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Unread 05-21-2010, 10:06 PM
 
117 posts, read 154,108 times
Reputation: 94
Default Do buyers agents shun discount broker listings?

Curious about this ... have a house going on the market and, of course, am being seduced by the "list for $299 on the MLS" brokers or the discount brokers who still pay full 2.5 percent commission to the buyer's agent that sells the house.

But I've also heard (from agents and others) that some buyer's agents won't show or discourage buyers from looking at homes listed by these services, partly because they know they will wind up doing most of the work when the sale happens, and partly because it's seen as a threat to the industry.

I know realtors shun FBOS, of course, but if the agent will make the full commission, why be reluctant to show a property? Are listings really being blackballed or made to lay dormant in hopes the seller will turn it over to a full-service agent?

Any truth to this? What are your experiences?
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Unread 05-22-2010, 09:09 AM
 
Location: Charlton, MA
1,205 posts, read 2,573,681 times
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There is a house I was interested in and I had it on my saved list awhile watching it. It has been on the market a 172 days with only one small price drop. I realized some time ago it was listed by a discount realtor. It's a nice house - 4 beds 2.5 baths newer colonial. I thought it was a good price.

There was an open house at this place a few weeks ago. Whoever put in the date/time of the Open House put it in the property description. I use MLS Property finder to search for houses. If you're familiar with this it is a great tool & much more informative than what you can see on realtor.com ANYWAY.. When a house has an Open House scheduled it pops a note beside the listing (when you're looking at several houses in a list). This one didn't have that. Whoever entered it did it wrong! If you are searching for Open Houses you would have never found it.

My husband went to the Open House & it was being hosted by the owner & his wife and their daughter! The daughter was young & cute, but she didn't want anyone to see her room. Uhm..... This is not the way to sell a house people!

Not saying you would do the same, but it's no wonder they haven't sold their house yet.

Just sharing my experience for what it's worth.
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Unread 05-22-2010, 10:16 AM
 
117 posts, read 154,108 times
Reputation: 94
Oh, I don't disagree, you run the risk of dealing with someone who doesn't know what they are doing. But assuming the person who is listing the house is experienced in selling real estate, knows what they are doing, has a real estate attorney and a title agent ... etc. I have sold houses with realtors, always use a buyer's agent, but have also sold on my own a couple of times. Conversely, I have dealt with a FSBO or two where the sellers just did not know what they were doing and it wasn't worth the hassle to try to even buy the property.

But I am definitely intrigued at the comments I've heard about "don't list with XYZ service because agents will not show your property." I would think a buyer's agent is primarily concerned with the buyer, and any house they find that the buyer likes is a commission for them, regardless of what's happening on the other side of the transaction.
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Unread 05-22-2010, 10:50 PM
Status: "Live Free or Die..." (set 20 days ago)
 
Location: Southern New Hampshire
3,955 posts, read 6,991,019 times
Reputation: 3146
I'm an Accredited Buyer's Agent, and when I am working with a Buyer, I'm going to show them every house that fits their criteria, even a discounter, even a FSBO. The problem with the discounters is that some tend to provide minimum services to their customers (they generally have a customer relationship vs. the more traditional client relationship). Updating pictures, etc. can take an obscenely long time (nothing says "stale listing like seeing snow pictures in May, and yes, they are out there). It can be a hassle getting things like disclosures, tax bills, deeds, etc (which I end up getting myself, on behalf of my Buyer).

In the past, I have asked for increased compensation (from the Seller) and after seeing how much more work than they realized went into closing a transaction, they were happy to have somebody (anybody!) making sure that the transaction stayed on track. An educated Seller can certainly pull it off if with the help of their attorney, title agent, etc. especially if there are few, if any, glitches along the way.

Go for it (with a short term contract) and if you don't like the service you're getting for the price, you can always go elsewhere... All you'd be losing is a month or two of marketing by a professional and a couple hundred dollars.
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