The Perils of the FSBO, Syndication and Limited Services Providers

Reblogger Roger Johnson
Real Estate Agent with Hickory Real Estate Group

Charita Cadenhead gives some excellent advice for those sellers considering selling FSBO or with a limited services provider.  If you are considering these options, make sure you know what you are getting (or NOT getting) for your money.

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Original content by Charita Cadenhead
The Perils of the FSBO, Syndication and Limited Services Providers

This post is not intended to bash FSBOS or limited services providers because each has the right to do whatCaution they do.  But rather the following correspondence between me and a FSBO is only a glimpse of FSBOs thinking that what we do is a breeze.  Of course personal information of the FSBO has been changed for obvious reasons.  Please note that the second paragraph of my response was not actually included in my response to the FSBO.  Instead I added to this post for the benefit of all FSBOs.

TO: Webmaster

From: FSBO
@gmail.com

Message:
Hi, The house 1234 Main Street in Some City in Alabama , is currently listed sell by owner, but agent welcome, not agent exclusive. please change
the listing type on your web for this information. Thanks.

FSBO
the owner of 123 Main Street
ph: 205-555-5555
 
Hi FSBO
 
Unfortunately I will not be able to change any of the information about your property that appears on my website.  You see, the information that is on my website is pulled directly from the MLS.  Therefore, you will need to contact the limited services brokerage that you hired to list your property in the MLS and have them correct any information that you deem incorrect.  Otherwise you will find yourself contacting thousands of agents one by one and asking them to change information about your listing that appears on their websites via IDX or other syndication methods.  But that type of one by one dissemination of information is just one of the perils of Sale by Owners.
 
Oh and just one final thing.  When you hired the limited services provider to list your home in the MLS, I am confident that they probably explained their menu of services thoroughly and as a result, you selected only the services that you felt you couldn't perform yourself (i.e. putting info in MLS).  Unless you have sold a number of homes before FSBO, then I am sure that this experience has been quite daunting as wells as disappointing in the 5 months that your home has been listed.  But know this, it probably isn't too late to revisit the services that you thought you could live without.  And it's okay to change your mind and recognize that perhaps a full service brokerage agreement would benefit you.  Afterall if entering information in the MLS is all that we real estate agents did, heck I'd have far more time on my hands.

Best wishes on the sale of your home,

Charita Cadenhead
Bham WIiRE Realty
www.bhamwiire.com
 

 

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Ambassador
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Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)
Thanks for the reblog Roger.
Aug 23, 2012 05:08 AM #1
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Roger -- knowing what to expect(and what things you won't "get") as a For Sale By Owner is so important.  Knowledge is a good thing -- This is  a very good post to re-blog.  

Mar 07, 2013 02:39 PM #2
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