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.