My family has invested in real estate ( vacant residential Properties ) in Florida. The Properties have been listed for sale on our company website as well as For Sale signs on the lots but never listed with a realtor or on the MLS. 6 months ago I started marketing 3 of the properties in a very fast developing area ( Poinciana, FL ). I have even offered a discounted price for a package of the 3. I have made a website , Made videos , Posted to Craigslist , Zillow, and everywhere i can think of. Every month I see More sales and Sales Prices going up. But it seems to me that Everything being sold is by Realtors. Now Lets think about this.. Its vacant properties so why would I need a realtor to show my property to somebody. Its not like they need a key to go in and look around. Are there no buyers out there for FSBO? I have put a signs on them and marketed everywhere but MLS and realtor.com. So Maybe is a flat listing on MLS what i need? Or should I really be with a realtor? Thank you for all Input.
When you say vacant properties I assume you mean raw land?
For better or for worse, real estate tends to be an agent's game. No agent has any incentive to market your property sans commission. I would agree that more people today than in days past are apt to find the property themselves, then have the realtor show it to them, but there are still plenty of people that just show up to the realtor's office saying "I want to buy X, show me what you've got".
While I think that many realtors suck, the commission shouldn't really be the deciding factor. If 6% of the sales price makes the property a loss, it's too marginal to begin with.
@Jd Martin Thank you for your response. When i say vacant land I mean there is no structure or house built on it yet. They are really to build lots but yes just Raw land. I have learn of some sick things realtors have done. If somebody was interested in my property and they told their realtor to look into it, is it possible the realtor would sabotage it because they know its not listed with a realtor. The 6% doesn't make or break the deal i just feel like i have already done all the work. I have talked to realtors and showed them my website and video and they have told me that it is excellent and great marketing and they would use my video and info to market. Thanks
@Brian Fowler most realtors are good people and will work hard to sell your property. Are there bad ones? Sure. But there are bad people in any industry. The professionals always shine through.
Land is much less desirable then a house Did you try connecting with builders in the area? if you try to market a finished project with comparables in the area and team up with a builder you would open a larger market .
Is it possible? It is, but for a very interested buyer it would be simple for the realtor to approach you and offer to represent both sides for standard or reduced commission. Most of the realtors I know won't bother with cheap stuff, i.e. if your land is $10k per lot there's just not enough money there for anyone to work at it. And my experience in the past working with realtors to buy raw land is that they're generally not interested, even for parcels listed with realtors, unless you're talking about a lot of property.
@Account Closed I have listed 3 Properties for $50,000 so there is some room for a realtor to make money. And they are great locations in a very fast developing Area where there are more sales every month and prices are going up.