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dianemargaret_gw

question for FSBO's

dianemargaret
16 years ago

Has anyone who has gone theFSBO route held an open house for agents? That is, of course, only if you were offering a commision to the buyer's representative. The idea intrigues me. That way when you get the inevitable calls from all those realtors when your sign goes up you can invite them all together and watch the feeding frenzy over you.

Comments (48)

  • sweet_tea
    16 years ago
    last modified: 9 years ago

    Mostly they are just wanting you to list with them. Since I knew I wasn't going to go that route, I didn't waste my time or their time and told them (nicely) that I would never be listing with a full service realtor, upon their first attempt.

    If they want to bring a buyer, then that is another story. But usually they will schedule an appt and won't need the Open House in order to bring a buyer.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    Thank you. I was curious because of the thread roselover started about having an agent's tour. There seemed to be so many responses that considered it a good idea. I was just kidding about having the realtor's fight over you. I meant for the purpose to be for the homeowner to hold a tour for the same reason a RA would be holding the agent's tour on behalf of their client, for other agents so that it is, "at the top of their mind when they go to show homes to buyers," as Terricks put it.

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  • dabunch
    16 years ago
    last modified: 9 years ago

    dianemargaret-
    don't be surprised if nobody shows up.
    The only ones to show up would be the hopefuls for your listing.
    Most would boycott the FSBO & not show up.
    When we have a FSBO the realtors are only nice when they think they can sneak a listing out of you. Once they see that they can't, they become nasty & badmouth your house to the buyers. Even if you offer a commission, they may not want to show it.

    They are happier to see that you cannot sell it on your own so future sellers don't do the same. Only the deperate for commission ones will show your house.
    That's what I've experienced, anyway.

  • reno_fan
    16 years ago
    last modified: 9 years ago

    They are happier to see that you cannot sell it on your own so future sellers don't do the same. Only the deperate for commission ones will show your house.
    That's what I've experienced, anyway.

    Ouch. Scathing (but so often true) assessment!

    I have to say, I take any opportunity to look at any house. If I have interested clients, great. If not, at least I know what's on the market. Not all realtors just want to "sneak a listing" out of you. (How on earth would I even do that?? LOL!! They just wake up one morning and my sign is in their yard?) I don't badmouth anyone's house either. Some folks don't like using Realtors. So be it. They're not my enemy, for heaven's sake. I've said it before and I'll say it again; there's room enough on the playground for everyone to play.

    In our area Broker's Opens are just a waste, generally. The only reason Realtors go to them is for free food and cash drawings. (If you don't offer food, cash, or both you can pretty much bet that no one will show!) They're usually in and out so fast that they don't even know what the house looks like anyway, so they're not super-effective for selling.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    How much cash are we talking?

    And thank you, I was wondering if the opinion would be that it would be boycotted, even if the owner were offering a standard commision to the buyer's representative.

  • berniek
    16 years ago
    last modified: 9 years ago

    "Only the deperate for commission ones will show your house.
    That's what I've experienced, anyway."

    Maybe I need to rethink my way of doing business, so I don't look that desperate in my buyer's eyes, who wants to see a FSBO?
    (I write in my buyer agency agreement that I will show FSBO's, maybe I need to take that out?)

  • dabunch
    16 years ago
    last modified: 9 years ago

    Ooo....Oooooh...I love "honest Abes" chiming in ;)
    i.e. Reno_fan & Berniek.

    Just tellin how it is around here. USA is not all that different. Some realtors are a lot worse ethically than others. I have horror stories to back me. Not all realtors are bad, but you tend to remember the bad.

    I know for a fact that the realtors boycott FSBOs. When selling my house FSBO/limited MLS...I dealt with the "hungry" & the mean/vindictive realtors. I'd say 25% were honest & very nice wanting to help their clients. The rest were....well you know.

    Another thing, in talking to the realtors, I realized that 95% of the showings with a realtor were because THE CLIENT ASKED to see my house! I guess they must have seen it on Realtor.com, or a drive by. My experience was that the realtors certainly did not mention my listing very often to their buyers. Interesting, huh?

    Basically, I felt that by paying the buyer's broker a commission, I only enhanced my showings by 25% (the nice realtors, who didn't care that I was a FSBO).

    You should have heard the remarks that I did. Of course, they would be talking about the guy selling FSBO down the street...yeah, right.

    The reason I know my house was boycotted was because I called a lady who was selling 2 streets over. Our houses were sort of comps. Her house had no yard, no sidewalk & smaller. She had showings & I didn't. She was overpriced. I was priced under comps....I can go on. Most of the realtors certainly didn't have their clients interest in mind (to show them the better & less expensive listing).

    Ironically, I sold it myself in 2 1/2 months (Had to relist with Winter approaching. Buyers were non-existent). This was after I initially sold during my open house on the first day I placed it on the market. My first buyers freeked out that the market was crashing & backed out.

    Anyway, the realtors sold her house in 7 months. I'm sure they worked hard to get rid of it (sarcasm).

  • rktj
    16 years ago
    last modified: 9 years ago

    It seems that I hear a lot about realtors "boycotting" FSBO's - even those listed with a flat fee MLS where a standard commission is offered. It's hard to understand that even though I would be willing to pay a buyer's agent almost $15K for basically just agreeing to show their client my house (that the client most likely found on their own) and yet they would still forgo the opportunity to earn an easy commission out of spite because they are angry that I am not using the services of a realtor myself. That is truly ridiculous and makes no business sense whatsoever.

  • reno_fan
    16 years ago
    last modified: 9 years ago

    yet they would still forgo the opportunity to earn an easy commission out of spite because they are angry that I am not using the services of a realtor myself. That is truly ridiculous and makes no business sense whatsoever.

    I can see why you'd think that, but there's more to it than just what you're saying. It's not all about the money, an despite what most people think, most Realtors I know don't actually get angry at FSBOs. It's about the systems being in place to make the process as seamless as possible. I've learned in my short career that there is no "easy commission", especially with FSBO's, who aren't too keen on Realtors anyway.

    With the MLS and Realtor participation, we have a predictable system in place. (Not saying it's a perfect system, just predictable.) There are rules that have to be followed, and there are certain ways you do things. We all know the rules regarding showings, contracts, inspections, closings, etc. If there is a problem, we have a set of guidelines to help mitigate problems. Realtor's being squirrely? We can call her broker. Broker is being squirrely? We can call the Real Estate Commission. Buyers and sellers getting ready to kill each other? We can go to mediation. Fines, disciplinary actions, etc., help insure that the "system" stays functional. (Again, not a perfect system, but at least functional and predictable.)

    With FSBOs, there is a HUGE element of the unknown. Are the sellers going to be knowlegeable about the transaction? Or are they going to just hope that the Realtor who brings the client will handle all of the paperwork (and thereby put that Realtor in a HUGE predicament both legally and ethically), will they be okay with playing by "our" rules regarding inspections time frames and repairs? Or will they insist on the buyer taking their brother-in-law's assessment that the roof is good, the HVAC looks fine, etc.

    Believe me, nothing delights me more than finding that "perfect" house for my clients. I've shown FSBOs, but I've found the majority of them to be *vastly* under-aware of what it takes to actually see a transaction to closing. (An exception to that was an attorney who'd sold FSBO before. He already had his title work started, knew *exactly* what to expect from what the Realtors would be asking, and was a delight to work with.) Most others, however, know just enough to put the house on the market. When Realtors have attempted to get FSBO sellers to follow our guidelines (again for legality and predictability), they've been accused of bullying. No, not trying to "bully", just trying to do things the way that's most effective for the thousands of agents who do this every day.

    So if I call to make an appointment with a FSBO, and I'm met with a certain amount of disdain, or told that they won't be paying me a dime, or told that *will* be paying me a dime but expect me to handle everything, it *does* make you leery of making that next phone call to the next FSBO owner. It truly is not all about the money; it's about how much of my neck am I going to have to stick out with this transaction, and how am I covered legally, etc.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    Reno fan,

    You have explained very well what makes realtors leary of working with FSBO's. I am not selling my house right now but just for the sake of argument let's say I was.

    Given your explanation I would be even more inclined to hold a realtor's open house now, I think. Not only to show them my house but to show them I have done my homework and am capable of handling my side of the work. It would give them a chance to see that I have my lawyer in place, a contract in order and they could quiz me about my expectations as a seller.

    I know that wouldn't completely cover all of the concerns you brought up, there wouldn't be any higher ups to complain to, but by showing them I don't disdain their contribution to my success shouldn't that count for something?

    The question remains, do you think realtors would take me seriously and attend? Also I am still interested in what the cash drawings entail

  • marys1000
    16 years ago
    last modified: 9 years ago

    I think if there were a FSBO on the market that a realtor thought a client would be interested in - why not just tell the client - I'd only be comfortable doing this with a real estate lawyer representing the seller?
    Except I've never had that happen. I assume realtors are out driving around to MLS listings all the time - I'd think they would see more FSBO signs than me.
    It seems like it should at least be discussed, maybe up front when discussing the contract. I've never had a realtor say - you know I drove by a FSBO you might be interested in - do you want to discuss how such a transaction would work between us before I make contact? Here's what I think or recommend etc. etc.
    If there's any trust between a realtor and client I would think it all could be worked out so that the realtor feels comfortable (that sounds sort of weird but I guess its necessary).
    It seems a bit much to bypass the house you really want because your working with a realtor and the house you want is FSBO.
    Personally I think the reasons realtors act like FSBO's don't even exist is the desire maintain a lock on the whole residential market - i.e. control of the process. The internet, discount brokers etc. are all chipping away at this and I would be surprised if the NAR isn't battling all of it tooth and nail.

  • Linda
    16 years ago
    last modified: 9 years ago

    Personally I think the reasons realtors act like FSBO's don't even exist is the desire maintain a lock on the whole residential market - i.e. control of the process. The internet, discount brokers etc. are all chipping away at this and I would be surprised if the NAR isn't battling all of it tooth and nail.

    Personally, I think you all believe realtors actually sit around thinking about ways to boycott FSBO's when in reality, they don't even think of them.

    Dabunch,
    Even if you offer a commission, they may not want to show it.

    They are happier to see that you cannot sell it on your own so future sellers don't do the same. Only the deperate for commission ones will show your house.
    That's what I've experienced, anyway.

    So now if they show your house, they are desperate for the commission, if they don't show your house, they are boycotting because you are FSBO. Which is it?

  • quiltglo
    16 years ago
    last modified: 9 years ago

    dianemargaret, I wouldn't bother. I really wouldn't. It's going to take a bunch of time and effort to even notify agents. The few who have someone interested in your home will call and make an appointment or bring them to a regular open house. I had a few stop by during regular open houses to check out the house. The interested ones will do the work themselves. Good agnets are watching the market and know what's available.

    Gloria

  • dabunch
    16 years ago
    last modified: 9 years ago

    Linda117-
    Let me splain something to you.
    Yes, the 75% realtors who were not happy about the FSBOs made judgment calls...hmmm what's more important making money or boycotting the FSBO.
    The ones who hated the FSBOs but showed the property decided that making money was more important than proving a point that FSBOs can't sell it themselves. The ones who decided to pass on showing FSBOs were vindictive & they wanted the FSBO to fail & list. That was my experience.

    To those who defend the realtor listing profession: Don't give me this bull that most FSBOs operate with 15 Watts & don't know the paperwork, the market etc. NOT all FSBOs are helpless. RE paperwork is not Rocket Science. You always hire an attorney or a Title Co, anyway.
    FSBO is not for everyone, nor is listing the traditional way. Buyers would be better served without game playing.

    Dianemargaret- You SHOULD have that RE Open House, just so that you can satisfy your curiosity. Prove us right or wrong & this way you'll know which marketing strategy will work for you best. Please let us know.

  • Linda
    16 years ago
    last modified: 9 years ago

    Let me splain something to you.
    Yes, the 75% realtors who were not happy about the FSBOs made judgment calls...hmmm what's more important making money or boycotting the FSBO.
    The ones who hated the FSBOs but showed the property decided that making money was more important than proving a point that FSBOs can't sell it themselves. The ones who decided to pass on showing FSBOs were vindictive & they wanted the FSBO to fail & list. That was my experience.

    Personally, I dont know any realtors that give FSBO's that much thought. If someone wants to try to sell it on their own, so be it. There is a lot of talk on this site about boycotting FSBO's. I personally have no knowledge of this because it just isnt that big of a deal in my area. FSBO's are using different avenues of advertising than agents are, they arent in our MLS system, they may have a website but who in the world for find it? They may advertise in the same local paper, but can't get in any of the realtor magazines. It just isnt that much of a threat to an agent. If I happen to see a FSBO that I think is perfect for one of my buyers, I would approach the owner to see about a one time showing. (Not a listing).

    What is the point of boycotting a FSBO? IF they are going to pay a buyers agent the commission, whats the difference? If they don't want to pay the commission, so be it, I move on to the next house for sale. Is this a boycott?

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    Well, as I stated above I am not selling my house right now, or planning to anytime very soon so it would be quite some time before I could experiment and give any results. Sorry

    I am little surprised at the results of the reponses so far, though. Everyone seemed so positive in the other thread about allowing an RA holding an open house for other agents as a marketing strategy and presumably houses that are listing with agents already have even better exposure than houses sold by owners. But then, I don't think anyone who responded in that thread has responded here.

    But I am glad I asked the question as reno fan's answer gave a lot of valuable insight for whenever the time does come.

  • reno_fan
    16 years ago
    last modified: 9 years ago

    To those who defend the realtor listing profession: Don't give me this bull that most FSBOs operate with 15 Watts & don't know the paperwork, the market etc. NOT all FSBOs are helpless.

    No one said ALL FSBOs are helpless. I personally said that it's the not knowing that gives me pause. And I'm not trying to be argumentative, but my *personal* experience is that most of the FSBOs I've contacted absolutely were clueless about what to do next regarding offers, closing, etc. Yes, they knew we'd be using a title company, but they honestly had "deer in the headlights" look when I asked very simple questions about offers, inspections, and closing. (All except the attorney.) No, the paperwork isn't rocket science, but unless FSBO sellers read about how things are done in their area, they just may not know what to do, and put the buyer's realtor in the position of having to do alot of guiding.

    Again, this is NOT across the board; this is just my personal experience.

    As far as the cash drawings, in our area the realtors won't even show up unless there's at least a catered meal and a $100 drawing. And then they only stay long enough to put their cards in the fishbowl, then they dart off to the next broker's open.

  • dabunch
    16 years ago
    last modified: 9 years ago

    dianemargaret-
    It's a good thing that you're doing your homework ahead of time.
    This way when your ready to put your house on the market, you will know all the variables. In business dealings I find that the more knowledge you have about a situation, the better off you will be when your time comes to sell.

    After all the negative realtor, I call it REALITY points I've made about FSBOs, I have a BIG positive post to make about going with realtor.

    Let me preface that the paperwork is not a big deal. The steps in selling RE are not a big deal. You can get a copy of a contract from your attorney & follow the steps. All that is the easy part. The realtors make it seem like they know something, the FSBOs don't.

    Where you need a realtor is when negotiations take place & as the time passes from the signing of the contract until the closing date. This where it ALMOST ALWAYS becomes sticky. When it comes to money, buyers remorse & stuff, things can get pretty uncomfortable for the seller to deal directly with the buyer. The buyers may become "squirrely." You need a "buffer person/REALTOR." Many times the buyers play games to get more out of the seller. Especially in a buyers market. It's like they feel that they didn't get a good enough deal. Some get buyers remorse. A realtor may not be able to save the deal, but it sure is nice to have someone do your dirty work. For THAT reason a GOOD realtor can be a Godsend.

    Example: I can negotiate for someone else & say NO for someone else, no problem.
    However, my buyers still wanted to re-negotiate the price AFTER they signed the contract. Many try to do that. I had to handle that situation myself. Then they decided they wanted some inspections, even though they checked off NO on the contract. I let them. Had I gone with a realtor, I would have said NO, go away. The contract is not negotiable after signing. Basically, I let them jerk me around because it was uncomfortable for me to say no. Oh, lets not forget how they brought the entire family/friends to look at the house....several times. A good realtor would have put a lid on it.

    Anyway, those were my pluses & minus listing FSBO. It's an individual decision, whether you have the stomach to go FSBO. I didn't find the paper trail process difficult. I had a good attorney. But dealing with the buyers/money can get out of hand.

  • marys1000
    16 years ago
    last modified: 9 years ago

    If I happen to see a FSBO that I think is perfect for one of my buyers, I would approach the owner to see about a one time showing. (Not a listing).

    Its good the hear this but I get the impression that this almost never happens. Certainly never happened to me.
    Linda - you say you would - have you ever? Not a dart, just wondering.

    My realtor told me that that realtors don't show FSBO's unless their clients ask them too. Otherwise they don't consider them because there's usually a similar property that's brokered to show. Calling it boycotting makes it sound like some big political thing which it maybe isn't. But they still don't show them unless asked.

    I do think the NAR is actively doing all it can to make sure that full-service brokerages get all the legislation the can in place to protect their interests. That's actually their job isn't it?. Aren't they sueing that start-up discount guy in Texas?

  • berniek
    16 years ago
    last modified: 9 years ago

    "If I happen to see a FSBO that I think is perfect for one of my buyers, I would approach the owner to see about a one time showing. (Not a listing)."
    That's how I work, a one time FSBO showing and commission agreement with my buyer's name on it, signed by the FSBO.
    No signature, no showing.

  • terezosa / terriks
    16 years ago
    last modified: 9 years ago

    In my area there is almost 3 years worth of inventory on the market that is listed on the MLS. With that many listed homes to show buyers is it any wonder that agents are reluctant to do the extra work to show a FSBO? I wouldn't call that boycotting. FSBOs have chosen to not be part of the system. That is their right. I don't see why agents are being criticized for not showing FSBOs when FSBO sellers have sent out the message that they don't want to involve an agent. Unless they have signed an exclusive buyer's agreement with an agent buyers are free to look at FSBOs on their own.

  • Linda
    16 years ago
    last modified: 9 years ago

    Mary, in a buyers market when there is very little inventory, I have done just that several times. It is not done while the buyers are in the car. I simply say I will contact the owner and see what I can do. In a sellers market when the inventory is plentiful, its not necessary. Also, just as a FYI, not one of my buyers EVER bought one of the FSBO's.

  • terezosa / terriks
    16 years ago
    last modified: 9 years ago

    in a buyers market when there is very little inventory,

    In a sellers market when the inventory is plentiful,

    I think you got that backwards. We really do need an edit button here!

  • Linda
    16 years ago
    last modified: 9 years ago

    LOL, yes I do. But Im sure you all figured it out.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    LOL yes I had to read that over again too

    "It is not done while the buyers are in the car."

    But Linda, if you had come to "my" open house you would not have to put your clients off. You would already know what the situation was and could impress your clients with your willingness, knowledge and foresight. They would not get even a whiff of an idea that you were only in it for yourself and not for them. If I have sold myself creditably during a realtor's open house that would also be to my advantage. But then I am the kind of person who thinks that showings should be at the convenience of the buyers, not at the sellers.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    Terricks,

    The whole point of holding my holding an agent's open house would be to send out the mesage that I AM interested in working with agents and to prove that the agent's wouldn't be left doing the work of two realtors.

  • Linda
    16 years ago
    last modified: 9 years ago

    But Linda, if you had come to "my" open house you would not have to put your clients off. You would already know what the situation was and could impress your clients with your willingness, knowledge and foresight. They would not get even a whiff of an idea that you were only in it for yourself and not for them. If I have sold myself creditably during a realtor's open house that would also be to my advantage. But then I am the kind of person who thinks that showings should be at the convenience of the buyers, not at the sellers.

    Diane, yes you are right, had I gone to the open house, I would already know this and probably would have made the appointment to show my buyers. When I said, "not when they are in the car". I was assuming we saw the FSBO open house sign while out looking at other homes. In that case, I am not bringing my buyers in.

    What Diane is basically trying to do is be the listing agent. I wouldnt have a problem showing the house, but I certainly will make sure papers are signed before my buyers come in. I have this protection when homes are offered thru other realtors. I want the same protection if I show a FSBO. I want to find them their dream home, but I want to get paid too, there is no "whiff of being in it for myself" because I want to protect my interests.

    Who is inconvienced has more to do with buyer conditions than anything else. In a buyers market the buyers call the shots, in a sellers market, the sellers do. People deal with it if they want to buy a house or sell one.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    I want to find them their dream home, but I want to get paid too, there is no "whiff of being in it for myself" because I want to protect my interests.

    Linda, please don't get upset. When reno fan explained the prejudices from realtors I would likely face by going FSBO I did not get defensive, just found myself grateful for the information so I could determine how best to overcome those prejudices.

    Yes, I suppose if I were to sell FSBO I would consider myself my own listing agent. So far I have determined that I need

    catered food
    a cash drawing
    a lawyer
    contracts to peruse
    agreements drawn up with all attending realtors stating that I will honor an agreed upon commision rate which is in line with the norms for the area
    and I need to display an understanding of contingencies, time limits, and how to handle counter offers in a businesslike manner

    Anything else? Oh yes, I should make it clear that I am not trying to sell fsbo for a limited time before giving up and giving in. That I understand sometimes selling takes time and patience.

    Quite frankly I wouldn't care what the motives for the realtors coming was, if the realtors came for the food, the cash drawing, or if they came to try to sell me on their services, so long as they attended.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    Oh, and disclosures

  • reno_fan
    16 years ago
    last modified: 9 years ago

    Dianemargaret, one thing I forgot to mention is how much you'll have to "promote" the open house. In our area, there are flyers delivered to our offices (and all the offices in the area), posted on our bulletin boards, and mass emails are sent about one week prior to the broker's open. Then reminders are sent all over again about 2 days before. Still, it's not uncommon to only have maybe 5 or 6 realtors come through (looking for lunch).

    The only ones that get a huge turnout are the extremely high end listings, where the listing realtor (and what ever mortgage lender is trying to curry Realtor business) throw lavish open houses complete with multi-restaurant catering, live music, BIG drawings (cash, vacations), margarita machines, etc.

    I'm not trying to dissuade you, but just to let you know the turnout for those open houses are not great even within our own ranks.

  • reno_fan
    16 years ago
    last modified: 9 years ago

    IMO, you'd be better off to have a quality sign made for your yard with "Agents Welcome" printed clearly on it. Then on your flyers (if you choose to do them) have some clearly stated guidelines for working with realtors.

    -Will work with Agents! Standard commission applies.
    -Will close title work at company of buyer's choice.
    -Will allow inspections within 10 days. (Or whatever is standard in your area.)
    -Owner can be present for showings, or will allow agent to show property alone.

    These are all things I'd want to see if I was wanting to show a FSBO, or if a client brought me a FSBO flyer.

  • marys1000
    16 years ago
    last modified: 9 years ago

    FSBOs have chosen to not be part of the system. That is their right. I don't see why agents are being criticized for not showing FSBOs when FSBO sellers have sent out the message that they don't want to involve an agent. Unless they have signed an exclusive buyer's agreement with an agent buyers are free to look at FSBOs on their own.

    "Exclusive buyer's agreement" - can you explain this in more detail? I do think it varies by state to state? I've tried to break the code on this by reading the Ohio NAR website but it seems pretty murky.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    Thanks reno fan, again great information. Your clients must love you.

    One of the obstacles I will one day have to overcome is that I am in a very rural area on a back road. To add to that I am on a flag lot and neither the house nor the property (used for horses) can bee seen from the road. Most service and delivery people cannot find me unless i wait for them at the end of the driveway.

    The house was originally fsbo when I bought it, but it was a real fluke that I found it. I had just completed selling my recently deceased parent's house and acreage to settle the estate, plus my own house that had had access to the acreage where I kept my horse. The houses with a realtor and the acreage to a developer I was introduced to by a mutual friend. Just before the last sale closed I was driving around on the back roads in a neighboring county on a rainy afternoon where we wanted to settle, just looking for signs, and got lost. I almost gave up several times but I had the oddest compulsion to keep going. Now I tell people it must have been my parents urging me on and trying get me to the house of my dream. My father was always pushing me to go that extra mile :)

    I was comfortable buying the house without an agent since I had just been through three transactions but I accept that I might be an unusual buyer. While all of the things you propose are good ideas I am afraid I wouldn't be able to depend on drive-bys so I am interested in all kinds of marketing ideas. And I really don't want to sell, I love the place. But in these precarious times I want to stay prepared in case anything happens to either my husband's job or mine.

  • reno_fan
    16 years ago
    last modified: 9 years ago

    If that's the case, I'd just stick with newspaper/internet ads. I'd include "Agents Welcome" in everything, and then you can disclose how you'd work with them when/if they contact you.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    I guess this all answers my question. Agent's open houses are not generally well attended for average piced homes and would be even less appealing if given by someone outside of the industry.

    Thanks all.

  • herus
    16 years ago
    last modified: 9 years ago

    "FSBOs have chosen to not be part of the system. That is their right. I don't see why agents are being criticized for not showing FSBOs when FSBO sellers have sent out the message that they don't want to involve an agent."

    I would argue that it is NOT the system itself, but that aspect of the system which pays ever-escalating fees (commissions) to listing agents. Escalating in the sense that while home prices have doubled, tripled, whatever in so many years, the commission percentage remains the same. And then out come the sob stories of how most realtors make only $30K per year.

    Why do they make so little? Is this because they are underqualified for even this job to begin with? Lazy? Not so bright? Looking for the easy money and not wanting to stretch to that next $30K that could be theirs if they just gave their jobs a little more thought and effort? Adding to this, their numbers have increased drastically in recent years, no doubt drawn to the game by the promise of easy money. More realtors dilutes the money that goes around. This in no way justifies why buyers and sellers should support the parasites who are drawn to what appears to be easy prey. Now that the market is down, these very same losers are exiting the industry, going over to auto sales, insurance, who knows what.

    I am not speaking out of my hat. My experience with at least six different realtors over the years (in-depth experience; I have of course encountered many more) is that they are not so bright, lazy, and rather pernicious, sometimes even to themselves.

    A recent experience, not in-depth of course: this guy at my church, who I have encountered on a very casual level over the past year or so. I did not know what he does for a living. Still, he has always been cordial, friendly and pleasant, and I have returned the courtesy, but the conversations have always remained superficial. Fine by me.

    One day a few weeks ago, during a lull in activities, he sat down next to me and asked about our summer plans, just casual conversation. I told him that vacations are out this year as we just bought an older home and our summer would be absorbed in repairs and remods. He then asked, right away, how much it cost. Although I thought this out of line for a casual acquaintance, I told him after a little hesitation. The amount would have represented a decent commission.

    (A brief aside: we bought FSBO without a buyer's agent. It is very nearly the house of our dreams, and the agent we had been working with KNEW we wanted into this neighborhood, which is only 10 minutes from his home. He is NOT busy, in fact he is hurting for business. Still, my wife found the home via the yard sign, which if he had done, would have netted him a sale).

    Back to the church guy. He fell silent upon hearing the figure, then after a minute or two, without another word, got up and left. He hasn't spoken to me since. I was puzzled about the complete change in his personality, until I recently opened a local community magazine and spied his mug staring at me as part of a ReMax ad. He's a realtor!!

    Let's see:
    Not so bright: First, he never made sure I knew he was a realtor BEFORE he knew I was a home buyer. I didn't know, didn't have a clue. Second, by subsequently shunning me, he has lost any opportunity to ever be my representative in an RE transaction.
    Lazy: See 'first' above.
    Pernicious: See 'second' above.

    This whole NAR thing about suing various entrepreneurs, realtors boycotting FSBOs (hmm, because they might have to do a little-or a lot of- extra work), the showing up only for free food (and it HAS to be catered!) and cash drawings, all points to a "profession" that is not so different from the mob or the KKK. Their easy pickin's are slowly going away and they are desperately resorting to underhanded tactics to try to keep a hold of their way of life. Not gonna happen. The survivors will be few but they will be the ones who earned that survival. Maybe I won't see this in my lifetime but hoping my kids will.

  • reno_fan
    16 years ago
    last modified: 9 years ago

    Not so fast. Had he represented himself as a Realtor, you likely would be telling another story here, about how you couldn't even have a cordial friendship with the guy w/out him shoving his profession down your throat. If people don't like Realtors in general, you wouldn't like him if he marketed himself to you, or if he ignored you. You'd find SOMETHING to fault him with.

    Yes, some Realtors are lazy. But it's an industry "known" around here that broker's opens are a tool, but not the most effective tool. If there is lackluster turnout, it's not becuase of laziness, it's because there are more effective ways to match clients with homes. Still, the lenders foot the bill and pay for catering so they can meet realtors. Not our fault that they offer those things, and sure, I'll go by to grab lunch and see a house.

    "Easy pickins" is absurd. Ask any Realtor in the business longer than 10 minutes just how "easy" it is.

    Realtors "boycotting" FSBOs was explained above. If I'm going to take on extra liability AS WELL AS extra work, then you betcha, I'm going to be leery. Not of the work, but of the ramifications of placing myself in a tough situation legally. (You'd be surprised what I've had some FSBO sellers ask me to do, when I wasn't even representing them!)

    Not all are lazy, and I resent having my profession (at which I work QUITE hard) compared to the mob or KKK.

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    Reno fan!! You didn't tell me this part!

    Still, the lenders foot the bill and pay for catering so they can meet realtors.

    arrgghhhh ;-)

  • reno_fan
    16 years ago
    last modified: 9 years ago

    Oops! Yes, the lenders "sponsor" these events to meet other realtors who may eventually send them business.

    Lenders will work with FSBOs too, though. Just contact a good one, and tell them you'll let them put one of their signs in your yard, work up a "payment flyer" for your marketing, and see if they'd sponsor an event. Sometimes you can pool together with other homes in your area. Maybe contact all the FSBOs within a few mile radius, and do a multi-house open house.

  • herus
    16 years ago
    last modified: 9 years ago

    Renofan, At last! I have been waiting for someone who can predict my actions and thoughts. Care to tell me precisely what I will do and think tomorrow?

  • reno_fan
    16 years ago
    last modified: 9 years ago

    I try to keep my super-powers hidden, herus. Can't have the general popluation knowing when I'm out saving the real estate world. Clark Kent syndrome, don't ya know.....

  • berniek
    16 years ago
    last modified: 9 years ago

    "Care to tell me precisely what I will do and think tomorrow?"
    Hmmm, what do trolls do on Friday? Oh, I know, they are still trolls.

  • dabunch
    16 years ago
    last modified: 9 years ago

    Herus- you make a good point. I don't think all realtors are bad. But you are correct in apprx. 75% of cases.
    I & my family have stories about realtors, that would make your hair curl. We only have a few positive ones.

    I'm trying to be fair & thinking that maybe it's the MONEY business that brings out the worst in people-lol. You know, even family members can become cagey when it comes to money.

    Reno_fan:
    I disagree that realtors have ALL THIS EXTRA WORK with FSBOs. Maybe a FSBO, who is unprotected by an attorney sits with these "deer-in-the-headlights" look, but that's because the FSBO is being loaded with fast talk by the realtor, throwing things at the seller that they are in over their heads...That's line of crock!

    Nice sales pitch, though. I wouldn't fall for it. Then again, I'm a Rebel-lol
    I'm pretty resourceful & hire people to do the work "I" don't feel like doing. And then, I really EXPECT perfection. After all, ther ARE the professionals.

    Back to selling. Once the offer is accepted by the seller, the contract signed, the rest is up to the buyer or the BUYER'S AGENT to follow the steps. You don't have to do anything for the seller. You're working for the buyer.
    THE BUYER has to get approved.
    The buyer has to get inspections.
    What is the job of the seller? To wait & hope the BUYER does everything & then close.
    The only problem that can arise is IF the buyer tries to back out or becomes unreasonable after the inspection report. A realtor cannot always help there. Only a GOOD/ SMART realtor may be of help to do the sellers dirty work & negotiate. But there are no guarantees that anyone can hold a deal together...You can't make someone buy your house.

    Liability??? The seller has an attorney, for much less than what a realtor costs...ahem.

    You're protecting your buyer, not the seller!!! Who are you kidding?!
    Geez, I hate when realtors SCARE sellers.

    Oh, I hate when someone calls selling homes "a system."
    A system in place to sell my home? I can sell anything of mine, myself without a necessary system. I can write up a contract on a piece of tissue paper. Thats' right- NO system!

  • dianemargaret
    Original Author
    16 years ago
    last modified: 9 years ago

    Geez, Reno, I'm sorry so much crap is being directed your way. I appreciate how helpful you have been to me. But I suppose it explains why so few of the other realtors on this board contributed their opinion.

  • reno_fan
    16 years ago
    last modified: 9 years ago

    It's okay dianamargaret. I have a pretty thick skin!

    This board has a definite anti-realtor vibe, but I understand why. Still though, I believe I may have stains on the back of my shirt from the tomatoes that've been hurled my way.

  • reno_fan
    16 years ago
    last modified: 9 years ago

    Maybe a FSBO, who is unprotected by an attorney sits with these "deer-in-the-headlights" look, but that's because the FSBO is being loaded with fast talk by the realtor, throwing things at the seller that they are in over their heads...That's line of crock!

    dabunch, just as only a handful of realtors are worth their money, only a handful of FSBO sellers come to the market truly prepared. I have yet to find a FSBO seller (aside from the guy who WAS an attorney) be represented by a RE attorney. Across the board, they've placed the sign in their yard, and know that it'll close at a title company, and that's IT. That's not slanderous; it's indicative of what I've personally dealt with. It's not a "crock" when it's the truth about my personal experience.

  • terezosa / terriks
    16 years ago
    last modified: 9 years ago

    Across the board, they've placed the sign in their yard, and know that it'll close at a title company, and that's IT. That's not slanderous; it's indicative of what I've personally dealt with. It's not a "crock" when it's the truth about my personal experience.

    And how many posts have we seen here that say "I've put my sign up, now what?"

  • xamsx
    16 years ago
    last modified: 9 years ago

    Like any profession there is good and bad. We've had realtors aggressively come on to this board to tell everyone here we are blooming-idiots who could not sell a house if we gave it away. We've had realtors give excellent advice. We've had realtors act like attorneys and inspectors. We've had realtors get their feelings hurt, and we've had realtors on this board hurt people's feelings.

    I hope people haven't been too hard on you, reno fan. You've always expressed support for FSBO and have offered good advice to all. I know this board seems hard on realtors, but as with anything people come to a message board when bad things occur. People tend to gripe and need advice when things go wrong, not when things go well. And many people have unrealistic views of the selling process, the value of their house and what steps they need to contribute to a successful home sale. People usually look for someone to blame and their realtor is handy. Goodness knows nothing could be wrong with their tiny, 1960s, never-been-updated complete with shag rug and gold bathroom fixtures next door to the Atlanta airport, home.


    I would never sell or buy a home without a realtor. I would also never buy or sell without a real estate attorney. The inspector - that I can do without. Other people may feel differently, and that is why we have FSBOs, flat fee realtors and inspectors.