For Sale By Owner Real Estate Blog.
BOCA RATON, Fla., Oct. 24 /PRNewswire/ — Foreclosure.com today announced a partnership with Indymac Bank(R) - the seventh-largest savings and loan in the nation - to market and facilitate the sale of thousands of Real Estate Owned (REO) properties via the Internet, adding another major national lender to its growing stable of prominent data sources.
Most agents approach FSBO’s with one thing in mind: getting the listing. A good agent can differentiate themselves from the others and create some earning opportunities by looking beyond the listing.
NAR’s 2003 Home Buyers and Sellers Profile reveals 74 percent of sellers will list with the first person that has contacted them. In the FSBO market, this can lead to a problem, because it usually takes 30-60 days before that FSBO is discouraged enough to list their property. So, what do you do in the meantime?
The most successful agents are building relationships with those sellers and providing value. In his book Influence, Robert Cialdini makes the case that most people are very uncomfortable owing someone else and will do whatever they can to even the scales. As an agent provides value for a seller, that seller feels more and more obligated to balance the score. He call this the Reciprocity Principle.
So, what ways can you make it easy for them to give back to you without listing?
Here are some ideas:
If your focus is on creating value and discovering how this could be a win-win, you will be seen as a helpful professional, instead of a pushy sales person. Many agents ignore FSBO’s as a way to build their businesses because it feels too aggressive for their natural style and way of connecting with others. By focusing on these ancillary areas, this profitable market niche can create a source of steady, new income.
It is a sad commentary on how ineffective our industry has been at educating the public to the value of a real estate agent that most For Sale by Owner (FSBO) sellers believe that it is easy to sell a home. They think a sign in the yard, an ad in the paper and an open house will get their house sold. Sometimes they are right!
TUCSON, Ariz., Oct. 2, 2007 (PRIME NEWSWIRE) — GainClients, Inc. (Pink Sheets:GCLT), a provider of On Demand real estate marketing, is preparing to launch its new marketing software, E-Listing Advantage, to the For Sale By Owner (FSBO) market. E-Listing Advantage is an innovative marketing tool for mortgage professionals that allows loan officers to provide a syndicated listing service for FSBO listings (sellers) for free.
As Canada’s real estate market continues to defy popular predictions of a slowdown, privately-transacted sales are keeping pace as homeowners look for ways to pocket the fees usually collected by real estate agents. Many owners are now choosing to bypass real estate agents to sell their homes themselves in order to save the average six per cent commission most agents charge. On a $250,000 home, this can amount to $15,000, a hefty sum for most Canadians.
When Craig Blackmon sold his Seattle home two and a half years ago, he did what most sellers do — he contacted an agent.
As an attorney, he appreciated how complex the transaction could be. Still, there was that commission to pay — about $25,000, split between his and the buyer’s agents on the $482,000 home.
Next home he sells, he plans to go it alone.
The trend for selling houses on the internet appears to be on the increase as Private Seller or ‘For Sale By Owner’ (FSBO) websites fight for sponsorship advertising space on Google Search. A UK based search conducted on the British Bank Holiday 27th August 2007 for search terms ‘Sell My Property’ reveal over 90 FSBO websites fighting for exposure on Google sponsored advertising space.
DEAR BOB: We are buying an out-of-state house. The closing is scheduled for about two weeks from now. It is a “for sale by owner,” and the sellers aren’t too knowledgeable about the sales process. We just received a document from the title company listing the recorded liens against the sellers. The list includes a lien from the state’s Bureau of Child Support for more than $12,000 and deferred property taxes for about $2,000. None of these liens were previously disclosed to us. If the sellers are unable to pay these liens at or before the closing, what are our options? We don’t want to be homeless when we arrive in our new city if something goes wrong with the closing. –Rebecca L.
DEAR REBECCA: If the sellers will be receiving sufficient cash from the sale to pay off the child support and property tax liens, then they will be able to deliver marketable title to you.
Fizber.com, for-sale-by-owner real estate website, introduced a new tool for home buyers – all home listings are displayed with Google Maps making your search more exciting and dynamic. You can either get a list of homes or use a cool Google Maps feature to browse listings. Fly around a neighborhood with Google maps and see the houses for sale in your area. Click on an individual house for the selling information, house details, etc., all for free and no strings attached. Fizber shows the results via Google Maps with the listings on the left, with photos of the property if available.
Do-it-yourself is a familiar concept to frugal consumers. If you’re handy, doing home repairs yourself can save a bundle, for example.
But do-it-yourself doesn’t always pay. One prime example is selling a home by yourself.
Selling a house without using a real estate agent is tempting because, if successful, you could save thousands of dollars in sales commissions. Saving that money might be even more appealing if you had to slash the asking price because of a sluggish real estate market, which is where most home sellers find themselves today. It could also be enticing if you had an exotic mortgage that added borrowing to your principal, and you owe more than your home is worth. You also may simply want complete control over the selling process.