Personal Finance (Not Investing) • New rules and doing a for sale by owner- what’s the best way to do it?

Probably won’t get many agents showing your house. It’s going to take a while for buyers to get used to paying their agents. Meanwhile, other sellers (your competitors) who are offering 2% or 3% will get all the showings.

I feel like the proportion of home buyers who don’t have Zillow/redfin notifications setup must be negligible by now. As long as the house is on those websites, surely it will be seen by numerous buyers, even if it is not in the agent’s best interest.

Is the seller going to take calls from random people and personally show them the property or let them walk through unescorted?

What the seller does is irrelevant to my comment. A real estate agent is legally obliged to show houses regardless of sellers’ terms on commission, so if a buyer tells their agent to show them the house the buyer gets a notification for from Zillow/Redfin, then the agent has to show the house.

Buyer will have a choice between: Houses A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, and X (seller pays buyer's agent fee) and House Z (buyer pays buyer's agent fee). Which choice do you think the buyer will make? Of course, you can lower the price to neutralize the difference, but then you are basically doing all the work yourself without getting the benefits that an agent would otherwise provide.

I think most buyers would only dream of having 26 choices. Obviously, if a seller is in such a lopsided buyers’ market, then the seller will earn less. But in such a market with 26 acceptable choices, the FSBO houses will be cheaper since the market is so competitive. The FSBO seller has lower costs to sell than the seller who has to pay an agent.

Statistics: Posted by OrangeKiwi — Tue Aug 13, 2024 12:22 pm — Replies 18 — Views 1030

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