In today's world where internet is king, buyers are finding information on homes online, research has shown that 95% of home buyers start their research online and this number is growing every year.
After years of analyzing internet marketing it has become apparent to me and everyone else in the Real Estate industry that For Sale by Owner websites are pointless. The only people who go on them to find homes are real estate brokers and Real estate agents along with the home owners trying to sell their properties. By placing your home on a sale by owner site you will be bombarded with inquiries from real estate professionals trying to solicit your business. Be honest and think about it, if you are a home buyer looking for homes on the internet are you really going to say hmm, let's look at for sale by owner sites. Isn't it far more likely that you are going to go where the largest selection of homes available are advertised? Ask your friends and relatives who have purchased homes and ask them if they ever used a FSBO site to find a property. I would be willing to bet the answer is a resounding no.
The question is, how do I get the most exposure for my property? The answer is actually very simple. You must put your home on a multiple listing service. Definition: "A Multiple Listing Service (MLS, also Multiple Listing System or Multiple Listings Service) is a suite of services that enables brokers to establish contractual offers of compensation (among brokers), facilitates cooperation with other broker participants, accumulates and disseminates information to enable appraisals, and is a facility for the orderly correlation and dissemination of listing information to better serve broker's clients, customers and the public."
This will get you exposure on all the major websites where buyers actually go and look for properties.
Selling a home without putting it on a MLS service would be like selling ice to an Eskimo. How many Eskimos would even give you the time of day? However having the exposure that MLS service provides get literally tens of thousands of people working with you to sell your property. This would be like selling ice in a desert, your line of customers would be endless.
There are sites that allow you to put you home on MLS for a flat fee. This can be an effective way to market your home to the world. However buyers today all have representation and in order for your home on MLS to work and actually get real estate professionals to show your property you have to offer a commission to the buyer's brokers. Put yourself in a buyer's broker situation you have 6 properties to show your client. Five of them offer 3% commission to a buyer's broker and then one offers 0%, 1% or 2%. What would you do if you are in a profession to make money? I assume you would show the 5 properties that offer 3% and never even show the one that offers 0%, 1% or 2%. So if you due put your home on MLS for a flat fee you must pay 3% to actually get showings.
So by placing your home on a MLS service you have paid a flat fee which actually gives you very limited options and can cost you a pretty penny, and you have to pay 3% to the buyer's broker who sells your property if you actually want it sold. Essentially you have to pay about 3.5-4% for limited service, and you have no representation selling your most prized possession. You will be negotiating with brokers who negotiate properties for a living which would give them a leg up. Think about it for a second if you negotiated the same product every day, wouldn't that give you a leg up on someone who has little or no experience with that product. Good negotiators actually get 5% more for a property then an average negotiator. An inexperienced negotiator will actually get 5% less for a property then an average negotiator. That is a 10% difference between an inexperienced negotiator and a good negotiator. Today's market place is a buyer's market making any interested buyer essential to keep at the negotiating table because there are just far too many options for buyers.
Therefore when you decide to join the real estate profession and become a For Sale by owner, then if you want to get top dollar then you are realistically only saving 1-2% by selling the property yourself, since MLS is mandatory to get top dollar. Keep in mind when representing yourself all showings you will have to deal with and schedule. Keep in mind that when buyers want to see a house you need to make it available because if you don't then they might find another home because you weren't available to show. You must research all prospective buyers financing because financing has become much harder for buyers to obtain. There are big differences between pre-approved and pre-qualified and the difference is essential to whether you home will likely sell or not. Also real estate laws are changing constantly, knowing them is mandatory to avoid litigation in the future. Especially as real estate lawsuits are hitting record highs due to sellers not knowing simple real estate laws.
Now that you know the truth about MLS costs and getting maximum exposure for your property you must weigh the pros and cons and make an educated decision if selling your property by owner is really worth all the time, aggravation and potential legal costs in todays sue happy society.
Chuck Barnes - As owner of Lifeguard Realty Inc, I love real estate and I am happy to see you join my profession. I want to see you succeed at selling your home so I developed an additional way for you to get maximum exposure on the internet. Learn how to create your own search engine optimized webpage: go to: http://forsalebyowneradvise.info/ I hope this article was helpful and if you or anyone you know is interested in seeking professional real estate services send them my info: 508-733-3100 cell, or chuck.barnes@lifeguardrealtyinc.com Feel free to email me any real estate questions you might have and I would happy to offer you free advise in the matter. Article Source: http://EzineArticles.com/?expert=Chuck_F_Barnes |
沒有留言:
張貼留言