FSBO [For Sale by Owner] Transactions

FSBO [For Sale by Owner] Transactions

Working with a FSBO [For Sale by Owner] can be wrought with problems if not done correctly.

  1. Consult with Contract Support Manager or Compliance Manager.
  2. See if you can execute a RLA [Listing Agreement] with the Seller at a reduced commission [need Team Leader approval].
    1. If you get the listing, then you will be working as a “dual” agent throughout the transaction representing both the Seller & Buyer.
  3. If Seller is not willing to “list” with you, then use the following 2 forms.
    1. Execute a SNA [Seller Non-Agency Agreement] which specifies that Seller’s Broker can not and will not perform any “agent” duties for Seller.
    2. Execute a CA [Commission Agreement] to confirm the commission that Seller is willing to pay Seller’s Broker for bringing in a Buyer.

 

in Buyers, Commissions, Compliance