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Exclusive Right Non-Representation - What The Heck?

By Carol Zingone

Real Estate Agent with Berkshire Hathaway Home Services Florida Network Realty BK 3030920

December 10, 2007 04:17 AM

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.

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Joe Olmi

La Entrada Realty - Albuquerque, NM

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.

Dec 10, 2007 04:28 AM

Stanton Homes

Stanton Homes - New Home Builder - Raleigh, NC

Design/Build Custom Home Builder in North Carolina

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?

Dec 10, 2007 04:44 AM

Larry Wright

nwRealty.Com - Tacoma, WA

Carol, limited service listings are here to stay but if the Seller is truly motivated they'll list with a full service broker.

Dec 10, 2007 04:48 AM

Carol Zingone

Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL

Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

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!

Dec 10, 2007 04:55 AM

Wayne B. Pruner

Oregon First - Tigard, OR

Tigard Oregon Homes for Sale, Realtor, GRI

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.

Dec 10, 2007 05:07 AM

Pam Graham

All Real Estate Options - Jacksonville, FL

Jacksonville, Clay & St Johns Counties

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?

Dec 28, 2007 05:03 AM

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.

Dec 29, 2007 07:49 AM

Exclusive Right Non-Representation - What The Heck?

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