Would we owe the realtor anything?

[Amie D.]

My brother, sister and I inherited a house and it's been on the market for over a year now (it's in a smaller town in which real estate has not improved). We recently got a low-ball offer, went back and forth a couple of times and then the buyer walked. My sister mentioned to me that maybe we should have just sold for his last offer.

So, I'm considering buying out their shares of the house at the last price point the last potential buyer offered. Then, I would rent it out.

My question is, we wouldn't owe the Realtor anything if we did this, correct? The house is in probate and my Dad's estate has a lawyer, who I believe would handle the details if we did this (probably a quitclaim deed?). I am one of the personal representatives of the estate so I wouldn't imagine it would be complicated. I'm prepared to pay them cash for their shares.