Is FSBO worth it?

[2bindenver]

I think that any seller that signs a listing agreement is listed; however limited that may be.

[Brandon Hoffman]

Originally Posted by MikeJaquish

I think agents promoting that thought should prove it, that there is representation, particularly in Bedford's case.

Without citing their local MLS rules, unless they know that Bedford is IN their local MLS.

How about this then: If the seller made a mistake and got sued, do you think the listing agency would be included in the lawsuit, no matter if their only involvement was putting it on the MLS?

[MikeJaquish]

Originally Posted by Brandon Hoffman

How about this then: If the seller made a mistake and got sued, do you think the listing agency would be included in the lawsuit, no matter if their only involvement was putting it on the MLS?

I am sure just about anyone could be named in almost any lawsuit.
The courts would determine the merits of the claims.
Surely, if the property was misrepresented on MLS, the agent is likely responsible. I suppose their listing agreement says the seller will indemnify the agent against claims based on data provided by the seller.

I interpret FSBO as the seller handling all interface with the public, except entry on MLS.
A few years ago, after closing of an EO I sold, the listing agent came by to pick up his sign while I was there talking to the seller. I stepped over to introduce myself.
He asked me, "Who is that?"
Me, "That is your client."
Went back to the seller.
He asked me, "Who is that?"
Me, "That is your agent."
They had never met.

[Rakin]

Originally Posted by Brandon Hoffman

How about this then: If the seller made a mistake and got sued, do you think the listing agency would be included in the lawsuit, no matter if their only involvement was putting it on the MLS?

Brandon, there probably needs to be a few lawsuits to determine the extent of their representation. I'd love to see some of those guys defend themself in court. As we know, just because we get someone to sign a document that limits our liability that document doesn't always stand up in court.

TX feels like there should be a minimum level of representation and involvement when you sign an agreement with a licensed broker. Thus we don't have a true FSBO in the MLS like Mike must deal with.

[beachmouse]

We bought our house FSBO in 2001. Sellers did a yard sign/box in the front yard, and had three offers in two weeks. We split the cost of lawyer fees with the sellers to draw up a standard purchase contract. Lender and title company took care of arranging termite inspection and the like and the only thing we really had to do on our own was arrange for the home inspection.

A lot of success comes down to the old location, location, location meme. We bought an entry level house in one of the more desirable areas of the region, and those kinds of houses have generally been very easy to sell, even when the region as a whole has struggled. For a more expensive home in our area or a home in a different part of the county, selling FSBO is a lot tougher.