Buying a FSBO when you have a realtor

[Donna Salmiery]

I found a FSBO that I am interested in but I do have an agreement with a realtor. The property listing says 3% broker participation welcomed. Can anyone tell me what that means? I realize I may have to pay my realtor's commission, but am hoping my closing costs wouldn't be double what I have paid on my other properties that were on MLS. Also, in the past I have negotiated closing costs with the sellers. I am assuming that is not an option here? I am waiting to hear back from my realtor to proceed, but wanted to have a little more info so I can make educated decisions. Thanks!