Quickly Selling Real Estate by Owner When Fast Cash Is Necessary

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The good ole 'days were refreshing. You could put up a sign in your yard and get fast responses from interested potential buyers, or hire a listing agent and not worry about their commissions eating up your cash. Times have changed.

Real estate has become competitive. In some areas, it's a sellers market. In others, buyer's take the reins. No matter what though, there are many thousands more individuals in real estate now than there were back then. With investment seminars and flipping shows becoming more mainstream, the real estate pool is growing bigger on a daily basis.

But what if you are in a hurry to sell? Does that mean you are motivated? Let's take a look at what constitutes a motivated seller, and whether or not some of these seller techniques will work for your situation …

Motivations:

  • You are facing foreclosure

Times can be tough. You may have been let go from that job and couldn't replace the income in time. The bank sent you a letter giving you notice of a Lis Pendens (the beginning of a foreclosure, also known as a preforeclosure) You are out of options, and you don't want the foreclosure to end up destroying your credit.

  • You are behind on taxes

Just as before, this is an immediate situation that can destroy your credit. Taxes will get collected no matter what, so bad credit doesn't need to be added to the mix. Back-taxes will not only eat up your equity, but will also be attached to your future wages.

  • You have bad tenants

You are constantly receiving complaints about the tenants in one of your properties. Police are becoming a normal sight in front of the property. Perhaps the renters are turning your intended investment into a drug house. You don't want to deal with the situation and would rather take cash out of the investment and walk away.

  • You are getting divorced

Let's face it. Not many are fair in divorce proceedings. Who is keeping the house? Neither of you? So you have no choice but to sell quickly so you can avoid your soon to be ex like the plague, and get some cash for a fresh start.

  • You are retiring

Whether you are a landlord who is retiring from the business, or a couple with a home that you've had for years, you just want some cash for your equity so you can move to warmer climates and bingo.

  • You inherited real estate

You just inherited a house or multi unit property, but would rather have cash instead. You want a quick sale, and don't want to be bothered with upkeep.

  • You are an out of state owner

You thought you could manage the investment property in California while relaxing in your home in Maine. Unfortunately, good help is hard to find and the property managers all turn out to be drunks. The grass is high and you are getting letters. It's causing more headaches than it's worth.

  • You just want some extra cash

You don't have a need for the property in question and you simply want to pad your bank account.

These are all valid reasons that would make you a motivated seller. The only question I have for you in this case is … are you greedy?

A number one killer of real estate sales is an owner who has too much pride to accept that the market will not support their outlandish property valuations. The fair market value may be high, but nobody is biting. How is that quick sale going for you? The first step in selling your home quickly is acknowledging that you need to be open minded. If you can be open minded about the price of the sale, or the terms, then selling fast will be a breeze.

Where are my target buyers?

You have quite a few options. Some will take longer than others. Probably the number one way of selling quickly is seeking out a wholesaler. A wholesaler is a real estate investor who looks for discounted properties, writes an offer, then assigns the contract to one of their many cash buyers. Often, the wholesaler will have hundreds, or even thousands of investors in their contact list who are ready to buy immediately. Their investment partners have been qualified by the wholesaler with proof of funds, and will have shown the wholesaler multiple deals that they have closed in the past.

There are wholesalers that buy properties in multiple states, while other wholesalers are limited to a single state. Some of them even stick to a specific city or regional area. They are known for the use of phrases such as "we buy houses, any area, any condition". While many wholesalers stick to deeply discounted properties, others work with low equity deals where Subject2 and seller financing can be put into play. These are some of the techniques that require you to be an open-minded seller that is truly "motivated".

Another option for a quick sale is Craigslist and other classified websites. If you are going the classifieds route, you have to be prepared for the 'tire kicker' responses. There can be a lot of newbie investors, and people who are just looking that will take a lot of your time to screen out before finding a true buyer. When listing a classified ad for your home, make sure you include as many details as possible in the ad. Leaving out bedrooms, bathrooms, parking, and other features will only mean that you have to spend time discussing these things when taking the multitude of calls you will receive.

If classifieds are not your thing, you will want to find buyers through a more direct route. Go to where they hang out. There are forums such as EquityPaper, and BiggerPockets that have premium subscription options for real estate listings and other networking tools. These are forums where investors get together to discuss real estate topics daily. If you list your home in these professional member areas, or marketplaces, you can get fairly quick responses from interested buyers.

Determining property value to an investor

When listing your property, there are some things that potential buyers will want to know in addition to the standard property details. ARV (after repair value) is one of them. To find your ARV, go to Zillow, Trulia, and Redfin. On each of those websites, search for your property and write down the estimated value for each of them. Add all 3 of those values, then divide the sum by 3. The result will be your ARV.

After you have your ARV, you want to determine what the new buyer will have to put into the property in repairs. If your home is in great condition, you only need to account for simple things such as paint, appliances, and other things related to the buyer's tastes. You would multiply your square footage by $ 10 to get the total credit the buyer will want. If the property needs some updates such as flooring, new toilet, etc, then you will multiple the SF by $ 15. Broken windows, doors, etc will be $ 20. If the house is a disaster and a complete rehab, then the multiplier is $ 30. Now subtract that number from the ARV.

Whether or not the buyer is a wholesaler or a flipper, they need to make something off of the deal. This can be anywhere from $ 2,000 to $ 50,000 or more depending on the location, value, and other factors for your property. Many good wholesalers will stick to the $ 10,000 pricepoint or close to it however. So take your new ARV and subtract the buyer profit for an expectation on how much money you will be offered for the property.

Creative financing for a fast sale

Assuming that the final number from the calculations listed above was not even close to taking care of what you owe on the property, then you need to learn to be creative. Some wholesalers and flippers will still take on a property with little to no equity.

Subject 2 Financing

Subject 2 is a technique that allows the new buyers to take over your mortgage payments, and assume control over the property. Sub2 investors are looking for leverage so that they do not tie up their credit, but can get a rental property at the same time.

A seller may have a concern when dealing with a sub2 deal. For example, what if the buyer does not pay the mortgage and it ends up as a bad credit item for the seller? Well, there are protections that are in place for sellers during subject 2 existing financing deals.

  • A single late payment can be a deal breaker. It can be made so that in this event, the buyer is in default and they lose the property back to the seller. This single possibility is reason # 1 for it being a rare scenario. Most subject 2 investors are seasoned. They have been doing it for years, and have made millions through rentals with such deals.
  • Limitation clauses such as one requiring the buyer to refinance the property in their own name within a set time period reduces the risk even further. Let's say that in 2 years time, the buyer is required to refi. By then, they will have accumulated enough equity by paying down your loan for this to be a possibility through traditional lending methods. Even in the worse case, they can secure hard money after that time in order to leverage additional time to flip the property or get other financing.

Contract for deed, or lease option

If you aren't in a complete hurry for a bunch of cash, you can sell on a contract for deed, or a lease option. This will ensure that the buyer is responsible for upkeep, insurance, taxes, and everything else, while giving you a monthly income stream with little risk. With either technique, you are getting a fast sale. The best part is that you retain the deed to the home until the buyer's obligations are met. If they default, you can simply evict them and start over again with a new buyer. The best part is that you are earning interest with your equity at a rate you agreed on in the sale.

FSBO (for sale by owner) doesn't have to be hard. It can be quite lucritive, and amazingly fast when you learn to be open-minded and creative.

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Source by Brandon Connell

How a New Realtor Can Get Their First Real Estate Listing

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Getting your first listing can be one of the biggest hurdles in the real estate sales business. There are many ways to get listings, but let’s just cover some of the fastest and easiest ways. I’ll assume that you will like to keep your marketing budget low for your first listing.

I always go back to this, but start by asking your family, your friends, co-workers, ex schoolmates, Facebook friends, and anyone else that knows you. Ask them of all the people they know, who would they say is most likely to be the next person that would think about selling their house. Get them thinking about it. Even if the person they tell you about is not ready to sell yet, you now have a good potential listing lead. You can follow up with them every couple of weeks, and even set up a buyer profile for them on the MLS to keep your name in front of them.

Another way to find motivated sellers is by looking for “for sale by owner” properties, and also by following up with expired listings from the MLS. Again, I am assuming your marketing budget is very low, so let’s go ahead and use an effective yet uncomfortable technique. You can do the same with expired listings. Go directly to the house, bring your marketing material, and knock on the door. What you will say is going to differ between these two types of potential clients, so let’s go through both sales scripts now.

FSBO sales script.

“Hello FSBO person, my name is _______, and I’m a Realtor at _____________. I just wanted to stop by and ask if you plan to use a Realtor to help you buy your next house after you sell this one? (Let them respond). The nice thing about using a Realtor as a buyer’s agent is that you do not have to pay a commission, that is paid by the seller. Can I get a little information about what you will be looking for so I can keep an eye out for you? I can even set up a profile for you on the MLS that will email you listings so you get a feel for what is out there, and of course these services are all free for you.”

Note: Don’t ask to list their house when you first meet them. Most FSBO’s think they will sell it themselves, then get tired of trying. If you are the agent that has been in contact with them during this time, then you have a great chance of being the one that lists their house.

Expired listing sales script.

(Use this the same day the listing expired on the MLS)

Hello homeowner, my name is _________. I’m a Realtor with _____________. I was just stopping by as a courtesy to let you know your home is no longer listed for sale on the MLS. Your listing expired today. (let them respond). Are you still planning to sell your home? (response) Why do you think your home didn’t sell? (Response) (If they are planning on relisting with their current agent, don’t waste any more time. If it is looking promising try to go straight in to a listing appointment, or at least try to set an appointment for the same day or at least within 24 hours.)

Note: Going directly to the persons house is time consuming, but more effective than mailings or phone calls. As your marketing budget grows, your time will become more valuable and you will not want to spend so much time going to all of these houses. Use these techniques effectively and you should be able to bring in some new listings within a week or two. It is a lot of hard work, and you will need to put in a lot of time, but this is a great way to get started spending almost no money.

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Source by Justin Razmus

Obstacles to For Sale by Owner (FSBO) Listings and How to Overcome Them

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You have probably thought about going the "for sale by owner" or FSBO route, but wonder what you'll miss out on by avoiding the high commissions.

After all, signing up with a regular commissioned real estate broker will take 6%, 7%, or even more right off the top of your sales price. And, that means a lot of money out of your pocket. So, many people are eager to go the "for sale by owner" route to get the most for their home.

So, let's look at what you may miss.

First, unless you first talk with some real estate agents you may not know what comparable homes have sold for in your area. Understanding what properties have sold for is critical to pricing your property to sell. If you price your home too high you may not be able to sell your property until you lower the asking price and become more competitive.

So, before you decide to go the FSBO route, get some assistance from several real estate agents about setting the right listing price.

Second, while you may have a sign on your front lawn indicating your house is for sale, only people who drive down your street will see your sign. You will have take further steps to expose your home to potential buyers. One of the best ways to do this is through your "Multiple Listing Service" or MLS. This is the database all the real estate agents in your area use to show properties. Many MLS databases are searchable from the Internet.

You can get your property listed on your local MLS for a flat fee. Flat Fee Listing [http://flatfeelisting.com/] works with brokers across the United States who will enter your property into the local MLS as well as other national sites for you.

Third, a real estate agent can help guide you in getting your home ready for showing to prospective buyers. As an energetic home owner you can find sources of information about how to show your home in it's best light on the Web or in bookstores. A home inspection will also help you know exactly what repairs need to be done to get your home into prime condition. Most buyers include clauses in their offers that make the purchase contingent on a clean property inspection report. You attention to your own inspection report will help eliminate or reduce negotiations regarding these contingencies.

Fourth, many people who look at "for sale by owner" properties expect the listing price to be below that of properties lists by regular brokers. They expect to share in your savings. By pricing your property just below competing homes, you will gain a price advantage that may attract so many offers you won't have to worry about buyer expectations of a further reduction in price.

Fifth, going the FSBO route may put you at a disadvantage when it comes to negotiations and legal matters. Selling a home is an expensive legal transaction and offers and counter offers are all part of a legally binding contract. Unless you have access to legal counsel or are very familiar with real estate transactions you will need to educate yourself in these areas. If might be wise to retain the services of a real estate attorney just to make sure everything you do is in your best interests.

Overall, selling your home requires a number of skills and a lot of patience. While you can do it yourself and possibly save some fees, you will need to gain some knowledge and do many tasks that a real estate agent can do for you. Remember that many people have sold their property on their own and you can too.

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Source by Bob Sherman

The Advantages Of For Sale By Owner When Selling Your Home

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When spring is in the air it means that not only is summer right around the corner but that the real estate market is about to pick up, and a serious amount of houses are going to be bought and sold over the next few months. The first question that is usually going to come up when someone starts to think about selling their home is if they should use a real estate agent or if they should try to sell the for sale by owner. In this article we will talk about what for sale by owner really is all about and if it is the right pick for your situation.

What Does FSBO Mean?

A for sale by owner sale is any type of sale that the owner is going to be handling the process by themselves. The home is not being handled by any type of real estate professional during the sales process. In the US it is not required to have a real estate agent during the home sale process, however some states do require a real estate attorney to be involved to make sure that everything is done legally.

The FSBO route can be done through a variety of methods. The majority of homeowners in the U.S. use the traditional for sale by owner process in which they mimic the process of an agent but become the agent of their own home. However, that is not the only method. FSBO sellers can sell their home during a home sale auction, trade the home with another owner, or sell directly to an investor.

The Advantages of FSBO

The most enticing advantage of FSBO is the savings of a real estate commission fee. When working with a real estate professional, they usually charge between 5 to 8 percent of the purchase of a home upon closing. This can be quite a significant amount for many homeowners. For example, if your home sold for $300,000 using a real estate agent, that would mean that you would forgo $15,000 to a real estate agent at the conservative percentage of 5 percent. That is thousands of dollars, even tens of thousands for many owners, that is taken out of the profit of selling a home that could be used for a vacation, college funds, and retirement savings. So why use a real estate agent if you don’t have to?

The Disadvantages of FSBO

The reasons that most people choose to sell through an agent is because the process of selling a home can be very complicated, time consuming, and tedious. If you are selling privately you are going to be responsible for listing, marketing, showings, negotiations, and the closing all by yourself. A buyer may ask you questions about the home or the home sale process that you are not sure of the answer.

Those wanting to sell in this way must put in the time and effort to be well-versed in the real estate process themselves and willing to do what it takes to get their home sold. Sellers that are unable to commit the time may have a house that stays on the market for months before the owner breaks down and uses a real estate agent. Thus, if you have full time job or business, a huge family, or an otherwise full life or going through a large life change, it will be difficult to sell your home on your own–not impossible, just difficult.

What FSBO Doesn’t Mean

Just because you are selling your home on your own does not mean that you have to do each step of the process on your own. There is more to the real estate world than just buyers, sellers, and agents. For a flat fee, a listing agent can help you list your home. A home appraiser can evaluate your home for the best selling price. A real estate attorney can walk you through the details of any offer right up until closing. Thus, you can still have professional help in parts of the sale that you are not comfortable handling.

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Source by Melissa Gifford

Need To Sell House Fast? Cash Buyers Name Benefits Of Quick Sales

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Selling a house can be a truly stressful experience. You will need to find a trustworthy real estate agent, get your home properly appraised to know its real value, prepare the property for viewings, and hope that a prospective buyer can get a mortgage for the transaction to fall through. Not only do these tasks take so much effort, they can also take lots of time to complete – in fact, waiting to find the right buyer can take months or maybe even years! And if you are in a situation where you really need to move on and be free of your property quickly, such as a divorce or nearing foreclosure, the stress can increase exponentially. In these cases, you certainly need to find alternative ways to sell your house in a short amount of time.

If you are wondering, "How do I sell my house fast?" Property experts suggest looking into direct sales to cash buyers. There are many benefits that come with selling to cash buyers, and the first is very simple: you can sell house fast. Home owners only have to fill out a form, give their contact details and information about their property, and in a short amount of time, they will be contacted by the company with a guaranteed offer on the property. The company buying the property will then conduct a survey of the house by hiring an accredited surveyor. The value of the property will be calculated accordingly, and in a few days or weeks, you can hand over your property and get paid without any delay. This is particularly helpful for people who need cash funds as soon as possible, such as old couples who need funds or cash from the sale of their property to secure and transfer to a new home.

In addition to speedy transactions, selling your house directly to cash buyers is also beneficial in that it is very convenient for the seller. In a quick house sale , home vendors do not have to handle all the paperwork, nor do they have to hire surveyors or lawyers to manage all the legal aspects of the transaction – all these are handled by the company buying the property. A direct transaction with the buyer also means that there are no middle men to handle negotiations, and this is why this kind of sale takes so little time and effort to complete.

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Source by Steve John R. Smith

Selling My House in Columbus, OH

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Columbus, Ohio is a thriving metropolis full of ethnic diversity and an active nightlife. Whether your home is in one of the suburbs, like Reynoldsburg, or you are in the downtown area makes no difference. When you need to sell your home, you need help! Since the housing market has rebounded nicely in the 614, you can ensure that when it comes to getting fair market value for your abode that it shouldn't be any problem. Have you ever thought, "I need to sell my house fast," well, here are some tips to help.

There is good news for those who want to get the most out of their real estate investment. In Columbus, the average home sale is up 6 percent for 2017 compared to 2016. The median average sales price in this area is $ 154,900. Of course, if your home is in the Upper Arlington area you are going to get more money than if it's located in Whitehall. Supply and demand play a great deal in how much you will get from your home, and it's all about the location.

Buying a home has most people stretching their budget. However, according to an ad in the Columbus Dispatch, it costs more than $ 11,838 to sell a home each year here. So, let's examine the numbers. Sellers must pay their real estate agent an average of 6.5 percent. If your home sells for $ 175,000, then you would owe the agent an astounding $ 11,375.

What about your other fees? Just to get top dollar, you may need to paint, do some other remodeling and put more money into your home. Now, if your home sells within the first month being listed on the market, then your challenging work has paid off. However, homes can sit on the market for months even years before sellers can get their asking price.

If you have already bought another home, you could be paying insurance, upkeep, and mortgages on two properties. It's easy to see why a fast sale is the best answer. Again, your neighborhood and the demand in the area means everything.

From May 24 to Aug 23 of 2017, reports show that 1,911 homes sold in the area. The average price per square foot is $ 110, which is up by over 10 percent. More than 47 percent of people own a home in this region, and the average income is $ 38,095. In Dublin, the average sales price is $ 290,000, which is an increase of over eight percent. Things are looking good in this area for growth and selling your home on the market shouldn't be hard. However, you must make sure that you have the right house in the right neighborhood to get that quick sale.

If you are wondering, "how to sell my house fast," then you may want to consider options that can help you get out of your home quick.

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Source by Shaun Greer

Why You Should Hire a Realtor

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There is so much information out there, especially with the internet. Many people may think getting a real estate agent is not really a requirement. There are some people who choose to sell their homes through the internet using advertising channels as well as regular channels. As much as this works for some people, some fail miserably without representation. There are many reasons why you need a real estate agent working with you and they include:

Experience and education

When you choose a professional realtor, you will not have to know all there is to know about selling and buying in real estate. Finding the right person is a must. They will know more about how to negotiate and at the end of the day, you will get the best price regardless of whether you are buying or selling.

An agent will cushion you

When it comes to property showings, there is lots of spam involved. When you are buying a new home, the agent will keep the agents at bay and therefore you will not be lied to or misled. The agent will filter phone calls if you are selling. He or she will try as much as possible to get someone who is seriously making an offer.

Knowledge of the surrounding areas

Agents have a great knowledge, especially when it comes to neighborhoods. They can give you detailed information about an area that you are interested in. This is the only way you can make comparisons and decide on where to invest. You can inquire about schools, demographics, or even crime. If they don’t know too much about a place, they know the best places where they can get the buzz from.

Guidance on price

Many people think that an agent sets the property price, but this is far from it. An agent usually guides the clients to make good choices. When the listing is at say 7 percent, then the agent has got 7 percent interest in the sale while the client stands at 93 percent. The selling agents usually ask buyers to consider all the data that has been supplied and then settle on a price. Based on the conditions and demands, the agent now has the task of coming up with a strategy for negotiation.

The market conditions

A real estate agent is the best person who can tell you how the market is like currently. This governs the whole buying and selling process. There are many factors that will determine what to do next. Criteria like average market days, average and median prices, costs of same homes, and ratios of the listed to the sold prices are used to determine what needs to be done.

Networking

The agents are often connected to other people on a professional level. Such people provide all the services needed. There is a legal liability that keeps an agent from recommending someone or a company over others. However, they are aware of the reputation of the vendors in terms of pricing, competency, and efficiency.

The agents can offer you some references, especially when it involves people that they have already worked with.

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Source by Shalini Madhav

Selling Your Home Privately

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When you think about selling your house privately one thing to consider is to decide where to place all of your furniture and anything else in your house. Well this is quite right but selling a house means also to get rid of all the debris, to fix all the damage in the home, to determine the price of your house, and also to make an advertisement in the newspaper.

Selling a house requires long planning and you need to do it before you choose to sell. You need to dispose of your feelings with your house and consider it as a valuable investment. When selling your house the people who would like to purchase it should think of it as their potential new house not as your old house.

Next what you must do when selling your house is dispose of all the clutter in your house. Maybe you are emotionally connected to some of this clutter and I remind you once again you need to get rid of your feelings. Look at all clutter in the closets, garage, attic, and basement. You do not want the purchaser to come to see the clutter in these places.

And then you really need to fix all the damage before you attempt to sell. But let me inform you, fixing the damages when selling a house does not mean you need to do something expensive for example renovating your property. You have to save your cash to purchase your new house or to get a new loan. Checking the light, water, closet and bathroom is an excellent thing to do before selling your house privately. Check the flooring, walls, ceilings, doors and windows before you sell.

Maybe the hard thing to do when selling your house privately is to determine the price of your house. Do not set your selling price too high when selling your house privately because it might be tough to find a buyer. And if you lower your price later it may be too late. Selling a house in about six months is a long time and if no one buys your house in this time period the other buyers might think that you will be eager and they will make a cheaper offer. So selling your home requires wise thinking and deep consideration to set the price of your home.

Next thing would be to create an advertisement about your house inside the classifieds. You need to make an interesting but not exaggerating one because folks may think it does not make sense if you made an advertisement like that. And after you advertise your house and there is somebody who is interested in purchasing your house you need to show your house to them. Try not to be home when they arrive to see your house. Keep your home neat and dispose of your kitchen trash. And in the end your house might be sold for the price that you desired.

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Source by Demetrius Weatherspoon

How to Sell a Home – List With a Realtor or For Sale by Owner (FSBO)

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There are a variety of factors that motivate home owners to sell their home without the assistance of a Realtor. Primarily it is to save the real estate commission or the concern that there is not enough equity to cover the cost of selling and mitigate the expense of the new residence. If the later is the issue there may be no alternative but to go it alone. On the other hand realtors are quick to point out that statistics indicate that homes listed with a Realtor will sell at a considerably higher price than the “for sale by owner”. Considering the market exposure the Realtor can provide it would seem logical to assume there is validity to this claim but there are certainly exceptions.

There is another irritating but compelling rhetoric that Realtors frequently allude to when soliciting a listing from a home seller. “The three most expensive non elective events that most people are potentially faced with are doctors, lawyers and housing. Would you perform you own surgery or defend yourself in court? Why wouldn’t you need a professional to sell your home”? This is possibly a valid analogy but does not necessarily encompass the factors that motivate the seller to take on the task personally.

There are services available that provide the guidance, forms, signs and legal advice at a reasonable price to technically get the job done. There are even on line listing services that may provide some exposure and augment media advertising. If the owner has a “hot” property that shows well, is exceptionally maintained and is in a “hot” neighborhood there is a good chance for a favorable outcome in the effort to sell without a realtor.

As they say “the devil is in the details” and that is where the Realtor has a great advantage. A well located property properly “staged”, properly priced and well exposed to the buying public will sell quickly in most markets. Staging means that it has been brought to market condition and that there are no blatant eye sores. Staging, pricing and particularly exposure are the “big three” when it comes to a timely sale and the absence of any one of the three can create a deficiency that is hard to overcome. Homes that sit on the market for months on end become “shop worn” and usually sell for a greatly reduced price than they would if the seller subscribed to an objective approach from a professional. In addition, the FSBO has been making mortgage payments during the months it has been floundering on the market.

The real estate company listing the property will normally bring a full basket to the first picnic. They know that the best way to avoid an expired listing and significant expense is through a quick sale. Exposure is the key and owners can’t compete with the realtor’s resources. The listing is promoted to all of the agents in the company’s office and multiple listing services expose the listing to hundreds or even thousands of agents and their clients. Open houses accompanied by media advertising on weekends are very effective. Statistics indicate that a high percentage of sales are to buyers who live within a close proximity to the listed property because of the reduced disruption of life style factors. Open houses can bring them in.

When there several competing properties on the market in the same neighborhood the “for sale by owner” is additionally handicapped. Most buyers do not relish the prospect of negotiating with the owner so the exposure generated by the competing listings does not necessarily mean more exposure for the FSBO. The agents showing those properties may route their clients away from the FSBO when possible and will frequently invent a reason for the buyer to avoid that property. Unless the community has exceptional attributes, there are only so many potential buyers for that community at any given time. Those who sell first have a distinct advantage.

Furthermore, it is difficult for the homeowner to evaluate the competition and the market in general. Gaining access to the competing properties on the market and recent comparable sales is cumbersome at best and there are frequently factors that are not readily apparent. An example is the comparable property that sold for a great price but the contract required the seller to pay 6% of the buyers closing cost. This is not an infrequent occurrence in today’s marketplace.

In summary, this article does not make a very good case for the prospective FSBO but those who are selling an exceptional property in a desirable community might give it a try. It may not damage the realtor’s effort when finally listed but don’t let the ego interfere if it doesn’t go well in the first thirty days. For those who must save the real estate commission, consider interviewing three high producing realtors and presenting the problem to them for a solution. Realtors and their companies spend a considerable amount of money marketing their listings so if they will not accept the listing at or above the sales price required to make the transaction work one must assume that there is no other choice but become a FSBO or make other plans. If they all concur on a listing scenario that will solve the problem and everything else is equal, pick the one who is the most knowledgeable about the recent history of the community but make sure the agent is committed to aggressive marketing. One should consider that it is frequently the real estate agent that rejects the overpriced listing that is the wisest and most professional.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg
Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
Wir verkaufen für Verkäufer zu 100% kostenfrei
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Source by Michael B Roche

The Benefits of Flat Fee MLS Listings

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Home sellers today have multiple options for listing their homes for sale and in the current economy, many are opting to go the route of ‘For Sale by Owner’, more commonly coined as ‘FSBO.’ While employing the FSBO sales method may be cost-efficient, there are also limitations that one does not face when employing a real estate broker.

One such limitation for FSBO sellers is the inability to use the Multiple Listing Service (MLS) directly. The MLS replaces an earlier system wherein each real estate company had its own ‘internal inventory.’ With the MLS, real estate agencies post their inventories in one central database for the geographical area, which is open to the public for viewing. Sellers employed “selling agents” to place their property on the MLS for a commission on the sale price, often between four to seven percent, paid to the selling agent at closing.

Increasingly, more brokers are offering flat fee MLS listings to FSBO’s and any others interested in the service. With a flat fee MLS listing, a broker provides the service of placing information about a property into the MLS system for a one-time low fee.

This service has a positive effect for all parties, buyers, sellers and real estate agents. From the buyers’ standpoint, the MLS provides a more straightforward way to look at a range of properties. Buyers also know that since FSBO sellers operate without an agent, there will be one less cut taken out of the sale price. From the sellers’ side, it is important to utilize the MLS in the sale of their real estate and the MLS flat fee listing service is the most economical method to sell a real estate property. For the broker, while the MLS flat fee listing service decreases the revenue stream under the selling agent method of yore, the broker receives payment immediately at the time of service. It is a win-win method.

The idea of flat fee MLS listings is also part of a greater movement where Web access to information is reshaping conventional business methods. Traditional systems that operated on a more closed information pattern are yielding to more flexible purchasing strategies for large investments like cars and homes.

Flat fee MLS listings are one of the most economical and efficient methods for sellers to get information about their real estate on the market and into the public eye. They are a low fixed cost alternative to high buyer and seller agent commission fees.

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg
Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
Wir verkaufen für Verkäufer zu 100% kostenfrei
Schnell, zuverlässig und kompetent


Source by Jim Powell

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