This post will be a short one. Supper’s in the ol’ nuker-wave, and the weekly home sterilization (a.k.a. “cleaning”) is about to commence.
Just 20 minutes ago, before a nice thunderstorm decided to pour buckets on the house, I went out to check the mail. I had a letter. Actually, “we” had a letter – Pam and I. You see, the letter was addressed exactly as in the contact information in the current PropertyGuys.com house for sale listing. I’m quite certain that there isn’t any other place where our contact information would be written like this.
What was so special about this letter, you ask? Well, it was postmarked from the small town of Markdale (only about 10 minutes away from our home), and signed by Sheri Hill and Nereda Manion of Royal LePAGE RCR Realty, Brokerage based out of Flesherton. Again, this is only 10 minutes away from here. As a sidenote for those of you who are from far, far away, this is about 2 hours northwest of Toronto, Ontario, Canada and about 30-40 minutes south of Owen Sound and Collingwood.
Now, this one I know I’m not reading into. The facts prove it, Sheri and Nereda – one of you or your associates was trolling for new listings on PropertyGuys.com! No big surprise here folks. Everyone’s doing it. The private marketing firms are trolling for expired agent listings, as well as other FSBO marketing firms’ listings. The agents are looking at private sales on Kijiji, in the classifieds, and on bulletin boards everywhere.
Here’s the kicker: You sent me your standard form letter. The last paragraph reads:
“If you have any thoughts of selling, please call. We’ll be happy to provide a Free Market Analysis so you can see what your property is worth in today’s market. Only then do you need to make a decision about listing.”
Respectfully, Sheri and Nereda, we’re listed, and you already appear to know this. We’re offering both of you – as well as any other agent or regular Joe – a commission paid on closing of the sale if you think you have someone who’s interested in this great property.
For anyone that comes to us without an agent, we’re more than happy to reduce the asking price by the amount that would have been given to an agent. For those of you that come with an agent, it would only be fair to consider the agent’s cut of the sale, and split the cost. I’m sure we can work something out. Finding a compromise is what negotiating is all about.
My final thought? I would have preferred a phone call.
Hi,
Just want to say, ‘Hi’
Nice blog you have going here. I have enjoyed reading it thus far…keep it up. It’s good to right things down!
Great blog, and I applaud some of your comments for the uneducated buyer and seller.
I am a real estate salesperson and I operate an unbiased online e-magazine. I feature private sales as well as my own listings and I do it on an equal basis. Yes, the site is promoting my services, as it should, but it also offers a plethora of pages with free info on buying, selling, renovating, etc.
I think this makes me unusual and qualified to defend those agents who believe in why there is a necessity for brokerages to help people sell their homes.
In Hamilton, Ontario, there are at least 12 FSBO companies, including Propertyguys.com, privaterealestate.ca, bytheowner, and other “biggies”. They all have their own sites and all boast they get zillions of hits.
My clients tell me that when they are looking to buy a home it is simply too much trouble to go to each of those sites and look at all of the houses. Ironically, the only website that lists all the FSBOs in the area in one place is mine.
These same people tell me that the MLS is so much simpler and has a larger number of homes to view. So they always go there first. You can’t see those homes, however, unless you contact an agent. That’s organized real estate.
As you know, hiring an agent to help you buy a home is essentially free (with most of us) and in some cases you don’t even have to sign any documents (myself included). Those of us who believe we should earn our clients’ trust don’t feel a piece of paper will save us, nor should it if we’re doing a bad job for our clients.
I have shown my clients private sale homes as well as MLS listings and have found most people willing to work with me on the commission. That’s great. But the point is my clients still needed me to find that private sale because I know where and how to look quickly. They didn’t want to bother. (On a side note, they also said most of the FSBO sites are inaccurate most of the time. And that’s because once a house is sold, the owners rarely tell the FSBO company until they call asking about the home’s status.)
Why should a seller consider using an agent?
Because we are working with Buyers now and may have somebody on our list waiting for your home. I don’t check FSBO sites regularly for the same reason my clients don’t: It’s too time consuming.
People who scan FSBO sites still call their agent to set things up. Why not, it’s a free service. Most people hate the idea of negotiating with an owner. They would rather let somebody else do it, somebody who they know will get the best price and look after their interests throughout the transaction.
Is that worth 2% to a seller?
Ask the majority of private sellers who have had their homes up for sale for 3 or 4 months. Statistics still show that over 80% of people who originally list on a FSBO site eventually list on the MLS with an agent. The reason for that is exposure.
Unless your home is in the perfect location, listed at the perfect price, and at the best time of the year for your area, it won’t sell privately…at least not quickly and for close to asking price.
No private FSBO can match the exposure of the MLS. Combine that with the skill of a good agent who will target market ads for your home in places that work, and you’ll get maximum exposure quickly. If the right buyer is out there, they’ll see it, quickly.
Thanks for letting me put in my two cents worth. Feel free to reply or go to my blog reached through the e-magazine at http://www.HamiltonHomeReview.com
Robert J. Morrow, Chase Realty Inc., Ancaster ON
editor: Hamilton Home Review.com
Hi, just want to let you know that recently I have sold my house privately. I also used PropertyGuys.
Honestly, their sign in front of my house seemed to be much more useful than other things they provided. Serious buyers will drive by the area no matter what, and they will see your sign.
I like talking to realtors. I have been talking to more realtors in the past few weeks than the past years. Many are nice people, though I also met some dishonest ones.
I think realtors do provide valuable services, just that they charge too much (at least for me). Some people would need them for sure. As for me, I think I will never go back to hiring one in the rest of my life.