User42128_17_t Jo Soss | Bremerton WA Real Estate
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Would you reverse the FSBO?

Ok here is the scenario - the plot if you will.

 House #1 is on the Market with XWY Realty.  House #1 is plastered all over the internet, on web sites, Zillow, Trulia, MLS, Point2Homes, the list goes on and on. So from my perspective they want to sell this house. Right?

 

 

 House #2 is on the Market as a FSBO. House #2 is plastered all over the internet, on web sites, Zillow, ForSalebyOwner, and even some MLS's the list goes on and on. So from my perspective they want to sell this house.  Right?

 

 

House #1 has an agent, House #2 does not. In the area of House #2 there are hundreds of agents who have asked the seller the infamous question..."If I had a buyer for your home would you pay a Buyer's agent commission?" I think this is a pretty simple question, not offending and easy to answer if you are a FSBO because you want to sell the home, right?  YES.

House #1 is listed with an agent. Potential Buyer calls up and has a full price offer available for the Seller and now asks the question in reverse, "If I made a full price offer without an agent will you cut the Buyer's agents commission off the price of the home or offer it towards closing costs?"  Pretty simple question, not offending and............. (You fill in the blanks), would your answer be "YES", because you want to sell the home?

What say you?

My thoughts are we are seeing a lot of really educated buyers and with all of the information we have given them and all of the web sites and educational seminars we could be seeing this in some markets. In markets where the days on market are doubling and tripling this scenario might not be very fictional in times to come.  Would you "negotiate" with this buyer or would you just laugh in their face?  Would you tell them that you had already negotiated your commission with the seller and you are not willing to give any of it away? 

I have seen an agent basically laugh in the face of a buyer in this instance. I have seen an agent choose another offer over a full priced, fully approved buyer because they asked this question. The offer they decided to accept with a buyer being represnted fell thur 2 weeks later. Did they call the "fsbo" buyer up? Nope. House did finally sell. Just what I have seen.

 

 

4 Comments on FSBO in Reverse ~ The Very Educated Buyer

I am sorry Jo...I don't understand this scenario...I think it has to do with cutting of a commission because the buyer came without an agent...if that's the case I would still want the listing fee and I would have another agent in my office writeand present the offer...and they would like to be paid too.

11/30/2007 04:31 PM by James Lowenstern, Newton Real Estate Newton MA Real Estate (WEICHERT Realtors Castles Unlimited)


James, it does have to do with cutting of a commission because there is only one agent. The buyer doesn't want to be represented. In the same instance we sell FSBO's for a "buyer's" agent commission. The seller as a FSBO is not represented and the agent bringing the offer wants to be. It is a little confusing. I guess I might have said the buyer is not looking for an agent - they have already written an offer to present without having an agent. It is pretty easy to get your hands on a P&S. Does that clear it up a bit?

11/30/2007 04:37 PM by Jo Soss | Bremerton WA Real Estate (Skyline Properties, Inc.)


I always offer my sellers a reduced commission if we sell their property in house (legal in Florida) so there isn't as much to negotiate with as this buyer might think.

If I was the listing broker I would invite the buyer  make an offer of 3% less  than the listing price and I would present it.  (Im assuming a 3% co-broke)  If the seller accepts the offer than the buyer gets what he wants and I get paid.

 

11/30/2007 04:55 PM by Ron Parise (LocateHomes.com)


Ron, that is what I have always done. I was just surprised to hear an agent wouldn't even entertain the thought.

11/30/2007 04:58 PM by Jo Soss | Bremerton WA Real Estate (Skyline Properties, Inc.)


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Real Estate Agent: Jo Soss |  Bremerton WA Real Estate (Skyline Properties, Inc.)
Jo Soss | Bremerton WA Real Estate
Bremerton, WA
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Skyline Properties, Inc.

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