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I've been released from contract with agent. How long before is can list as FSBO.

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May 31 2012 - New York
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Answers (7)

Profile picture for Dunes ..
National Association of Realtors, now there's a credible source of info lol
Some Agents just feel it's their duty to Prospect FSBO's
FSBOs are not good for their Chosen Profession ;)


NAR obtains many of their "Facts" like the % provided by a Realtor from a Survey they do each year (Profile of Homebuyers and Sellers) which has a less than 8% return/response rate

"NAR mailed an eight-page questionnaire in July and August of 2011 to a national sample of 81,099 home buyers and sellers who purchased their homes between July 2010 and June 2011, according to county records. It generated 5,708 usable responses; the adjusted response rate was 7.3 percent. All information is characteristic of the 12-month period ending in June 2011 with the exception of income data, which are for 2010. Because of rounding and omissions for space, percentage distributions for some findings may not add up to 100 percent."
LINK


They also do not count FSBO's that use the MLS (Flat-Fee) or pay a Buyers Agent a commission as FSBOs which tends to pad that specific %


THERE IS NO CREDIBLE SOURCE OR DEFINITIVE STUDY showing FSBOs do or don't sell as well or they do not get as much money
as someone using a Realtor...
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July 03 2012
You should reconsider selling as  forsale by owner. National Association or Realtors stats say; that on average a realtor nets a homeowner 8% more than a seller does selling on their own. Why not hire another professional to sell your home for you.
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July 03 2012
Jim has the definitive answer above. The listing contract has a period in which if you sell it to anyone the agent/broker showed the proeprty to you can still owe them a commission. Once cancelled you have many ways to go to sell your home as a FSBO.  There are more expensive brokers whose very name signifies For Sale by Owner, there is the MLS only lisitng which puts your property on the local MLS for a small fee with you only having to pay a buyers agent a commisison, or there is the true do it yourselfer who puts their own sign in their front yard and hopes for a drive by buyer. If you go that route also try to find brokers who will advertise your FSBO listing for free on their own web sites, this at least gives you syndication to over 100 other web sites. Good luck!
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June 01 2012
Profile picture for blub blub blub

You should be able to list it as a FSBO once the cancellation is signed. However, make sure that there isn't a 30, 60, or 90 day clause that states the listing agency will be due a commission if someone who previously viewed the property or had interest in the property while it was listed, comes back during the time period after the cancellation date.

Sorry Jim didn't see your post before posting mine :)

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May 31 2012

I think Ofe has it right ... but check your listing agreement. There might be a clause that protects the agent if you sell the property to someone your (prior) agent showed the property to. This protection period might be anywhere from 30 days to one year.

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May 31 2012
Check for date of release and commiment date.I would also advice you to keep working with another agent. good luck.
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May 31 2012
Immediately after you and your realtor have signed the release and the document is in your possession.  To avoid surprises read the Exclusive Buyer Agency Agreement.
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May 31 2012
 
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