You don't need to write the contract, the Listing Agent will write the final contract once the price and terms are agreed upon. All you need to do to start is write a non-binding Letter of Intent (LOI) stipulating the basic price and terms. This is basically a Microsoft Word document saying so-and-so is offering this much money under these terms. You might want to familiarize yourself with the Realtor contracts and have them in case you need them. As long as the price and terms are agreeable the agent should not make an issue of the way you handle your business, although most, including myself, would quickly reject an attempt to cut my commission.
You might be able to purchase contracts from the local Board of Realtors, or you can ask a Realtor for some, or you can look for them online. The Realtor will generally use contracts which are authorized by the Board of Realtors and contain the necessary boilerplate language to cover most of the laws that protect everybody. If you do not want representation in the transaction it must be written in the contract that no real estate agent is representing you. You want to get this done asap in the original LOI. If you want to get that 3% commission you can either get a real estate license, work for a broker and do it yourself. Or you can try to negotiate with the Listing Agent and demand that he reduce his commission by 3% which would, in effect, lower the selling price by 3%.
I've done this kind of a transaction before.
· 10 years ago