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Have a question for buyers (and sellers). Came across a new startup agency and they want to list homes but have buyers view them directly with the sellers. So sellers show prospective buyers the homes. They list homes in the MLS at 1%, plus offer a buyers agency fee - but if you view the home directly with the owner then the total commission is 1% and both seller and buyer save. They are using technology pretty heavily - or plan to. Buyers agents can show the home also if they have a client. Every buyer is first approved for financing.
My question is: as a buyer - do you have any issues viewing a home with the owner? or as a seller - do you have any issues showing a buyer? This isn't for everybody but ... what do you think of this type of arrangement?
Have a question for buyers (and sellers). Came across a new startup agency and they want to list homes but have buyers view them directly with the sellers. So sellers show prospective buyers the homes. They list homes in the MLS at 1%, plus offer a buyers agency fee - but if you view the home directly with the owner then the total commission is 1% and both seller and buyer save. They are using technology pretty heavily - or plan to. Buyers agents can show the home also if they have a client. Every buyer is first approved for financing.
My question is: as a buyer - do you have any issues viewing a home with the owner? or as a seller - do you have any issues showing a buyer? This isn't for everybody but ... what do you think of this type of arrangement?
well, I'm sure it will appeal to a few people, but all I can think is yuck.
It's the rare seller who would represent his own property in a way that would actually appeal to a buyer. Most of them will just shoot themselves in the foot by being so biased and emotionally attached to the home.
How so? Wouldn't a seller know their property better than anyone else?
Yes of course, but that's not going to help sell the house.
99.9% of sellers have an emotional attachment to their home.
Any little criticism of it will feel like someone has insulted your favorite child. This will make the seller defensive.
The buyer who is looking will sense that and won't feel free to voice his/her real opinions.
The whole exchange will be uncomfortable for both parties, but especially the buyer - who will promptly and politely say goodbye and move on to seeing homes listed with agents.
I don't need to hear the sellers' version of events. There are enough landmines in this business anyway. The last thing buyers and sellers need is to make it more personal.
1. How many sellers are always available for a showing? If you work that could be a problem. Vacation? Another problem.
2. How many sellers would be comfortable in that setting? They may do more harm than good.
3. How many sellers would feel uncomfortable alone in a house with a stranger?
A terrible idea for all the reasons cited above, and more that I can think of. But since I suspect this is just somebody looking to do free market research using this forum for information, I'll pass on 'helping.'
Yes I am doing some research - is that a problem? Trying to get a variety of opinions on things and came across this startup and was intrigued by the model of them actually wanting buyers to view homes directly with sellers.
Seeing as FSBO's do this, have to imagine many people don't mind - while others wouldn't want to see it without an agent. I think most replies have been from agents (best I can tell) - except the last one who remembered me from a previous post.
So is this not the startup that you're working with but another one?
Quote:
Originally Posted by illtaketwoplease
Hi-
I am working with a fledgeling tech startup (organized at startupweekend two weeks ago) to research an app for homesellers and would like to ask if there is anything about the process you feel could be improved upon or think should be changed.
Not so much the use of an agent, but more along the lines of things that you would like to see to reduce stress or be better informed. For instance - did you receive feedback after every showing? Was it helpful? Could you keep close track of your competition (others selling similar homes) to see how they were doing?
Anything you can think of is helpful. Feel free to contact me privately if needed. Tks.
And if you're trying to get a variety of opinions, why are you arguing with the ones you're getting?
This is another startup that I came across that is being launched out of a tech accelerator in WI.
Who is arguing?
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