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Updated almost 5 years ago on . Most recent reply

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Kim Therrien
  • Queensbury, NY
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Tips for asking FSBO to pay my seller's agent commission

Kim Therrien
  • Queensbury, NY
Posted

Upstate New Yorker about to make an offer on my first deal. FSBO seller doesn't want to pay commissions. My attorney tells me I'm brave to not hire an agent for my first deal. Any tips on how I can negotiate with the seller to convince her to pay the buyer commission. Already have financing and a verbal agreement on price ( $30k under assessed value).

Thanks is in advance for any advice offered! 

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

You are an investor making an offer or an agent making an offer, or both? If you are an investor and don't have an agent, what do you need a commission for? The whole point of a FSBO is so they don't have to pay commissions so there is no good script for getting it done. If you aren't using an agent, how do you know the deal is a good one? Most FSBOs are overpriced and under-repaired. Do not give up your rights to a full inspection, that will kill you on a FSBO. Assessed value is irrelevant to value, make sure you know where the assessed value stands in your area in relation to actual value based on sold comps.

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