FSBO Listing on the MLS

**aki** · 11-01-2007, 12:42 PM

Hello everyone, I am a realtor in VA and I have a friend who is interested in selling his house but wants to do it FSBO. Now He asked me if I could list it on the MLS for him even though its fsbo and i told him yes but I have never done this before so could someone give me someone info as in what I would need to do this and would he be obligated to pay a certain amount to a buyers agent or whatever % he chooses to pay.

Thank you

**Cedar City Utah Realtor** · 11-02-2007, 07:26 AM

The question isn't can you do this but why would you do this? First of all you are hurting your friend by not explaining to him that FSBO is a waste of time. Second you are hurting the MLS by putting his FSBO up without charging him.

And to anwser your question, YES your friend would have to pay the buyers agent a commision.

(This should be obvious to you)

**aki** · 11-02-2007, 07:33 AM

Ok maybe I should have explained to you guys that I did explain to him that it is a waste of time is is stuck on trying it out. Second I will be charging him to list on the MLS, and third I know he would have be obligated to pay commission to the buyer agent my question was is there a set %(3) or whatever he chooses. And my other question was what paper work would i need to just list it on MLS.

**Codythebest** · 11-02-2007, 11:34 AM

That's the flat fee broker, with $395 and they put you on the MLS but seller pays buyer's agent, usually 3%....

**Jon Brady** · 11-02-2007, 02:58 PM

Unless your state laws are different, he doesn't have to pay the buyer's agent anything. There are listings in our MLS now with 0 commission for the cooperating agent. He can offer them whatever he wants, of course the less that is, the harder it will be to find agents who will show it.

Only Realtor's have access to the MLS, and they can usually only practice real estate under their broker's name. So to list his house he would probably have to sign a regular listing contract with you. Of course then he would have to pay your broker something too.

In the long run, he really isn't saving anything by going FSBO. He'll have to pay a buyer's commission, pay you and your broker, and spend time marketing it and hosting open houses. With all of that he may as well just get a Realtor.

But you should really talk to your broker as he will be the one deciding what you can do.

**Mike Taylor** · 11-03-2007, 06:19 AM

Originally Posted by Jon Brady

Unless your state laws are different, he doesn't have to pay the buyer's agent anything. There are listings in our MLS now with 0 commission for the cooperating agent. He can offer them whatever he wants, of course the less that is, the harder it will be to find agents who will show it.

I agree, there is no set commission, commissions are negotiable. In our MLS I have seen the buyer's agent co-op fee anywhere from 1-8%.

You need to find out from your local board what paperwork needs to filled out. Do they let owners list their properties in the MLS themselves for a fee? Some places they do allow that.

**Malok** · 11-03-2007, 07:37 AM

Originally Posted by aki

I am a realtor in VA and I have a friend who is interested in selling his house but wants to do it FSBO.

If you aren't able to get your friends to do business with you, who are you going to get - your enemies?

Time to get a new friend IMO.

**IggysListing** · 11-05-2007, 05:55 AM

Ok folks, I generally agree with you.
I always recommend that sellers work with a real estate professional.
However, the words always and never rarely apply to everything.
I sold a house I lived in many years ago before I got my first license
in 3 days. The buyer's agent that approached me was very friendly
and professional. I obviously owned a house in the right location.
There are times when complete representation is not needed.
Also, FSBO's should be embraced as an emerging market. They have
always been around and are increasing in numbers. Many of them
give it a shot and then accept realtor representation. I believe that
younger generations will increasingly accept FSBO and discounted
or modified brokerage as the norm. Change happens.

**Jim Erickson** · 11-07-2007, 06:48 AM

You need a contract between you and the seller. In most states in the US they allow Facilitator relationships and there should be in place facilitator services agreements. Facilitators may perform services for consumers, but do not represent them. Facilitators are bound by license law and common law, but owe only the fiduciary duty of confidentiality unless other fiduciary duties are agreed to between licensee and consumer.This contract will stipulate what the responsibilities of each party (Broker and Seller).

One of the responsibilities a broker (agent) will perform for this type of agreement is placing the property on the MLS. Just be sure that you note "Sellers are representing themselves. Contact seller for all showings, questions, additional information. Buyer's broker compensation is stipulated within the service agreement."

**BrooklynBroker** · 11-10-2007, 09:13 AM

Originally Posted by IggysListing

I believe that
younger generations will increasingly accept FSBO and discounted
or modified brokerage as the norm. Change happens.

I disagree. No discount brokerages will emerge anytime soon. Not until the market picks up.

Have you heard what happened to a discounted brokerage named Foxtons in NY-NJ-CT? Right, they filed for bankruptcy and sold their 4000 listings in bulk to another NON-discount brokerage. They used to be the largerst brokerage in the North East.