Cooperation with REALTORS is a win-win for For Sale By Owner property.

When selling your home without representation you may want to consider working with the REALTOR community by offering to cooperate with agents that are working with active buyers.  Many homes listed for sale “By Owner” are sold by cooperating with agents.

If you decide to tap into this active buyer market then you will need to decide if you are willing to execute a written agreement to authorize an agency to act in this fashion.  The obligation you will have is to compensate the agent and fulfill your side of the contract terms.  You will need to fulfill this obligation ONLY if the agent provides an acceptable contract and the sale closes.

The procedure usually works in the following manor:  You set the price.  The agent will make arrangements to show your property.  If the buyer is interested the agent will ask for a Lead Based Paint and Sellers Disclosure Statement.  Once written the agent will present and explain the offer.  If the negotiated offer is acceptable then you will proceed through the terms and then to closing.  At closing you will be required to compensate the agent the agreed amount.

If the buyer is not interested you have no obligation to the agency.  If you list your property with another firm your cooperation agreement is terminated.

This is a win-win situation for a home seller who is representing him or herself in the sale of a home.