Selling Property Privately

AntiThesis

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So, here's the situation - could do with some advice from all you smart folks ;)

We're selling our property and have it listed with an agent. She's brought people around for the last month or so but there've been no buyers so far.
Then out of the blue a guy phones me and asks me about a private sale and whether I'd be interested. Turns out he's one of the people she's brought around but he doesn't want to deal with her as she's screwed him a couple times and has built up a bad reputation with him and his family.

I said I'd be interested in a private sale - depending on the legality of it - I'm not looking to screw the agent but I want a sale. What's the deal?

Anyone know anything about this sorta thing?
 

Freshy-ZN

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Unless Im going mad there was a thread about this very thing recently. I think it basically boils down to the fact that if the agent who introduced the potential buyer find out that the potential buyer and seller went behind the back of the agent that the agent had recourse to claim commision.

Personally I would think that you need to make the decision to sell via agent or privately before you even start marketing.
 

AntiThesis

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Yeah - we decided to sell with an agent but deliberately didn't give sole mandate so we'd have some options.

I have no issue at all selling through the agent but the dude seems dead set against using her. Do I sacrifice the sale just because I like the agent? Bah. Perhaps I can talk him into using her.
 

Freshy-ZN

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I think you just need to be careful and probably not deal privately with that particular person. Bottom line is that person came to know of the property for sale due to the agent so if they buy the agent is liable to earn commision.
 

Freshy-ZN

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Oh and I think you being the seller are liable for that commision.
 

AntiThesis

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Yeah, we're certainly liable for it. Think I'm going to expend some energy persuading him to buy through her.
 

MickZA

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Oh and I think you being the seller are liable for that commision.

And if the buyer has asked you to drop the price by the commission the agent would have earnt you will be the loser if they find out.
 

AntiThesis

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Strangely, he hasn't asked for a drop in price at all. Just pretty much hates her - it's weird.
 

moklet

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If he hates her why did he even approach her to look for properties. Somehow I would be careful with this. Anyway the agent introduced him to the property so she can claim full commission if you do a deal behind her back. (While now you might be in a position to negotiate the commission)
 

Griz

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So sell the property to him privately and give her a commission?
 

BrokenLink

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Take a stab at convincing him to use her, she did give her time to show the property and introduce you. Personally I dont like people trying to skip around paying the agents for their work and even if he does have such a huge problem with her, then why have her show him around when there is 100`s of agent who can do it. If he doesnt want to use you, just tell the agent and give her part of her commission.
 

AntiThesis

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Yeah - my plan of action is this:

1) Try and persuade the guy to use the agent
2) Tell them both to bugger off and rent it :D

I'm not keen on anything illegal or underhanded - that way lies trouble. Besides, this agent (who has no sole mandate) has done more work than any other agent so far. Poor lady.

Though, I'm sure anyone selling houses would love to not have to pay commission :D
 

ToxicBunny

Oi! Leave me out of this...
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To keep yourself entirely on the up and up....

Try and convince the guy to use the agent (like you're going to do)... if he gets adamant about it, at least inform that agent that X has contacted you directly in an attempt to purchase the property without her.

Regardless of the sole mandate or not, she introduced him to the property....
 

Billy

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Just remember, the potential buyer has shown you his colours. If he is prepared to go behind the agents back, can he be trusted?
 

AntiThesis

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Just remember, the potential buyer has shown you his colours. If he is prepared to go behind the agents back, can he be trusted?

If he gives me R495000 I don't really care how trustworthy he is :p

To make things better (and more complicated), my family is wanting to sell us a house now :) So we may well just put this place up for rent and have income instead :D

That way there are no dodgy people being dodgy and I'm still happy ;)
 
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