A brief history of why this is happening:
National Association of Realtors lost a class action lawsuit which resulted in the creation of the listing category “Entry Only”, which allows “For Sale by Owners” to place their properties on the Realtor owned Multiple Listing Service. That’s for every mls in the country. The flat rate “no representation” brokers and marketing companies like MLS My Home came about as a result of this federal law. Are FSBO Sellers successful in selling their homes themselves? A small percentage are successful and buyers agents wind up doing part of the sellers transaction paperwork to make it happen. The rest pay $99 for a hands on lesson in what it takes to sell a house. Most eventually list with a full service broker. The trend toward lower commissions is here to stay. Technology has played a large role in this. The general population is better informed on the market and the process. These sellers turn to an experienced agent or an attorney when they hit a snag in the process. Escrow companies are also assisting FSBO sellers. These times, they are a changin!
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