All Forum Posts by: Jorge Zea

@Account Closed is correct. Brokers will scare you of doing it yourself; but you can do it. I would suggest though getting a Real Estate Attorney to make sure all disclosures and documents are OK. CA is a disclosure-rich state and it is complex for unexperienced individuals ... nevertheless you don't need a Full Service Brokerage to do it.

Nevertheless to get a buyer fast you should look into a Flat Fee MLS listing service that covers Sand Diego ( I suggest Homecoin.com - search BP for: Jon Minerick - he's the owner and broker). Getting the house in the MLS will assure you a fast buyer. FSBO with no MLS are rarely effective.

Matthew hi. Check my profile and look at our service.

You need MLS exposure and offer a commission to a buyer agent. This will get the property sold. Going FSBO without MLS exposure will most probably get you nowhere.

92- 94% of all sales of residential properties happen through the MLS with the intervention of a buyer's agent. Straight FSBO rarely work because of this. You MUST be exposed to the MLS ... exponentially offering your property to all Realtors and all of their buyers.

Nevertheless you can skip the Listing Side of the commission by going with a local Flat Fee Broker (Check licenses in your state) and you will be fine.

Particularly in CA: get a Real Estate attorney regardless of what kind of Realtor you use. CA is a disclosure rich state and you will need guidance regardless.

I am with @Jonathan Minerick. We participate in more than 20 different MLS systems and none display nor they require entering the Listing Agent's commission. this is a private a matter between seller and Listing Agent that MLS systems do not allow to be listed. As he mentions the "Exclusive Agency" is a very normal type of Listing Agreement where seller retains the right to sell the property on its own ... regardless if it is a Flat fee (Entry-Only) or a full brokerage. There is an appropriate filed in the MLS system (most of them, but not all) where the listing agent marks if it is an entry-only or full service or limited service.

I have had instances where Realtors refuse to show Entry-Only listings or low commission listings but what has happened, in at least 7 cases that I have documented, is that the buyer goes online (Zillow, HomeSnap.com, Trulia, etc) ... and jumps his Realtor all together and ends up buying the property on their own or with another Realtor that wants to do the job).

In todays market, with today's technology, and online resources, the power is back in the hands of the seller, where it should be in a free market. It is up to  a customer (seller in this case) to have the freedom to decide the level of service they need (full brokerage, limited service, a-la-carte, entry-only, flat fee) and pay accordingly. And the Buyer's agent also have the control to decide if they want to work toward a specific property listing or not ... The old model (where the only way was to get a Full Brokerage and pay 6% even if you didn't need or didn't want the services) is over; now people have choices ... and this is how it should be.

Metaphorically: before you wanted to buy a car and the only alternative was a BMW 5 series. Now you can decide if you want a BMW, a Ford or a Civic ... or use Uber and Lift and ditch the car altogether.

I agree 100% with @Jonathan Minerick

On item 2: While studying our competition we have found that some not only charge an additional fee at closing, but also collect a fee from the buyer's agent (even more creative) which reduces traffic dramatically without the seller even noticing that this is being done.

Howard.

These sites you mention have poor reviews because they are not the actual listers. They are referral companies that resell you property info to a third party broker and the control, quality, follow-up, etc is lost. Google for FLAT FEE MLS in your state. Most probably there are a few good local Brokers doing the job. Give them a chance and they will perform well. Make sure they are licensed, the individual broker is identifiable and you can contact him/her. check licenses as well. You should be fine. Sorry we don't cover OH.

Sorry Obi - we are not licensed yet in OH.

@Jack Berning might be able to help you out ... he might use someone local. WE work with many wholesalers and they are the best witnesses to our quality, service and success. That's what this BP community os for ... give each other a hand! . 

@Account Closed how are you. I encourage you to google for a Flat Fee MLS service in the location you need. Make sure you get a state-licensed broker and not a referral service. They must be good ones out there.

Hi Eric.

You can offer whatever commission to buyer's agents (not necessarily 3%).

The MLS requires this information for the property to be posted so you will be asked ahead of time by the listing company for this. Realtors will see it right away when they search the MLS.

All companies offer different levels of service. Generally you are correct: they limit themselves to publishing the property and forwarding you the leads ... some provide you any needed contract and disclosure forms. You manage showings, negotiations, etc.

You can stipulate cash Only ... all MLS have this option or you can put it in the description wording.

WE have listed more than 2000 properties via our Flat Fee Services .... it is simple, straight-forward and effective. Just make sure you deal with a state-licensed broker in your state and not a referral service.

Talk to the listing company regarding cancelling. Most have no problems and you can cancel anytime ... but I have seen those who charge a fee for cancellation.

Just understand what service and conditions and additional fees the specific FlatFee MLS company you are using, have. Each service is different.

You will save a bunch of money. YOU CAN DO IT!! It is easy and effective.

Don't listen to those who tell you otherwise ... (most probably full service brokers).

Go the rout of a "Flat Fee MLS Listing" - get a reputable local state-licensed Flat Fee company (never a referral service) ... you will be just fine.