I was told by a long time realtor/neighbor that a lot of agents won't bother with internet listed homes because they have to do all the work,

Asked by Joe Margherio, Moro, IL Sat Oct 9, 2010

true? They have to do all the paper work for both sides.

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Suzanne MacD…, Agent, Morristown, NJ
Sat Oct 9, 2010
I am not sure, but I think you are talking about "For Sale By Owner' listings on the internet. And it can make a realtor's job more difficult. We have fiduciary duties to our clients. When we bring a buyer to a For Sale By Owner we only represent the buyer, not the seller. Again, I am not sure how you do things in Illinois, here in New Jersey we often use attorneys for real estate closings so that makes it easier here as the seller will be paying his attorney to do the things might otherwise be done by their realtor

I do bring buyers to For Sale By Owners who are cooperating with realtors and offering a commission. However, I would ask you to consider this, when I list a property for sale I market it not only to the public through internet sites like Trulia, but I also market it to the 17,000 realtor members of my Multiple Listing System. That means you don't just have ME looking for a buyer for your home, you have all 17,000 realtors working on your behalf. Just something to think about.
3 votes
Ron Rovtar, Agent, Boulder, CO
Sun Oct 10, 2010
Hi Joe:

Are you talking about listing a home on the local MLS through an inexpensive internet listing service. If so, I think the answer varies. Some agents will show your property without hesitation. Others will probably try to avoid it because they feel they will have to do the work of two agents for the commission of a buyers' agent.

If this is the case, you might improve the buyers' commission a bit or make it clear that an attorney will be looking after your interests.

Best,

Ron
1 vote
Suzanne Hami…, Agent, Orland Park, IL
Sun Oct 10, 2010
Joe -

I think maybe your realtor neighbor may have meant that agents won't bother with for sale by owner homes on the internet - sometimes this is true - but mainly because many for sale by owners don't want to deal with realtors and don't want to pay commissions, even though this is the best way to buy or sell. They are really missing out if they don't want to work with even a buyer's agent..

Also - just so you know, in order for one agent to do both sides of the transaction, they must be a dual agent, so the seller must also employ them. If the agent is only the buyer agent, they can only represent the buyer - not the seller. Most agents love to get both sides of the transaction.
1 vote
Jim McCowan, Agent, Arlington, VA
Sun Oct 10, 2010
Sounds like your long-time realtor/neighbor needs to jump into the 21st century. If one of my buyers finds a home on the internet, it's my job to look into it for them. If it IS a FSBO then I may have to do a little educating as far as the seller is concerned, but that's life!
Web Reference:  http://www.jimmccowna.com
1 vote
Marge Haworth, Agent, wood River, IL
Sat Oct 9, 2010
Hi Joe,
I don't think Realtors are afraid of working hard- or they would'nt be Realtors for long! I know I would do what it takes to get it to close. I think that perhaps its not the work to sell home listed with minumin service agency its the lack of preparation that comes along with that territory. I have sold FSBO with few issues but have had some issues of legal procuring cause with minumin service agency. I can only speak on my own experience. Real estate is very regional. Not sure how an agent who has never been in your house or even town could guide you as to price or advertising advantages. Bottom line is that your agent causes your house to sell through several avenues of exposue and networking 90% of the time. The real question to ask is do you have an agent who is working for you or for themselves?
1 vote
Jerry Grodes…, Agent, LOda, IL
Sun Oct 10, 2010
Joe,
Many buyers are shopping themselves on the internet and hence work with the listing agent when they find a listing that they want to see. Though many agents claim to have websites... it is next to impossible to find them by the average consumer. If you are not seen, than you can't be sold. If you want to see stats that back this up, let me know.
0 votes
Frank Dolski, Agent, Lahaska, PA
Sun Oct 10, 2010
Joe,
This is where 80-90% of buyers first look. It is better to use a Realtor to list your home but if you list is by owner, Realtors/buyers will lool if there is a commision to be paid. But, you must have an attorney or another Realtor to be at a minimum a Transactional Licencee.

Good Luck!
0 votes
Mack McCoy, Agent, Seattle, WA
Sat Oct 9, 2010
You should ask them again. You may have misunderstood.
0 votes
Keith Sorem, Agent, Glendale, CA
Sat Oct 9, 2010
Joe,
It all comes down to time and money.

When a home is sold in the MLS, 90% of the time the buyer is brought by a Realtor.

If I were you I'd be much more concerned about getting your home sold and trying to save a few points of commission.

Look at the link below. Your market is declining at a rate of 4.7% per year. That means that every 2.6 months on the market your home loses 1 point in value, or according to the average sale price, $296,000. that is $2,960.

I would focus more on selling that property asap than worrying about the commission (unless you are buying the same area...then that means the whole place is losing value and it may not matter to you).

The other way to look at this is if your goal is to save the listing agent commission (4% or $2,960x 4 - or whatever the rate is), my guess is that you'll lose that in value if you try this on your own.

Good luck.
0 votes
Kevin Olson,…, Agent, Colorado Springs, CO
Sat Oct 9, 2010
It is true to an extent. If there is more work entailed in a sale, many agents will frown and/or complain. That's okay, there are plenty of us who will take on anything, big or small.

Here's the thing Joe: Most paperwork requires a buyer and seller signature anyways, so how much harder is it really? It's not.

When you list a home, marketing it and finding a buyer can be hard... the paperwork is the easiest part.
0 votes
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