Real Estate Tips for DUFFY Sellers on How to Make The Most Money Selling Your Home
Why agents don’t come to your house with their buyers when you are a “For Sale by Owner”?
The first half of my career as a real estate professional, I was the manager of the largest “For Sale by Owner” (FSBO) franchise in the country. I worked in the Atlanta franchise. As a result, we helped thousands of people market their homes. I had a passion for that business.
In my career with that company, I met the leading Re/Max agent and was offered a partnership with her. Moreover, she handled all the listings, and I handled all of the buyers. In the course of our five year partnership, we still remained number one from our office for our area as a result of our partnership and hard work. I am proud of how nimble we were as the market changed. We never skipped a beat. In other words, we worked the market, the market did not work us.
My intent as an exclusive buyer’s agent was to show all of my old client’s homes from my other company. It never happened. Looking for properties to show my buyer, I would go to the multiple listing service and pull the listings that fit their criteria. I then mapped the listings and courtesy-called the owners to tell them when I would be showing the home.Then I went and showed the listings to my buyer client.
I did not have time to look for FSBOs before hand to see if there were any to show my client. The truth is, there were so many houses in the MLS and FMLS. My clients would almost always find something in that list to buy, and there was no need to look at other properties.
When we would run across a home that was a “For Sale by Owner” that had a sign out, we would pull over and call the home. If the owner was not home, I would leave a message and then ask them to call me as soon as they got home so that we could see the house. Sometimes the For Sale By Owner would call back.
Unfortunately, most of the time it was when we were already in another area with houses to see. Because we had already made appointments and mapped the houses to go to at that appointment time. In conclusion, rarely did we have time to go back to the “For Sale by Owner”.
And more importantly, with very few exceptions, most of my clients purchased a home they had seen from the MLS and FMLS.
The other problem that an agent faces when they are attempting to show a "For Sale by Owner," is their own client.
Many agents have not had their client sign a Buyer’s Agency Agreement. That means that the agent would get paid no matter what house their client buys. They are afraid that their client, who has legal rights not to pay the agent, will go behind their back and buy the FSBO house. Most importantly, that the buyer will not pay them for their time.
For instance, I think that the concept of “For Sale by Owners” offering “agents protected” is great. It just doesn’t work as well as listing your home in the MLS and FMLS.
Moreover, with the MLS and FMLS, an agent knows that they are going to get paid because the listing agent has a binding agreement with the seller. The commission is stated in the listing for the agent to see what it is. They know they are protected.
In conclusion, the way to make the most money selling your home is to have it seen by all buyers. Cast a wider net and catch more fish!
The Perfect Selling Strategy and How to Make the Most Money Selling Your Home
People ask me, “What is the perfect selling strategy to market my home?”
My answer, “Cover all of your bases.”
That means getting into the multiple listing services and advertise as a “For Sale by Owner.”
And most importantly, keep your costs down so that when an offer comes in, you can actually sell the home without losing your profit by paying high commissions.
So, I developed a plan that helps you do just that.
It is important to add the multiple listing service to your strategy AND stay a “For Sale by Owner.”
There are only four types of buyers in the marketplace.
Two come from agents and two look for you as a “For Sale by Owner”.
The two types of buyers that come from agents are usually first-time buyers and out-of-area re-locators.
The two types of buyers that look for you without an agent are the local house changers and the investor.
Many agents have not had their client sign a Buyer’s Agency Agreement.
That means they get paid no matter what house their client buys.
They are afraid that their client, who has legal rights not to pay the agent, will go behind their back and buy the “For Sale by Owner” house that they showed them and not pay them for their time.
I think that the concept of “For Sale by Owners” offering “agents protected” is great.
It just doesn’t work as well as listing your home in the MLS and FMLS.
With the MLS and FMLS, an agent knows that they are going to get paid because the listing agent has a binding agreement with the seller; wherein, the commission was set.
If you are marketing as a "For Sale by Owner" only, you are only attracting the first half of the buyer market.
And if you “list” with an exclusive agent agreement, you are then only attracting the other half. That’s why it is important that you have all areas of the market covered.
It makes sense that if you have your home marketed with all buyers in mind, you will find them.
With DUFFY Realty, you are able to accomplish both advertising strategies.
This allows you to “covering your bases” while saving yourself thousands.
It is really a no-brainer!
Being listed in the Multiple Listing Services (listing with an agent) has always been the #1 way to get your house sold.
That is why the term “agents protected” is often used by “For Sale by Owners” to attract agents and their buyers.
Unfortunately, the public has rarely had the option of marketing their property on their own and being listed with an agent at the same time.
Traditional agencies prohibit this type of real estate, which is called an open listing, with their “broker rules.”
I have eliminated those rules by opening my own company.
We allow you to have a profitable and innovative, yet proven way to sell your home.
Cast a wider net and catch more fish and drive the price up on your home.
This will allow you to make the most money selling your home.