Found a buyer ourselves – negotiate on 6% commission on listing agreement?

We’re in the early stages of selling our home and have found a potential buyer (a friend of a friend). This occurred after we had already signed a listing agreement with our realtor for a 6% sales commission (to be split with a buyer agent).

Since our buyer doesn’t have/need an agent, I’m wondering if we can negotiate with our realtor to lower the commission to 3% or less. They haven’t had to list or market the home yet – they’ve basically helped figure out a list price and helped us determine what we may need to fix in the home.

In other words, we could:

Sell to our known buyer for X dollars. We’d forego staging/repair costs and ideally negotiate the commission. List our house for X + 50k dollars. We spend 10-15k on staging and repair costs and have a 6% commission. The investment in staging and repair would help justify a higher list price.

1 & 2 are about breakeven in terms of net proceeds to us. So we are thinking to do #1 as a win-win situation for all involved:

Buyer gets the house for a projected lower sales price. We don’t have to deal with the uncertainty of listing on the open market. We get about the same net proceeds. Our realtor doesn’t have to deal with prep/repair/staging efforts and still gets paid about the same. We’d provide an honest assessment to the buyer on what it’s like living in the house and anything for them to be aware of.

Anyone have any thoughts or been in a similar situation? You could argue that this is leaving money on the table, but I care more about net proceeds than list price.

submitted by /u/theJamesKPolk
[link] [comments]

We’re in the early stages of selling our home and have found a potential buyer (a friend of a friend). This occurred after we had already signed a listing agreement with our realtor for a 6% sales commission (to be split with a buyer agent). Since our buyer doesn’t have/need an agent, I’m wondering if we can negotiate with our realtor to lower the commission to 3% or less. They haven’t had to list or market the home yet – they’ve basically helped figure out a list price and helped us determine what we may need to fix in the home. In other words, we could: Sell to our known buyer for X dollars. We’d forego staging/repair costs and ideally negotiate the commission. List our house for X + 50k dollars. We spend 10-15k on staging and repair costs and have a 6% commission. The investment in staging and repair would help justify a higher list price. 1 & 2 are about breakeven in terms of net proceeds to us. So we are thinking to do #1 as a win-win situation for all involved: Buyer gets the house for a projected lower sales price. We don’t have to deal with the uncertainty of listing on the open market. We get about the same net proceeds. Our realtor doesn’t have to deal with prep/repair/staging efforts and still gets paid about the same. We’d provide an honest assessment to the buyer on what it’s like living in the house and anything for them to be aware of. Anyone have any thoughts or been in a similar situation? You could argue that this is leaving money on the table, but I care more about net proceeds than list price. submitted by /u/theJamesKPolk [link] [comments]

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