Lets Talk About FSBO’s.

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FSBO, the acronym for “For Sale By Owner”. Fsbo’s have been around for a long long time in real estate business so from that point of view nothing has really changed. What has changed however is the Fsbo’s ability to place their property listing on “MLS” and “Realtor.ca”. This now enables the private seller to expose their property on what was once Realtors coveted space. Some would go as far as saying evening the playing field and potentially endangering the real estate brokerage business as we know it.

Before we go any further, let me make myself clear as to where I stand on FSBO’s. I feel that if you have a friend or family member that has expressed an interest in your property and has stated to you that if you ever want to sell it, to speak them first, why wouldn’t you? Provided that both parties want to enter the transaction with a win/win approach then go for it. However if this is not the case and you’re going to be playing “weekend Realtor”, I feel you’re going to not only put some money at risk, you potentially run the risk of entering into a real estate transaction that could be a potential litigating mess. Why you ask? Let me explain…

Real Estate Buyer Services Are Free!!

Let’s look at the situation from the Buyer’s eye. As a Buyer I have two choices. I can go out and try and find a home on my own, struggle through the offer process, negotiate the deal, get the financing, deal with the home inspector, waive conditions (hopefully properly executed so there’s no loop holes on closing), get all the documentation to the bank, hire a lawyer, make sure the closing process is proceeding with a glitch and finally close the deal and move into my new home. OR, I can hire a Realtor and let him/her do all that for me. Not to mention, they’ll do it around my schedule and not only at the time are the Sellers going to be home. Realtors have the majority of the listing inventory, they already have a co-operation commission already factored into the process so all of this we basically be offered to the Buyers for FREE! Oh and they’ll probably buy me lunch a few times through the process to. So you got to ask yourself as a Seller, if this is the case, why would a Buyer deal with you direct?  I’ll tell you why….

BUYERS ARE TRYING TO SAVE THE SAME COMMMISSION YOU’RE TRYING TO SAVE!!

But if they’re trying to do that to, then what’s the advantage. NOTHING!!

Okay, this article looks like it’s going to be a little longer than I thought and I was told years ago, don’t make an article longer than 500 words or you’ll lose your audience.

THIS TOPIC TO BE CONTINUED!!

Walter.

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