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Answers (10)
- Pasadenan
- Contributions:21458
By the way, the 2008 HUD study on FHA financed purchases indicate that 19% of the sales had absolutely no Real Estate Agent fees; neither for selling nor buying. And most FSBO will accept paying a buyer's agent's fees, so there are a lot more than 19% that are being sold "For Sale by Owner", especially when you take into account the fee to list in the Multiples, which most FSBO's consider prudent.
As for the lower return... that is a distorted figure. The HUD study indicates something similar but makes it clear it is not that the seller is getting less than market value, but rather white owners in median to lower median neighborhoods (implying less than median income) are more likely to do a FSBO, which means those making much more don't find it worth their time. But a FSBO for below median income households is very economically worthwhile. Again, what is being sold is not the same thing as how much the markups are. Those that are paying agents are losing close to 6% compared to FSBO. Almost no agents are making up these differences as the buyer's agent is just as good at negotiations as the seller's agent is. If not, why use a buyer's agent since they are going to make sure the price is marked up for the seller's return PLUS the commissions?
Yes, I fully understand that NAR propaganda helps make sales agents "feel good" about what they do, and build their confidence to keep working for that elusive commission; but it doesn't make the propaganda any more true, nor is it helpful to a potential client at all. Instead of being helpful information for a client, it is more likely to send that client looking for more honest representation.
As for the lower return... that is a distorted figure. The HUD study indicates something similar but makes it clear it is not that the seller is getting less than market value, but rather white owners in median to lower median neighborhoods (implying less than median income) are more likely to do a FSBO, which means those making much more don't find it worth their time. But a FSBO for below median income households is very economically worthwhile. Again, what is being sold is not the same thing as how much the markups are. Those that are paying agents are losing close to 6% compared to FSBO. Almost no agents are making up these differences as the buyer's agent is just as good at negotiations as the seller's agent is. If not, why use a buyer's agent since they are going to make sure the price is marked up for the seller's return PLUS the commissions?
Yes, I fully understand that NAR propaganda helps make sales agents "feel good" about what they do, and build their confidence to keep working for that elusive commission; but it doesn't make the propaganda any more true, nor is it helpful to a potential client at all. Instead of being helpful information for a client, it is more likely to send that client looking for more honest representation.
- Pasadenan
- Contributions:21458
If you don't want to pay the $39.95 for 6 months, you may be better off leaving the listing with the agent's contact info. There are a few other ways to get it listed on Zillow for free through other autofeeding websites, but most of those really aren't available to a For Sale By Owner.
Then there is always the "make me move" option, but most buyers don't take those too seriously as most people that have "make me moves" really don't want to sell and even if they do want to sell, many do not want to do the contract work and showings themselves.
If an agent claims to represent the property and you didn't authorize them to do so, the best solution is under the "edit" pull down under the photo is the "report a problem" button that you can use to have Zillow release the listing.
Then there is always the "make me move" option, but most buyers don't take those too seriously as most people that have "make me moves" really don't want to sell and even if they do want to sell, many do not want to do the contract work and showings themselves.
If an agent claims to represent the property and you didn't authorize them to do so, the best solution is under the "edit" pull down under the photo is the "report a problem" button that you can use to have Zillow release the listing.
- Rachel Rosen, "RachelRosen"
- Contributions:1493
It irks the daylights out of me for someone to tell you to do something that is blatantly fraud. You can't claim you're a Realtor if you are not one. Elk,
if you do that, and people call you assuming you are a Realtor, you are looking for serious trouble.
if you do that, and people call you assuming you are a Realtor, you are looking for serious trouble.
- Rachel Rosen, "RachelRosen"
- Contributions:1493
Wetdawgs had the right answer:
Ask your agent to take down the listing. Albeit, you'll then have to pay $39.95 to post it. Is that what you want to do?
Ask your agent to take down the listing. Albeit, you'll then have to pay $39.95 to post it. Is that what you want to do?
- rockinblu
- Contributions:7202
"Statistically only 2-3% of all For Sale By Owners sell themselves and 97% are listed and sold by real estate agents."
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An out and out fabrication, from someone, if not you, Dominique. Next time you might want to think through what you post. One other thing. If by chance you're an Active Rain or Trulia regular, you might get by with that sort of thing on those sites, but I assure you it's not going to fly here.
If 97% of FSBOs fail, and according to the NAR's last survey, their definition of FSBOs still accounted for an 11% market share.
Lets do the math:
.11/.03 which would give a figure of over 3.66 times as many sellers that started out as FSBOs as there were sellers overall. Now does that sound even remotely accurate to you?
elkamartin,
If do proceed with doing a FSBO, you might find this blog of some interest.
BTW, wetdawgs actually answered your question, however if you rather not contact the agent, possibly you can click on the listing and select the edit option. From there you would click on "Report problem with listing," and from the drop down menu, select other, and state your case.
Hopefully your contract has expired with the agent, or you have a full release from it from the agency's managing broker, or manager. If it hasn't expired and you just fired the agent, you better read your listing agreement thoroughly. Good luck.
- Dunes....
- Contributions:3894
A Study by the National Association of Realtors says don't do FSBO....Now there's a shocker
BTW//If you're referring to the 2010 Profile of Homebuyers/Sellers that NAR does..IT IS NOT A STUDY...IT IS A SURVEY
Questions are sent out and the return rate is less than 8%
"The 2010 National Association of REALTORS® Profile of Home Buyers and Sellers is the latest in a series of large national NAR surveys"
"NAR mailed an eight-page questionnaire in July 2010 to a national sample of 111,004 home buyers and sellers who purchased their homes between July 2009 and June 2010, according to county records. It generated 8,449 usable responses; the adjusted response rate was 7.9 percent. All information is characteristic of the 12-month period ending in June 2010 with the exception of income data, which are for 2009. Because of rounding and omissions for space, percentage distributions for some findings may not add up to 100 percent." Link to NAR Site
Check out the link yourself elkamartin and decide what weight you wish to give it...
Also be aware that if you use a Flat-Fee service to list in your local MLS that from that point on NAR does not consider you to be a FSBO and when determining it's "will end up selling their property for 14% less than one where professional representation" ...Your sale will be included in the sales numbers where "professional representation and exposure exists." (Because you used an Agent to list on the MLS)
BTW//If you're referring to the 2010 Profile of Homebuyers/Sellers that NAR does..IT IS NOT A STUDY...IT IS A SURVEY
Questions are sent out and the return rate is less than 8%
"The 2010 National Association of REALTORS® Profile of Home Buyers and Sellers is the latest in a series of large national NAR surveys"
"NAR mailed an eight-page questionnaire in July 2010 to a national sample of 111,004 home buyers and sellers who purchased their homes between July 2009 and June 2010, according to county records. It generated 8,449 usable responses; the adjusted response rate was 7.9 percent. All information is characteristic of the 12-month period ending in June 2010 with the exception of income data, which are for 2009. Because of rounding and omissions for space, percentage distributions for some findings may not add up to 100 percent." Link to NAR Site
Check out the link yourself elkamartin and decide what weight you wish to give it...
Also be aware that if you use a Flat-Fee service to list in your local MLS that from that point on NAR does not consider you to be a FSBO and when determining it's "will end up selling their property for 14% less than one where professional representation" ...Your sale will be included in the sales numbers where "professional representation and exposure exists." (Because you used an Agent to list on the MLS)
- Dominique Gaspar, "DominiqueGaspar"
- Contributions:12
As has already been said, it would depend on what type of agreement you have with the company. However, my question to you would be Why do you want to sell it yourself?
Statistically only 2-3% of all For Sale By Owners sell themselves and 97% are listed and sold by real estate agents. Can you afford to have only a 2-3% chance of selling your home? Also, in a study done over the last 3 years it was determined that the average private seller will end up selling their property for 14% less than one where professional representation and exposure exists. (NAR study)
Liability is also an issue with the number of mandatory disclosures required. I would make sure you really understand what you are getting into before deciding to sell on your own.
[Link to website removed by Zillow moderator]
Statistically only 2-3% of all For Sale By Owners sell themselves and 97% are listed and sold by real estate agents. Can you afford to have only a 2-3% chance of selling your home? Also, in a study done over the last 3 years it was determined that the average private seller will end up selling their property for 14% less than one where professional representation and exposure exists. (NAR study)
Liability is also an issue with the number of mandatory disclosures required. I would make sure you really understand what you are getting into before deciding to sell on your own.
[Link to website removed by Zillow moderator]
- Tyler Rygmyr, "Tyler Rygmyr"
- Contributions:205
That really depends what type of listing agreement you have with the licensed agent.
- wetdawgs
- Contributions:26829
Is the agent one who used to be your agent? Call them up and ask them to release ownership of the property on Zillow so you can claim it.
- David & Maria-Nella Landman, "PrimeOne Realty"
- Contributions:101
You need to see if you signed an "exclusive right to sell" agreement or not, if you did not sign anything, just list it your self on zillow or any free listing websites. In order to list your property in the multiple listing service of your area you will need to have an agent at least to imput only, imput only can be a service that an agent can give you for a one time flat fee of around $200 dollars and he will put your info in the listing as contact, but you need to see what you have signed with Inc.Listing, if is a one year or one month listing contract you will need to get them to release you from that agreement or wait for the expiration date
How do I remove an agent and list myself as owner seller
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- 0.0/5.0
Contributions:69How do I remove Inc.Listing as agent?
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