Potential and existing homeowners for sale should take the ongoing rhetoric of the National Association of Realtors (NAR) with a grain of salt. The NAR has a significant stake in how you choose to sell your property – did you know there is approximately $ 60 BILLION in real estate commissions paid annually (up 19 billion since 2000)? In a well-planned and funded effort to justify their services and the astronomical commissions they raise, the NAR spends millions of dollars each year flooding the average homeowner with advertising.

Real estate agents will have you believe that it is totally impossible to successfully market and sell your own home. The reason they propagate this fallacy is painfully obvious, but it is surprising how compelling they can be and how often homeowners fall victim to their ploys.

Let’s put aside some of NAR’s most common rhetoric:

FSBOs don’t sell for less

FSBOs don’t take longer to sell

FSBOs do not inadvertently expose themselves to would-be thieves, rapists, or murderers.

FSBOs can effectively market their own property

FSBOs can effectively sell their own property

FSBOs can save thousands of dollars in fees

In fact, the National Association of Realtors does some things very well. First, they collect, compile, and distribute highly accurate real estate data that can be very helpful when creating a Sales by Owner marketing plan. This data comes from hundreds of thousands of home sales, so the data is very accurate. Most, if not all, of the data is available on the Internet. These data include, but are not limited to, average number of days on the market (DOM), average and average selling prices (compiled monthly and seasonally adjusted), unit sales by region, and unit sales by “metropolitan areas.”

The NAR also compiles statistics related to the “Buyer” and “Seller” trends, these statistics are generated through surveys of both buyers and sellers. Some of the data speaks volumes, for example, more than 70% of home buyers in 2006 used the Internet to find the home they eventually bought, before hiring a real estate agent. Second, 18% of home buyers said that the first introduction to the home they bought was a FOR SALE lawn sign. Do the math, that means more than 88% of “BUYERS” found the property they eventually bought without the help of a real estate agent; however, 85% used an agent to facilitate the purchase, who say that marketing does not work.

The second thing they do very well is the real estate market; this is done through its proprietary data service, the Multiple Listing Service better known as MLS. The data in this real estate listing, while proprietary, is not restricted to real estate agents, it is available to virtually anyone with Internet access. Realtor.com, the consumer-facing website is a by-product of MLS, this premier marketing tool for real estate agents is also available to virtually anyone. For sale by owners can invest in flat rate MLS. The concept is simple: instead of the “Listing Agent” charging a commission based on the sale of your home, the owner agrees to pay a fixed fee to a registered real estate agent; This fee is generally in the range of $ 399 – $ 699 depending on your geographic area and level of service. The agent simply agrees to list your property in the MLS. This exposes your property to all real estate agents through the MLS database and to most potential buyers through Realtor.com (remember that over 70% of buyers found the property on the Internet BEFORE hiring to an agent), which enjoys more than 7 million monthly visitors generating more than 350 page views. CAUTION: not all flat rate MLSs are the same; make sure you know what you are buying and that there is some level of support.

One of the biggest problems I’ve always had with real estate agents (outside of their high commissions) is that they have a different mandate than the typical homeowner. A real estate agent mandate is to sell “a” house and collect your commission. The mandate of the owners is to sell their house. How often do you think a prospective buyer calls to schedule a viewing for a specific property (your property) and the agent says, “Sure, we’ll schedule an appointment? But while we were looking at that property, let’s take a look at these” others “I think. that may interest you “. Personally, I don’t blame them, this is how they make a living; I’d do the same, it’s called “hedging your bets.” The inherent problem is that a real estate agent can be successful without the owner being successful. A great example of this is “open houses”, in my opinion, they are simply a lead generation platform for the listing broker. The “visitors” come to see your house, the agent takes their name and contacts them to sell them any house – they have simply used your property and your time as a hook.

I always have to defend myself, and I want to be clear, I don’t hate real estate agents. They definitely perform a service that some people are unable to perform. However, I have a problem with the fees they charge and their relentless attack on FSBOs. I have always felt that if someone has to race in an effort to justify themselves, it is a sign of weakness.

Simply put, you can sell your own home and save thousands of dollars; don’t be swayed by the NAR and its unsubstantiated claims. Don’t believe something just because you saw it on TV; it’s a blatant effort to protect themselves, their association, and a livelihood that’s under significant pressure to justify their fees. It is not a coincidence that the US Department of Justice is currently investigating the industry for antitrust violations. Change is coming, and it will shake the very foundations on which this association was founded. The internet has changed the way people buy and sell real estate – it’s time for real estate agents to embrace that fact and adjust accordingly or go the way of the Dodo bird.