Buyers' agents are paid by the listing agent through co-op fee offered in the mls in most cases. The buyers should ask their agent how they will be paid when they sign the agency contract.
This post is meant for those cases where the buyer does not have to pay the buyer agent .
Why would buyers go directly to a home being sold directly by the owner ?
There could be many reasons :
1. The house is unique and there is no other house like it. Their agent would not be able to show a similar house.
2. The buyers have been waiting for a house to come up for sale in the community as not many homes come up there.
3.. The seller has listed the house at a low price to sell quickly, and similar houses are going for a lot more.
and the most important ... 4. buyers think they can save the money that the seller would pay the agent if it was listed and offer a low price . Buyers offer x% less because they think the owner will not be paying the agent.
Why do home owners try to sell their home on their own ?
The most important reason is they want to save the commission.
If #s 1, 2 and 3 apply to your home , you should be able to sell your home but if #4 is the reason please read reason #4 above.
If both you and the buyers are looking to save the same amount of money who is going to win ?
Buyers prefer to work with a buyer agent who will show them all homes on the market that they would like to look at based on the criteria they suggest. Buyers do not just look at one home and buy it. Most buyers work with an agent. In a buyer's market it is difficult to sell on your own. Buyers are nervous about dealing directly with home owners and may not trust the seller.
Most buyers prefer to work with an agent when they buy a home.
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