Yesterday, I listened to a customer tell one of our wonderful customer service representatives that he was tired of having Realtors call him 5 times each day trying to scare him, telling him he will fail, asking to list the house, etc. Simply put, this is childish activity and down right unethical. I understand agents need to make money but they should not "scare" people into doing something - it is not good business and it is morally wrong.
For Sale By Owner customers have the right to sell their homes without an agent AND without being bombarded with scare tactics. This would be like eBay.com telling someone they can not sell their furniture at their Church Bazaar (or garage sale). Or, a travel agent calling a customer and telling them they will not pick the right hotel at the right price at Walt Disney World when they book on-line, without an agency. Or stock brokers telling good, hard working citizens they can never buy and trade their own stocks on-line, that it is too dangerous!
Life has risks. I understand this, as do our important and respected customers on ForSaleByOwner.com. Risks bring reward. These hardworking citizens are empowering themselves to be successful and improve their financial security. So please let every For Sale By Owner seller - regardless of where they are advertised - sell their home in peace. Thank you.
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10 comments:
Well said!!!! We are selling our home through "ForSaleByOwner.com". The sellers showed the home. Then two different agents showed our home to two different buyers. Both buyers bought other homes but were very interested in our home. One made a low ball offer and seller countered but the buyer's counter was still a low ball recession offer. Both real estate agents expected full commission if they closed the deal. We refused to pay full commission but would pay something. Last offer was rejected by seller. This has made us very uneasy if our home will sell using For Sale By Owner.
We have had customers encounter the same type of Solicitation here in Houston, and have come up with what we think is a great idea, and it has worked well for our customers. If/When an agent calls trying to bring a buyer to your home, be upfront with them - tell them you have priced your home to sell without a commission, but you will be happy to allow them to bring their buyer in, but the posted sales price will be inflated 3% to cover any commission. That way the Seller is happy that their home will sell and the agent will get what they want most - their commission.
Everybody wants to be a listing agent - guaranteed $$ - But if they don't have a buyer, they will typically stop the harassment knowing you would be willing to pay a buyers agent.
This is truly unethical and dangerous too. This is unavoidable behavior of agents. I agree with you and your services to allow owners to sell in peace and of there own choice.
I completely agree! I am tired of agents using unscrupulous tactics to get for sale by owner people to list with them.
for sale by owner
That's certainly true, homeowners have the right to sell their house with out using any agents
Scott@Financially Free Landlord
As an agent I disagree. I work hard for my $$, and earn it. Do you take your car to your gardener to fix. No. I understand that people have the right to sell their home, and respect that. I also know that many agents get a listing and just wait for someone to find them a buyer. As an agent, I have more resources to sell a home at a qualified price. I invest my own income into my clients homes to sell it. I dont get paid unless they do. FSBO's are usually fired up and confident when they start thier journey. That's great, but not that great when they realize they could have made more money by usuing a an agent. In many cases I see a FSBO get less money, spend longer days on the market, and frustrated at the end. What many people seem to forget is that your house has to stay withing market value. You let that house sit on the markey, and thats money it cost you every month in mortgages, taxes, and insurance. The fact is, is that it does take a FSBO on average 2-3 times longer to sell their house for true market value. Let's do the math. You spend $1500 a month on morgage and related expenses. The house in a great economy sits on the market with an agent on average 60 days, = $3000. FSBO sits on the market 180 days, = $9000. Give or take the numbers, the FSBO really does lose in the end. Agents fight to get you the highest price. I wish all FSBO's the best, but at least talk to an agent and interview for the right one. The right agent will charge you a full 6%. Discounted agents usually do discounted work.
My typing is horrible so forgive me.
Sellers are missing some very import information if they are not listening to the agents that "drop" by. For example, we do have the most complete real estate data available. We know the market because it is our JOB to know the market. Just as it is the job of your financial adviser to know the market. Imagine if I, a REALTOR, tried to do your job how would I do? I venture to guess I wouldn't do very good.
Second almost 90% of home buyers call an agent, and the agent is going to show properties first he has listed, second homes that his company has listed and third those in the MLS. After that there is no real reason to go any further. We agents have a commitment of sorts with our sellers, our companies sellers and those sellers who have listed into the MLS.
Fireball, you said that you received low ball offers, part of the reason is that the buyer knows that one you are either over priced, or started by removing the 6% most DIY sellers are trying to keep. Are you surprised that both agents wanted a "full commission" they are in a very bad place. In Va. we are allowed to represent a buyer and seller but it puts us in a very difficult legal position - Dual Representation. Further, both agents would have to do the work that is commonly done by the sellers agent which is considerable. So yes both agents should be paid fairly.
Fireball, odds are that your home will not be sold as a FSBO and you are losing valuable market time attempting to do so.
By the way, you posted this in October, what is the status today?
Huston FSBO your logic is flawed, generally FSBO homes are over priced and will not appraise at the asking price, let alone adding 3%. Also, many agents cannot accept a 3% brokerage fee for working both sides of a transaction, their buyers contract usually prohibits it. In addition you have just turned away what you wanted the most, before even pen and paper meet, an offer. This might be another reason why only 6% of homes sold as FSBO nation wide ever close.
Sean
My Logic is FLAWED?? How so - If Sellers get an Independant Appraisal before putting their home on the market - How is it overpriced?? Are you saying that the 4 online classes that you probably took to get your lisc, makes you a beter judge of value over a lisc. appraiser? If more sellers knew their true value going in judged by an independant
3rd party, not someone with a monetarily vested interest (Agents Commission)we would see a quicker turn around time on all sales. Also, can you back up your only 6% of FSBO's actually sell number, other than some spewed rhetoric or cool-aide supplied to you by the NAR? Since these sales are typically not tracked - I would love to see the data behind your statement!!
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