The liability to my brokerage when dealing with a FSBO is one reason. I, a licensed professional, don't like working with FBSO's/unrepresented sellers. While I'm the only one licensed and I'm dealing with an unrepresented seller, whose license will be called on the carpet if something gets screwed up in the deal? I might be acting in the best interest of my client and the FSBO screws up, but I don't represent the FSBO and can't disclose to them what the heck they're supposed to do.
I'm also not going to do the FSBO's work for them. If they think "playing Realtor" is fun and will save them money, let them conduct business with me. I'm not their agent and I won't do anything to even hint at "dual agency" undisclosed or disclosed.
But, then . .. on the other hand . . . I love FSBOs because, and trust me on this, a savvy buyers agent can "negotiate" a deal for their clients that will make the FSBO's head spin. Yeah, keep thinking that just because it's a "seller's market" you can wheel and deal. HA HA HA HA HA HA Love the logic on that one. Keep thinking that all an agent does is open the door for the buyer, or plants a "for sale" on the property for the seller. Yeah, that's all real estate is all about . . .
My last deal had the sellers coughing up $20,000 and they were represented by their listing agent. Properties were flying off the shelf in that little market where my clients wanted to buy. Sellers left $20,000 on the table . . . in a "seller's market" AND they were represented. HA HA HA
I used to work for an attorney, prior to becoming a licensee. He bought a house and only AFTER did he realize there were no rain gutters! We live in the Pacific NW and it rains here. The lawyer couldn't even figure that out. He was way too emotional, nervous, anxiety ridden to represent himself. He didn't have a buyers agent, went with the list agent and thought he could broker the deal. He did . . . only thing was, he didn't broker rain gutters into it.
The "selling agent" is the buyer's agent -- the agent who actually SOLD the home to the buyer is the selling agent.
The "listing agent" is the seller's agent -- the agent who actually LISTS the home for the sellers.
If you are in a position to buy your house back if something goes terribly sideways , then perhaps you can sell by owner. I will share with you when I've sold my own property, I hired an agent. In addition to risk management, they should be awesome at emotion management and ego management, because those two things can really get in the way of smooth closing.
Have an amazing day!
good answers below, I advise you use a Broker to guide you through the home sale process and required disclosures/documentation...check out my prices which I am sure you will love
BUYER CASH REBATE 50%-60% / SELLER DISCOUNT 50%
Quality Full Service! Work directly with the Owner/Broker.
Flavio Tejada, Owner/Broker, Realtor, MBA-Finance
Every time I've viewed fsbo's...they are priced too high for the market.
Anyway, best o luck.
We at Help-U-Sell can sell homes for a low set fee. We are full service realtors. You can go to our website for more details if you are still looking to sell.
Help-U-Sell Achievers Realty
Most real estate professionals are going to insist upon potential buyers to be preapproved before they take them out to preview properties. They are not going to open houses for lookey loos, stalkers and aspiring home buglars!
Seriously, there are manyn reasons why you don't want to open up your home to just anyone who happens to see your For Sale by Owner sign. Think carefullyn about your strategy for privacy, liabiltiy and safety before putting the sign on your lawn and posting on Craigslist. At very least, partner with a lender to prescreen anyone who want to view your property.
If you want to be a For Sale by Owner, it could be a lot of fun. Or it could be a long drawn out process with a lot of mistakes and lost opportunity. I won't restate what others have said but you might consider one or two things: Do you know the agents and their brokers who will be submitting offers to you? Will you be able to tell which offer(s) will really be able to close?
Mark Burns, Realtor
Coldwell Banker Elite - Top 2% Worldwide
President - PRDS, Contracts and Forms for Silicon Valley Residential Real Estate 2008-2012
DRE #00896552 Licensed since 1985
Over 600 Homes Sold in Silicon Valley
If you are just thinking about saving the commission, put your home on a few FSBO sites and
voila it is sold, nothing to it, go for it and you will find out.... or may before you proceed with FSBO read all that the other agents have to say to convince you otherwise.
But I have only one question for you... what makes you say it seems now is a seller;s market?????? How did you determine this, how did you find out, who provided you with all the information?
Do you know exactly how many homes are on the market and how many buyers are looking, and I mean ready and willing and approved buyers who will actually and seriously buy a home.....If there are more homes on the market than ready and willing buyers, we are not in a sellers market we are in a buyers market, i.e. the buyers have a lot of homes to select from, so they can cherry pick
and buy when their price is accepted or negotiate it until they find the home at the right price for them.
If homes come on the market and are under contract within 2 weeks that may be a Sellers market...
So because you are saying it seems....... I am almost convinced that you do not have all the numbers. and still you would be well advised to work with an experienced Realtor to make the entire process from start to finish so much easier for you. If you need any recommendations get back to us and we would gladly provide you with some good recommendations.
All the BEST
@Properties North Shore, 30 Green Bay Rd. Winnetka Il. 60093
Edith always works in the very BEST interest of her clients Buyers, Sellers and Investors alike,
covering the city of Chicago, all N and NW suburbs and the fine homes of the North Shore.
Edith always goes the x-tra Mile with a Smile for all her clients.
Feel Free to visit my website
Have a wonderful Day :)
If you can do all of the following, then "for sale by owner" is fit for you. If not, give me call (408-316-0793):
1. Needs Analysis
a Help clarify the motivating reasons to sell
b Determine the sellerâ€™s timetable
2. Pricing Strategy
a. Determine the best selling price strategy given current market conditions
b. Show resulting net sheet
3. Property preparation
a. Advise on repairs and improvements
b. Provide staging strategies
4. Marketing strategy
a. Develop marketing plan
b. Establish marketing timetable
5. Receive an offer
a. Evaluate offers
6. Negotiating to sell
b. Negotiate counteroffers
c. Advise on final terms and conditions
a. Prepare post contract work list
b. Advise on repairs and vendor services
8. Pre-close preparation
a. Coordinate and supervise document preparation
b. Provide pre-closing consulting
a. Review closing documents
b. Resolve last minute items
c. Complete transaction
10. Post closing
a. Coordinate move
b. Assist with post closing issues
There are a certain percentage of sales every year that are completed without the services of an agent. If you feel like you can handle the listing and sale of your property and the effort and time it will take, then go for it.
But, if after a month you are not getting the showings you expected or the offers you think your property is worth, please consult with a knowledgeable, local agent.
In terms of the value of a real estate professional - most of the buyers are being represented by the agents. My work on your house would be to sell it to the agent community, make them bring their clients to your house. And I can do that. Second - I will negotiate on your behalf. Everything from the price to terms of sale. Third - I will keep the transaction on time and rolling. If it is necessary, the buyer may have to be encouraged to perform.
The rest is obvious to most - MLS, syndication to multiple web sites, help preparing your house on time and on budget, satisfying all legal requirements for the sale, etc., etc., etc.
For you as a buyer - we are free free free so why wouldn't you use us to haul you around in our cars burning our gas showing you homes you might never find wondering aimlessly on your own?