To pay the real estate agent or not?

[Account Closed]

Hi guys - I need your help. I have an investment property my husband and I own that we have been renting out for the past 2 years. When the tenants moved out a few months ago, we gave them the proposition of buying the house; if they were interested. We explained that we would be able to give them a very good deal given that we wouldn't need to use real estate agents, etc. At the time, they were not interested.

Fast forward a month or two, and I have since hired a real estate agent who has been to house the house a few times to meet me, as well as give me advice here and there on the renovations, market, etc. However, the house is NOT officially listed yet - as we have not finished our renovations.

Yesterday, one of the previous tenants stops by the house (while we were there working), and started talking to us about the possibility of buying the house. She has since talked me to today and is very interested in the house - and would like to talk numbers.

My husband and I are ECSTATIC about this - she is newly engaged, her and her husband are great people, this would be the perfect starter house for them - we would be getting a great deal, as well as they would be getting a great deal.

Here is where my question to you all is - how to do I handle this with the real estate agent? She is a referral from a fellow REI in the area who is a close friend. She has been amazing, and I do not in any way want to tamper this relationship. Have any of you been in this type of situation before? I am thinking I will just call her up and be open and honest with her about the situation. Possibly offer her a $1k for her time??

Any thought/suggestions would be helpful. Thank you all!
Shelby

[Wayne Brooks]

Shelby, glad you guys worked it out. But if you want to protect her, don't post any specifics about her or the address here. Your agent illegally took payment directly, without it going through her broker.