here's the thing many people who are not in the real estate business aren't understanding:
When I list a home for sale, here's what happens:
Not only do I put it on Heartland MLS (our professional Multiple Listing Service in Kansas City),
-announce it at our weekly sales meeting which alerts all 130 agents in my office to the new listing
-send out a listiing alert to all agents with buyers looking for a home like that in the area
-send out a listing alert to all buyers registered in our database
(we have ~2500 agents in our company so this is huge)
-send out emails to all other brokerages in the area notifying them of the new listing (~10,000 agents)
-put it on agent tour (last Tuesday there were ~200 homes on tour south of the river) All agents from all companies with buyers looking for homes like the one I'm showing will try to see as many as they can in 4 hours and then report back to their buyers).
We will probably have to see other homes beyond the tour (called Previewing) to make sure we have complete information on the comparables.
While on Tour, we talk to each other about what's on, what's coming on, and "I have a buyer looking for..." or "Do you know anyone looking for a great 3bedroom bungalow in Brookside?".
The other thing a realtor does is help you present the home to it's best advantage.
In our area, the top 10% of homes are selling in about 30 days.
These are the best of the best.
We see a lot of houses so when the really good ones come along, we get on the phone to our buyers and tell them about the best houses.
FSBO houses are not on our tour. Not on our emails. Not in MLS. Rarely do the owners have the correct paperwork started.
In KC, we have over 20,000 homes for sale on MLS, finding FSBO listings is time consuming and cumbersome to show as they are also not set up on Centralized Showing. With all the homes available, there is no reason for a buyer to go through the extra headaches of dealing with amateur listings who will not have the paperwork in order.
And when it comes to Inspections and negotiating after inspections, again inspections are difficult to arrange because the home isn't set up for safe, easy access.
The owners do not have a thorough knowledge of real estate contracts so are often remiss in meeting deadlines and submitting the correct documents.
Here's another tip for getting more agents to show your home: although there is no standard commission rate, suppose that many of the homes in your neighborhood are listed with 6 or 7% commisssion, if yours is at 8%, agents will definitely want to show your home to any buyer who is looking in the area. It's simple arithmetic; 4% is greater than 3.5& or 3%; 4% puts more food on the table.
After our broker takes his cut, we agents pay ~30% to Uncle Sam for taxes; ~30% for advertising budget; ~20% for licensing and other professional maintenance fees; leaving ~20% of each commission for food, shelter, health insurance, car payment, etc.
1% is not much more to the seller but it will definitely attract an agent's attention.
Only 10% of real estate transactions without realtor involvement make it through to a successful closing.
Sellers net an average 15% more on houses sold by realtors.
Houses sold by realtors sell faster than those sold by homeowners (don't recall the %)