Home Selling in New York>Question Details

H4rdw4remtt, Home Seller in New York, NY

If I have already instructed a Realtor can I list my property for sale on an FSBO property web site? And what are the implications?

Asked by H4rdw4remtt, New York, NY Thu May 5, 2011

Help the community by answering this question:



If you hired a a professional real estate broker to list your property why would you want to list it for sale on an amateur website? If you hire a professional moving company you don't need to rent your own van. If you hire a lawyer you don't write the contract or hold the deposit in your own escrow account.

The implications are if you signed with a broker the broker gets paid. A good broker knows how to market a property and where to advertise. Bottom fishers, low ballers, Looky Lous and unqualified buyers are who you will attract on a FSBO website. All media are not equal. There is a reason why advertising in NY Times is expensive and why FSBO sites are free. You get what you pay for including paying a professional real estate broker.

Mitchell Hall, Associate Broker
The Corcoran Group
Web Reference: http://nycblogestate.com
2 votes Thank Flag Link Thu May 5, 2011
Mitchell Hall, Real Estate Pro in New York, NY
Pull out your copy of your listing agreement. Here in New York, it is extremely likely that it clearly states you owe a full commission to the brokerage firm no matter who advertises or shows the property.

If that's what the listing agreement says, and you signed it, then you can show it all you like, and find your own buyer, but you still have that contractual obligation to pay the broker the full commission. You won't save any money by doing it yourself.

A listing agreement is an employment contract. You employed that brokerage firm to sell your property for you. It's a contract like any other.

If you don't have a signed, exclusive listing agreement with any firm, then you have an "open" listing. This means you have some ads floating around, but you don't have a broker who is seriously working to sell your apartment. If you want to sell for the best price as soon as possible, an exclusive listing is by far the best way to go.

Karla Harby VP
Charles Rutenberg Realty
1 vote Thank Flag Link Mon May 9, 2011
If depends on the contract. At PROPERTY BY OWNER, Inc., 29 years in business in Boise, Idaho, we offer services to help people sell by owner (no commissions). In addition, as agents of Hess Real Estate Services, we offer a HYBRID contract that allows the seller to sell either way. It's to the sellers advantage to sell by owner for less expense. To learn more, call us at (208)322-1100 or email rudy@propertybyowner.com, or check out our website: http://www.propertybyowner.com
1 vote Thank Flag Link Thu May 5, 2011
Once you and your Realtor have signed a listing agreement, who ever buys the home/condo, your Realtor will be due his/her commission...unless another arraignment was agreed upon prior to listing. They would have taken the time and energy to market your home in ways only a realtor can do effectively....so rightfully so, they should be compensated. And really, if you have confidence in the person you hired to sell your home, why would you be entering into a FSBO site anyway?
If your interested in going it alone (which I do not recommend) visit
http://www.bostonresidentialre.com/real-estate-tips-2 for some helpful tips on selling. Best of Luck!
1 vote Thank Flag Link Thu May 5, 2011
Yes, you have the right to market your apartment as much as you want, and yes you will be obligated to pay a brokerage fee. Having said that, you can also work out an agreement with your broker to pay a lower fee if you find a buyer on your own
1 vote Thank Flag Link Thu May 5, 2011
If you are listed with an agent, discuss your FSBO advertising with your agent; if you need to sell quickly, consider focusing on your price, rather than advertising on your own in addition to your agent's marketing efforts. Keep in mind that your house is your home; emotions are homebound---selling your house is a business transaction. In a business, a professional is able to best to protect your interests.
1 vote Thank Flag Link Thu May 5, 2011
Your question is a little vague. It is not clear if you have listed your property or not, but if you are asking if you can list your property on a FSBO website while you have a signed listing agreement with an agent, the answer is that you can advertise it, but you cannot cut your agent out. If you have a signed listing agreement, you have authorized that agent and their company to to give you their full marketing plan and for that agent to dedicate time and effort to the sale of your home. If you are thinking that listing it simultaneously on a FSBO website somehow lets you out of that agreement if your buyer comes from that FSBO website (which is a very, very slim likelihoood), that is not the case. The commission will be due regardless.

Hope this helps.

Jenet Levy
Halstead Property, LLC
212 381-4268
http://jenetlevy.halstead.com for all NYC listngs
1 vote Thank Flag Link Thu May 5, 2011
You can list your property wherever you like......as long as (a) the website owner does not mind and (b) you pay your Realtor the agreed upon commission at the closing.
Web Reference: http://www.321property.com
1 vote Thank Flag Link Thu May 5, 2011
If you already signed an exclusive listing agreement and then try and sell it yourself, you would be liable for paying them a commission based on your sale. Review your contracts and see what you have agreed to by signing and what you havent. good luck with your sale
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Thu May 5, 2011

This may depend on what you mean by "instructed a Realtor" and what the terms of your listing agreement are. Consider reviewing this important document.
0 votes Thank Flag Link Wed Mar 20, 2013
Howl long is the term for thee exclusive right ( 3months ,6months etc?
0 votes Thank Flag Link Wed Mar 20, 2013
I love the way the folks on here are trying to sell their service more then just give good advice.........In New York you have three types of listing Open, Exclusive Agency and Exclusive right to sell.....your agent is supposed to advise you on all three types at the time of the listing then you can make an educated decision as to which one is best for you... 1. Open listing..any broker that is sells it is entitled to a commission if you have agreed to pay one. You can sell it on your own you owe no commission at all 2.“exclusive agency” listing means that if you, the owner of the property find a buyer, you will not have to pay a commission to the broker. However, if another broker finds a buyer, you will owe a commission to both the selling broker and your present one..Which mean you OWE two Commissions..double what you would have paid 3. “exclusive right to sell” listing means that if you, the owner of the property, find a buyer for your house, or if another broker finds a buyer, you must pay the agreed commission to the present broker.....but to answer your question.. Yes you can list it and market any way you like just know what type of listing agreement your in...
0 votes Thank Flag Link Tue May 10, 2011
It depends upon the contract you have already signed. So long as you modify the contract and have all parties sign it, it should be fine.
0 votes Thank Flag Link Mon May 9, 2011
Hi H4rdw4remtt,

Your question was duplicated on our site. You can thus find additional answers to your inquiry at the link below.

Best Wishes,

Emily Erekuff
Community Moderator
0 votes Thank Flag Link Thu May 5, 2011
Not sure what you mean by you "have already instructed a Realtor"... does that mean you have already talked to your listing agent about it? If not, then you definitely should, if you have one.
0 votes Thank Flag Link Thu May 5, 2011
Just liability. How much can you afford to loose? Trying to do things on you own without the best informed decision can cost you lots of money.
0 votes Thank Flag Link Thu May 5, 2011
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