The subject of a recent blog post of mine was about the trials and tribulations of "creative" for sale by owner signs. The Tip of The Florida FSBO Iceberg was a featured post with about 30 comments and interjects regarding a series of signs that I photographed and published. Apparently, a non-REALTOR blog reader took exception, which is fine, and felt we (who commented) were unprofessional. The fact of the matter is, the exterior of the home, it's neglected landscape and it's expired Christmas decorations were the primary issues. Adding to the unprofessional look was the fact that the home is overpriced, had been reduced twice as indicted in Sharpie Market on the FSBO sign and if it did sell, it is likely that it wouldn't appraise.
A couple questions I ask anyone that is selling a for sale by owner or buying a for sale by owner is:
Just Because Someone's Holding A Hose Does That Make Them A Firefighter?
Does stabbing a for sale sign in the front yard make anyone a real estate agent?
Although I am not insinuating that a FSBO homeowner is trying to be a real estate agent, they are trying to assume all of the duties of a real estate agent. Sometimes it's ONLY the duties that they THINK they know about. The fact of the matter is, "WE" the proven professionals in our areas have devoted ourselves to the profession, dedicated ourselves to our customers and clients and continued to educate ourselves through continuing education, certification and accreditation/designation classes, as well as, learn by doing - we're in the trenches every day. We wake up thinking about our customers, listings, sales and closing. We go to bed thinking about them too.
The average listing agent will perform nearly 200 actions in the process of listing, selling and closing real estate. Quite simply put, the neglect or oversite of some of these actions are serious concern for anyone buying or selling a for sale by owner home. Just because a customer doesn't see the battle doesn't mean the REALTORS® don't earn their battle scars.
- Researching the listing price and making sure the home will be priced to both sell and appraise.
**An overpriced FSBO, if it sells, it won't appraise. No appraisal = no mortage = dead deal = time and money wasted.
- Properly instuct the seller on how to best present the home to potential buyers by cleaning, repairing, organizing, staging, etc. to get the best results to compete with the other homes on the market.
**This sounds like a no-brainer, but it's almost like "cannot see the forest for the trees". They're missing the big picture. We, as real estate professionals see that picture every day and we know what will cut it and what won't.
- Getting the proper disclosures filled out, initialled by all parties.
**That contract written on a cocktail napkin sort of didn't have a seller's disclosure - disclosing defects (that 2004 roof leak) or material defects that could have a berring on the value of the home in the future (like a highway expansion). Not to mention there might not have been a homeowner association disclosure (required by law in Florida) and the buyer can walk 58 days into escrow, no questions asked.
**That deal the buyer got online at Loaning Bush somehow just didn't pan out.
In closing I would like to add that I have shown for sale by owner listings to my own buyer-customers. I never exclude them. I have also shopped for a new home (my own home) and included FSBO listings. The difference is, I had a real estate agent that was an expert in that geographic area represent me. My interests were protected. I was out of my element an I needed an expert.
FSBO's will always be around and I will continue to use FSBO listings as my tool. Unfortunately for the sellers of those unprepared FSBO's, I will use them as a tool to sell my own listings and so will the rest of the real estate industry.
;)
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