How to Find an Unrepresented Buyer When Selling a Home

Save 6% When Selling in NYC: https://www.hauseit.com/agent-assisted-fsbo/
NYC Seller Closing Cost Calculator: https://www.hauseit.com/closing-cost-estimator-for-seller-nyc/

How do you find a direct buyer as home seller? We'll demystify this topic in the following video. My name is Chris at Hauseit. Hauseit is the largest For Sale by Owner and Buyer Agent Commission Rebate company in New York City, established in 2014. If you have any questions about buying or selling a real estate and how you can save a commission in doing so, please check us out at https://www.hauseit.com.

As you may have heard, over 90% of all home buyers are represented in New York City. This means on 90% of transactions that occur, the buyer has an agent and the seller has an agent. Why does this happen? How could this be possible in the age of the internet? The first fact that keep in mind is that there are 30,000 licensed real estate agents in Manhattan alone and over 50,000 licensed real estate agents in New York City metro area.

As a result, every New Yorker has a proverbial at least 5 real estate agent friends. These friends we'll be discussing real estate with them in the market at cocktail parties at social gatherings. We'll just running into each other. This collectively represents the largest sales force in New York City and as a whole in the United States the largest sales force in the nation. All of the agents we'll be running around offering essentially a free service to the friends. Remember that a buyer never pays anything for a buyer’s agents services. The buyer's agent is always paid from a split of the total listing commission by the seller. If the buyer does not have an agent, the listing agent simply keeps both sides of the commission. As a result, it's technically free for the buyer to work with the buyer's agent always.

A second major reason for why are so many buyers are represented by buyer's agents is because many public search websites have a business model predicated on diverting leads from the listing agent to an agent who has paid the public search website to advertise on their website. We will not name names here but many of the public search websites you heard of or will find in a casual google search. Well when you go to a listing on that website, you will usually see either a list of different contact agents most of which are not a listing agent. Perhaps only one if any will actually be the listing agent.

However, if you accidentally click on any other agent listed, well you'll be contacting a random agent who has paid to advertise there. Other real estate websites make it even more difficult and hide the listing agent essentially altogether. Sure, they may list the listing broker's name somewhere far below perhaps in the fine print but in the main contact form or the main contact bottom where may ambiguously say contact agent, well if you hit contact agent or call the number it will divert you to a random agent who has paid to advertise on that listing. This random agent again is not the seller's representative, it is a random agent who is hoping to be the leads buyer's agent.

As a result, these two primary reasons the fact that there are so many real estate agents licensed especially in the city like New York City and the fact that public search websites have a business model of diverting buyer leads away from the listing agent to random buyer's agents. Well this is the reason why over 90% of transactions for example in the metro of metropolis in New York City are done between tuition's buyer's agent and a listing agent.

So, what are the solutions to this problem? The first and easiest solution is to hold as many open houses as possible. Now we're talking about general open houses that are walk in. People see a time slap from 1PM to 2PM for example or 2 to 4PM and they can walk in at any time without making an appointment. These are extremely effective for receiving and getting direct buyers because there is no way for leads to be diverted. A second great method to find direct buyers when selling a home is to upload media such as a floor plan or a property walk through video with your branding, logo and contact information. As of this filming, most major search websites have not made a big scene about removing media with self-promotional material or contact information.

As a result, if you look on any major public search website and check out a listing, you typically see that the listing broker has put his or her firm’s information logo and contact information on the floor plan or somewhere in the corner of a floor plan.

Save 6% When Selling in NYC: https://www.hauseit.com/agent-assisted-fsbo/
NYC Seller Closing Cost Calculator: https://www.hauseit.com/closing-cost-estimator-for-seller-nyc/
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Hauseit LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
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