By Gary Bisha
Those darn flat-fee FSBO’s. They want you to do all the work and not pay any commission, right? Well, that may not always be the case. In fact, many times these FSBO’s are good for agents and good for the industry.
Flat-Fee FSBOs – Good for Agents and Real Estate
Here is why:
1. Some of these listings may have never made it to market if the seller had to pay full commission. We all know plenty of sellers who are “underwater” on their mortgage. This at least gives some of them the ability to sell now rather than waiting. With Houston inventory at a low 4.9 months, this is a good thing, right?
2. Since these flat fee listings are listed by a broker, they are able to get pricing assistance, thus avoiding appraisal surprises. Another good thing, right?
3. Most of the time, these listings utilize CSS, minimizing any contact you may have with them.
4. Since the flat fee FSBO’s are listed by a broker, they also get contract assistance. Certainly a good thing since you don’t have to worry about the pitfalls of dual agency.
5. Being on the MLS, these listings are also willing to pay a commission for you to bring them a buyer. Bottom line is that the market is changing. Sellers have had to adapt, agents need to also. So the next time you see a “flat fee” listing, don’t shy away. These listings are a good thing.
Gary Bisha is the owner/broker of My Castle Realty, which operates throughout Houston. He can be reached at: My Castle Realty/ForSalebyOwner.com 713-683-0050 MyCastleRealty@aol.com