common in many areas that agents include the buyers agreement, they act like it’s the accepted way, but it’s all negotiable when you start the relationship.
midcenturymodernlove
3 months ago
Gina, I don't understand this question: " can I go thru with the sale and compensate him later?"

Did you sign a Buyer's Agent Agreement (Might be called Broker Agreement) or not?

Buying FSBO w/out realtor

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Gina NagodeOriginal Author

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