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Fsbo Premium

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Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
Anyone else insist on a premium fee for a FSBO transaction? For me, the same goes for those discount "limited service" discount brokers who are sometimes more difficult to deal with than FSBOs. The reasons are obvious, more time involved, more hassles, no convenience of a lockbox inspection, the guarantee of numerous follow-up calls and curiosity questions and the dreaded expectations of some lender/clients for you to step in and perform the service that a listing or selling agent would ordinarily do, telling them no way always angers someone. This is one area where I agree with the NAR, use a Realtor or expect to pay more.
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
Anyone else insist on a premium fee for a FSBO transaction? For me, the same goes for those discount "limited service" discount brokers who are sometimes more difficult to deal with than FSBOs. The reasons are obvious, more time involved, more hassles, no convenience of a lockbox inspection, the guarantee of numerous follow-up calls and curiosity questions and the dreaded expectations of some lender/clients for you to step in and perform the service that a listing or selling agent would ordinarily do, telling them no way always angers someone. This is one area where I agree with the NAR, use a Realtor or expect to pay more.
FSBO's are a pain in the neck....an additional fee for appraisals of FSBO's seems reasonable to me.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
I have not found any real difference so I don;t charge more
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
With FSBO Fannie and Fred expect you to engage a Private investigator to shine a bright light in each of the parties eyes and make them talk. The last AMC request I had in these regards would allow up to water boarding and/or a well charged 12v battery connected to the opposite poles of the male(s) genitalia. The females get away with left to right chesticles.
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
I have not found any real difference so I don;t charge more
FSBO's are more likely to have oddball contract provisions and/or involve involve fraud, including bailout schemes, straw purchasers, money being passed between the parties under the table and off of the HUD-1, etc. Thus, FSBO's require additional due diligence, which requires more time, which should require a larger fee.
 

Flakey

Senior Member
Gold Supporting Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
South Carolina
My most recent had a two page, single-spaced ROV wriiten by the seller and buyer (they were friends) that questioned my inspection, comp selection, report writing skills and competency.
 

djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
When did appraisers become fraud investigators? If you want that , call the FBI.

I love FSBO. No realtor marks ups. Never been questioned. Wish they were all that good looking.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
Anyone who can get a higher fee for an order, more power to them.

But in my area and my experience, I have not found as a general group the FISBO properties to be any harder and in many cases they are easier..the owner or buyer meets at property and answers any questions about contract or terms. I tend to find more inflated prices or funky deals in RE agent properties...A FISBO is either sold by owner or may be a tenant or friend buying etc but just explain it. The fact the property was a FISBO makes things simpler if the CS price is above the market value opinion as the explanation is the subject was not listed or sold through MLS /an agent or not exposed to the open market....my POV at any rate!
 

PushinValue

Junior Member
Joined
Nov 28, 2011
Professional Status
Certified Residential Appraiser
State
California
I just did a fsbo that included the seller paying for rounds of golf at the country club for the buyer (who was also the tenant) and a later addendum for the seller to pay to have the neighbors play golf. I couldn't remember the other strange terms, the golfing is what stuck out to me.

Who knows what was going on with that one...
 

gregb

Elite Member
Joined
Sep 3, 2011
Professional Status
Certified General Appraiser
State
California
Anyone else insist on a premium fee for a FSBO transaction? For me, the same goes for those discount "limited service" discount brokers who are sometimes more difficult to deal with than FSBOs. The reasons are obvious, more time involved, more hassles, no convenience of a lockbox inspection, the guarantee of numerous follow-up calls and curiosity questions and the dreaded expectations of some lender/clients for you to step in and perform the service that a listing or selling agent would ordinarily do, telling them no way always angers someone. This is one area where I agree with the NAR, use a Realtor or expect to pay more.

Oh the horror, if the FTC only knew, fixing appraisal fees based on FSBO's. What's next, raising the appraisal fee when a certain agent, known for issues, is involved? :)
 
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