For Sale By Owner-New Hartford, NY Concerned

By
Real Estate Broker/Owner with Accattato & Company Real Estate

I have had a concern brought to my attention quite a few times since I started my For-Sale-By-Owner Marketing Company. It seems that there are people in our area that feel our local real estate agents only show their buyer clients their company listings. And are also concerned their properties will not be shown if they go the FSBO route to sell their homes. 

One couple stated that, "the agent only showed his company listings and did not show them their properties of interest, saying they wouldn't like it." And just found that odd without questioning the agent.

Another gentleman had a listing he wanted to see and the Agent told him, "he couldn't contact the Agent listed on the property." With no buyer agreement signed, this buyer called the agent off his sign to see the property. The said agent was irrate that the previous agent had made no attempt to contact him regarding a showing.

Common practice? I sure hope not.

As a practicing Realtor for 7 years in multiple states, I know there are a few bad eggs in the field. Fortunately, they are few and far between and not the norm. Most Real Estate Professionals are out there to service their clients professionally and ethically. Anyway, failing to do so breaches their fiduciary duty to their clients and of the Realtor Code of Ethics.

Also, Realtors routinely show FSBO homes to their buyer clients.  Why wouldn't they? In turn this will generate thousands of more commission dollars for the agent.

It is to our advantage as a community not to set such practices as normal routines. I feel I was trained by 2 of the best real estate companies in the industry; Century 21 and Keller Williams Realty. As new agents you are professionally trained on how to work with FSBO's and your buyer clients as well as exercise a high degree of care, skill and diligence in the conduct of the agents duties.

I hope to raise awareness of these concerns as well as others on my blogs and my website www.bellacasafsbo.com

Let's embrace the new ideals and business models of real estate marketing.

 

 

 

Posted by
Sincerely,
Tiffany Accattato
 Accattato & Company Real Estate
 
Licensed Real Estate Broker FL|NY
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Direct: 813.285.0654
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Rainer
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Patricia Gurley
Mohawk Valley 1st Choice Realty - Utica, NY

Tiffany, according to our MLS statistics, the split is 52/48 on cooperating sales to a company's selling their own listings. So, I would have to say that in our area we do not necessarily show only our own listings.

 

It has been my experience, in this area, that FSBO sellers, do not "protect brokers." They are not willing to pay a commission if an agent brings them a qualified buyer. I have worked with some of my customers for 2 years as a brokers agent... I have to ask .. if the owner is not willing to allow me to work for him as a sellers agent and to pay a commission, my options are nil.

Of course, I could be a buyers agent, and then ask the buyer to pay the commission. Unfortunately, buyers in this area are not accustomed to paying a commission for services of a buyers agent. Most of our sellers are sstill paying buyers brokers and buyers agents. My experience is the customer, is not willing to pay and will look for alternative properties. 

Personnaly, I think many people are suited to sell their own homes. There are allot of challenges..first is knowing the market and pricing accordingly. I provide a free market analysis for and FSBO seller that contacts me. All I ask it that when they are ready to list, I be given an opportunity to present my marketing program along with whomever else they interview. I do recommend that they offer a commission to an agent that brings them a buyer and that they advertise "Brokers Protected." This will increase their traffic.  Pat

Jul 27, 2010 03:33 PM #3
Rainmaker
24,553
Tiffany Accattato
Accattato & Company Real Estate - Westchase, FL
Your #1 Tampa Bay Area Real Estate Broker

Hi Pat,

I appreciate and thank you for your comments.

My post reflects experiences of only a few local buyers and their concerns of a few local Agents. In no way is this intended for all local Agents.

Our mission is to educate FSBO's on the selling process as well as the importance of coorporating with Agents.  Our Marketing Agreement includes a section for them to check the % rate they feel comfortable offering an agent coming in with a buyer.  Most are acceptable to offer a commission since they are saving on the selling side. 

So..... when you come across one of our FSBO listings please be sure to see "Brokers Protected."

Thanks again Pat and make it a great day!

Jul 31, 2010 08:46 AM #4
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Rainmaker
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Tiffany Accattato

Your #1 Tampa Bay Area Real Estate Broker
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