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In my state, if you go unrepresented, the seller's agent will get the full commission anyway.
In Florida also, but more and more realtor are willing in our area to take less commission since they only are working for the seller, and help the owner accept a lower offer so the buyer is happy, seller sells faster and the agent gets his money faster. Win Win situation for every one.
To be licensed and even a Realtor for ones own account is not unusual. In fact rather common in some parts of the country. Here for instance one can hang a license with certain shops for a low monthly fee. They will then charge a fee for any transaction you do but don't really require you do any.
Belonging to the MLS is actually more costly. But again there is no requirement that you do anything.
I even no one guy who is a starter at a golf course an pickes up a couple of referrals every year.
You can take the courses (and become a more informed investor), and as said above, you can buy property as an unrepresented buyer and sell property as a FSBO. Now, you won't be able to get into properties listed on the MLS without an agent, most likely, because they'll have the "key" that opens the house and for security reasons.
You can view properties on the MLS without an agent - simply arrange the viewing directly with the listing agent or, if the seller hosts one, go to an open house.
The listing agent will probably try to persuade you to sign up with them and appoint them as your buyers agent but you are under no obligation to do this.
In my own case I found a discount broker in a neighbouring town who was willing to act as our agent and who rebated us a large percentage of his commission (which was offset against costs on the closing statement). None of the agents in our town were prepared to rebate any commission at all so we simply took our business elsewhere.
He did a great job and I appreciated his help with the overall process. We were doing all the legwork ourselves with regard to researching properties and were very knowledgeable about the local market and area.
You would need to check whether discount brokers operate in NJ as there seem to be different rules in dfferent states.
I also think your idea of getting the licence is a really good one - it will stand you in good stead when you start your property search!
In Florida also, but more and more realtor are willing in our area to take less commission since they only are working for the seller, and help the owner accept a lower offer so the buyer is happy, seller sells faster and the agent gets his money faster. Win Win situation for every one.
Realtors here in VA would take 3% if they were the only realtor.
In Florida also, but more and more realtor are willing in our area to take less commission since they only are working for the seller, and help the owner accept a lower offer so the buyer is happy, seller sells faster and the agent gets his money faster. Win Win situation for every one.
Funny thing about those win win situations...I've had a lot of listing appointments lately where the buyer went through the list agent when they bought. Almost all of them overpaid and can't afford to sell now. I'm sure it seemed like a good idea at the time but in retrospect....
The "companies" would be brokers/agents who charge the FSBO to put the listing on the MLS for them. Which is to say, there is an agent involved who pays the fees to belong to the MLS (and qualifies to belong to it - you can't just pay to belong to most MLS's) and puts the information on the MLS for the FSBO. In those cases, the FSBO needs to be very sure that the information is going on the MLS for their area (I've heard horror stories about this) and should ask to look at the MLS sheet to see that the information is correct and makes the house appealing, including the photos. But I digress - the point is, there is an agent involved even if they're not giving full service to the seller (some states require a minimum level of service if you're going to offer this "put it on the MLS" service, because there are liabilities involved).
what I am saying is there are companies that let FSBO advertise on the MLS.
To put a property on the MLS, the Broker must be "employed" - must have a listing. In our area, that listing may be an Exclusive Agency OR an Exclusive Right to Sell.
I am aware of that but what I am saying is there are companies that let FSBO advertise on the MLS.
The OP doesn't want to advertise. He wants to represent himself in his own purchase, looking up listings and being able to get into homes for showings on his own without bothering agents. He's not going to be able to do that through any FSBO.
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Win Win situation for every one.
