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#77834 - 02/15/06 08:56 PM
Re: "FSBOs sell for less on average than agent-marketed properties"
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Veteran Member
Registered: 10/29/04
Posts: 794
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By far the #1 reason a buyer goes to an FSBO is because they're interested in that particular house. The idea that they might be able to save a few thousand bucks isn't a major issue for most buyers.
For example, I sell all of my houses myself. You can call me an FSBO if you want but really I'm a professional seller. I always price my houses well above the highest comparable sale and I always get it, sellers market or buyers market, it makes no difference. I have never once received an offer for less than my price.
IF you can do that for your clients, and you make it an easy and painless process to sell their home, THEN you absolutely deserve your commission.
But most agents are incapable of offering that kind of skill and service because they haven't been trained and haven't taken it upon themselves to learn. Why bother when you can quote a bunch of twisted statistics and deceive people into letting you punch a few numbers into a computer and let someone else sell the house for you?
The thing that amazes me is that after all of this, the way you treat the people you're supposed to represent, you have the audacity to complain that people hate you and your "profession" HAH!
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#77836 - 02/15/06 09:25 PM
Re: "FSBOs sell for less on average than agent-marketed properties"
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Member
Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
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The average consumer doesn't know a realtor from a real estate agent but that doesn't mean that all fsbos are any less informed than the typical agent. I've seen stats that both ways and it's entertaining at times to read them.
If you're going to pitch the realtor is better than fsbo line be prepared for the smart sellers to throw back some numbers too.
All a seller has to do is show a comparable fsbo property that has sold more or equal to that of a realtor and you basicallly lose. OTOH, if you come straight and say hey look you can sell it yourself but do you really want to?
You make money by selling convenience and hassle free. You don't make money by insulting the clients intelligence. Whether you are right or not you will not win.
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#77837 - 02/15/06 11:08 PM
Re: "FSBOs sell for less on average than agent-marketed properties"
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Veteran Member
Registered: 09/18/04
Posts: 930
Loc: Idaho Falls, ID, USA
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The comment above was insightful.
Even though I believe the data does paint a powerful picture, general patterns are not determinative with respect to a specific unrepresented seller.
While I may sincerely believe that a seller is likely to pocket less, he or she may feel otherwise based on individual experience or the efforts of neighbors.
As mentioned in the proceeding comment, the key for a real estate professional is the idea of making the process easier and more convenient.
I've told my agents that an individual moving out-of-the-area has more important things to do than sell their house. I suspect we need to emphasize that point more.
I think much of the venom in this discussion comes from two key points:
* Sellers often feel they are being personally insulted by the real estate community's general disdain for for-sale-by-owners.
* Agents hate beeing dismissed as not providing a valuable service perceiving it as trashing of their hard work.
Fundamentally, for-sale-by-owners and the real estate industry need each other. Most FSBO sellers end up listing. Many allow agents to bring buyers. And, most agents end helping for-sale-by-owner sellers into their next home or selling the home of the FSBO seller's buyer.
In the residential market, folks have options. I think we need to be respectful of their individual choices and provide assistance where we can.
A little less snideness on all sides is needed.
_________________________
Steve Taggart Broker CENTURY 21 Advantage Southeast Idaho's Real Estate Leader(sm) The GOLD Standard(sm) 400 W. Sunnyside Road Idaho Falls, ID 83402 (208) 524-2121 http://www.IFhomes.comhttp://www.IFreschool.comstaggart@ida.net
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#77838 - 02/16/06 08:31 AM
Re: "FSBOs sell for less on average than agent-marketed properties"
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Member
Registered: 07/16/04
Posts: 2899
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Originally posted by GregInAtlanta: You guys have convinced me. I will start quoting the mean as well as the standard deviation. I will throw in the variance for sport. Don't forget the T-scores. 
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#77839 - 02/16/06 06:31 PM
Re: "FSBOs sell for less on average than agent-marketed properties"
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Veteran Member
Registered: 08/17/05
Posts: 701
Loc: Birmingham, Alabama
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staggart, very well articulated, sir. Bravo!
_________________________
George W. Jackson, IV Associate Broker, SFR Keller Williams Realty "Providing A Higher Level of Professional Service"
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Registered: 09/16/05
Posts: 431
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