Every seller is a FSBO?
May 10, 2005
Every seller is a FSBO? Simple answer is yes. What we need to focus on is how much the seller does vs. a real estate agent. It can be a little to all. Consumers are getting smarter and are increasingly disenchanted with agents and brokers who are collecting commissions and not having (or not willing) to do much, especially in a robust sellers market. In addition, sellers are increasingly frustrated with buyer agents (who sellers are paying by the way) making a transaction difficult or even watching one fall apart. With so many agents after so few properties, any warm body with an interest in buying is fair game even though they may not be serious, motivated or even qualified to buy. I am beginning to see a trend...
Other Revelations:
Our experience with the last few agents we have dealt with is they really don't have their act together. We end up doing much of their work.
Examples:
- At a critical time in a transaction, a buyers agent didn't know where their client was and didn't know how to contact them.
- A selling agent for a piece of land didn't understand the concept of "study period" to ensure our buyer understood all the land use issues. This same agent couldn't grasp the concept of coinciding settlements.
- A buyer's agent couldn't give us a clean purchase contract that we could read. We were asked to provide a clean contract copy to their lender to be able to underwrite their loan.
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