Comments on: Why You Don’t Need a Realtor

By: fsboflip

fsboflip — Tue, 27 Sep 2011 17:41:18 +0000

fsbojane and writer of this blog: As “licensed or as you say you are, which I doubt” agents you duty is to provide valuable information to people to help them make the buying and selling process easy. NOT tell them a bunch of BS of how easy selling yourself is, because it is not. I flip fsbo’s overr to reality everyday and most of them sell within a month of me listing them. Why lie and say that the fsbo websites work, 90% of the houses on those sites are A. listed with a realtor, B> sold by a realtor. Type in fsbo.com’s owner sells house in google, imagine that the owner of the company sells with a REALTOR! Why? because it only makes sense. Im not saying there are not shady realtors because ie dealt with some of them and they should have lost there license long ago, but why tell owners that they can do it themselves when they have either never sold a home, or have any idea how. yes, you can google it, yes you can list it, but fsbo sites and google cant save the home owner from lawsuits, the buyers agent wiping the floor with them with negotitation and not having a disclosure is very risky. Plus why waste the money? if a home doesnt sell with a Realtor, you owe nothing they make nothing, if you advertise yourself and it doesnt sell, guess what you just blew 2-4k on advertising the way REALTORS do, yeah commisions are high, but ask yourself this. If someone gave you a job and said im not going to pay you by the hr but by how much you do, how much would your time be worth? if a agent doesnt sell a house in 3 months, his/her family doesnt eat, not to mention good agents will hunt for buyers for your home.Heres another FACT for you, count how many fsbo listing there are vs broker listings, count how many fsbo listings sold last quater vs broker listings, if its sooo easy why arent all the broker listings selling fsbo? Why? because it makes NO sense!

By: mark

mark — Fri, 18 Feb 2011 16:25:11 +0000

Oh my god, “people you don’t know on your doorstep!”

Remarks of fools.

By: mark

mark — Fri, 18 Feb 2011 16:21:19 +0000

Ooooh…nothing like fear to sway the masses.
Rock on FSBO!

By: Paul Stall

Paul Stall — Sat, 22 Jan 2011 21:36:25 +0000

In the industry I do see, as an active real estate investor who happens to have a license, these kind of things. The problem lies that we are much more likely to spread that type of story rather than to spread the professionalism stories that you would expect to see and that we typically see on a daily basis.

By: Jessica Todd

Jessica Todd — Wed, 30 Jun 2010 16:51:16 +0000

I think having a Realtor is giving the buyer and seller MORE power! We have to do what you tell us to do, within the law…We can’t stop say a minority from looking at a house, but we are on YOUR side. The lady who told the buyer that he clients will accept less is in major violation, and can and I do encourage the buys to take her to court for triple damages, along with reporting her to the board, because she should NOT be an agent, and those people are the ones that give us a bad name.

Having a realtor means you can trust that everything is being done the way it should be. How are you suppose to understand everything going on at a closing with out one? Some people might, but others won’t. So, do you NEED an agent, no….but I think it is a better move to have one.

By: Carl Ellis

Carl Ellis — Fri, 26 Feb 2010 01:33:08 +0000

The current transaction models for the buying and selling of real estate are flawed. For the investor the wholesaler-buyer transaction model pits the best interest of the wholesaler; profit, versus the best interest of the investor-buyer; buying property at the lowest price possible.
A real estate agent’s financial best are often best served by either selling for the highest price possible or taking a lower offer to make a quick sale. By working as an intermediary between seller and buyer a real estate agent may refuse to give a seller an offer that doesn’t work in the real estate agent’s best interest. The situation is just filled with opportunities for conflict of interest.

I see new transaction models emerging that will allow for more transparency between buyer and seller and lower cost.

By: Shelly Smith

Shelly Smith — Tue, 09 Feb 2010 11:27:10 +0000

A conversation I had with my father as a youngster that has stuck with me thru the years and I think it applies here.

One day I asked my father why we he take his car to a shop for an oil change while my friends dad changed his own oil? Is it because you don’t know how?

He responded with…….
“I know how to change the oil in my car but I choose not to. That is not what I do best or how I choose to spend my free time. The best person for that job is someone who has all the right tools and practices changing oil regularly. You will learn that if you focus on what you do well you will be paid well and make enough money to pay others for what they do well. That way you have time to spend with loved one enjoying life and keep the economy strong.”

“And by the way I know how to make ice cream also! Now ask yourself would you like to put my amateur skills to the test or would you rather go to Ted Drew’s for that famous frozen custard while we wait for the oil to be changed?” Lesson learned!

I am lucky enough to have an opportunity to focus on my passion for Real Estate and get paid to do what I love. As an Agent I work hard for my clients so they can keep to their schedules and experience a seamless transaction. I invest a great deal of my time, efforts, and money to protect their interests and help them get the best deal possible. In turn I can pay others to do what they are best at so I have time to spend with my loved ones and enjoy life. Full Circle!

Time is a precious gift and life is too short! A minute save is a minute earned.

Beyond the liabilities and tricksters……I worry about the safety of the FSBO’s. They don’t take the same precautions we take when letting people in their homes and knowing their schedules.

I no longer actively seek FSBO’s because in my market they are often looking to overcharge for their homes instead of coming to grips the short sale situation they are in. Whenever I see a sign I will drop off a safe tips booklet.
On more than one occasion i have been called by a FSBO seeking help from a professional only after they have experienced the bad…. Identity theft-robbery-threatening offers.
I would encourage other Agents to watch out for those stubborn FSBO’s – they are easily excited over showings and don’t always realize the dangers in our world.

By: Ross Quintana - Team Quintana Real Estate Spokane WA

Ross Quintana - Team Quintana Real Estate Spokane WA — Mon, 18 Jan 2010 18:32:44 +0000

There are many flaws with this opinion.
1. Realtor work doesnt equate to the work. Tell that to my clients whose home sells while other FSBO and Realtor homes sit on the market and expire. Fact is that only about 10-15% of FSBOs sell and many of those are below market value. All agents arent the same and we sell our homes on average at 3-4% higher than the average agent in our area.
2. Realtors seldom work in your best interest. Again there are good an bad agents,. I always work in my clients best interests even if that means talking them out of making bad decisions. Fact is that FSBOs do stuff all the time that isnt in their best interest in negotiations, marketing, pricing, and staging. Compared to a professional most FSBOs are not helping themselves sell their homes.
3. Agents are in cahoots – No I represent my clients and the other agent represents theirs if I negotiate, I am working on getting my client the most, a FSBO has no expert negitiating for them so they usually take a loss or are so rigid they lose sales.

4. Little tidbits, the author suggested a FSBO site to advertise. Most people going to a FSBO site are looking for a deal, if they google a FSBO site they plan on finding a deal or putting a lower offer because the seller doesnt have a professional, or because most FSBOs are overpriced this only encourages lower offers. It is a recipe for a loss and statistically FSBOs tend to sell about 9% lower than homes with agents. I know because I have built my business on FSBOs that dont sell and end up listing with me. For 8 years I have been getting business from the 9 out of 10 that dont sell. Most people who do FSBO do it because they are simply undereducated or they would make a smarter choice.

By: John O'Connor

John O'Connor — Sun, 04 Oct 2009 22:39:51 +0000

Listing a home with FSBO is a BIG MISTAKE! I’ve known people who put their homes for sale just by simply putting a sign and believe me they were no happy. The potential buyers and the sellers were not capable of properly negotiating or executing the transaction smoothly as language, inexperience and other factors were to blame. Remember, you get what you pay for. A real estate professional can hekp you negotiate deals, take docs back and forth to you,buyers,lawyers, setup for moving day, and so much more. A realtor can also find the buyer for you just by simply talking to other agents in the office. This FSBO business is just that, a business. A bunch of people putting others down to make some money, shame. FSBO jane, try other ways to persuade people to give you business. Becoming a real estate salesperson is not easy, relocating individuals and making sure that they are happy where they live after they have moved is also what a salesperson does, or most do anyway, do you provide this service, No! All you do is put a sign on the lawn and put it on the internet. Im sorry, my grandmother can do that. Do you do open houses? No! But I guess the sign on the lawn will make up for that

By: Chmed

Chmed — Sat, 19 Sep 2009 15:30:46 +0000

I think the one issue that is not being addresses directly (and is the crux of the issue as far as I’m concerned) is that how realtors are paid is ripe with opportunity for conflict of interest. I completely agree that industry professionals are needed and most real estate agents provide these valuable services. But when agents are paid on commission, it doesn’t provide the right incentives to work completely on behalf of the seller or buyer. It’s not an issue of a few bad apples providing the fodder for these articles. The system itself doesn’t allow realtors to be completely unbiased. I think the system has stayed the same way for so long because each house sale is, for the most part, an independent transaction with independent people. When confronted with the option of using an agent for this costly transaction or trying some kind of “experimental” approach, most people will go with the tried and true. There should be a better system but because of the history that the system has, a new system cannot get traction. That and most any other way of selling (or buying) means cutting the industry professionals out of the deal which is replete with issues. We need the professionals, but it can be akin to getting in bed with the wolves.

Someone made a comment about how when using a realtor you are paying for more than just that agent; you are paying for the entire system. I can understand how that would make sense if you are buying and selling homes your entire life where the costs (and values) can average out. But if I buy (or sell) just one home in my lifetime, there is a good chance that I will end up somewhere off of center.

Chmed

By: Lydia

Lydia — Wed, 17 Jun 2009 20:11:11 +0000

I would never buy a house without a Realtor. Sellers are out there to make a buck and take advantage of a buyer. Most of them hide all the problems they know the house possesses. Using a Realtor costs a buyer nothing. At least if the home is listed for sale, the seller is obligated to sign disclosure forms and can’t sell a home without disclosing.

By: KU

KU — Mon, 15 Jun 2009 05:03:21 +0000

@ Mike

I think the major perk of a realtor for a lot of people is the time. In some cities it is extremely hard to find a place to live, so much that it’s like a fulltime job. When my parents moved to Philadelphia they had almost no choice but to get help finding adequate real estate. While in places like Utah or Calgary it’s often easy to sell on your own, in more densely populated areas it takes a LOT of work.