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FSBO: Of Course I Want to Get Paid a Commission

By
Real Estate Agent with eXp Realty

For some reason For Sale by Owners view real estate agents as the enemy.  Truth be told, we really want your home to sell.  If you can sell it yourself, that's wonderful.  That sense of accomplishment that you get from getting the job done.  It's an awesome feeling and I know because I've done it many times.  I am curious though as to why you believe you will be saving money? Or what method you use to measure that savings.

I know, you think I just want to get a commission.  And you are right (in part).   I'm not trying to be condescending when I say this, but of course I want to be paid if I successfully sell your home.  Some may be ashamed to say it, but I'm not. 

I admire you.  Really I do.  Who can blame you for trying to save a little money?  As consumers, don't we all want to do that?  But before you attempt to sell your home yourself, consider this:

  1. Are you really prepared for the many hours having to be spent talking with lenders, brokers, inspectors, title companies, appraisers, real estate agents, contractors?  And I'm just getting warm. 
  2. Do you actually have a strategy in place or are you just going to put that sign in the yard, ad in the papery and hope for the best? 
  3. Hopefully in such a poor economy, you still have a job and a boss, that doesn't mind that you spend your days on the phone fielding phone calls all day instead of doing the work that your company is paying you to do.
  4. I hope you won't be in a position where you find yourself dropping everything that you're doing to show your home in hopes that the next person you show your home to will actually be qualified to buy it.
  5. If you're lucky, you won't have to waste a lot of time talking to people who can't buy a penny on credit. 
  6. If you're lucky, you won't spend a great deal of time letting strangers into your home and putting your family at risk because you have no idea who you're letting into your private space.
  7. And this is all just the small stuff.

You see the thing is this; the business of real estate is far more complicated than you would think.  Laws, rules, regulations and such can change on what seems like a daily basis.  Many people think that real estate laws only apply to real estate agents.  WRONG!  Heck, I can hardly keep up with it myself.  In large part, many For Sale by Owners just have no idea what they're in for.  Call me crazy and a glutton for punishment, but I actually enjoy the moment by moment challenges AND frustrations of selling real estate. 

Real estate is how I make my living.  It's how I enjoy making my living.  And to top it all off, I get paid for doing what I absolutely love.  Every single day of the week, I open my eyes to the thrill of being a Realtor.  For me, working at a job that I love can't get much better than this.  The myriad of laws, rules, regulations, continuing education that is required keeps me abreast of how to deal with the challenges that I face on a daily basis.  So please don't view me as the enemy.

After giving the above some thought, if it doesn't work out for you (and I really hope that it does), I'd like to be your ally in selling your home, not your enemy.

Sincerely,
Charita

Geoff ONeill
John L. Scott Medford - Medford, OR

Sometimes they just put the sign in the yard to see which agents will call them.  Go interview and get the job!!! :-)

Feb 01, 2010 01:11 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Charita,

If they can, they should. Because all they do is trying to see if they can bring the buyer, then they go to an attorney and he writes the contract and does the closing.

Nothing worng here.

Attorneys can doo al that. What they do not do is getting you the Buyer. And that's where we compete with FSBOs.

Feb 01, 2010 01:12 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Geoff and Jon you are right on both counts.  Geoff, I'm up for the challenge.  Jon bringing the buyer is sometimes no small feat, but it's what we do.

Feb 01, 2010 01:19 AM
Gerry Michaels
Glasswork Media Arts - Gettysburg, PA
GettysburgGerry Social Meida

Charita, when I approach FSBO's as someone who is trying to help, I always make it known up front that if they run into trouble I would love the listing, because that is how I pay my bills. Most are open to the idea of an agent after "messing" with the sell it your self idea, however there are those that just despise Realtors and they are never gong to change that opinion.

Feb 01, 2010 01:59 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

I had made some attempts at converting FSBO's some time ago, but may have erred in my approach. I'll take your advice and thanks for it.

Feb 01, 2010 02:08 AM
Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

I run into a lot of FSBOs that don't have to sell, and they are willing to wait as long as it takes.  One seller near my home tried for a year and a half as a FSBO until they finally enlisted the help of a Realtor®, who got it sold for them.

Feb 01, 2010 05:00 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

I can believe that Ann.  I guess if they are in no hurry than it doesn't hurt them to try.  This person must have had a boatload of patience or nearly no activity.

Feb 01, 2010 05:49 AM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

There is a reason why 80% of sellers fail trying to sell by going FSBO:)

Feb 03, 2010 09:10 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

You know what Bill?  I'm priming myself to convert those FSBO failures into Realtor success stories.  I'm treading on new ground here so feel free to toss so advice and techniques to capture this niche market. SERIOUSLY.

Feb 03, 2010 10:03 AM