This is the third article in a blog series on buying a condo for sale by owner. So far, we’ve covered Part 1 and Part 2.
Buying a Condo for Sale by Owner – Is the Seller Offering a Buyer Agent Commission?
As you’re contemplating whether or not to use a real estate agent when you’re buying a FSBO, one of the most important things to find out is whether or not the seller is offering a buyer agent commission. In a regular real estate transaction where a property is being professionally listed by an agent, the seller pays for both the listing agent’s and buyer agent’s commissions. The listing commission goes to the listing brokerage, and is split between the broker and agent, and the buyer agent commission goes to the buyer agent’s brokerage, and is split between the broker and agent.
Particularly savvy FSBO sellers understand that their marketing exposure increases a ton when they offer a buyer agent commission, since they’re able to expose their property to hundreds and thousands of potential new buyers this way.
Read Part 4 of my blog series on buying a condo for sale by owner.
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