What amt is appropriate to pay a realtor when they bring you a buyer & your home is For Sale By Owner?

Question

We are selling our house, have advertised in local and regional papers, put it on Yahoo real estate, etc. Over a year ago, we had a real estate agent friend list it for us, but there were no bites. So eight months after her contract expired, we listed it as "for sale by owner". We rec'd a call that she wants to bring a potential buyer to see the house. If our house should sell to this customer, what would be the appropriate amount to pay to the real estate friend - - keeping in mind that we will not be making a killing on the sale of the house in today's market situations.

Answer 1

When listing with an agent, the commission is generally figured into the asking price.  You have listed For Sale by Owner (FSBO), so the commission hasn't been figured in.  That said, generally 6-7 percent commission is standard (though negotiable) in my part of the country.  If two agents are involved, that figure would be split however they had determined and would be paid by the seller.

You have done the work of listing and showing your house as a FSBO so 3 percent would be appropriate, if you choose to work with a buyer's agent.  Remember, though, even though this agent is a friend, and they previously listed your house, they are now working for the buyer and in the best interest of the buyer.  Never allow the lines between business and friendship to be blurred.

Good luck!