Selling house private (with agent)

J

Jacques17

New Member
Joined
Jan 9, 2014
Messages
3
Reaction score
0
Good day everybody,

I need some advice on a question ask many times in many different ways and circumstances.

I advertise my house privately on the internet, newspaper and a board in front of my house. A few different agencies then phoned me and asked if they can also try and sell my house. I told them they are free to bring people if they want but I'm not signing any contract and they may not put their advertising boards up at my house.

An agent brought a buyer to look at the house and looked interested. The buyer phoned me the same day and asked if he can buy my house privately.

The agent want R930 000 and I want R860 000/R850 000. The price of the agent is too much for the buyer and he is already approved to buy at another development with another company. Will an agent accept say, R20 000/R30 000 commission instead of losing the client to another company? I am a little negotiable but don't want to lose too much.

What can we do if we reach a stale mate and the agent doesn't want to do a deal for that much less commission?

Is it lawful to bypass the agent then?

First going to try and negotiate as far as we can but after that I'm not sure what to do.

Thanks in advance
 
If you bypass the agent and they find out you're in for a world of financial hurt ... The agent introduced the buyer to you therefore commission will be due. If the buyer can't afford the agents price then walk away...
 
ToxicBunny said:
If you bypass the agent and they find out you're in for a world of financial hurt ... The agent introduced the buyer to you therefore commission will be due. If the buyer can't afford the agents price then walk away...
Click to expand...

Though this might be true, if nothing was in writting between you and the agents....
 
Commission would only be due if you signed a mandate agreement, but you should try and make a deal that suits all 3 parties.
 
Where is this house? CPT? hopefully Brackenfell area?
 
Venomous said:
Though this might be true, if nothing was in writting between you and the agents....
Click to expand...

That's where things get tricky, and is it worth the legal issues the agent will bring along if they press the issue?
 
brianj74 said:
Commission would only be due if you signed a mandate agreement, but you should try and make a deal that suits all 3 parties.
Click to expand...

The seller - both verbally and by his actions (allowing the agent to bring purchasers to inspect the house) - allowed the estate agent to act as an agent on his (the seller's) behalf.

By introducing the buyer to the seller the estate agent completed his/her part of the deal, and is therefore entitled to the commission.
 
Yes but what commission would the agent be able to justify?
 
You have probably jeopardised the sale already by discussing a lower price with the buyer. The buyer could get sour with you during the sale (usually happens) and then report you to the agent or the agent could monitor if the property was sold.
 
Contract or not, the buyer was introduced to your property through the efforts of the agent and lawgully the agent is entitled to some form of comission. It's the buyer's problem to negotiate a lower rate with the agent. Don't get involved.
 
Jacques17 said:
Good day everybody,

...
The agent want R930 000 and I want R860 000/R850 000. The price of the agent is too much for the buyer and he is already approved to buy at another development with another company. Will an agent accept say, R20 000/R30 000 commission instead of losing the client to another company? I am a little negotiable but don't want to lose too much.

...
Click to expand...


Rather simple, you say you are not prepared to walk away with less than your asking price and thats it. If the agent wants R200K then let them do it but then they have to disclose it in the OTP.

If the agent cannot close the deal, then move on and then never do business with them again.

I would put up a big sign outside my house with my asking price :) just to piss them off.
 
cbrunsdonza said:
Rather simple, you say you are not prepared to walk away with less than your asking price and thats it. If the agent wants R200K then let them do it but then they have to disclose it in the OTP.

If the agent cannot close the deal, then move on and then never do business with them again.

I would put up a big sign outside my house with my asking price :) just to piss them off.
Click to expand...

Haha, maybe I should put the price on also. (already for sale and cell number on)

Its just a pity that a serious buyer would be lost then.

:rolleyes:
 
sSslik said:
Contract or not, the buyer was introduced to your property through the efforts of the agent and lawgully the agent is entitled to some form of comission. It's the buyer's problem to negotiate a lower rate with the agent. Don't get involved.
Click to expand...

Yep. If the agent comes with an offer, though, you can tell the agent what you're prepared to accept, and let the agent either negotiate with the buyer or reduce their own commission. I've had an agent drop to about a 3.3% commission in order to make a sale on my house.
 
Claymore said:
Yep. If the agent comes with an offer, though, you can tell the agent what you're prepared to accept, and let the agent either negotiate with the buyer or reduce their own commission. I've had an agent drop to about a 3.3% commission in order to make a sale on my house.
Click to expand...

That will be acceptable yes!
 
The buyer can probably afford your price, but who'd let an offer pass to save another 80k?

Since you've advertised your number, what he did, is exactly what I would have done...
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X