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Monday, November 21, 2011

FSBO: If You Are Willing To Pay Me to Bring You a Buyer, Why Not List Your Viera Home For Sale?

While waiting to get a haircut a few days ago I chatted with a gentleman who was also waiting.   As I always wear my name tag (Gary L. Waters, Realtor®) when I am out and about, he asked me about the market (everyone does, easy conversation starter) and a few general questions about buying and selling homes in the Viera area.

It was not long before I realized he was a for sale by owner seller.  I rarely see them although I heard they still exist. According the the 2011 NAR Profile of Buyers and Sellers, 10% of sales last year were FSBOs.

By the way, I have offered free advice to FSBOs in Brevard County for as long as I can remember.  Just call and ask...I will help.

I know the Viera real estate market fairly well and know his neighborhood.  He indicated he would be willing to pay me a commission if I bring him a buyer.

But his price is not competitive with the others for sale in Viera and Suntree for comparable properties.  At this time I have no buyer for his home but even if I did -  not at his dream price.

I wonder why he is willing to schedule showings, walk strangers through his home, negotiate with a buyer, deal with the inspection and possible repairs, and all the other issues a seller deals with but is not willing to let any Realtor® list his property for sale.

The additional cost is not significant and I have read studies that have shown homes sold through a Realtor® sell for more than the FSBO seller.   Besides, FSBOs are only selling 10% of all homes sold and FSBOs call a Realtor® 85% of the time anyway.

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