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I've been planning on selling my home FSBO and realize that one way or another I should list on the MLS for maximum exposure. I've been considering one of those generic Internet flat fee sites offering services basic MLS listing packages for $300, etc. until I just recently ran across a local Realtor offering a listing package for $1000 flat fee plus 3% offered to the buyer's agent.
Included in the $1000 is:
-Photos of the home.
-MLS lock box.
-Signs.
-MLS submission (for all major real estate websites)
-Handling of all paperwork and negotiations from start to finish.
No local advertising in the paper. No flyers printed. I would field phone calls from buyer's agents wanting to view the home.
I'm confident in my ability to take appropriate photos of my home and already have professional-looking FSBO signs. The lock box probably isn't urgent as I have dogs at home that I plan on taking offsite when buyers visit (ie, while my showing times are flexible, I'll need to come home anyway at the time of the showing and will leave the home unlocked). I've gone through one FSBO transaction as a seller before with vacant land that was very straightforward, though I'm less clear of the paperwork involved with an actual home sale. I feel reasonably comfortable analyzing a submitted offer, but obviously would feel more comfortable with an agent looking it over. I also would offer the 3% buyers commission either way. I've also already had two comparative market analysis's completed with similar results, so that I feel comfortable with my potential listing price.
So my question is this: Is having the sign of a local agency, having a local agent handle closing paperwork, and having an MLS lock box worth the extra $700? Are buyer's agents more likely to check out a home listed by a local agent MLS versus a generic flat fee MLS agency?
I'm being laid off from job Decemebr 31st, so every dollar is reasonably important at the moment. Thanks.
I guess you know what you can expect as an answer. If a realtor answers it probable wll be an answerlike "in todays market it won't sell"....
IMO it depends on how the price of your house is and the pictures and description of your house....lately many bankowned have been sold in my neighborhood and although listed with realtors, they never show up to show the home and just give out the lockbox numbers...probable because the commission is low for them and they know the price is low so it will sell and they did sell fast.
If your house as a lot of issues than you might need a realtor but if you know what you are doing you could at least try to do it they way you did before...
If you would sign with a realtor I would suggest you sign only a short term contract and if they keep doing what they promiss upfront, than you can extend the contract. I know it isn't always about selling the home if the realtor is good, it is also about if the realtor keeps doing what he promissed before signing the contract and if he is still doing it after 2 or 3 weeks into the listing...Many realtors give up after 2 or 3 weeks and move to the next listing or tell you that you have to lower the price. A good realtor will start with a reasonable listing price and not lower it all the time. If the start lower it a buyer could think and wait for the next price discount.
A good realtor who has self confidence will sign a short term contract and know you will extend it.
None of us will know it's a good deal, or a great deal or an awful one until it's over.
It's over when you close - and you got a % of your asking price, minus concessions, and repairs.
or
When you are not getting the response you need, and hire a full service/full fee or menu of service brokerage for other services that you feel you need.
So post a link to the statute or regulations vice chair.
Oh, because you don't know how to do a Google search?
Here are two links, one of them giving a very lengthy description of what it means so that a 5th grader can understand it.
I am currently listed with a Flat Fee MLS agent and I've had plenty of realtors calling me for showings.
I am with a listing only Broker and I got a ton of realtor calls too until my house went under agreement and then the sale fell through and since then it's been dead in comparison.
The listing agents must negotiate on the behalf of their clients, they must provide comps to their clients, they must help get their clients to closing, and several other "minimum requirements".
Neither of those links say this. They say that they have to answer their questions, but it does't say anything about providing comps, nor negotiating. Assisting to me doesn't mean negotiating. From what I read on that form, a seller could still fill out their own paperwork and ask the agent whatever questions they wanted, and then give the document back to the listing agent to forward onto the buyer agent.
Neither of those links say this. They say that they have to answer their questions, but it does't say anything about providing comps, nor negotiating. Assisting to me doesn't mean negotiating. From what I read on that form, a seller could still fill out their own paperwork and ask the agent whatever questions they wanted, and then give the document back to the listing agent to forward onto the buyer agent.
I don't have time to argue with you, but what do you think this means: "may not instruct another broker to negotiate directly with his or her client." That means the LISTING AGENT must do the negotiating with the buyers' agent!
I don't have time to argue with you, but what do you think this means: "may not instruct another broker to negotiate directly with his or her client." That means the LISTING AGENT must do the negotiating with the buyers' agent!
You aren't arguing with me, you are explaining it to the public. The way you explained it before doesn't jive, from my perspective, with what those links say.
And no, for the record I don't think that because it says that it means that the listing agent has to negotiate for the clients. The client can still strategize their own negotiation, they just have to present it through the listing agent. I think that is different than an agent handling the negotiation.
A client can still write up their own offer without agent assistance if they want to and then just give it to the listing agent. The agent just has to be available to answer questions.
Is forwarding a fax negotiation by your definition?
I am with a listing only Broker and I got a ton of realtor calls too until my house went under agreement and then the sale fell through and since then it's been dead in comparison.
Often the difference in agents is not apparent until "it" hits the fan. If there are no problems you may never know different. So it's not how much you're paying, but how much your netting and if you hit any real problems or not.
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