Using a Real Estate Agent as a For Sale by Owner
Sell real estate privately through the no agents sale, for sale by owner ( FSBO ) private property sale website Privatepoint.
It is still possible for a real estate owner to perform a private real estate sale as a for sale by owner and engage the services of real estate agent. This is what is known as an agent assisted real estate sale and involves the for sale by owner and real estate agent sharing in the duties of a property sale.
Not many traditional real estate agents use this method as it results in less commission for the real estate agent because the for sale by owner performs most of the tasks involved with the sale of the property. However, some real estate agents are embracing this trend and are offering reduced commission in return for the for sale by owner performing tasks associated with the sale.
One such real estate agent which offers an agent assisted service in conjunction with its full agent service is Vode Property who perform all the services a traditional real estate agent would but allows the property owner to show interested parties their property and perform negotiations with interested parties.
I think more and more real estate agents like Vode Property will appear allowing a combination of for sale by owner and real estate agent assisted sales.
Comments
This method of sale makes perfect sense for a property owner as they can perform those parts of a sale they feel comfortable with. But as you say you would need real estate agents to agree to it and this isn’t likley to happen!
Luke Randall
03.11.08
9:21 am
WHy would agents agree to such an arrangement?
You need to remember that many property owners are incompetent and would struggle to sell candy to a kid. You asking a real estate agent to partner with these property owners and jointly sell the property. An agent will do their job correctly but how do they know the property owner would do theres?
THis method of selling will never work as agents won’t agree to it……and i don’t blame them!
T-Bone
03.11.08
12:24 pm
Perhaps not all agents will agree to it but the smaller agents who are struggling will. It can be a 50:50 arrangement where half the commission is paid upfront and the other of the commission is paid once the property is sold.
This way the agent is only waiting on half the fees.
Jemma
04.11.08
6:45 am
You might get crappy agents who do it like that but the majority won’t they will charge a small marketing fee upfront and then the full commission on the sale.
Also, you are forgetting that property owners will want a reduction in commission because they are involved with the sale. Real estate agents don’t want this, they are trying to protect their high commissions and negotiating agent assisted services with property owners won’t help this cause. You will never see any franchise real estate agency entering into fixed or low commission fees.
T-Bone
04.11.08
10:30 am
This is the most sensible idea I have heard in a long time. Coming from Europe where this custom works extremely well, I feel it should be done here. Of course the Agents would “scream” that their commission is too little> You do not realize that in Europe the Agents only used to take 5% and we used to get a tel call and were advised when a prospective customer would like to look at your place and was it convenient?
It would not seem a lot but, when you think of it, what does an Agent really do except for the paper work????? He or She will go around the house to show it but does not know the first thing about you house really, you and you only, know your property and all the works, inside out.
It is about time that this custom starts here too, and it might be easier on the seller’s pocket instead of dreading the thousands of $s gone to the agent and never recovered!!!!!!
Jackie
06.11.08
5:59 pm
As long as a couple of agents operate like this then they provide an option for property owners which is something they don’t currently offer. The internet is changing real estate sales and the way agents need to operate.
Jemma
06.11.08
11:45 pm
At http://www.vode.com.au we offer a number of services. One of our products allows us to share real estate commission with property owners.
As a property owner you perform part of the work and we perform the rest of it. We look at ourselves as being the organisers and resource providers while the property owner does some of the hands on work.
This method of selling isn’t for everyone and requires a proactive and motivated property owner. If you are one of these “Motivated Vendors” then give us a call so we can run through our service.
Rhino
08.11.08
11:19 am