FSBO w/realtor offering to do open house? What's his motive
chicagoerin
15 years ago
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lucy
15 years agomariend
15 years agoRelated Discussions
Realtor contract and FSBO
Comments (32)Hi, What price range are we talking? What was your asking price and what was the low ball offer? I'm curious if you listed your home at the price the agent suggested or did you list it at a price you thought it was worth? Did the agent send you regular reports as to what was selling in your subdivision? Did you receive CMA's? This is a slower than usual market but if a home is in a good location, has good appeal to buyers and is priced right, it will move--maybe taking a couple months more, but it should sell. How many times was your house shown in the first 30 days? Once the showings slowed down, did you and your agent put your heads together and try to figure out why the house wasn't selling? Was the low ball offer in line with what other homes in your area sold for in the last year? How long after the home was listed, did you receive the low ball offer? If you had 15 showings and no offers, perhaps your agent should have come to you and said the home is listed too high or feedback tells us this or that is wrong with the home. I tend to think if the home was shown 15 times, no matter who showed the home, it was possibly priced high and possibly had a few issues. I would sit down with the agent and work out something. Maybe the selling agent, the listing agent and you all three make a price adjustment. The agent is there to protect you the seller. Let the agent deal with the buyer, i.e., making sure they are pre-approved by legitimate mortgage lender who will make closing, make sure the agent assists you with inspections, etc., etc. If you still want to get out of paying the agent for his/her efforts, you might also consider calling the agent and at least offering to pay for those few ads s/he ran. Ads are expensive. MLS is expensive. Who paid for the photos that were ran in MLS? Was there a Virtual Tour completed? If so, who paid for that? If you were unhappy with your agent, did you go to the agent and ask to be released from your contract at any point? S/he probably would have released you if you were unhappy. I would not even consider circumventing the agent's efforts. Right is right and wrong is wrong. KCF...See Morerealtor or FSBO..pros and cons
Comments (11)Meet in the middle.... Hire a flat free broker to place your home in the MLS for approx $500. You take the photos, you write the listing comments and fill out the form that specifies the details of your home. In the MLS, you offer 3% or 2.5% to the agent that brings the buyer. The agents call you for showings and you either open the house for them or you get a lockbox and give them the code so they can enter/show. You leave the home for each showing so agents can show to buyers. Get a nice custom sign made at a sign shop for $100 or under. You get your phone#, #beds/Baths and other important factors added directly to the sign. You pick the colors and can even add a photo or icon to the sign. what is your big selling point?lakefront or on the golf course or a finished basement or 3 acres. You get those important facts added to the sign. this is where you stand out from agents that have a standard sign with 2-3 tel#s and the agent's name and brokerage on the sign. You use your sign to market the features of the home. You also buy a flyer box and attach to sign and have nice photos included. Also create a web site with 10 or so nice photos. On the flyer, say "for more photos see web site xyx. You hire a certified appraiser to appraise your home for under $500 typical price range. You tell them you are going to see and want to know the price to sell for. Then you pprice 5%-8% higher than appraisal price so you can then negotiate with buyers and sell at the appraised price. Your tel# that you use for the sign...make sure that is answered quickly and any VMs you return pronto. I sold FSBO several times, last time in the most recent market when prices were falling and most houses sat on the market for a year or longer. You can do this. Pricing it correctly is most important. Having it in proper condition to show is 2nd in importance....See MoreFSBO Realtors
Comments (74)I just re-read the OP and remembered this regarding calls by Realtors trying to list your FSBO home - If you are on the National Do-Not-Call Registry, Realtors are not supposed to call you unless they have a buyer interested in your home. If they do call you, they are subject to fines, which may take something to pursue, but just get their brokers' names and take it up with them, and then the local board if they don't or won't. That's an easy start. The one thing about Realtors is that they are all easy to find on the internet and their broker and local board, if they are legit, licensed, and actual Realtors or even Real Estate Agents. Brokers all have to have some sort of do-not-call procedure to prevent this from happening. You can also put a single sentence in your ads that states the fact that you are on the Do-Not-Call registry and that solicitation calls will be reported, that sort of thing. Not sure if you tried this, but it should be some relief from the onslaught of soliciting listings. Here is a link that might be useful: Article from Realtor magazine...See MoreNeed advice… Buying w/ agent but wanting to do FSBO
Comments (16)We listed last weekend FSBO in a hot market in rural North Carolina. We accepted an offer last night. We had calls from buyers agents wanting to know if we would give them 3% if they brought a buyer and handled the paperwork, qualification, etc. We said that we would, but knew that we would not drop our price as much because of the 3%. They wanted to have us sign an open selling agreement (something to the effect that they can bring buyer and we can have our own buyers, but if we sell to their buyer, we have to pay the commission). The lady who made the offer doesn't have an agent... we liked her offer and accepted. She was already pre-approved and can close in 30 days. We had an attorney on standby who could draft the contract to buy and handle the earnest money... he will also do the final settlement, so he started the title work right after drafting the contract this morning. All that to say, if you're in a hot market, you need to know what and how you're going to handle things if you're doing FSBO. It's not rocket science, but you definitely can't do it blindly. The other thing you can do if you're not comfortable and the buyer isn't comfortable with going it alone... find an agent who will work as a Buyer's Agent for a reduced cost (1.5 - 2% versus 3%)....See Morelimoncello
15 years agotriciae
15 years ago
graywings123
15 years agoberniek
15 years ago
ncrealestateguy
15 years agochicagoerin
15 years agosameboat
15 years ago
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