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Home Listing Service (HLS) Redefines
The Term "FSBO" |
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FSBO (pronounced "fizz-bo") is an
acronym for "For Sale By Owner". |
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For Sale By Owner: Selling your
house without a real estate broker. Doing so can save you a commission but
requires that you devote time and energy not only to marketing and showing
the house but also to learning and following the legal rules controlling
sales of real estate in your area.
quote
from www.nolo.com |
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"FSBO" Graduates To
"RASBO" |
RASBO (pronounced "razz-bo") is an acronym for
"Realtor Assisted Sale By Owner"
What does it mean? We took the above definition of FSBO,
added some words, removed some words.
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Realtor- Assisted Sale-By-Owner
Selling your house or property with or without a real
estate broker. Doing so can save you a commission but requires that
you devote some time and energy not only to
marketing and showing the house but also to learning
and following the legal rules controlling sales of real estate in your
area. |
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FSBO's.... Let MLS and HLS do some of the work for you
for a very small fee. |
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Side-By-Side Comparison
***denotes difference |
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Home Listing Service |
Traditional Real Estate Service |
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Realtor-Assisted Sale-By-Owner
Services |
Realtor-Only Services |
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Agent "represents" seller. |
Agent "represents" seller. |
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*** Seller takes an active role in marketing and
selling the property, using MLS, along with the HLS Seller Reference Manual and advice from
listing agent. |
*** Real estate agent markets and sells the property
exclusively, while the seller takes a passive role. |
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The house is listed for sale in MLS and
displayed on all participating agency web sites, and Realtor.com |
The house is listed for sale in MLS and
displayed on all participating agency web sites, and Realtor.com |
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*** Listing agency, agent, or seller set up
showings. |
*** Listing agency sets up showings. |
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*** The seller (or the buyer's agent) shows the
property to perspective buyers. |
***
Only a real estate agent can show the property
to perspective buyers. |
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The listing agent provides all needed paperwork. |
The listing agent provides all needed paperwork. |
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Listing agent explains purchase contracts to
seller and advises the best response. |
Listing agent explains purchase contracts to
seller and advises the best response. |
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The agent provides guidance to the seller
regarding the procedures and legal rules controlling
sales of real estate. |
The agent provides guidance to the seller
regarding the procedures and legal rules controlling
sales of real estate. |
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*** Buyers are not required to have agent. You
may sell the property directly to a buyer, or the property may be sold to a
buyer through another agent. |
***
All buyers must be represented by a real estate
agent. The seller may not sell his/her property directly to a buyer.
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*** Seller pays a small fee at time of listing, but
pays no sales commission (unless the buyer has an agent). |
*** The seller pays a very expensive commission
at the time of sale to both the listing broker and selling broker.
(Commission is usually between 5-7% of the sales price). |
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*** Company has LOW operating cost. |
***
Companies have HIGH operating costs. |
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*** Seller saves thousand$ of dollars on
commissions. |
*** Seller spends thousand$ of dollars on
commissions. |
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