Can a Realtor help a buyer client purchase a For Sale By Owner (FSBO) property? You bet!
Even though some sellers might choose to limit the marketing for their homes and make sure qualified buyers will never know they are for sale, that does not eliminate my responsibility to know my market and what is available.
Sometimes I will introduce buyer clients to FSBO homes as well as homes listed in the Multiple Listing Service (MLS). In fact, I could tell you right now about three residential lots that are for sale by owner very near the Texas A&M University campus. But you’ll have to call me for more details!
When I represent a buyer, I want to make sure that my buyer has an opportunity to know about every property that is available that suits the buyer’s needs and wants. Usually, the most effective way to do that is to use the MLS as a primary resource.
However, not every seller chooses to include their home in the MLS. There can be several reasons for this. The primary reason is usually the desire to sell the property on their own without paying a sales commission. This choice can put both the seller and the buyer at a disadvantage.
Because FSBO sellers do not regularly deal with the details of home preparation, pricing, marketing, showing, buyer prequalification, negotiating, repairs and amendments, non-real property, lead-based paint, title policies, surveys, home warranties, allowances, seller’s disclosures, closings and many other important details in a real estate transaction, mistakes can be made that can later be costly. Some of the most common seller mistakes include pricing too high initially, not insisting that buyers have mortgage prequalifications, and failing to provide required seller disclosures.
Buyers who choose to work without a Realtor representing them when looking at FSBO homes run several risks. Among these include paying too much, not scheduling inspections that may reveal important property defects, not examining the preliminary title commitment, failing to obtain required seller disclosures, and not asking for a home warranty at closing.
Realtors represent buyers or sellers in every transaction in which we participate. Realtors are trusted because of the knowledge, expertise, and professionalism that we bring to real estate transactions. Realtors are not just real estate licensees. We are professionals and members of the National Association of Realtors. We have all agreed to abide by a strict Code of Ethics that governs our conduct with buyers, sellers, and among ourselves.
Before you get up from your computer and jump in your car to go look at houses, call Jason Johnston at 979-571-3553 or email JasonJ@Century21BCS.com. Whether buying or selling, let me put my years of experience and the power of the Century 21 System to work for you!