Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
gina,,,i dont believe we conspire against fsbo's ive approached many fsbo's with potential buyers,,
but thier is a general attitude,,,of disrespect towards brokers, from fsbo's,,which is fine,,personally, but professionally,,it can be a deal breaker,,more often than not,,
to make an offer, i need property disclosures for the buyer,,the fsbo owners are usually, not very cooperative, or lie thru there teeth about material facts (leaky roof/water in basement, etc.....they get very defensive...
and just suppose, we make an offer on a fsbo,,,well,,,not knowing what most of the verbage means on the general purchase and sale real estate contracts,,they accuse, and ask 200 questions,,,and immediately get emotional,,with the phrase go f--- yourself,,being the predominently, fsbo phrase in these parts,,
now say my buyer needs to sell to buy and the purchase agreement has contingencies, in it,,,and also property inspections,,,these freak out many fsbo owners.
and if a fsbo isnt working with a lawyer,,,its even worse,,
the upside with working with fsbo's is that, they will either overprice thier property,,because they are testing the market,,,(really dont need to sell) or they actually do, undervalue thier property, so in an effort to "save" 5% comission,,,they may lose,,over 20 % value,,,
if i have buyers that are investors,,i send them to the fsbo's
the analogy i like with fsbo's is this,, it may be legal to do your own divorce,,,,while thinking you are saving 2-3k in lawyers fee's,,,,but if the other spouse gets a lawyer,,its not an even playing field,,,you are at a distinct disadvantage,,and could lose, over 20-50k, if not more(would you want to go to court,,with your spouse having a lawyer, knowing all the laws and loopholes,,and you do not?)
now,,ive seen a handful, of people that will take the time to study most of real estate rules/laws, contracts, liabilities, etc, and can do thier fsbo very well,,,however, they are very much the minority!
I have showed my house one hundred times more fsbo than using a realotor the fact is in this housing market buyers know that if you are using a realtor they are going to pay another 20k and up plain and simple now i still wasnt able to sell fsbo but i went back to a realtor and its a ghost town fsbo is the way to go they scrounge the streets looking for fsbo signs. When you go with a realtor you get ripped off they get ripped off and the realtor does little if any work. except waiting by the phone and they dont even answer the phone any more and are late to calls for house viewings. Realtors should be removed from the sellling process then you wouldnt need a lawyer because you wouldnt be getting reemed up the you know what for your hard earned dollar. Passing your real exam doesnt give reason for the huge commissions you get and if you were working at much lower % prices of houses wouldnt have gotten so inflated by the time a loan closes title escrow real fees you owe another 50k on a average house its all a scam do it yourself and save the money stop letting thems scare tactic you into spending more which is the way america works better get a lawyer or your doomed when the lawyer is what dooms you in the first place make sure you loan is done right and that you get an inspection for your house which you hire electircal pest roof so on a realtor will add more $ to use there guy you can find one cheaper and unbiased. If anyone uses fear to intimidate you to a certain way of doing biz theres a reason they want your money! Realtors are a joke. Get real jobs. Everyones a realtor my uncle bob. cousin sue so on. You put 50 down payment and they basically suck that right up. Houses should sell for a flat fee no more no less no matter the cost its a transaction why should you be entitled to 1000000 commission on a million dollar home did you build it no. Did you work hard to sell it. No You type a description shorter than this blog and show it a couple times not knowing crap about it if the people like it they buy it. You should be ashamed of yourself you realtors are directly part of the housing problems inflated values because of your fees. And now you are paying for your greed. Good . I hope you all go under and out of biz and suffer. And they do conspir against fsbo I had a group here looking at my house and there realtor was telling them they had to go to look at other houses this after the couple was asking questions of interest about the house the realtor clearly did not want them to buy this particular house and probably wanted to push there own listing to collect the full 6% commission instead of 3%. They are crooks.
I'll always show FSBO if my client wants to see it. However, before any offers are made, I present a "one time listing agreement" to the seller for a very low percentage to cover my 2.7% and maybe a .5% more to cover the seller's paperwork with no fiduciaries to the seller. If they are unwilling to do that, I require my buyer to pay me the 2.7%. If no one wants to do either (which has NEVER happened) then I would walk away and chalk it up.
I have showed my house one hundred times more fsbo than using a realotor the fact is in this housing market buyers know that if you are using a realtor they are going to pay another 20k and up plain and simple now i still wasnt able to sell fsbo but i went back to a realtor and its a ghost town fsbo is the way to go they scrounge the streets looking for fsbo signs. When you go with a realtor you get ripped off they get ripped off and the realtor does little if any work. except waiting by the phone and they dont even answer the phone any more and are late to calls for house viewings. Realtors should be removed from the sellling process then you wouldnt need a lawyer because you wouldnt be getting reemed up the you know what for your hard earned dollar. Passing your real exam doesnt give reason for the huge commissions you get and if you were working at much lower % prices of houses wouldnt have gotten so inflated by the time a loan closes title escrow real fees you owe another 50k on a average house its all a scam do it yourself and save the money stop letting thems scare tactic you into spending more which is the way america works better get a lawyer or your doomed when the lawyer is what dooms you in the first place make sure you loan is done right and that you get an inspection for your house which you hire electircal pest roof so on a realtor will add more $ to use there guy you can find one cheaper and unbiased. If anyone uses fear to intimidate you to a certain way of doing biz theres a reason they want your money! Realtors are a joke. Get real jobs. Everyones a realtor my uncle bob. cousin sue so on. You put 50 down payment and they basically suck that right up. Houses should sell for a flat fee no more no less no matter the cost its a transaction why should you be entitled to 1000000 commission on a million dollar home did you build it no. Did you work hard to sell it. No You type a description shorter than this blog and show it a couple times not knowing crap about it if the people like it they buy it. You should be ashamed of yourself you realtors are directly part of the housing problems inflated values because of your fees. And now you are paying for your greed. Good . I hope you all go under and out of biz and suffer. And they do conspir against fsbo I had a group here looking at my house and there realtor was telling them they had to go to look at other houses this after the couple was asking questions of interest about the house the realtor clearly did not want them to buy this particular house and probably wanted to push there own listing to collect the full 6% commission instead of 3%. They are crooks.
i think i know you,,,you are the guy relieving himself off the front porch,,,when i brought potential buyers to look at your fsbo...
I haven't read through the whole thread, but just wanted to chip in my 2 cents. We did a FSBO for a few months and the realtors that did bring clients in were incredibly rude - one even made fun of a picture of my children hanging in the living room. Some realtors who brought people in were trying to convince their buyers not to buy our house the minute they walked in the door. When I tried to dispute something a realtor said (no , we do not get noise from the fire dept, they do not put their sirens on, please call and ask them) the agent actually rolled her eyes, looked at her client and said, "So say's the owner".
I think this is very regional, as my parents did a FSBO twice with no problem. In Bergen County, NJ, however, it's like the freakin mafia.
I have a long-standing debate going with several friends and co-workers and am hoping that everyone out there (especially realtors) will chime in with their opinions.
For those people who decide to list their house for sale by themselves and either use FSBO (for sale by owner) or pay a realtor a small fee (usually $200-$500) for just an MLS listing with no other services.....are those sellers avoided by realtors? Meaning, do realtors avoid showing those listings to buyers? Or, do they not care at all because they are still getting a good buyer agent fee (usually 2-3%)??
One side argues that realtors conspire together to force these alternative sellers to end up using the services of a realtor......or they will have a very hard time selling their house. Why would they do this? Realtors might be offended that people circumvent them and their training and experience.
The other side argues that realtors don't care or pay attention to it at all.
Now, with that said.....one final question....if a seller did decide to list the house themselves (but still use MLS) would it be appropriate to have an exclusive broker-only open house?
All comments are much appreciated.
Do you really expect a honest answer from the pro's? If they say "yes" we do conspire...they will get a lawsuit against them since that isn't allowed according the fair housing act, if I'm right....
Do realtors go to homes faster for which they will get a higher commision, I bet they do. One of the realtors I worked with called me once to ask if I would give more to another realtor since he called not to see the home but wanted to know upfront if he could get a higher commision than the 3%, not that he had a client to show it too..
IMO most realtors will first try to sell a not FSBO and work with another realtor, but if the client likes the house they will go to any home, so IMO it is how good is the price, location, etc...and no realtor will stay away from a good deal and nice home to go and show.
I sell my homes FSBO, but give 3% to the buyers agentor 3% to the buyer if the buyer has no agent so either way I will pay the 3%.
I want to add to it that if more people go FSBO which I expect in todays market since every one wants and has to save some money since the gas prices are so high....the realtors have to accept it and will show with out a doubt a FSBO, because they need their income too.
I hope you all go under and out of biz and suffer. And they do conspir against fsbo I had a group here looking at my house and there realtor was telling them they had to go to look at other houses this after the couple was asking questions of interest about the house the realtor .
Ohh the anger, the hatred, and the complete lack of understanding.
You think it's possible that the Realtor had some idea of what is out there, and that this house is not the right house for the client? Oh wait, no, it's YOUR house, so it was the perfect house, and every buyer who came in should have immediately placed a full price offer. Pardon the Realtor for actually advising THEIR client tho go out & see the other available inventory before rushing to a decision to buy YOUR perfect house. What was he thinking?
You know once you get past Macaroni's serious grammatical errors, the guy is basically right.
If agents had so much power over home pricing don't you think we would continue to have overinflated homes. I appreciate the belief that I can control market systems like that, but alas...I can't.
Supply and demand is out of my control. I appreciate the power trip though!
Some people like Macboni are DIY'ers, and what I have found with some DIY'ers is that they don't appreciate that everyone is not like them. They think that because it is easy for them, or they are willing to put forth the effort to take on a task themselves, everyone else should. The fact is that many people just don't want to do it.
Really, I don't get the debate here. Sell it yourself, hire it out both are totally fine...let each person decide what is best for them and forget the generalizations.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
