Comments for FSBO Champs Weblog http://fsbochamps.wordpress.com Just another WordPress.com weblog Fri, 03 Jul 2009 11:08:41 +0000 http://wordpress.com/ hourly 1 Comment on Increases In Home Sales & Prices of Homes Explains An Influx of Realtors In Certain Regions by Jenny http://fsbochamps.wordpress.com/2009/06/29/increases-in-home-sales-prices-of-homes-explains-an-influx-of-realtors-in-certain-regions/#comment-25 Jenny Fri, 03 Jul 2009 11:08:41 +0000 http://fsbochamps.wordpress.com/?p=23#comment-25 We could only hope for the best. But during times like this we should do our best to widen our resources and knowledge on how to make money in this real estate industry. I found a <a href="http://www.coachingbypeter.com?a_aid=ron" rel="nofollow">real estate coach</a> who might be able to help. We could only hope for the best. But during times like this we should do our best to widen our resources and knowledge on how to make money in this real estate industry. I found a real estate coach who might be able to help.

]]> Comment on Increases In Home Sales & Prices of Homes Explains An Influx of Realtors In Certain Regions by Increases In Home Sales & Prices of Homes Explains An Influx of Realtors In Certain Regions · Real-Estate-Investing.ExplainedOnline.Net http://fsbochamps.wordpress.com/2009/06/29/increases-in-home-sales-prices-of-homes-explains-an-influx-of-realtors-in-certain-regions/#comment-23 Increases In Home Sales & Prices of Homes Explains An Influx of Realtors In Certain Regions · Real-Estate-Investing.ExplainedOnline.Net Mon, 29 Jun 2009 22:32:27 +0000 http://fsbochamps.wordpress.com/?p=23#comment-23 [...] Original post by fsbojoe [...] [...] Original post by fsbojoe [...]

]]> Comment on Is real estate starting to bounce back? by Is real estate starting to bounce back? · Real-Estate-Investing.ExplainedOnline.Net http://fsbochamps.wordpress.com/2009/06/22/is-real-estate-starting-to-bounce-back/#comment-21 Is real estate starting to bounce back? · Real-Estate-Investing.ExplainedOnline.Net Mon, 22 Jun 2009 18:40:57 +0000 http://fsbochamps.wordpress.com/?p=20#comment-21 [...] Original post by fsbojoe [...] [...] Original post by fsbojoe [...]

]]> Comment on The FSBO World by Chris http://fsbochamps.wordpress.com/2008/08/04/the-fsbo-world/#comment-14 Chris Tue, 07 Oct 2008 16:43:20 +0000 http://fsbochamps.wordpress.com/?p=3#comment-14 Of the number of homes sold last year nationwide, howmany were done FSBO as compared to with a Realtor? I would also ask, how many homes were orginally listed FSBO and finally went with an agent? Show me an agent that is excited to show a FSBO? It is reasonable to assume that agents shy away from showing them to a client because they now are asking the buyer to pay them rather than the seller. Not to mention that agents look at FSBO as an insult and try not to sell them. (Oh yeah, if ya didn't know that, now you do) I don't go to your office and tell you I can do your job better. I would ask you for the same respect. If you have a qualified agent; Someone who you feel is good at what they do (you must if you signed an agency), then is it reasonable to assume they can do the whole process better than you? An agent is not there to sell your home for more. Instead they are there to sell your home quicker, and more efficiently than you can and to provide a service to you. You are buying a service. Do you pay into the Recovery Fund? Are you protected from issues with the title? Numerous questions like this should arise. If you don't know what I am asking, then you obviously need an agent. It is too easy to think you can sell a home on your own. The truth is, it is no tlike selling a watch on Ebay. Would you (if you are not a trained mechanic) open the hood of your car and take it apart? No! If you are not trained, maybe let someone who is, do the work for you. Of the number of homes sold last year nationwide, howmany were done FSBO as compared to with a Realtor?

I would also ask, how many homes were orginally listed FSBO and finally went with an agent?

Show me an agent that is excited to show a FSBO? It is reasonable to assume that agents shy away from showing them to a client because they now are asking the buyer to pay them rather than the seller.

Not to mention that agents look at FSBO as an insult and try not to sell them. (Oh yeah, if ya didn’t know that, now you do)

I don’t go to your office and tell you I can do your job better. I would ask you for the same respect. If you have a qualified agent; Someone who you feel is good at what they do (you must if you signed an agency), then is it reasonable to assume they can do the whole process better than you?

An agent is not there to sell your home for more. Instead they are there to sell your home quicker, and more efficiently than you can and to provide a service to you. You are buying a service.

Do you pay into the Recovery Fund? Are you protected from issues with the title? Numerous questions like this should arise. If you don’t know what I am asking, then you obviously need an agent. It is too easy to think you can sell a home on your own. The truth is, it is no tlike selling a watch on Ebay.

Would you (if you are not a trained mechanic) open the hood of your car and take it apart? No! If you are not trained, maybe let someone who is, do the work for you.

]]> Comment on The FSBO World by Gib http://fsbochamps.wordpress.com/2008/08/04/the-fsbo-world/#comment-12 Gib Wed, 27 Aug 2008 22:11:25 +0000 http://fsbochamps.wordpress.com/?p=3#comment-12 This all still leaves the question about the original (dubious) statistic. Yes, perhaps the average "sold price" of a FSBO is 12-24% below the average "sold price" of a realtor sold home. But that may be simply because the VALUE of the average FSBO sold home is 12-24% less than the average realtor sold home. The stat is meaningless unless the issue is addressed and it is "criminally" negligent to tell folks this stat without clarification - It may be a lie! - Can anyone clear this up? - if it's really true (if the study that uses this stat had taken relative value into account then the figure IS valid and deserves to be told to all FSBOs). If it hadn't - then realtors are just using smoke and mirrors to bamboozle FSBOs into listing with them ---Don't people already hold realtors in low enough esteem? Come on folks - who's got the answer? the original writer? What say you - FSBOchamps? Gib This all still leaves the question about the original (dubious) statistic. Yes, perhaps the average “sold price” of a FSBO is 12-24% below the average “sold price” of a realtor sold home. But that may be simply because the VALUE of the average FSBO sold home is 12-24% less than the average realtor sold home. The stat is meaningless unless the issue is addressed and it is “criminally” negligent to tell folks this stat without clarification – It may be a lie! – Can anyone clear this up? – if it’s really true (if the study that uses this stat had taken relative value into account then the figure IS valid and deserves to be told to all FSBOs). If it hadn’t – then realtors are just using smoke and mirrors to bamboozle FSBOs into listing with them —Don’t people already hold realtors in low enough esteem?
Come on folks – who’s got the answer? the original writer? What say you – FSBOchamps?
Gib

]]> Comment on The FSBO World by Lorraine http://fsbochamps.wordpress.com/2008/08/04/the-fsbo-world/#comment-9 Lorraine Sat, 16 Aug 2008 13:26:45 +0000 http://fsbochamps.wordpress.com/?p=3#comment-9 On the discussion of FSBO I have found that many of them sell via the menu driven agent, that will put the listing into the MLS without providing additional service, and truthfully --- if price right they do have success. So, when the NAR quotes data like 84% use an agent, I wonder how much of that number includes just insertion into the MLS. With no other assisstance from the agent? On the discussion of FSBO I have found that many of them sell via the menu driven agent, that will put the listing into the MLS without providing additional service, and truthfully — if price right they do have success. So, when the NAR quotes data like 84% use an agent, I wonder how much of that number includes just insertion into the MLS. With no other assisstance from the agent?

]]> Comment on The FSBO World by fsbochamps http://fsbochamps.wordpress.com/2008/08/04/the-fsbo-world/#comment-8 fsbochamps Thu, 14 Aug 2008 17:34:18 +0000 http://fsbochamps.wordpress.com/?p=3#comment-8 Hi Aaron. You ask a good question regarding how to make the most of FSBOs if you are a loan officer. I have a few ideas and have included the my thoughts in a new post called Loan Officers Profit by Working with FSBOs. Hi Aaron. You ask a good question regarding how to make the most of FSBOs if you are a loan officer. I have a few ideas and have included the my thoughts in a new post called Loan Officers Profit by Working with FSBOs.

]]> Comment on The FSBO World by Gib Gibson http://fsbochamps.wordpress.com/2008/08/04/the-fsbo-world/#comment-7 Gib Gibson Wed, 13 Aug 2008 15:46:46 +0000 http://fsbochamps.wordpress.com/?p=3#comment-7 Please read this...."We calculated profit as "average selling price-average purchase price". On the resale side, both FSBO and Real Estate Sellers made a lot of money $76,800 FSBO vs $72,300 Real Estate Agents in gross profit. The most important finding here is that FSBO Sellers made 6% more gross profit on their homes than sellers who used a Real Estate Agent." "This shows that people who sell their home on their own do, in fact, make more money than people who use a Real Estate Agent. This is gross profit and does not include Real Estate Agent fees. So, if you factor in the average of 6% Real Estate Agent fess that would reduce the profit for those who sold with a Real Estate Agent to 42% or $59,400. This data shows that FSBO's actually made 29% more in total on the sale of their home than those who use Real Estate Agents." Gross Profit: FSBO 59% ...Agent 42% "Selling your home on your own and making more money has been a common myth for years. This data proves that FSBO's actually make 29% more in total on the sale of their home than those who use Real Estate Agents." Now it seems to me that the study that YOU mention tells us that realtors take listings that are of higher value (on average) than the average FSBO. That's all you can say. THIS study seems to say that given whatever the value of the home might be... FSBOs fair better. What's the truth! I mean it - the truth! Are there any figures that actually show that a realtor listed and sold home is likely to be sold for more money than a FSBO sold home????? If so can you lead me to it. Otherwise using the figures that YOU use - it would be a lie to imply to a FSBO/potential listing that they would get more money for their home by using a realtor. Now, I know that it seems like common sense that it would be true - but is there any PROOF? Otherwise I won't say it - and YOU shouldn't either. Realtors are held to a higher standard! Please read this….”We calculated profit as “average selling price-average purchase price”. On the resale side, both FSBO and Real Estate Sellers made a lot of money $76,800 FSBO vs $72,300 Real Estate Agents in gross profit. The most important finding here is that FSBO Sellers made 6% more gross profit on their homes than sellers who used a Real Estate Agent.”

“This shows that people who sell their home on their own do, in fact, make more money than people who use a Real Estate Agent. This is gross profit and does not include Real Estate Agent fees. So, if you factor in the average of 6% Real Estate Agent fess that would reduce the profit for those who sold with a Real Estate Agent to 42% or $59,400. This data shows that FSBO’s actually made 29% more in total on the sale of their home than those who use Real Estate Agents.”

Gross Profit: FSBO 59% …Agent 42%

“Selling your home on your own and making more money has been a common myth for years. This data proves that FSBO’s actually make 29% more in total on the sale of their home than those who use Real Estate Agents.”

Now it seems to me that the study that YOU mention tells us that realtors take listings that are of higher value (on average) than the average FSBO. That’s all you can say. THIS study seems to say that given whatever the value of the home might be… FSBOs fair better.
What’s the truth! I mean it – the truth! Are there any figures that actually show that a realtor listed and sold home is likely to be sold for more money than a FSBO sold home?????
If so can you lead me to it.
Otherwise using the figures that YOU use – it would be a lie to imply to a FSBO/potential listing that they would get more money for their home by using a realtor. Now, I know that it seems like common sense that it would be true – but is there any PROOF? Otherwise I won’t say it – and YOU shouldn’t either. Realtors are held to a higher standard!

]]> Comment on The FSBO World by aaron, of course http://fsbochamps.wordpress.com/2008/08/04/the-fsbo-world/#comment-6 aaron, of course Wed, 13 Aug 2008 14:34:53 +0000 http://fsbochamps.wordpress.com/?p=3#comment-6 I think that, anecdotally, it certainlt seems true that FSBO properties sell for less on average than those listed with a realtor, but the really amazing stat is that 84% of FSBOs end up listing with a realtor. I'd also be curious if there's a stat that shows how many of those FSBO sellers used a realtor when they bought. I work on the mortgage side. What are your thoughts on a mortgage pro using FSBO relationships to aquire buyers and sellers to refer to realtors? Blog on! I think that, anecdotally, it certainlt seems true that FSBO properties sell for less on average than those listed with a realtor, but the really amazing stat is that 84% of FSBOs end up listing with a realtor. I’d also be curious if there’s a stat that shows how many of those FSBO sellers used a realtor when they bought.

I work on the mortgage side. What are your thoughts on a mortgage pro using FSBO relationships to aquire buyers and sellers to refer to realtors?

Blog on!

]]> Comment on The FSBO World by fsbochamps http://fsbochamps.wordpress.com/2008/08/04/the-fsbo-world/#comment-5 fsbochamps Mon, 11 Aug 2008 22:34:37 +0000 http://fsbochamps.wordpress.com/?p=3#comment-5 The stats I use come from reports found on Realtor.org. The report titled: "The Facts about FSBO's" written in 2006 actually states: "Homes sold with the help of a real estate professional in 2006 sold on average for 32 percent more than FSBO sales. The median FSBO selling price in 2006 was $187,200, compared with $247,000 for agent-assisted transactions." I know that stats should not be taken at face value and many factors should be considered when analyzing statistics like where the stat came from and when it was published. I believe two points can be derived from this statistic: first, if FSBO properties are being sold for less than listed properties on average then investors should be able to find good deals and second, an agent can show the propery owner that she will actually end up pocketing more money by working with a real estate agent than trying to sell on her own. The stats I use come from reports found on Realtor.org. The report titled: “The Facts about FSBO’s” written in 2006 actually states: “Homes sold with the help of a real estate professional in 2006 sold on average for 32 percent more than FSBO sales. The median FSBO selling price in 2006 was $187,200, compared with $247,000 for agent-assisted transactions.”

I know that stats should not be taken at face value and many factors should be considered when analyzing statistics like where the stat came from and when it was published. I believe two points can be derived from this statistic: first, if FSBO properties are being sold for less than listed properties on average then investors should be able to find good deals and second, an agent can show the propery owner that she will actually end up pocketing more money by working with a real estate agent than trying to sell on her own.

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