FSBO - Do You Compensate An Agent That Brings You A Buyer?
Determine your goal
Know the goal you want to achieve when selling your property. If the answer is to 
maximize profit of the sale, you need to ask yourself a question. At the end of the day, what is the most cost effective? The answer may surprise you.
Money today is better than money tomorrow
If you need ot sell you property, you carrying costs increase the longer it is on the market. Here are some reality you need to consider:
- Your share of the annual property tax goes up each month you own the property. Your share of the property tax goes up 8% every month.
- Your share of the annual insurance goes up.Unforeseen repairs that come up will be your responsibility and will not add to the sales price.
- If you have already purchased another property, your double payments will eat into what you think you will save in commission.
- If your offer on another property is contingent on the sale of the existing one, you may lose out. Sellers can take a contract without that contingency.
Selling the property yourself can consume a lot of your time
- You will answer phone calls at all hours.
- You will have no show appointments.
- You will show to people who cannot afford to buy. I have my buyers pre-qualify so as not to waste peoples time.
Solution to maximizing profit
When an agent calls with a buyer, take the call and make the appointment. The odds of the deal going through are much higher. Both you and the agent have the svame goal. You both want the property to sell. You will have someone who can answer the buyers questions in a non-threatening way. Selling your property with an agent will save you money in the long run.
So, it's time to sell your current home.
And you have decided to "go it alone".
There are many tasks that you as an unrepresented Seller will be undertaking - perhaps for the first - and perhaps for the only - time in your life.
In order to accomplish your objectives, you should be aware of the main reasons transactions "fall through", and have some idea of how to prevent them from happening to your transaction!
One of the main reasons FSBO transactions "fall through" is that Buyers never arrive to tour the property in the first place.
It stands to reason that the more Buyers tour the property, the more likely an offer or offers will be forthcoming.
Most Buyers choose to work with a Buyer Agent, and typically, although not always, the Buyer Agent is compensated by commission offered by the Seller via the MLS.
Will you compensate a Buyer Agent who brings you a Buyer?
What amount of compensation will you offer them?
There are no "fixed" or "customary" amounts - but there is a track record in the MLS that shows what amounts have resulted in successful sales.
Do you have access to that information?
If you are offering compensation to the Buyer Agent, do you understand that they are representing the Buyer, not you as the Seller?
Do you realize that if an unrepresented Buyer does approach you directly, one of the first things they will ask you is whether you are willing to reduce your asking price by x% since you aren't paying a commission?
Do you realize that means your bottom line could be the same (or worse)
than if you were using the services of a Listing Broker - and you get the pleasure of doing all the heavy lifting for the Seller side of the transaction?
Just some thoughts for your consideration before you make a final decision about being an unrepresented For Sale By Owner...
We are happy to tour your property, provide a price analysis, and a "net sheet" showing estimated net proceeds of the sale after all expenses, all without Fee or Obligation.
This is just one of the many items of value that we offer our Sellers that have contributed to our track record of every listing we have taken since June 2011, both Traditional and Short Sale (and there have been dozens of them) having sold and closed escrow.
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About the Authors - Updated 2015
If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with Haven Express @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.
Listed, Sold and Closed more than a hundred Short Sales with the highest success rate in the Phoenix Metro Area!
Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!
Tony and Suzanne Marriott
Associate Brokers, REALTORSKeller Williams Arizona Realty
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