10.01.2008 00:00 - category: FSBO: FSBO
By Rhonda Duffy
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10.01.2008 00:00 - category: FSBO: FSBO
When Being A For Sale By Owner Matters By Rhonda Duffy
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Every home that is for sale should be a for sale by owner. All homeowners should take the opportunity to market their home to friends and family, co-workers and social acquaintances. Many homes are sold the old-fashioned way, networking. But the traditional agent system has not promoted this side of networking. The high price of commissions have left homeowners thinking that the agent should be handling all of those responsibilities including doing plenty of networking, because frankly, in most situations, the homeowner is not rewarded when they find their own buyer, they still pay the full commission to their agent that they negotiated or the commission that is stated by the broker that owns the company.
Agent's structures for most brokerages are that the seller pays a full commission when any buyer is procured. It does not matter where the buyer came from; the seller pays the full commission. So, without the incentive of a reduced commission and the fact that the commissions are higher than ever because property values have increased, less energy is actually focused on selling the home. The seller hands the transaction to the agent and the agent does not focus on every buyer in the market.
Every homeowner should send pictures and video to their friends and family announcing and then reminding everyone that they know that their house is for sale. Many times because there is a respect between the homeowner and the friend or acquaintance, the friend will recommend the house to someone they know. They may say "I know Joe and Sally very well and they really take care of their home."
Also, there are buyers around the country who search for sale by owner properties first before they search properties listed by agents because they are looking for a great deal. Sometimes it is not even a great deal that they want; they just don't want to have the commission added to the price of the house, which is what happens in most cases. Most sellers are willing to reduce the price of the house if they are not paying concessions like commission.
So why aren't more brokerages flexible in their commission by allowing the seller to pay less money in commission if they pay find their own buyer. When homeowners focus on selling their home while using tools and expertise that they don't have access to like the MLS and experience of doing more than a few contracts that many agents offer, they win by getting their home sold quicker.
Rhonda Duffy is the #1 agent in Georgia according to the MLS and ranked in the top 10 according to Realtor.com. Rhonda has hosted a consumer real estate radio show on 640 WGST every Sunday morning at 9 for the last 3 years. She is considered a real estate expert and has appeared on NBC, ABC, CBS, Fox and CNN when a real estate question needs to be answered. Rhonda carries around 1000 listings at a time and closes over 2,000 resale homes per year. She is 92% referred and offers both a competitive listing commission and a buyer incentive. Rhonda has licensed her business model to 54 cities and also owns another coaching company with the #2 agent in Atlanta wherein she coaches agents across the country to a new approach to real estate. You can find Rhonda at her office Monday through Friday at 678-366-7846 or check out her website at http://www.DuffyRealtyofAtlanta.com
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