Comments on: Why You Don’t Need a Realtor

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.

By: Mike

Mike — Thu, 25 Sep 2008 14:49:18 +0000

I live in one of the most booming real-estate markets in North America; Calgary Alberta Canada. The cause of this boom is a direct result of a thriving Oil & Gas market.
Property values have gone through the roof and everybody is trying to catch a ride on the gravy train.
During this boom, I purchased a home and promptly sold it in 8 months for almost $100,000 more than what I paid. I had a realtor “sell” it for me. I guess that depends on your definition of “sell”. I took all the photos, had a professional interior decorator come by and offer suggestions on how to stage my home, I had it cleaned by a professional; I even hung the signage myself. All my realtor had to do was post it on MLS. The result?…my home sold in 1 day. That’s right; less than 24 hours of being on the market.
My hypothesis is this, if you have a nice home and make it attractive to the masses (decore, furnishings, cleanliness etc.), your home will sell itself.
As for having a so-called “professional” do it for you, well I must say that of the dozens of agents I know, very few of them are educated. In fact many of them worked in the bars or sold drugs and turned to the lucrative real-estate industry to build a career.
No offense to the realtors out there, but I personally don’t feel the need to pay somebody thousands of dollars to sell my home when all you really have behind you is a couple of hours of practicum and some crappy tests that an 8 year old can pass.
Mike

By: Actually NOT a realtor

Actually NOT a realtor — Mon, 19 May 2008 22:04:20 +0000

WOW… I’m with Jane. Gregory Bain’s response pretty much sums it up. He wouldn’t show his buyers the better property, and even admits it? Again, wow. That, Gregory, is what gives realtors a bad rep.

By: FSBO Jane

FSBO Jane — Tue, 04 Mar 2008 19:55:21 +0000

Gregory Bain:

Let me get this straight: You saw a quality property out there, listed for sale by owner, in your client’s price range and even in better condition (!!) than the other options.

But instead of giving your buyer the choice of which property to buy, you made the decision for them and didn’t allow them to see the better home, simply because it was a FSBO home.

Your direct quote states: “I didn’t show the house and I didn’t bother trying to get them to list. I sold my buyer a home they liked in the MLS – actually it was in my company inventory of homes.”

That, Mr. Bain, is completely unethical, and you should be ashamed of yourself. You weren’t even willing to work with these homeowners, simply because of your own chip on your shoulder. Disgusting.

I don’t even want to respond to your other baseless accusations now. I think it’s pretty clear who is working in the interest of the homeowner and who isn’t.

Jane