Evolution of FSBO Midwest
Mark Roy, the Attorney and Founder of Roy Legal Group first recognized the overwhelming demand for FSBO real estate services while practicing law in the private practice.
Upon further investigation it became evident that the demand was being created by the wide spread use of the internet, and the unwillingness of established estate agencies to adapt to the evolving changes in their commission structure and delivery of services.
Today it is evident the market demand for conventional full-service real estate brokerages and the high commissions they charge are a thing of the past.
Unfortunately, real estate agents have not adapted to these changes in their sales commission structure.
In the "do it yourself economy", homeowners recognize they can perform many of the same functions a realtor can and avoid commissions and the headaches of dealing with self-dealing real estate agents.
FSBO Buyers now recognize the value of a "non-listed house" and avoiding commissions being added to their loan in the purchase price.
FSBO Buyers recognize they can afford a nicer house if they are able to avoid commissions. FSBO Buyers also recognize that sellers may have a greater budget for updating, repairs, or closing costs.
FSBO Sellers recognize that they can get their sale price they net 6% more money at closing. e.g. $300,000 X 6% = $18,000, which is all tax free!!!!
Another advantage to the FSBO seller is there is more "wiggle room" in the final sale price to make repairs or help with buyers closing costs.
FSBO Sellers also recognize their house can be priced lower and still result in the same net amount at closing, if dedicated by circumstances or necessity.
It was for all these reasons Roy Legal Group formed FSBO Midwest. To deliver professional FSBO services and fill the gap between the unmet needs of unrepresented "do it yourself" FSBO Buyers and sellers, and what traditional real estate agents were willing or able to provide.