With the changes in the current real estate market, there are more and more “FSBOs” (for sale by owners) popping up. These sellers are selling their homes themselves for many reasons, but mostly to save paying commission to a listing agent. What these sellers don’t realize when entering into the real estate market is that there is a lot more to selling your home than doing a few showings and signing a contract.
Just this week I put one property under agreement that is being sold by owner and placed an offer on another. In four years I have not dealt with a FSBO on this level so it has been a learning experience for me. What I am learning is how emotional these sellers are and how it impedes the transaction. When you use agents to represent you, essentially there are two detached 3rd parties that are communicating (the buyer’s and seller’s agent). When not emotionally attached to the transaction, getting information and processing the transaction is smooth. When requesting information from an emotional seller, I am finding that they get defensive with me. They see me (the buyer’s agent) as a threat, not as someone simply trying to obtain the information necessary to complete the transaction.
I’m not sure if any of these owners will come out of these transactions enlightened by how hard real estate agents really work. They may just be even more annoyed by us. Actually, I am sure they will be more annoyed by us. Point is this- I am not trying to give you a hard time, I am not asking for information unnecessarily, I am just trying to get my job done.