Dear Grumpy Realtor,
I’m selling my home “by owner” but a realtor friend of mine wants to show it and brought up “agent protection.” I don’t want to sound like an idiot, but what the heck is that?
Not the Man from U.N.C.L.E.
Dear Mr. Bond,
Basically, your realtor friend just wants his/her cut of the pie (which is usually about half of a normal listing commission), should the house sell to the person they take on a tour. They’re doing you a favor by showing people around and helping you sell your house, so it’s only fair. An agent protection contract ensures that you won’t hook up with their potential buyer client at a later date to do a back alley housing deal and cut your friend out of the loop.