Realize that the main reason buyers look
at FSBOs is because they also believe they can save the real estate agent's commission.
For now let's look simply
at the FSBO market and what we need to know about that area of our business.
I have always looked
at FSBO's and FSBO companies as great opportunities and if you go back to Real Estate 101 (the basics) you could find the same thing... over 90 % of FSBO's homes are sold by Realtors while «realtors» sit around and bleat about it... pity.
I keep at least 10 [safety information sheets] in my car and will stop
at every FSBO I see and go place it on their door.»
Most buyer's who look
at FSBO homes want to share in your commission saving which in the end amounts to most sellers not saving the amount of money they think they are going to.
Rather than looking
at the FSBO companies and alternative MLS models as the enemy, why don't you offer more choices to your clients / customers rather than sitting around crying about the competition taking your business.
Now let's look
at the FSBO scenario, but let's pretend that the homeowner's luck turned, and he found a buyer before hiring the real estate agent to list his property, and as luck would have it, the buyer wanted to make a full price offer.
Not exact matches
Not only are realtors facing new competition from people like Arora within their own ranks, but also deep - pocketed companies including Power Corp. are moving in on the for - sale - by - owner (
FSBO) space,
at long last creating a nationwide alternative to the MLS, which for years has been a near - monopoly marketplace.
Today, Duproprio's group has 12,000 listings, making it
at least three times larger than the next biggest
FSBO company, Moncton - based franchise outfit Property Guys.
In certain markets and
at certain times,
FSBO sites have become essential viewing for anybody looking, and the segment had expanded furiously during the boom years from 2003 to 2007.
That expanded the reach of For Sale By Owner (
FSBO) services, which had previously operated
at a huge disadvantage.
The
FSBOs now on our MLS system frequently sell for more than they could if the buyer looked
at several properties with a realtor who could advise them that this property is overpriced.
Go to the door of
at least 30
FSBOs or expireds.
The myriad of associations we support with our hard earned dollars are more than willing and able to sanction its members but fail miserably
at creating a level playing field, thus allowing
FSBO's and «associated» realtors to work the system in ways that we are not.
I wonder if Carson and Dunlop charges a higher fee when inspecting a
FSBO or mere posting listing, since it has not been initially vested by a Real Estate Professional or does C&D charge the same because they don't recognize
at least to some degree that a RE Professional under a Full Representation Contract has
at least given a home their once over.
Another motion brought forward by the FIT and passed
at the Special General Meeting was that CREA no longer pursue the proposal to make
FSBO and non-MLS data available on Realtor.ca.
There could be some sort of FREE counsel
at the Land Registry office to help
FSBO's... all
at gov» t expense of course... it would help the
FSBO market tremendously, would it not?
How many recently expired properties — that had been professionally listed — has any
FSBO company subsequently participated with that they were able to have their brand successfully associated with a completed sale, and
at a price close to that that had been sought by professional real estate?
There can be little doubt that some listing Registrant, REALTOR's of «mere postings» are not stepping inside the front door of these homes, and I have written confirmation of that from one such Seller — who was also working
at the time with a large
FSBO Marketing Company.
I was successful
at the doors of
FSBO's because I had a history in sales, and enjoyed earning the trust of a stranger.
To the best of my knowlege there is no
FSBO police force
at work — telling Mr. or Mrs. Public what and how they MUST do things.
Yours goes hand in hand with contradictions of the give it to me for peanuts crowd of consumers who tout the
fsbo MLS route because selling a house is so easy and that buyers do most of the work by finding the properties online while
at the same time complain that REALTORS won't bring the buyers to a property listed with a discounter.
I don't work in that market and homes don't sell like that in my market but the principle remains the same — there's a limit to what people will pay and the increase in our business
at 3.75 % and the use of
FSBO companies is a simple reflection of that fact.
A proposed amendment to the
FSBO issue was raised
at the AGM and after «brief debate» the motion was defeated and the plan passed.
In recent years, the national
FSBO rate as a percentage of all sales has held steady
at 8 percent: «Despite the prevalence of online viewing,
FSBOs are
at near historic lows,» Yun says.
A
FSBO is still a
FSBO no matter how you look
at it.
FSBO not only overpriced his property but failed miserably
at marketing it.
Realtors — by shutting the public out of the MLS system and by refusing to show
FSBO listings unless the vendor agrees to pay their commissions — have created a virtual monopoly which EVERYONE who wants to sell a house is practically compelled to deal with
at least once or twice in a lifetime.
FACT: Currently every association, must represent mere posters,
FSBO providers, agents convicted of assault and part time agents with the exact same equality it represents the Professional Agent and Full Representation Brokerage,
at all times completely unable to take any action that ONLY benefits any one group, even if that group is the overwhelming majority.
We have enough problems getting listings with more and more sellers listing on
FSBO sites, PLUS,
at the same time listing on the mls with discount brokerages.
How about those agents who work with buyers for nearly a daily basis for weeks
at a time showing them houses all for them to change their mind and rent for another year or buy a house from a
FSBO seller who won't pay a commission that agent will make 0 even a negative amount considering gas and time they spent.
You should not fool yourself into thinking Dave that you're providing anything more than the clerk
at the newspaper who takes an ad or the non-registered assistant
at the office who loads a listing because as a
FSBO provider you've abdicated all responsibilities to become nothing more than a data entry clerk for which you get an up front non-refundable fee.
We can tell you that
at this time many previous MGO homes are currently advertised on both MLS and
FSBO websites WITHOUT the proper disclosures.
Red Herrings like, letting
FSBOs postings and now «Rate Your REALTOR», have been discussed and I now wonder if these ridiculous topics were brought forward to misdirect memberships attention from the real massive issue being voted on
at your AGM.
Take a look
at the prevalence of
FSBO in Quebec (60 % of the business).
FSBOs remain
at an all - time low of 8 %.
Contrast the above payment - for - success - only compensation plan to that of a
FSBO / mere posting outfit's, which charges folks up - front fees for such things as: an upload of one's listing on someone else's privately owned / paid - for MLS via a federal government - agency - backed highjacking maneuvered tactic; for a couple of $ 10.00 «For Sale» signs, for some forms that can be downloaded from the internet for free; for «advice»
at the end of a telephone line from generic sales people who have no vested interest in whether or not the already - paid - for advice, for better or worse, actually results, if heeded and acted upon, in the sale of the subject property, or not.
This effectively nullifies the whole consent order with the Competition Bureau and shuts out the expansion of Organized Real Estate into the growing
FSBO market and any attempt for Organized Real Estate to
at least try to join the 21st century and dooming the industry to failure in a few short years.
That REALTOR ® is most often worth every penny, having employed knowledge, skill, and expertise
at many levels in order to achieve the best end result for the client, no matter how many houses were viewed,
FSBO's or MLS listings, whether the client buys a
FSBO or any other property.
He therefore knows the Real Estate and Business Brokers Act, and knows that if he owns a
FSBO company he is misrepresenting himself both to Customers and to the population
at large exposing himself to penalties under the Consumer Protection Laws and the Truth in Advertising Laws.
As for the
FSBO companies they are interested in only one system — realtor.ca because it gives them a national presence
at your expense.
At first blush, one might think that buying and selling privately, commonly referred to as «for sale by owner» or by its acronym
FSBO, is advantageous to both parties.
I am quoting from your post... «The other point I made is our industry making a habit of pointing fingers
at our new members to the industry (brokerages owned by the
fsbo industry)»
I believe there is misrepresentation
at work in your words... the concept is not to EXCLUDE showing listings that may meet the clients» needs, just because a property is a
FSBO.
In the beginning of this fiasco I suggested to both CREA and TREB that since it costs me $ 1,200 per year (and I am a sustaining member) it is reasonable to charge
at least that for each mere listing or
FSBO listing their property on TREB.
I am looking
at a craigslist deal that is
FSBO.
Let the CREAcrats levy the
FSBO / Aitken - supported hyjacker outfits for their next feeding -
at - the - trough frenzy in the name of silly - servant experiments going wrong.
No agent is in control of the billing process
at any company — either in full or in part, if the
FSBO elects not to pay — if that was the outset goal of the
FSBO, and it all has been disclosed as such.
FSBOs who drop $ 600
at Century 21 - Coventry Real Estate, Sandy, Utah, get a lot for their money: a yard sign, a listing on the company's Web site, an MLS listing, all the forms they'll need, a booklet on selling, and marketing and disclosure tips.
A Look
at Four In - House
FSBO Programs,» TR Inc., June 1998, page TR1).