 Posted 6/4/2008 9:29:28 AM
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| Our house was on the market in 07'. We expired, renovated and are testing the waters as fsbo right now mostly due to the fact we put much more into the home then we can expect to get back in a declining market-so we would like to save on dual commission. I have contacted various agents when I see them either list or sell a home comparable to ours. I have offered 3 to 3.5% commission with the assumption they or their office have a list of buyers who declined or lost out on their comp listing. I have contacted agents regarding homes they are selling that we are interested in&include a copy of our fsbo. In 3 mo's I have had 1 realtor try to make a match of this approach but mostly I have had realtors simply ignore my emails or calls(that especially amazes me when I'm interested in their clients home). In the end they&office will receive a good commission when times are slow, make a customer happy who in turn will probably be a return customer and/or refer this realtor's services as they went above and beyond the basic MLS to get them a home. I have a Mom who has been an active/effective realtor for 30 yrs, I see what time&effort goes in to her job, FSBO's have always been almost a bad word but in this market even she,knowing the financial requirements we're weighing in order to buy up in our expensive county, she has suggested selling on our own.. wish the local realtors would feel the same. Just giving you a realistic picture to not expect too much push or traffic via realtors. Good luck.
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Posted 6/15/2008 12:10:20 PM
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I have my listing on craigslist and a yard sign. I dont mind paying a realtor 3% because they are going to have to work for it if they get a buyer to sign.
Here is how I get traffic to my property.
I drive around in other neighborhoods and look at each comparable property to mine and write down all the negatives a potential buyer would have with the other property when comparing it to mine. Such things like no backyard, less frontage, higher priced and more property taxes, detached or small garage, unkept property or neighboring property unkept, neighborhood reputation, higher association fees, no community pool, pool in backyard, few children in neighborhood, poor builder reputation, poorly designed layout (sometime the realtor flyers have the inside layout details it or it can be veiwed on the county tax registry) etc.
Then I call the listing realtor and inform him about why a buyer might like my property better. They know their listing is not selling for perhaps one of the reasons I given them and might bouce a buyer my way. (I offer them 3%). They might even call a buyer's realtor who rejected his listing to inform him about mine.
I look at it this way. I offer stiff competition to the full service realtor group and to them the sooner mine is off the market and sold or listed with their group, the better it is.
Great idea? I ought to write a book.
Iowayman@yahoo.com
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Posted 6/16/2008 7:33:33 AM
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I think it's worth making flyers, but not necessarily mailing them to agents. You will get calls from agents, but more calls to solicit your business. It gets frustrating. I've had a few listing agents come in and preview my home. They end up giving me a 3 minute presentation on how they can help me sell my home. I feel like kicking them out because my flyer states no listing calls please.
The real estate market has slowed down so much in the last few years. It's a waiting game. My husband and I can't help but to take it personal. I mean, our house is priced to sell, shows well, and we've advertised it everywhere we can think of. The hard part is that in our neighborhood alone, there's 8 homes for sale as well. My justification for not putting it in the MLS yet is because buyers will drive around the neighborhood if one of the other homes interests them.
Good LUCK!!!
VABeachFSBO
http://www.owners.com/WTP9167
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Posted 8/12/2008 7:41:50 AM
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VABeachFSBO has it right. I have had too many bad experiences with realtors. I am sure there may be a few (very few) who are sincerely helpful, but most are not going to try to sell a FSBO. Especially when the market is down, FSBO homes are a realtors competition. They want to decrease the FSBO market. They will tell you how can get you more for your property if you list with them, that they are different from most real estate companies, that they preapprove buyers before they bring them, etc, etc. So they will tack on another $10,000 or so to your property and list it on the MLS. #1 It's like playing the lottery. They let it sit there and if another real estate company gets a buyer (usually unlikely) they will get a 3% commission for JUST listing it on the MLS. #2. They have pulled any FSBO traffic to their office and any inquiring buyers are directed to come in to their office. Once they go to the realtor, they are shown other homes in a higher price range. You rarely see buyers coming to your home. The last realtor I tried ( knowing I was probably making a mistake) was the same. When I canceled the contract legally, they left my house listed all over the internet to draw traffic. I was getting absolutely no calls. They told me, it was impossible for them to get rid of all the advertising on the web. It was amazing how fast the ads came down after I threatened them with my attorney. And amazing how buyers started contacting me after that.
I will never use a realtor again, no matter how SWEET they appear.
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Posted 9/9/2008 5:22:27 PM
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I'm kind of doing the same strategy you are. So far, I had one realtor come in for a viewing (this is day 8 for my listing). We are debating the MLS which I signed up for, but there is a discrepency I saw in the local affiliate verbage so I'm making some modifications.
With all of these things, you figure, it does not hurt to ask. And, your cost is very minimal for these efforts. I have not been in this for too long, but the expense for a direct mail is less than an ad in the newspaper so you might as well give it a shot.
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Posted 9/9/2008 5:34:56 PM
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There are some great realtors out there. I'm friends with a couple good people, but business is business and I can't afford to go with them, and to officially list, they don't want to take my 2.5% with me.
I was tempted to go with a realtor. I heard one company in Cleveland, Ohio was good. So I went to an open house, pleasant gentleman, and told him I was doing this. Of course sales are sales and he went into the realtor sales pitch. Which I understood but i started walking away because I wanted to look at the house. Then he said how FSBOs try to pull one over on buyers and don't hand out disclosures. That got me- I said, that's funny because every FSBO i went to had their disclosure and I was planning on doing them for mine. He proceeded to then tell me what a stupid mistake I was making, how there was so much out there I did not know, and, how on earth would I know what to do during an open house? how would I know what to do with the signs?
I literally walked away and said, funny, I managed to graduate Magna Cum Laude and even get an MBA! AND begin law school. I think I was just absolutely floored he called my ideas stupid. I don't even use that word with my staff or dog.
I didn't mention to Dr. McRude, I have a degree in communications and marketing, so I think my Photoshop skills and award winning design abilities could somehow give me a quarter ounce of intelligence to create a sign to put at the end of the drive.
Wow, rudeness. I would NEVER want a person like that showing my house.
Kind of like, you do sales, your job is not to dispute the other persons viewpoint but accept them for it and do what you have to do to get on mutual playing ground to close the deal. I do sales, not real estate, but have no idea what school this chump went too. I did like the house, but out of principle, really didn't want to buy it from him.
Again, there are good realtors out there. But Hello, wake up and treat people with common courtesies. You never know where your paths may cross with someone again.
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Posted 11/2/2008 10:06:56 AM
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You'll have more luck is you take those flyers to MORTGAGE BROKERS. Especially the ones who are actively advertising. They are getting calls every day from people who want to get preapproved for financing. 0% commission - when they help you find a buyer.
They will also come to your open house to prequalify buyers on the spot.
mortgage brokers don't make any money unless they write loans - so they eager to help you find a buyer - and it won't cost you a penny
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Posted 11/7/2008 10:27:18 AM
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| Being a Realtor myself, I can't speak for all realtors, but only myself. I was reading some of these posts and they are most all true. It is very difficult today to find an honest agent that is not just out there for the money, but out there to help their clients with their needs. I just started in the real estate industry, and I made it my personal goal, to not do it for the money, but to do it to help people achieve their dreams. Money doesn't make happiness, it is the feelings of fullfillment that makes a person happy. I enjoy helping people and that is why I do what I do. I would be MORE than happy to try and assist you in anyway possible. I may not be in the same state as you, but I would be able to give you some pointers on how to go about your marketing and maybe help you figure out why your home has been on the market for so long. No catch, I am just an honest realtor that likes to help people, not in it for a commission!!!
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Posted 11/15/2008 9:13:33 PM
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Sorry Melanie, it would be a waste of time. Why would an agent bring a buyer to a home that is not listed? They are not confident and have no easy recourse in getting paid. 75% of a realtors business is listings, so when they get a call on one of their listings then they work with the buyer. There is a difference between a passive realtor and a aggressive realtor. An aggressive realtor goes out every day looking for buyers for their listings. A passive realtor put a sign in the yard, makes some flyers, and puts the property on the MLS. In today's market price, condition, and aggressive marketing gets homes sold. Most markets in the US are sliding backwards on a monthly basis. Meaning you need to look at your competition and get your home in great condition. Then you need to price the home a head of the market. Most FSBO's are over priced, and when they do make a price reduction it is usually too little too late. I hope this helps.
John Palmisano
Keller Williams Properties
Weston, Fl 33326
754-245-1404
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Posted 11/15/2008 9:22:55 PM
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Linda, unfortunately you have been dealing with some bad realtors who need training. You are dealing with passive realtors not aggressive realtors, who go out and look for buyers for their listings. An aggressive realtor will save net you more money than you can on your own. If I sell your home in 30-60 days versus you selling your home in 9-12 months or not at all. I have put more money in your pocket, than you can on your own by selling your home quicker in a declining market. An aggressive realtor looks at homes and pricing on a daily basis and should be calling you every 10 days for adjustments, and or feedback on showings. Sorry you have had bad experiences with realtors.
John Palmisano
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