Last week, a Seattle-area woman contacted us out of the blue asking if we advertise FSBOs and FSBO open houses on ShackPrices (we don’t), which led to a back-and-forth exchange that went sort of like this:
Me: Out of curiosity, why don’t you list your home in the MLS for $400 and get a lot more exposure? If you’re worried about the 2% – 3% commission, just mark it up that much.
Her: It’s sort of an experiment.
Me (in my mind):A $400,000 experiment that will probably result in significantly less exposure for your home and probably result in a longer time to sell (and result in continued payments during that time!) at the very least? Skip the experiment, list it on the MLS and buy yourself a new (if inexpensive) car with the money you are likely going to lose!
Yesterday an even better solution for FSBOs popped up: IggysHouse.com lets you list your house on the MLS for free. Experiments aside, it makes a lot of sense if you’re a FSBOer to get your property in the system that almost every home buyer looks to for listing information.
Do not be offended, dear real estate agent reader. This free listing service, which is apparently a slap in the face of real estate agents, is actually a backhanded compliment. IggysHouse claims to be offering this just so FSBOers will consider their buyer agent service, but it’s clear that they are convinced they can sell those FSBOers on other products and services and that a decent percentage of their FSBO listers will be convinced to work with an agent when they don’t find success going alone or have trouble getting through the close or negotiating with someone who has done it 100 times before.