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For what it's worth, in Florida there are several companies that sell MLS listing services only with no other contractual obligations. I've used them, it's a flat fee to list your property on MLS and nothing else. This is one of them, for example:
I also engage the services of an experienced real estate attorney as well. I've sold several homes this way quite successfully and saved a significant amount of money in the process.
RM
Me Too! The commission money looks so much better in my pocket and it is always a good idea to use a professional real estate attorney to monitor the process. Glad you can see through the b.s.!
Hopefully, enough information now online the tactics will no longer work.
Me Too! The commission money looks so much better in my pocket and it is always a good idea to use a professional real estate attorney to monitor the process. Glad you can see through the b.s.!
Hopefully, enough information now online the tactics will no longer work.
I have both bought and sold a number of properties without the use of a real estate agent, only a trusted and very competent real estate attorney. It makes the process go so much easier and avoids all of the BS that comes with someone trying to market properties to you. I will say that going this way is not for everyone, however, someone who is willing to invest the time and effort in the process for the largest purchase they'll ever make in their lives will find it to be quite rewarding in the end, both personally and financially.
We especially appreciate the presence of an attorney in the process, as when there are hiccups the minute our attorney gets involved things suddenly seem to get worked out. Not sure why that is, but...
Most states have all the necessary forms available online free of charge. A vanilla FSBO deal requires both parties to fill them out, then the seller takes the signed documents and earnest money deposit to a title company and they schedule the closing date. Money changes hands, the deal is done.
For what it's worth, in Florida there are several companies that sell MLS listing services only with no other contractual obligations. I've used them, it's a flat fee to list your property on MLS and nothing else. This is one of them, for example:
I also engage the services of an experienced real estate attorney as well. I've sold several homes this way quite successfully and saved a significant amount of money in the process.
RM
Quote:
Originally Posted by justanokie
You do realize that a FSBO can pay a small fee to a realtor to have their property listed on the MLS without signing any contractual obligations regarding the sale of that the property?
When you are on a MLS system, a listing agreement has been executed with a real estate agent. The listing agreement is for "entry only services." So legally there is a listing agreement, but the agreement is for entry into the MLS with no other services. So there is a legal listing agreement and a contract in place for one service and only one service. MLS entry.
Listing agreements do not need to have a full range of services to be considered listing agreements. Most FSBO's that do entry only listing agreements, don't see it as a listing agreement because they only get the one service. A real estate agent cannot market a property, which is what the MLS is, without an executed contract to do so. That contract is informally called a listing agreement.
You all are saying the same thing as 2B is saying, but you just aren't calling it that. An entry only MLS listing is an executed contract with a real estate agent as required by state laws to market a property. It is just limited in scope to that one service and nothing else.
When you are on a MLS system, a listing agreement has been executed with a real estate agent. The listing agreement is for "entry only services." So legally there is a listing agreement, but the agreement is for entry into the MLS with no other services. So there is a legal listing agreement and a contract in place for one service and only one service. MLS entry.
Listing agreements do not need to have a full range of services to be considered listing agreements. Most FSBO's that do entry only listing agreements, don't see it as a listing agreement because they only get the one service. A real estate agent cannot market a property, which is what the MLS is, without an executed contract to do so. That contract is informally called a listing agreement.
You all are saying the same thing as 2B is saying, but you just aren't calling it that. An entry only MLS listing is an executed contract with a real estate agent as required by state laws to market a property. It is just limited in scope to that one service and nothing else.
The protections the seller gets from these agreements stem from the MLS rules which prohibit MLS members from soliciting that FSBO to list and sell.
Otherwise the listing would be a beacon to agents and the seller would be inundated by solicitations from agents who approach FSBO sellers to list for them.
"At least where I am in Raleigh/Cary/Durham/Chapel Hill, NC..."
I think it's reasonable to assume that state-required disclosures are available from some state source, not only through agents.
there are types of fee-for-service outfits that part of their limited representation is to provide you forms commonly used by agents in your market.
I don't know of any MLS that allows, and really don't know why they would, a property to be listed on the MLS without some level, no matter how minor (entry only), of representation
It is always fun to see them frothing at the mouth when they think might lose a commission. Sadly, many have forgotten that in the United States of America we have the right to chose who and whether we enter a contract. I hope that many will read these threads and understand that it isn't rocket science to sell your own property or buy one. No one should have a monopoly controlled by he commissioned sales people who act in their own financial interest.
The protections the seller gets from these agreements stem from the MLS rules which prohibit MLS members from soliciting that FSBO to list and sell.
Otherwise the listing would be a beacon to agents and the seller would be inundated by solicitations from agents who approach FSBO sellers to list for them.
"At least where I am in Raleigh/Cary/Durham/Chapel Hill, NC..."
Same here. In Oregon, we can't solicit another agents' listing, even limited rep listings. Doing a limited rep listing can be a great thing for FSBO's that way. Agents should not be soliciting their listing if they are on the MLS.
Same here. In Oregon, we can't solicit another agents' listing, even limited rep listings. Doing a limited rep listing can be a great thing for FSBO's that way. Agents should not be soliciting their listing if they are on the MLS.
Agreed. And very little frothing.
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