Archive for the ‘sell on your own’ 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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Selling Your Home By Owner During the Holidays

The holiday season presents a unique set of challenges and opportunities for the ‘for sale by owner‘ home seller. While a majority of sellers want to wait until the Spring market to sell their home, selling during the holiday season can prove to be a smarter way to obtain a sale in a down market. Selling against the market when everyone else is off the market can work to your advatage, (just ask Warren Buffet). Consider the following:

Now is the time of year when many homes show their best having been cleaned and decorated for holiday guests. Granted, fewer buyers are looking this time of year, but the ones that are are certainly more serious and motivated. And, there’s less competition for available buyers since most sellers don’t want to hassle with having their homes shown during ‘vacation’ days. Odds are it will take fewer showings to find a buyer for your home during the winter holidays. And, with less competition, you may even find yourself selling for more!

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Are You Ready To Sell On Your Own

If not, find an agent and negotiate your commissions

Are the financial savings of not paying a commission to a Real Estate Agent worth the time, frustration and disappointment that some times goes along with selling your own home?

Can you deal with the low offers that will be presented?

Do you understand the legal requirements of selling your home?

Are you willing to work with a team of professionals to sell your home?

Are you willing to invest the time and money necessary to market your home?

Do you have the time to be on the market 2 to 4 weeks more than the average sale in your area?

If you’re questioning whether selling on your own is right for you, then you may not be ready. Do a little homework. Find out what other owner-sellers have been challenged with and how they overcame their challenges. You are much better going into it with your eyes wide open than trying to sell on your own when you aren’t ready. And if you aren’t ready, that’s OK. Go find yourself an agent and pay those high commissions. But be sure that you are doing it for the right reason.

See Also

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