In my area we do not have the MLS. We have about 7 Real Estate Companies that have at least 5-10 realtors and only 1-3 Realtors are active in each company.
What I want is to have an open listing. I’m not sure if this is the correct term.
I have a website, signs, newspaper ads that advertise all the time, so I don’t want them to spend money advertising.
I will pay 5% for them to just bring qualified buyers/write a contract and follow through.
Plus I don’t want to sign with any ONE of them nor do I want to tie up my property. If I can sell it…I want to be able to do so.
Can a realtor give me some idea how to go about this? What do I do or say. I live in a small town and don’t want to step on toes.
I have BOUGHT from many of the companies all ready.
I want the maxium coverage but not tied to anyone. They don’t have to spend anything on my property unless they just want to show they have a new listing. I have already done that.
Ideas?
I’m a broker in PA. Open listing is what you’re describing. In my area, that means the owner isn’t giving any one company the exclusive right to list/sell the property, and is retaining the right to sell the property themselves without paying anyone commission. I’d suggest putting a flyer together and sending it to the 7 companies offering to pay X% commission to the agency that brings the buyer. Maybe also, do an open house for the brokers so they can see the property.
Nancy
Thank you Nancy that was the type of information I needed.
Setting it into action.
Great $uccess
Dee-Texas
In my area, this is similar to paying $xxx to be listed in MLS, but you don’t have a listing agent to represent you. You mention a 5% commission, typically when a house is listed in MLS, if the listing agent signed up the seller at 5%, they would offer to co-broke the deal with another realtor and offer a 2.5% commission. So when you pay to have it listed in MLS, you end up saving half the commission, don’t feel you need to pay the whole amount when they’re just doing half the work.
I guess if it’s a small enough town and you know all the realtors, you could probably just send each one a fax and let them know you’ll pay a certain amount in commission if they can produce a ready, able and willing buyer. If they don’t produce one, and you find the buyer yourself, you don’t owe anyone anything.