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weedyacres

Realtor selling FSBO

6 years ago

A realtor down the street is selling their house FSBO. Sign says "FSBO, realtor-owned."


Wouldn't this cause the rest of the local industry to blackball them for not playing in their own system?

Comments (8)

  • 6 years ago

    A licensed realtor may not be an active agent. Also, in some states, lenders and appraisers may be required to be licensed realtors. BTW. "Realtor" is a copyright term used by members of the national/state associations. You can be a licensed real estate agent or broker without being a realtor.

  • 6 years ago
    last modified: 6 years ago

    The Realtor is required to disclose their ownership interest right up front so the "Realtor-owed" does that effectively for the drive-by's and showings. Presumably the other marketing material contains a similar disclosure.

    As to blackballing the owner/agent for not using the Realtor system? Not necessarily. This FSBO will be subjected to the tons of phone calls and mailings and contacts by active real estate agents to list the property just as a non-Realtor owned FSBO property.

    As sushipup1 mentioned, it's a good possibility that this Realtor is no longer active in the business. There are many with licenses that don't actually work the business at all. They are still required to disclose their Realtor status when they own the property.

  • 6 years ago

    This is done all the time here in the MD suburbs of DC.

    You think there is a requirement to use MLS because you are a Realtor? Would it be OK for she or he to purchase FSBO?

  • 6 years ago

    This is a very active realtor/agent/broker.

    For the record, I've got no problem with anyone selling FSBO (my opinions are actually that the commission system is outdated, expensive, and problematic). I would just expect that an agent would play in the system that they tout for being so beneficial for buyers and sellers.

    It seems that an agent selling outside the MLS sends the (correct, IMO) message, that the current system is outdated, expensive, and problematic.

    And really, other agents will call them up and try to get the listing? Why would the seller agree to that if they can list it themselves?

  • PRO
    6 years ago

    A realtor in a nearby office bought a house on my street a couple of years ago. He added a 2nd story and then sold it through his office, with himself as the listing agent. I guess it's allowed in KY as this is a Sotheby's affiliate and I don't think they would allow anything shady.

  • 6 years ago

    anglophilia, did anyone suggest that it would be a problem if a broker sold thru his ofiice? I didn't see that question or issue come up????

  • 6 years ago
    last modified: 6 years ago

    @weedyacres: The new information you provided, that this particular agent is an active agent, puts a slightly different spin on it. Many agents will list their own properties thru the MLS, but not all. There is some push back right now going on in the business because the MLS in many areas automatically uploads the listing to Zillow and then zillow does their level best to sell back any lead to the agent that generated the lead. (Edit, but the agent that generated the lead doesn't get it as it is intercepted by Zillow/Trulia/other online platforms). So since this is an active agent, maybe he doesn't want to buy back his own inquires off of Zillow or other online platforms for his own property. Just a thought. Where is this particular listing? city and state will do.