Sunday, August 1, 2010

Attention Nearsighted Realtors:

An agent recently made an observation in the way of a snide remark concerning a suggestion I have in my blog "Thinking About Selling as a FSBO." She took issue with my suggestion of obtaining free information from Realtors by getting CMAs to get an idea on a price to list their home. She stated in her post that she refuses to leave pricing information behind unless they sign a listing agreement.

Below is just the way the suggestion reads and has read since the inception of my blog:

"Initially interview 3 or 4 Realtors and get CMA's to at least get an idea on price, and for future reference on an agent in case you do bail out."

Now lets go to the statistics that are thrown around on practically on a daily basis. Those being that 80% of FSBOs end up signing with an agent. Of the remaining 20%, 5% sell to a family member, or someone they know.

The 5% that sell to a family member or someone they know will probably avoid a Realtor anyway, leaving a minor 15% haircut to your chances of being called for your services in comparison to someone not considering doing a FSBO. Of those FSBO sellers that succeed that need to buy a new home and use a Realtor, wouldn't you think the FSBO would call one that was previously interviewed, or one that may have been involved with the sale of their house as a buyer agent? Of the ones interviewed, what do you think the chances are of the uncooperative Realtor being called?

It's said that the 80/20 rule applies in RE sales. That 20% of the Realtors account for 80% of the sales. Below is a copied and pasted post that an agent made on Zillow. I have a feeling this agent is in that 20%, or soon will be, at least in his market. He was giving advice to John and Lisa, who were about to do a FSBO:

"John and Lisa Good Luck to You! Get a CMA done on your home before deciding anything. I don't consider anything I do a waste of time. You may need a Realtor for your next purchase and/or refer other friends and family to your helping parties. A good Realtor is one who will sacrifice today for business in the future."

Enough said.

Now please scroll down to the videos (full screen available), but on your way down feel free to make a comment, and vote.

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