For Sale By Owner Vs National Association Of Realtors

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National Association of Realtors (NAR) ongoing rhetoric with a grain of salt. $ 60 BILLION in real estate contracts paid out annually (up 19 billion form 2000)? In a nutshell and funded effort to justify their services and the astronomical contracts, they collect the average homeowner with propaganda.

Realtors would have to believe that it is totally impossible to successfully sell your own home. The reason they propagate this fallacy is painfully obvious but it is shocking how convicting them can be and how often homeowners fall prey to their ploys.

Let's put some of the most common NAR rhetoric to sleep:

FSBOs do not sell for less

FSBOs do not take longer to sell

FSBOs do not unwittingly expose them to potential thieves, rapists or murderers

FSBOs can effectively market their own property

FSBOs can effectively sell their own property

FSBOs can save thousands of dollars in agreements

Truth be known, the National Association of Realtors does some things very well. For sale by Owner marketing plan. First of all, they gather, compile and distribute. This data is gleaned from hundreds of thousands of home sales. Most, the data is not available on the internet. This data includes, but is not limited to, average number of days on market (DOM), average and medium sale prices, unit sales by region and unit sales by "Metropolitan Areas".

The NAR thus compiles statistics related to "Buyer" and "Seller" tendencies, these statistics are generated by surveys of both buyers and sellers. Some of the data speaks volumes, for instance, over 70% of home buyers in 2006 they used to buy the home. Secondly 18% of home purchasers claimed that they had purchased a FOR SALE lawn sign. Do the math – that means more than 88% of "BUYERS" have found the property they are looking for?

The second thing they do is very well market real estate; This is done through their proprietary data service – the Multiple Listing Service better known as the MLS. This real estate listing data, while proprietary, is not restricted to real estate agents, it is available to anyone who has access to the internet. Realtor.com, the consumer facing website is a by-product of the MLS, this primary marketing tool for realtors is also available to virtually anyone. For Sale by Owners can invest in Flat Fee MLS. The concept is simple – instead of the "Listing Agent" is the $ 399 – $ 699 range depending on your geographical area and level of service. The agent simply agrees to list your property on the MLS. Realtor.com (more than 70% of buyers on the Internet BEFORE they hired an agent) 350 page views. BEWARE – not all flat fee MLS is created equal – make sure you know what you are buying and that there is some level of support.

One of the biggest problems that I have ever had with real estate agents is that they have a different mandate then the typical homeowner. A real estate agent mandate is to sell "a" home and get paid their commission. The homeowners mandate is to sell their home. How often do you think a prospective buyer calls you to a property and your agent? "- sure, we'll set up an appointment – but while we were looking at that. # 39; s look at these "others" that I think you may be interested in. "Personally, I do not blame them, that's how they're doing a living – I'd do the same thing, it's called" hedging your bets ". The inherent problem is that a real estate agent can be successful without the homeowner being successful. A great example of this is "Open Houses" in my opinion they are simply a lead generation platform for the listing agent. The "visitors" come to your home, the agent takes their names and contacts them – they simply use their property and time as a hook.

I always have to defend myself, and I want to be clear, I do not hate real estate agents. They certainly perform a service that some individuals are incapable of performing. I do however have a problem with the charges that they charge and their relentless attack on FSBO's. I have always felt that it was a sign of weakness.

Bottom line, you can save thousands of dollars; Do not be swayed by the NAR and its unsubstantiated claims. Do not believe something just because you watch it on television – it is a shameless effort to protect yourself, their association and a livelihood that is under significant pressure to justify it's fees. It's not a coincidence that the US Department of Justice is currently investigating the industry for anti trust violations. Change is coming – and it wants to shake the very foundation that this association was founded. The internet has changed the way people buy and sell real estate – it's time for realtors to accept that fact and / or adjust the way of the dodo bird.

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Source by Mark Camphaug

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