No matter how or why a home has been listed on the market, there’s one thing that every seller wants – the right buyer with the right price to walk through the door as quickly as possible.
Real estate agents use this angle by claiming they can bring the qualified buyers through the door. It’s not to say they can’t. But it also doesn’t mean you can’t do the same. Once you organize your selling tools, you have access to the same pool of buyers as an agent-represented seller.
Are There Buyers That Won’t Deal with FSBO Sellers?
On the opposite side of the market, buyers are all looking for the same thing – a house that meets all their needs which they can buy at the best possible price. Just as FSBO sellers can handle the process largely on their own, so too can the buyers.
Some buyers do choose to go it alone; but, as the majority of homes on the market are still agent-represented, there’s no reason for most buyers to do the legwork on their own. The market has been structured in such a way that buyers don’t pay their agents; the seller does.
And, generally speaking, buyers aren’t skeptical of FSBO sellers. It’s their agents that have trouble with this arrangement. Not only does the FSBO seller represent a threat to their livelihood, without an agent, but there’s also no guarantee that they’ll receive a commission for the work they put into the process.
What Can FSBO Sellers Do about It?
Sellers that choose the FSBO route should understand that it’s impossible to avoid all fees when selling a home. Along with the legal and listing aspects, FSBO sellers should plan on paying something towards the buyer’s agent. A typical commission is three percent, but FSBO sellers that offer a higher percentage will likely find that buyers’ agents will be more likely to show your home.
Interestingly, FSBO sellers don’t need to do much more than list their home on the MLS, and they’ll begin receiving calls from agents wishing to represent them. It’s the perfect opportunity for sellers to explain that plan to continue without representation, but that they’ll happily offer a commission to a buyer’s agent.
Of course, the most lucrative situation is to find an unrepresented buyer where there is no commission involved. Either way, you shouldn’t worry about bringing in the buyers yourself – as long as you remain flexible on the fees. And that means you can focus on showing your home to the right buyers.