Home Selling in Cambridge>Question Details

Patty, Home Seller in Cambridge, MA

We are a For Sale By Owner in Cambridge, MA and offer 2.5% to buyer's agent but realtors avoid FSBO?

Asked by Patty, Cambridge, MA Wed Jun 3, 2009

We are a For Sale By Owner in Cambridge, MA (near Central Sq)? We offer 2.5% to buyer's agent and as seller do know what we are doing (we have sold and bought before). We have met with a lot of distrust and (I am sorry to say) hostility from agents. We are listed on MLS (flat fee listing) but find that very few agents bring their clients over. Most advise us to list with a broker b/c they do not want to deal with FSBO. We would rather not hire an agent and instead are willing to sell for a lower price but it almost feels like we have to in order to get agents to show our home ???? The ones that do show (usually b/c their clients ask for it), seem to be quite negative. We had our home appraised and compared to other properties in the area and our listing price is competitive. It feels like a mafia against us.

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Claire Bett’s answer
I'm sorry you feel Realtors have behaved like the Mafia.There is no benefit to Buyers agents not to show your home as it could be exactly what their clients are looking for and thus a sale. However, when you know your market then you can quickly spot an unrealistic FSBO. I can only speak for myself when I tell you that I have had many difficult scenarios dealing directly with homeowners. My experience is that most FSBO homes are driven by saving money and yet have little understanding of what the process involves. Thus, Buyers Realtors bring their clients to owners that have insufficient knowledge of the disclosure laws, are reluctant to use a Real Estate attorney ( as opposed to "a friend of my mother that does Wills and Trusts") and the Realtor ends up a managing the entire transaction rather than her clients side for half the fee.In addition there has been no neutral voice for the owners to hear regarding the merits and otherwise of their house so often pricing is not only not competetive but higher than it should be as very little is seen as a minus. After all, they chose it so it must be good ,right? Add to that poor photos and so limited appeal online. I'm sorry I sound jaded but it is based on experience. . If you haven't had showings look to the price.Its always down to money.
2 votes Thank Flag Link Wed Jun 3, 2009
I was just ajokin Mr.Rockinblu but appreciate the compliment Patty and wish you the best of luck in the Selling of your property.
Offer em a deal they can't...... Wait maybe that's not appropriate considering ; )

Gonna start blogging, Dunes
1 vote Thank Flag Link Thu Jun 4, 2009
Btw, we did increase the buyer's agent fee to 3.5% (maybe that will help?), let's see what happens.
1 vote Thank Flag Link Thu Jun 4, 2009
Actually, I did have a hard time deciding on the best answer - yes, it was between Dunes and rockinblu. I wish I had a chance to split the vote. I decided to reward the blogger.
1 vote Thank Flag Link Thu Jun 4, 2009
I think I would have gotten it (My answer was longer!) but I just had to toss out the Hardhead comment.

Foiled again!
1 vote Thank Flag Link Wed Jun 3, 2009
Patty- Dunes allready mentioned that Brendan from Burlingame Ca recently informed the Trulia World..."While it is not "necessary" it is in your best interest to give the buyer's agent 3%. It gives the agent the incentive to show your home. "
PLUS..."Many people look though MLS email updates. Some agents secretly filter their searches so that the automated service won't send their clients listings unless they are 3% listings."

It's a cold, cruel world out there...Be creative...be positive...stay the course

Rockinblu has some great info in his blog.
NY RE Expert Barbara Corcoran suggests that you rent a billboard.
We offer a less ostentatious approach on our site.
Hint: Price your home aggressively then...Think twice before you lower your price.
Web Reference: http://www.321advantage.com
1 vote Thank Flag Link Wed Jun 3, 2009
Rockinblu is a good voice and his blog is excellent. But he is a Hardhead! LOL
1 vote Thank Flag Link Wed Jun 3, 2009
Patty, I'm afraid you are a victim of this .... http://www.realtor.org/toolkits/fsbo00

because they want to tell you this .... http://www.realtor.org/toolkits/fsbo03

You might be interested in this quote from an agent ... " Many people look though MLS email updates. Some agents secretly filter their searches so that the automated service won't send their clients listings unless they are 3% listings. " in this discussion ... http://www.trulia.com/voices/Home_Selling/My_broker_wants_to…

Some agents learned from this.... http://www.realtor.org/prodser.nsf/products/141-319?OpenDocument

The mafia you might take seriously, people with an RE license who feel that piece of paper automatically makes them a Professional ya just have to LOL.

The sale of your property is your business and how you decide to do it is your decision. Do whatever YOU think is best for YOU.
A dumb Non-Pro, Dunes
1 vote Thank Flag Link Wed Jun 3, 2009
Claire makes an excellent point. Agents are afraid of dealing with FSBO because of the homeowner's lack of knowledge/disclosures and the buying agent ends up doing most of the work because the homeowner doesn't know what they have to do. It's more of a fear of a deal falling apart due due to procedural problems and anything else. To help alleviate buyer agent's concerns, you should fill out a seller's disclosure declaration and also hire a real estate attorney to help with the processes, procedures, and contracts. You must also assure the agent that you will be available to handle all the tasks associated with selling a home(meeting with inspectors, fire department, 6D, water dept(if single house), title V(if Single house), appraisers, etc). Increasing the commission is also a good idea but keep in mind that you are paying someone to negotiate against you. I can email you a seller's disclosure declaration if you need one. Good luck!
Web Reference: http://www.paulshao.com
0 votes Thank Flag Link Sat Jun 20, 2009
Hi Patty, I truly feel bad for you....

I am a very active buyers agent, i.e. I work with a lot of buyers and if my buyers are searching in a particular area and we see a for sale by owner, I always always show it to my clients, it is my job to show it to them, as long as the seller is willing and signs and agreement to pay me a commission, and you are doing that....

You may have to offer a higher commission, or a bonus to buyer and or buyer's agent if you like your property to be under contract at a specific date.... Just a thought...
Good luck to you...
Edith edithsellshomes@gmail.com
0 votes Thank Flag Link Wed Jun 3, 2009
Sadly welcome to world of traditional brokerage!! I am so sorry you are experiencing such push back and ignorance from listing agents (who also represent home buyers).
If you want to talk about this in a more personal and open detail - so that we don't "offend" anyone - feel free to contact us below and we can give you some good advice (and DONT WORRY unlike most responses you might get here we wont be trying to win your business since we are an exclusive buyer brokerage :) )

0 votes Thank Flag Link Wed Jun 3, 2009
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