Homes For Sell By Owner FSBOs and Buyer Brokers
Youre selling your home as a FSBO (for sale by owner) and you get annoyed when real estate brokers call you, right? Thats a reasonable response when youre doing all the work to market your property to save thousands of dollars in broker commissions. However, when a buyer broker calls, you might want to listen.
Why Listen
To understand why I say that, we need to understand the functions of listing brokers and buyer brokers. Real estate brokers can and do serve both functions, though some specialize.
Some brokers who call you are interested in listing your home. They want to market your home for you. The amount of commission charged for this service varies, but where I live, most brokers list homes for a commission of 6 percent of the sales price. When the home sells, if another brokerage firm has brought the buyer to the deal, the listing broker pays the selling broker half or 3 percent.
When youre successfully operating as a FSBO, youre getting folks to come and look at your house, or condo, or whatever, and you dont need a listing agent. However, what if youve been doing this for a while and...
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