Selling a home For Sale by Owner (FSBO). Received a call from a Realtor two days ago and the Realtor said.
Posted on July 23rd, 2009 in FSBO - FAQ
wallace_1976 asked:
that they will be faxing an offer over that night. I didn’t receive the fax offer that night and the next morning I called the Realtor and he said that he would be sending the offer shortly. Well, two days later I still have not received the offer to Purchase my home from this Realtor?
Does this normally happen in the Real Estate World?
Should I give the Realtor another phone call to check up on the status of this offer?
I really don’t want to call again and look to desperate and get a lower offer.
Suggestions on what I should do?
This post has 14 comments
July 24th, 2009
Exactly.
Do not call him. He will call you if he is serious.
July 25th, 2009
DUDE or dudette, YOU are your own realtor–the OTHER realtor is just trying to get you to sign your house with THEM…there is no “offer”–they want you to get all juiced up thinking your house is FINALLY FREAKIN’ SOLD and…
then they HOOK YOU!
Stay strong my friend, the force is with you.
Or break down, pay their stupid and ridiculous realtor fees and associated crap and sell your house thru them.
July 26th, 2009
be patient
dont call him again, stick to your guns your doing fine
July 29th, 2009
Call the realtor and tell them you have another bid on the table and you would like to know what he wants to do…like make a higher offer. Play hardball! It’s ok to lie about it. If he says he does not want to bid on the house, then just stop calling him and let him assume (if the house does not sell for a while) that the other (fake) offer fell through.
You have to be smooth about it though. You do not need to tell him what the fake offer is or who it’s from. Just that the offer is there and you are giving him a fair warning that it will soon sell. Realtor’s are pretty slick themselves. He may be holding out; hoping that the house does not sell for awhile and he can make a lower offer.
July 30th, 2009
don’t do it!
let them come to you.
tell them you need to consider other offers as well.
if the deal is good accept. if not decline.
August 1st, 2009
It sounds like the old bait and switch. He is baiting you to call him and then claim that you “hired” him for the job of selling your property. That way, when you have a sale, he can claim that you reneged on your contract and that he is entitled to six percent of the sale, which is absolutely false.
Realtors are sometimes scummy, scummy people. Don’t fall for it. Don’t call him or leave any recorded message that can be used against you in the future. If he really has a client interested, he will definitely let you know. Make sure that you PAY NOTHING on his commission. The most he is entitled to, if he helps someone buy the property, is 3% and that will be paid by the buyer. Of course, you can use it as a bargaining chip…
Best of luck to you!
August 3rd, 2009
Yes, these things do happen. If I were you, I wouldn’t call the real estate agent again. If you do, she/he may think that you are desperate, and lowball you. Good luck!
August 5th, 2009
Ignore the realtor. He’s trying to get you to list your place with him.
If he actually does bring an offer, tell him that you are FSBO and will pay NO MORE than the usual split commission (3% – 3.5% depending upon where you are). Get that agreement IN WRITING before you look at the offer. Have your attorney review it before signing. If he’s a buyer’s agent, he won’t have a problem with this arrangement.
August 7th, 2009
Smart move. They are checking how desperate you are..
August 9th, 2009
ask my dad he would know…
August 13th, 2009
This Realtor, and i am using the term very loosely is just trying to get you to list you home with him.
Don’t fall for it.
August 15th, 2009
The realtor is trying to see how desparate you are. When he does fax the offer, wait a few days before replying.
August 18th, 2009
Did the realtor actually bring someone to look at the house? If not, then how the heck does he have an offer? If he did bring someone over, then you would know if the party was interested or not.
If he actually brought some one he is working with over to see the house and has a valid offer, then he will be in touch within 72 hours. If not he is full of bologna or he is busy trying to talk those folks into something else that is a moresure thing for his commission. I would just wait it out.
August 19th, 2009
Happens all the time.
Is selling your home yourself really the best use of your time? Real estate agents sell about 80% of real estate in this country.
There is a lot more to it than the 4 “P”s of real estate: Putting a sign in the yard, Putting an ad in the paper/internet, Putting it in the MLS, Praying that it will sell. Realtors are trained in all aspects of real estate from staging, properly placing your home in the market place, producing ad material and brochures, compliance with state & federal laws (which FSBO sellers are not exempt from, but are usually very ignorant of), pre-qualifying, matching appropriate buyers to your home and securing suitable financing.
Realtors “screen” who sees your home and know something about them before they get there, reducing the opportunity for thieft. How does- better yet how can a FSBO do all of that and maintain their full time job? Virtually impossible!
Realtors pay for themselves in that they usually secure substantially higher contract prices for the home than FSBO sellers, in turn helping maintain neighborhood values, putting more money in the seller’s pocket, and they are more likely to timely get the seller out of an investment that no longer works thereby stopping further investments in the no longer wanted investment.
A missed sale cost the entire sale, as in missed opportunities. Would you hire a surgeon with a 10% success rate? 20% of real estate is not sole by Realtors, meaning that of the 20% remaining, some are builders with in house agents, some are corporate relocation companies, and some are real FSBO. Statistics show that about 80% of sellers who start out as FSBO usually, following a failed contract or several weeks on their own end up placing their property in the hands of a Realtor. Realtors are connected and co-operate with each other, even from other real estate companies, to put sales together and reduce market time and expenses for all concerned.
There are some licensees, as in any industry that do not need to be in the business, but by far if you select a full broker with professional designations you typically will get a good one. You do get what you pay for in the business world. Pay too little and you have a potential failure situation. Pay too much and you end up short. Interview the broker you want to use and choose the best qualified broker. Brokers can own their own brokerage or manage a brokerage for another broker; affiliate or associate brokers must work under a broker and have fewer licensing requirements. Brokers have more training and usually more experience, and the brokerage fee is the same.
Get the full broker.