Archive for the ‘sell house’ Category

Flat Fee Real Estate Advertisting

Flat fee MLS has become the preferred advertising method for by owner real estate sellers. In fact, no other mode of advertising is more effective for home sellers in reaching the largest groupd of home buyers. The math is simple. You can pay a few hundred dollars for flat fee MLS listing with an online real estate company like Bloomkey.com or HouseZooks.com and reach millions of potential buyers. Most flat fee MLS listing packages last for 3 to 9 months – some for up to a year or even ‘until SOLD’. Or you can pay a similar amount to a local newspaper to reach a few thousand people. But newspapers classifieds usually last for just a few days.

As an advertising medium it’s hard to beat the Internet these days. A flat fee MLS listing with Bloomkey not only provides a listing on the Realtor Multiple Listing Service but also includes advertising on the leading real estate sites like Realtor.com, Trulia.com, Zillow.com as well as most of the major real estate franchises’ websites like Century 21, Prudential, Help-U-Sell, etc. When you stop to think about it, it’s really quite astounding how far your marketing dollars will go with a flat fee MLS listing. What just a few years ago would have required a real estate owner to give up 6% times their property’s sales price can now be obtained for less than the cost of a newspaper classified advertising campaign. Chalk it up to the economies of the Internet.

As with so many industries, Travel and Stock Brokerage to name two, the Internet has drastically impacted the costs associated with gaining access to the market for consumers. The efficiency afforded by being able to reach so many people for so little makes the Internet the perfect medium for real estate. Flat fee MLS is the best way to take advantage of the evolution of real estate marketing.

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Flat Fee MLS

Flat fee MLS listing gives home sellers an cost-effective method for reaching the most home buyers. A listing in the Multiple Listing Service (MLS) is the best advertising a seller can get. Over three quarters of properties sold nationwide sell through the MLS system. The MLS is to real estate what a stock exchange is to securities.

Getting listed on the MLS wasn’t always as easy as one might suspect. To be able to post property listings in the MLS you must be a licensed real estate broker. Licensing is required in order to gain membership to the MLS. Additionally, most MLSs require membership in the National Association of Realtors® the trade organization for real estate agents and brokers. In the past, a property seller had no alternative other than paying a commission of 6% of the property’s value to a real estate broker in order to gain access to the MLS.

With the advent of the Internet, information about real estate for sale or lease became more readily accessible to consumers. Real estate brokers have come to realize that they no longer control the access to property for sale and lease information in the way they once had. In order to remain viable many real estate brokers have migrated to the Internet and begun offering ‘a la carte’ real estate services and products. One of those services is a listing on the MLS.

Now Internet based real estate companies like Bloomkey.com offer by owner real estate sellers low cost, flat fee real estate selling tools and services including an introduction to flat fee brokers who can provide advertisement in the MLS for a flat fee. With a flat fee MLS only listing on the MLS, by owner home and property sellers handle all other aspects of the sale for themselves while being able to gain access to the valuable pool of ready buyers only available through the MLS. That way they can keep control over their entire real estate transactions, including when the property can be shown, while retaining far more of their home’s equity than sellers paying a full commission to traditional real estate brokers.

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For Sale By Owner

HouseZooks today launched a new website dedicated to assisting for sale by owner home and property seller’s maximize their saving and returns on their real estate transactions. The site includes nationwide real estate property search, home valuation tools, information and statistics on the local real estate market, mortgage rate and closing cost estimation tools. HouseZooks also provides for sale by owner home sellers with an introduction to a local real estate agent who can advertise their property on the Multiple Listing Service for reduced rates starting at just $199.00.

Internet websites like HouseZooks have greatly reduced the cost to consumers for real estate information, marketing and brokerage related services. What once cost home owner’s 6% of their property’s equity can now be obtained for thousands of dollars in savings. Since most people now shop online for real estate, it just makes sense that more property owners are choosing to make use of tools to maximize their real estate returns. HouseZooks allows by owner sellers to compete with real estate agents and brokers by providing the same advertising access to the marketplace.

Property’s advertised with services like HouseZooks also help sellers during down markets when price is so important. Sellers who aren’t having to give up so much of their equity to real estate commissions can price their homes more competitively and still come away with a larger net sale proceeds.

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Flippers Don’t Buy At Top Price

And, please, clean up the clutter before you take that photo!

Put it on the market, full of clutter, not cleaned, at top price, even if it’s not ready, advised their real estate agent. Let’s market your home to a flipper, someone who wants to buy it, fix it and resell. Let’s see if we get a nibble and you can work on it in the meantime, the agent told them.

We’re laughing out loud. This couple eventually fired their agent. But they had to go through the hot market period – summer months – without selling their house. Now they’re entering the slow period for real estate – the last three months of the year. We really feel for this couple, but when the agent told them to attempt to sell their house to a flipper for "top price" and proceeded to take photos of uncleaned, cluttered rooms, they should have kicked him out of the house and listed their house on the Bob’s Bizzarre Bulletin Board. They’d have received the same results.

Not meaning to be flip, but serious flippers – No. 1 – don’t buy at top price. Secondly, serious home buyers aren’t even going to walk in the front door if the photo they see of your house shows a bunch of clutter. If the seller can’t go through the trouble to clean up the house before he lists it, he likely won’t make the sale. Next time, we suggest this seller skip the real estate agents and just sell on their own through a flat fee service like IHS Realty.

See Also

  • Home Showing Tips
    How to show your home to potential buyers right down to the smallest details.
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Home Seller Asks, “What Should I Do?”

House has been on the market for 18 months

Ask your listing agent to prepare a new comparative marketing analysis showing recent sales prices of nearby comparable homes, asking prices of neighborhood homes and recently expired listing prices of nearby residences, which were probably overpriced.

Good idea. Or a better idea is to fire your real estate agent and go FSBO. If any real estate agent lets a house go 18 months before it sells and doesn’t suggest dropping the price or offering other ways to promote the house, you’d better do something. The first thing is, fire the agent. The second thing is, get another one or sell the house yoursel. If you sell the house on your own, do some research and use a service like IHS Realty, where you can have access to the multiple listing service for one low fee.

Chances are, if your house isn’t selling, it’s overpriced.

See Also

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IHS Realty Is More Than Just Another FSBO Site

We offer low cost MLS listings and a few free tips for selling your house

Here are a few sell your house FSBO tips:

  • Put some signs out in prominent locations in front of and behind your house. Don’t forget to place a few strategically around your neighborhood to point the way for drivers to find you.
  • Run classified ads in your local newspapers.
  • Put notices on bulletin boards at work and community locations where lots of people congregate.
  • Put ads in local and national "For Sale By Owner" magazines.
  • Print some brochure or flyers with the essential FSBO information on them and distribute them as far and wide as you are capable.
  • Put a listing up on Internet FSBO web sites like IHS Realty.
  • Hold an open house.
  • Put up your own web site and drive traffic to it. You’ll have that one web site all to yourself and it only costs about $50 per year.
  • List your house on the MLS. IHS Realty is one of the few FSBO web sites that gives FSBO sellers access to the MLS, a system where 75% of all home buyers go to find their next house.

See Also

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