Chaos in the Real Estate Industry Right Now May Bring You a Good Time to FSBO!
Don’t be afraid!
I have been a broker forty years, I’m at mlsDon.com, and this is about the worst time I’ve seen in some time for buying and selling homes.
Buying and selling homes
I was at one of my doctor’s offices yesterday, and, of course, now that he knows what I do for a living, he was chatting about when he bought his house and when his son bought his own house. He described some of what went on while these transactions happened, and I didn’t say anything at the time, because it probably would have made him feel bad. But the things that whatever agent he had been dealing with were a little shady, whether or not it was purposeful or just because of being new.
That’s not the cause of the current chaos, though. Traditionally, in real estate, when listed in an MLS, the seller pledges a certain amount to the listing agent to successfully sell their house.
That listing agent then promises a certain amount of that money pledged to him to a buyer’s agent if one was involved.
I learned, way back in my licensing days, that agents never talk money with other agents from other companies, because we did not want to break any anti-trust laws AND everything was always negotiable anyway.
Fast forward to last month.
Someone sued someone else. (Names are not important here.)
It was legally handed down that listing brokers were no longer to pay selling brokers a part of their commission, and they had to stop signifying so in the MLS, and in fact, had to have an agreement signed by the buyer to work with them exclusively.
Unless the situation called for the buyer to look at a house through another agent, then they all had to sign an “Oops, I’m looking at this house through another agent” agreement.
Anyway, buyers’ agents are having to learn new paperwork, listing agents are having to learn new behaviors, and in some cases, some buyers are feeling lost in by the process shuffle.
Process shuffle
But you know what? This doesn’t really apply if you are selling your own home FOR-SALE-BY-OWNER .
My business is putting FSBOs in the MLS (mlsDon.com) to achieve that exposure for a LOT LESS MONEY than you would have been paying. I can’t legally help you sell it, but I can tell you how, and help you know thE process. You will still have to do it yourself. and decide what you are going to do with the tens of thousands of dollars you could be saving!
Photo by Binyamin Mellish: https://www.pexels.com/photo/house-lights-turned-on-106399/
October 4, 2024 Posted by Don Martin ANNOUNCEMENTS/HAPPENING NOW, FSBO help, SELL YOUR OWN HOME BY OWNER