Why do you say nobody will show the property?

Heather:

Realtor.com is operated by Move, Inc., and not by NAR or the MLS... this dates back to long ago, when NAR contracted to Move to handle the site, and Movew has since changed things a bit, and started selling the data, as well as the outlet...

We seem to undo ourselves without even knowing it...

So, how do we make money out of this? That is the question... 

Heather, not to worry.. just stay in touch with the sellers and they will list with you..after they realize the mistake they made with buyowner.com

Hi Mark, if you are willing to work for $100 and to split that with your broker on a $650,000 listing have at it, but I dont think most people would work for that. It's not even going to cover most gas tanks.

 Thank Lori.

Playing devils advocate here. What if you are the buyers agent for someone who saw that house, loved everything about it from what they saw, and wanted to to take them to see the house? Would you say sorry, I won't make any money from that house so I won't take you to see it?

Heather, in my buyers agency contract I do have a provision for a FSBO and how I expect to be compensanted for representing the buyers in the case of a FSBO purchase, or as in this case, to a seller offering less than "X" in compensation.  I would definately show the home if it meets my clients needs, but explain to my clients what the compensation being offered by the seller is and how it could affect them.

that sound??

that sound is the bottom of the barrel being scraped...

Heather - You are 100% right in saying that absolutely no one is going to show that house!!!  The homeowner has done himself a tremendous disservice, and that company should be ashamed to do what they're doing.  I have seen a few of these types of companies that are actually FSBO/Broker hybrids that can generate agent traffic because they are going to get as much as they would have if there was a listing agent on the other side.  I'm not going to promote their names because they are actually fairly competitive and they get a lot of listings in the area.  They charge a flat fee to put the home on MLS with whatever co-broke the homeowner wants to put on.  It's usually as high or higher than the norm, since they're basically on paying one side.  Here's the negative.  The homeowner must do all of the work of a FSBO, show the home, pre-qualify buyers, put a yard sign up, etc.  The homes look like confusing marketing because you can see them on MLS, but when buyers pull up to the sign, it's usually a home depot sign.  The listing broker also is usually from outside of New York as these are online companies that must be using a NY Brokers license to do this listings.  I'll speak to you soon.

The question is not should a buyers agent show their client the home if it fits their needs.  This answer is of course "YES".

MANY - many agents won't show it because they won't make any money from it.

However, others of us, only work with clients with a Buyers Agency Agreement in place.  So I know how much I am making.

This now makes the question "Is this still the best priced home for my clients when they will have to pay x% more so that I am compensated".  The answer:  Probably not.

Yes it's insane that we have to compete with this other discount folks - but there is the old saying "You get what you pay for."  They'll call you when it never sells..

Hi James,

Here in Florida, specifically Central Florida most everyone is a Transactional broker and do not use single agency forms. It's very hard for anyone to get a customer to sign a Buyers Agency Agreement.

Then in Florida - no one will show it!  LOL

Seriously, I don't know Florida customs or laws, but it would seem to me that if a buyer isn't willing to commit to working exclusively with you - then why are you working your tail off for them?

Maybe we need a whole new discussion on Buyer Agency Agreements....

I am all for a new discussion on Buyer Agency Contracts... Let's Start it Up!

It seems to me that Realtors in general have a lack of understanding about such contracts, especially as regards their usfulness to the buyer... but if it is true that there is no such thing as a single side agent, then all will be lost in this respect... I fear that is a bad trend to go in... this ONLY have transaction brokers thing... 

Lets start one up, but I would say 98% of realtors in this area are transactional brokers.

Very few realtors have advanced degrees or offer value other than the MLS.  Someone noted the important things they did as a realtor:  "show the home, pre-qualify buyers, put a yard sign up, etc."  How much effort does this take?  Economics would support compensation equivalent to a high school education to perform these tasks.  The MLS is what drives the realtor's business and as such is going to go through the evolution of technology.  They will have to change their strategy or run the risk of losing business.  Storing data and asking people to pay for it will become increasingly competitive.  I'm suprised the MLS is still so strong.  Its obvious to me now that FSBO is becoming increasingly a nusanice to brokers.  Time to buy FSBO stock.  I can't phathom someone paying $30,000 to sell a house via MLS when you can store the data on the internet for $9.95 a month.

Mr. Newton

While this does not apply to "ALL" FSBO's; it does apply to some!

• FSBO's are not bound by a Code Of Ethics
• FSBO's are not required (nor are they concerned with) being CURRENT on Contract & Real Estate Laws
• FSBO's don't realize they have to provide a signed disclosure form for homes built prior to 1978
• FSBO's hide material facts that could land them in a lawsuit YEARS after the sale because disclosing it may hinder the sale of their property!
• FSBO's do not pay close enough attention to the LEGALITIES of a purchase contract; again - this could land them OR the buyer in court!
• BUYER BEWARE is what many buyers feel about a homeowner trying to sell their own property; these smart buyers KNOW that they need someone to protect their investment!

If you honestly think that what you posted above is ALL that goes into being a Realtor then YOU are sadly mistaken! It goes way beyond a high school education and your comments are just plain "UN-Educated".

Can you hear it? It's me loudly applauding your message. Well written.

Mr Newton

Nice name by the way... there was some sort of physicist with the same name way back, and he understood gravity... 

MLS is a contractual offer of compensation to other agents, and so is far more than a compendium of data. And Realtors, as Jennifer Martin stated, do much more than simply post a sign and enter data into MLS... 

Personally, as an attorney that used to work in securities law, I feel I understand somewhat of the stock market, and I see that most of the FSBO sites make most of their money from selling leads to Realtors, and next from advertising on their sites, largely Realtors again. And from what I understand, most Realtors are stopping or slowing down their purchases of leads from these companies, as is reflected in the profitability of these sites... not that they are going away, but they are trying to change their business models, before they lose their main sources of revenue.

Realtors provide extremely valuable service, at least the professionals that work for me. Advanced degrees or not. Besides, I would really love to hear your explanation as to why you think an advanced degree (I assume you mean Master's Degrees or Doctoral Degrees, etc.) would be an advantage to a Realtor... for example, I have 2 bachelor's degrees, 3 Master's Degrees, and a Juris Doctorate, and I see no advantage for myself over the highly motivated, hard working Realtor's working in my firm who learn their trade and take their job seriously... yes, I can practice law, and they cannot, but beyond that, how would advanced degrees help them? 

Really, your post reflects more of your lack of understanding than it does your grasp of the real estate industry.

On the other hand, Heather and Jennifer show marked comprehension of the industry, thanks for your posts.