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Are agents biased against FSBO's? I didn't want to believe it at first, but it's beginning to look more and more like it's true.
Here's the situation: We listed our home just over a year ago with a flat-fee realtor (so basically we are FSBO). There are eight other houses on our street for sale (it's a new neighborhood, most are unoccupied builder "spec" homes) and they are all using various local realtors.
In the 13 months we've been on the market, we've had six showings. But oftentimes when I look out the window or drive up the street, I can see showings going on at the other homes on the street. I'd estimate that for every one showing we've had, each other home has had five. Our home is priced a tad higher than these other ones, but ours was custom built with all the upgrades, and the other homes on the street are bare-bones spec homes.
Recently a house on our street that was practically identical to ours sold. The buyers never came to look at our house at all. I just assumed that they only wanted a brand new home, not a re-sale like ours. But I recently met them, and they said that they were actually looking for a re-sale, but that this new spec home had everything they wanted, so they bought it. When I asked why they didn't come look at my home, they said they had no idea our home was identical to the one they bought, and that their agent never mentioned it to them.
For each of the six showings we've had, the buyers agent has always told us that our home shows beautifully and that we've got it priced correctly. But I'm wondering why they take most of their clients to the other homes on the street, and very seldom come to ours.
Out of the eight homes that have been for sale on our street in the past year, all but two have sold. I'm really wondering what's going on.......
I got tired of all the different fsbo sites half of which are barely maintained so I quit trying. If its not on the MLS/realtor.com/zillow I don't know about it.
-Looking buyer
Are agents biased against FSBO's? I didn't want to believe it at first, but it's beginning to look more and more like it's true.
Here's the situation: We listed our home just over a year ago with a flat-fee realtor (so basically we are FSBO). There are eight other houses on our street for sale (it's a new neighborhood, most are unoccupied builder "spec" homes) and they are all using various local realtors.
In the 13 months we've been on the market, we've had six showings. But oftentimes when I look out the window or drive up the street, I can see showings going on at the other homes on the street. I'd estimate that for every one showing we've had, each other home has had five. Our home is priced a tad higher than these other ones, but ours was custom built with all the upgrades, and the other homes on the street are bare-bones spec homes.
Recently a house on our street that was practically identical to ours sold. The buyers never came to look at our house at all. I just assumed that they only wanted a brand new home, not a re-sale like ours. But I recently met them, and they said that they were actually looking for a re-sale, but that this new spec home had everything they wanted, so they bought it. When I asked why they didn't come look at my home, they said they had no idea our home was identical to the one they bought, and that their agent never mentioned it to them.
For each of the six showings we've had, the buyers agent has always told us that our home shows beautifully and that we've got it priced correctly. But I'm wondering why they take most of their clients to the other homes on the street, and very seldom come to ours.
Out of the eight homes that have been for sale on our street in the past year, all but two have sold. I'm really wondering what's going on.......
If it's not on the MLS, it's most likely being overlooked. Agents like to deal with other agents, and buyers prefer this as well. Dealing directly with a homeowner can sometimes be an annoying process. I am also, as someone else mentioned, wondering what you are offering as a BAC?
In this market, more than ever, it's best to have an agent; because of the exposure of the MLS, Realtor.com, Listingbook (if it's come to your area yet via the MLS) and many other sites.
Most times too, and agents struggle with this everyday, homeowners think that their house is worth more than it actually is.
Also, when an agent lists, they have brokers' opens and public opens which reaches so many more people because of the MLS.
If I were you, I would go get an agent.
Our home is on all the major sites... MLS, Realtor.com, etc.
We are offering a 3% commission, the same as what any buyer's agent in our area would receive.
Our online photos are very good quality. Maybe even a bit better than the ones from homes that have sold around here.
I guess what I'm saying is that our listing is similar to all the other's. The only difference is that we do not have an agent representing us.
I can understand that some buyers are looking for new construction only and they don't want to see anything else. But I'm wondering why, if a buyer tells their agent that they are looking for certain criteria, then why doesn't the agent show ALL the homes in that neighborhood that meet that criteria? It really does seem that we are being overlooked because of our FSBO status.
It seems that the other homes aren't selling either - not just yours. (You say 8 are currently for sale - and only one just sold.)
You're a "used" house at a higher price on a block of new homes. By that comparison, some buyers see more value in new at a cheaper price vs. used with personal upgrades. Sometimes (a lot actually) brand spanking new with builder grade finishes will win over "upgrades" that perhaps aren't as neutral or a more lived in look overall.
It's possible that those buyers made a decision to purchase before their agent brought your house to their attention. Or maybe your house was out of their price range - would those buyers admit it to you? Maybe your home had a quirk that those buyers didn't want.
There's a multitude or reasons why agents don't show certain homes. It doesn't necessarily have anything to do with your representation if you're listed in the MLS.
One critical thing that hasn't been brought up is price. How are you compared to them? Also, are the other ones larger or have an extra BR? There could be other reasons that yours isn't popping up.
Oh, and agents aren't biased against FSBO's. It's just we don't always think about them. There is no convenient way to know the details, how to show it, etc.
For me, if there were several homes to choose from in a neighborhood with brand new spec homes and resale homes, I would definitely take a look at the brand new ones first. That is, unless the resale home is priced significantly lower than the new ones, but I would still look at the new ones because it's easy.
I prefer to look at homes that are vacant. I don't like to inconvenience sellers unless there's something about the home I've gotta have. Usually, the brand new ones are available for people to view, anytime and at their leisure. It's easy to squeeze in because the appointment time is usually very loose with little or no notice needed. If I put it on the "maybe" list, I don't feel strange taking a second or even a third look.
Another thing about buying brand new, some builders offer a 1 year warrenty and will come back and "fix" things. Sometimes you can still pick out colors or landscaping if the home is not completely done. The home is a clean slate. No unusual colors or "other" people's decor. No nail holes and scuffs/dings on the walls.
I think it's hard to compete with brand new homes these days. I think realtors may show the brand new homes first because it's easy and people aren't finding any reason to look beyond those if they like the neighborhood and the house. They just buy that one. In this situtaution, the only reason why I would look at yours is if your price was much lower or if you've got an incredible lot that's better than all the rest. Something has to be unique.
I feel for you. Good luck.
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