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#142056 - 05/21/07 02:27 PM Re: FSBO wants to blame the Realtors in our area for n [Re: pikes peak]
broker Offline
Major Contributor

Registered: 08/16/04
Posts: 1979
Loc: Cary, NC
"There is no duty to show ALL homes that might seem to fit someone's criteria."

Some folks here might want to reintroduce themselves to the difference between the law of agency ....and the COE... the later of which is voluntary and has (almost) nothing to do with law.
_________________________
the real estate industry is changing...

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#142057 - 05/21/07 02:27 PM Re: FSBO wants to blame the Realtors in our area for n [Re: pikes peak]
realestatefla1 Offline
Veteran Member

Registered: 11/10/05
Posts: 1038
Loc: Florida
Pike,
We use a Limited Rep agreement in our area, and it`s clearly stated on the MLS as L/R.
All showing calls,contracts etc are handled by the sellers.

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#142060 - 05/21/07 02:35 PM Re: FSBO wants to blame the Realtors in our area for n [Re: realestatefla1]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8472
Loc: georgia
Even if the the fsbo uses a flat fee service to put on the mls 3 things happen.Agents avoid these like the plaugue.1.The listing agent could care less about anyone else they are trying to get buyers to sell that listing or sell them something else because they don't make any money off of listing it 2. Agents know the listing agent will be really hard to impossible to get ahold of because of limited service,knowing this the agents avoid thes eproperties at all cost 3.A common ploy of these mls listers is for them to say they couldn't sell it and refer it off to a full service company for a fee.

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#142061 - 05/21/07 02:38 PM Re: FSBO wants to blame the Realtors in our area for n [Re: super realtor]
pikes peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2743
Loc: CO
Scott D.
Check PM
Thanks

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#142065 - 05/21/07 02:52 PM Re: FSBO wants to blame the Realtors in our area for n [Re: pikes peak]
pikes peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2743
Loc: CO
"Some folks here might want to reintroduce themselves to the difference between the law of agency ....and the COE... the later of which is voluntary and has (almost) nothing to do with law."
The COE is not voluntary for REALTORS® (when becoming a REALTOR®, we voluntarily agree to abide by the COE) and the laws in my state are closely linked to the COE, if there is a conflict between the two, the law must take precedence.


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#142067 - 05/21/07 03:00 PM Re: FSBO wants to blame the Realtors in our area for n [Re: pikes peak]
Loan Diva Offline
Veteran Member

Registered: 12/17/06
Posts: 648
Loc: SoCal
Each local board also has it's own set of rules. That's what I mean by all real estate is local.
_________________________
The Loan Diva

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#142068 - 05/21/07 03:03 PM Re: FSBO wants to blame the Realtors in our area for n [Re: ericka]
Agent 007 Offline
Major Contributor

Registered: 02/05/05
Posts: 2713
Loc: Las Vegas
 Originally Posted By: ericka
 Originally Posted By: Agent 007
Loan Diva,

It is not unethical to show FSBO's last after everything else. It is also not unethical to not show FSBO's at all! I am not required to show a FSBO to a buyer. I am not required to show any home I don't want to show to a buyer. If I were required to show EVERY home that fits my buyer's needs, I would be showing way more homes than I do. FSBO sellers can take a hike if they think that I am going to hunt down buyers for them without holding the listing. I don't work for free or "half-price".

NAR statistics say that sellers net an average of 16% more money when listed with a Realtor as opposed to selling by FSBO. I would share that with any FSBO seller. I would also tell them that when buyers are remotely interested in a FSBO home, they will be more likely to lowball the property because they know the seller is trying to save the money that would have been paid to a Realtor anyway. So there goes all their big savings now to the buyer instead with a much lower net amount.



that just doesn't make sense. as a buyer, why would I care about the seller's arrangements? I am going to offer what I am willing to pay or what I perceive the market value to be, regardless.


It doesn't make sense? As a buyer, are you not looking to get the best deal possible? If you notice, many investors go after buying FSBO's. This is because they know that the seller is trying to save the commission that they would have to pay a listing agent and now they are trying to obtain the same price for their home. Well, wouldn't it make sense to squeeze out the commission amounts from a seller off the price if you can. This makes very much sense to most people.
_________________________
Len McGuirk
Prudential Americana Group
Direct: (702) 203-6688
Las Vegas Real Estate

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#142069 - 05/21/07 03:04 PM Re: FSBO wants to blame the Realtors in our area for n [Re: Loan Diva]
Agent 007 Offline
Major Contributor

Registered: 02/05/05
Posts: 2713
Loc: Las Vegas
 Originally Posted By: Loan Diva
Each local board also has it's own set of rules. That's what I mean by all real estate is local.


The NAR is who sets the COE. They are not local.
_________________________
Len McGuirk
Prudential Americana Group
Direct: (702) 203-6688
Las Vegas Real Estate

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#142074 - 05/21/07 03:22 PM Re: FSBO wants to blame the Realtors in our area for n [Re: Agent 007]
Loan Diva Offline
Veteran Member

Registered: 12/17/06
Posts: 648
Loc: SoCal
I understand who NAR is & what a COE is, good grief.

A COE is a model set of standards.

Each board has it's own rules as well.
_________________________
The Loan Diva

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#142079 - 05/21/07 03:47 PM Re: FSBO wants to blame the Realtors in our area for n [Re: Loan Diva]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7685
Loc: PA
"Good grief" - you're the one who said it was unethical.

Can you blame people for assuming you were talking about the....Code of Ethics?

Furthermore, you are the one who misinterpreted what Mr. Foreclosure said in the first place. He didn't say he wouldn't show other properties, but that he showed his first before others. That is against your MLS rules - to show your own listings first? He didn't say he wouldn't show the other listings, just that he would show them after his own.

"Good grief" indeed.

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#142126 - 05/21/07 08:27 PM Re: FSBO wants to blame the Realtors in our area for n [Re: D_M_S]
JoeyBagadonuts Offline
Veteran Member

Registered: 06/24/06
Posts: 1074
Loc: Bucks County PA
 Originally Posted By: D_M_S
I'm with Diva on this one - not showing your buyer _all_ homes that fit their criteria would definitely violate the COE of my local board. After all, "know your market", should go beyond doing a search on the MLS - FSBOs, for better or worse, are still part of your market.


The phrase "know your market" does go beyond doing an MLS search....you are referring to listings. I dont need to know who is FSBO. It is not against COE. I only show homes listed in the MLS. Do you have plenty of time to know about all the FSBO in the area? I dont and i dont care to. FSBO are a pain in the [censored], and just like a client or potential customer who could be a pain in the [censored], I choose not to deal with them. If I choose not to deal with some who wants me to list their home, but I feel they are going to be a pain in the [censored] and waste my time, am I violating the COE? nope.
_________________________
Joseph Grabowski, REALTOR®
Keller Williams Preferred Real Estate – Yardley, PA
Buying or selling a home, land, or real estate in Bucks County Pennsylvania?
Visit my Bucks County Homes & Real Estate Website

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#142167 - 05/21/07 10:53 PM Re: FSBO wants to blame the Realtors in our area for n [Re: JoeyBagadonuts]
pikes peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2743
Loc: CO
Joseph Grabowski, REALTOR®
Keller Williams Preferred Real Estate – Yardley, PA
I HOPE YOU RE-CONSIDER YOUR STATEMENT.

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#142170 - 05/21/07 11:08 PM Re: FSBO wants to blame the Realtors in our area for n [Re: pikes peak]
Kep Offline
Member

Registered: 02/15/07
Posts: 263
 Originally Posted By: pikes peak
Joseph Grabowski, REALTOR®
Keller Williams Preferred Real Estate – Yardley, PA
I HOPE YOU RE-CONSIDER YOUR STATEMENT.


That has to be the funniest post ever! And that's the reason why I don't advertise my name and website.

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#142171 - 05/21/07 11:15 PM Re: FSBO wants to blame the Realtors in our area for n [Re: Kep]
Jeffo Offline
Veteran Member

Registered: 12/14/06
Posts: 873
Loc: Eugene, Oregon
I'll show FSBO if they seem like a fit, but man... they are ALWAYS a pain. ALWAYS. Seems like they all tended to buy that way, without a Realtor®, and didn't do their proper inspections yada yada yada and now they are trying to pass off a flawed home on someone else who isn't doing their due diligence.

They also seem to be universally priced wrong in this market.

Mostly, though, how exactly is it I'm supposed to even know about them? I'll stop in and say hi if I notice one, but they are usually unfriendly to me, the evil Real Estate Agent, and most of them around here are militant about NO COMMISSION! That, coupled with "optimistic" pricing, means that if my buyers have to pay me my commish, then it's just WAY over market.

So I don't go out of my way to keep track of FSBO's. I might if there was a convenient way to do so- but there isn't. And it's enough of a job staying on top of the MLS. I'm learning a new area right now, as homework, and that's plenty to keep a young man busy.

If a client asks me to help them with one I'm always game, of course.

-jeff
_________________________
(541) 285-5492

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#142197 - 05/22/07 03:10 AM Re: FSBO wants to blame the Realtors in our area for n [Re: pikes peak]
JoeyBagadonuts Offline
Veteran Member

Registered: 06/24/06
Posts: 1074
Loc: Bucks County PA
 Originally Posted By: pikes peak
Joseph Grabowski, REALTOR®
Keller Williams Preferred Real Estate – Yardley, PA
I HOPE YOU RE-CONSIDER YOUR STATEMENT.


What part of my statement are you referring too?
_________________________
Joseph Grabowski, REALTOR®
Keller Williams Preferred Real Estate – Yardley, PA
Buying or selling a home, land, or real estate in Bucks County Pennsylvania?
Visit my Bucks County Homes & Real Estate Website

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