Has anyone else had this issue, or is it unique to me?

I've had several buyers who are interested in homes that are in the MLS with the "Exclusive Right Non-Representation" type listing, where the listing agent simply lists the property in MLS for a flat fee (I'm assuming that), and all showings/offers/counters/etc are direct communications with the seller.

Invariably, the sellers have an overvalued opinion of the value their home, and are not interested in really negotiating or even presenting a counter offer to a less-than-full-price offer, and my buyers have gotten to the point where they do not want to even LOOK at these listings, due to past history.

I'm a professional attempting to talk to Mr. & Mrs. Homeowner about the contract nuances, and they don't want to hear anything other than "I"ve got a full price, cash offer, and my buyer can close in 30 days". (Ok, that's a wee bit facetious, I admit).

Has anyone out there had good success/good experience in negotiating a deal with this type of listing? If the property is truly a good fit for my buyer, I don't want them to discount it out of hand based on the listing type, so any suggestions are welcome.

Carol Zingone is a full service Broker Associate proudly affiliated with Prudential Network Realty in Atlantic Beach, FL.  I help buyers and sellers locally, regionally, and internationally.  With hundreds of happy buyers and sellers over the course of my career, I'm thrilled to help first time buyers, military buyers, seniors, investors, 1031 exchange properties, short sales and REO's.  I have spent hours honing my expertise, including the designations of Certified Distressed Property Expert (CDPE), Graduate Realtor Institute (GRI), Loss Mitigation Certification (LMC) , Short Sales, Foreclosures, REO's, (SFR), and Senior Real Estate Specialist (SRES).  I am currently serving as the President of the Northeast Florida Association of Realtors for 2013, I pride myself on providing excellent expertise to all buyers and sellers. Search the MLS via www.carolzingone.com  for Jacksonville and area listings! To search from your phone or other mobile device  use: http://87778.mobi/9048Z.

 

 

 

7 Comments on Exclusive Right Non-Representation - What The Heck?

DEC
10
2007
 Limited service listings...or the FSBO listed in the MLS.  They can be tough to deal with for numerous reasons. We should not overlook anything, I try and know the FSBO's in an area a may be showing homes in, simply because the buyers will ask.  If your buyer's want to avoid such listings, there is not much you can do.  You can advise the buyer it may be a perfect fit, but ultimately it is their decision.
12:28pm • #1
474,979 Points 15 Featured Posts Outside Blog Called Shot Master

I had a friend who listed her home FSBO.  She offered a commission to the buyer agent, but felt that she had more room to negotiate with buyers by doing the marketing work herself.  She was a communications professional, and did a great job with the marketing.  She got a couple very low offers which she countered, then ended up selling at 95% of asking price after some negotation.  By the way, she came up with her asking price by looking at all the neighborhood comps...  But her case may be unusual!

Do you think some of the FSBO sellers you have worked with may not even know they have the ability to counteroffer?
12:44pm • #2
Carol, limited service listings are here to stay but if the Seller is truly motivated they'll list with a full service broker.
12:48pm • #3
563,394 Points 17 Featured Posts Called Shot Master

Joe: I agree, I just wanted to see if there was something working better for someone else out there.

Penny: Great for your friend! I think FSBO tactics work best for solid communications people, not as well for people who do not have the background.  And you may be right, they may not know they can counter offer, although I always encourage them to do so.

Larry: I think you hit the nail on the head - possibly these aren't truly motivated sellers. Thanks!
12:55pm • #4
237,391 Points 5 Featured Posts Called Shot Master
If this really is a good fit for your buyers, you need to put on your negotiating hat and keep at these sellers. These sales are hard to make. Condition your buyers on what to expect. Persistence may pay off. Bring your buyers to them. Put a human element in the transaction. They see you as an adversary. Present your buyers as the most warm and friendly people in the city who appreciate what you have done with the home. After their home sits for a while, they may be more receptive to you.
1:07pm • #5
DEC
28
2007
186,425 Points 1 Featured Post Outside Blog
I have sold one house in that situation. The seller was a great lady who was very cooperative. I enjoyed working with her and the transaction went smoothly. Of course that could be the exception and not the norm. It's been a couple weeks since you posted this, but how is it going with those buyers?
1:03pm • #6
DEC
29
2007
563,394 Points 17 Featured Posts Called Shot Master

Portland: I agree.  I am actually working with a FSBO right now for my buyer, and we just did the inspections - turned up a bit more than we  thought, so I'll be getting estimates.

Pam: This buyer & I just wrote an offer on a FSBO, we just did inspections, and this has so far been a positive situation.  I'm hoping that with market inventory so high, the sellers may be more realistic these days.

3:49pm • #7


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Czingone_05_2_1_high_res_large_ Rainmaker_large

Carol Zingone, Beaches Expert, Northeast FL

Jacksonville Beach, FL

More about me…

Prudential Network Realty

Address: 375 Atlantic Blvd., Atlantic Beach, FL, 32233

Office Phone: (904) 241-2417

Cell Phone: (904) 993-9048

Email Me

Helping Buyers & Sellers in: Jacksonville Beach, Atlantic Beach, Neptune Beach, Ponte Vedra Beach, Ponte Vedra, Intracoastal West, Jacksonville, Southside, San Marco, San Jose, Mandarin, Arlington, Regency, Downtown, as a Broker Associate with 100% customer satisfaction rating.

Real Estate blogs
Follow carolzingone on Twitter



Listings

Links

Archives

RSS 2.0 Feed for this blog