Who really wins when a buyer seeks out a FSBO home without the guidance of a real estate agent?
We all know the theory, a savvy seller can place a little classified ad or a free on-line listing to save thousands of dollars in real estate commissions. From the brainy buyers standpoint they are confident and capable of using all the resources to negotiate a great deal and pocket the thousands for themselves.
When I was traveling through Massachusetts last weekend a catchy jingle played on the radio quite often for I Sold My House Dot Com. As often happens I found my mind wandering while driving north to Maine and wondered how many people really believe this propaganda. I never run into any real success stories.
This post is geared towards consumers with some experience.... I'd like the truth! You can comment below and just sign the response as Buyer or Seller if you want to remain anonymous.
- Does the Savvy Seller find Success?
- Does the Brainy Buyer get a Bargain?
- Is it a Win-Win Deal for Buyer & Seller?
I have always advised my buyers that in the event they notice a FBSO that they must see let me know so I can arrange to see it with them. In Connecticut we have buyer agency agreements that deal with commissions but many FSBO's will consider covering the agents payment if it gets their home sold. The sellers realize within a few weeks that just planting a sign with an little ad doesn't bring a stampede of ready, willing & able buyers.
Since my real estate office is located in GUILFORD I decided to take a look at the offerings listed for sale on I Sold My House Dot Com. Of the four homes showing as active the two lower priced properties decided to list with a traditional Real Estate Agent and both closed in July.
The two more expensive homes are presumably still on the market. Doing a quick search revealed the house on Bluff View Drive has already had 3 owners since it was built 5 years ago. With a list price of $719,000 it is priced 10% higher than the most expensive sale on the street. Not exactly a bargain for an unsuspecting buyer.
If you are planning to buy a house along the Connecticut Shoreline there are are a variety of Homes For Sale. For a custom search just email your criteria to Dan@CummingsTeam.com or give me a call (203) 672-2455.
Sellers interested in assistance can Contact Dan Cummings - The Running Realtor for a consultation.