FSBO.com just wanted to clear up any confusion that there may be about a recent press release from yesterday claiming YOU can list a property on Realtor.com without an agent.One of the most popular questions www.FSBO.com receives is “Can I list my property on Realtor.com without using an agent and listing in the MLS?”.The answer has always been, and still is “NO”!
There is absolutely no way to list your property on Realtor.com without first having it listed in the MLS.There is absolutely no way to list your property in the MLS without using a licensed Realtor.The only thing you can control is the actual amount that you pay to have your property listed on the MLS and Realtor.com.
FSBO.com and similar companies have services that allow you to do this for a flat fee as opposed to a commission.Any company claiming to be the only, or first to offer this type of service has been mistaken.
It has been said that Real estate listings online with photos receive 300% more traffic than listings without photos. I know that no matter what I am searching for online (houses, cars, couches on Craigslist, etc..), I skip right over any listing that does not include a picture. So why are there still so many listings out there without photos (FSBO.com is happy that approximately 85% of its listings contain at least one photo)?
Some owners will say they do not own a digital camera, or do not know how to post photos online. Others may cite privacy issues, or not having enough time to do it themselves. No matter what the excuse, it is crucial that you post photos to your listing online. It will first get buys to stop and view your listing, and it will then let them know that you are serious about selling since you made the effort to create a complete and professional listing online.
Listings without photos send a message to everyone viewing it that you possibly have something to hide… my suggestion is to take that guess work out of their hands, and post as many photos as you are allowed. FSBO.com currently allows for unlimited photos on every FSBO.com listing.
I am happy to say that Video Number 4 is now ready. In this video I show you the steps I took to prepare the outside of the home. They say that curb appeal is the most important part to preparing your home for sale. If the buyers do not like what they see from the outside, they will most likely not waste their time looking at the inside. Below the Video Player are details on each project that I completed, as well as an update on the new idea I had that is mentioned in the last part of the video. Enjoy…
Projects: Pressure Wash House and Vinyl Siding: Due to current water restrictions in Georgia, I was not allowed by law to do this myself. I was forced to hire a professional. Total cost was $120.00 to clean and pressure wash the entire outside of the house, driveway, and back patio. Had these water restrictions not been in place I could have done this myself for free, since I have access to a pressure washer, and it would have taken me about 3 hours.
Mulch Front Yard and Tree Bed: I bought 8 bags of red mulch at Home Depot for $3.33 each. Even though the mulch that was there was fine, new mulch just has a richer color to it, and looks much better.
Trim Bushes: Most experts will tell you that your bushes and trees should never touch the house. This was a simple and free job that did not take very long, but make a huge difference in the curb appeal of the home.
Pine Straw and Lawn Mowing: For this I did hire a professional. This did two things for me, saved me a lot of time, and allows me to advertise that the house is professionally landscaped. Before they laid the pine straw, they sprayed special chemicals that I would not have any access to that will prevent weeds from growing back up through the straw in a week or two. Second, they got a much better price on the 25 bales of pine straw that they used for the job. The cost, and time it would have taken me to lay 25 bales would have been a much bigger burden than paying the $250.00 it cost me.
Window Washing Pretty straight forward and free, but must be done.
So, that is all for my landscaping and curb appeal tips. It’s now time to get to the marketing. My home has been on the market for 11 days now, and as promised in the video, I have not shaved / trimmed my beard since then. (Disclaimer: Mike reserves the right to shave his beard at anytime he deems necessary, but will try his best to get the home sold before that happens)
I am happy to say that my listing is finally live and posted on the website. I added 21 photos of my property, and will be working on getting a video posted this weekend. I purchased the FSBO.com Gold Package for $99.95 which means I have a professional Yard Sign with my phone number and Listing ID#, a Brochure Holder, and 50 color brochures. Don’t forget that I also got the FREE directional arrow for the front of the subdivision that is included in that package to drive traffic into the sub from the main road. I am about to leave a comment on the Open House Blog to receive my 2 FREE Open House arrows since I am participating in the National Open House Day both Sat and Sun this weekend.
I have also posted my Open House on Craigslist as well. I hope to have another video posted for you this week, to show you the work I have done outside of the house, and then will quickly follow that with my “Marketing” video, to show you how I plan to maximize my exposure online and off.
I will not be giving out my listing ID#, as that would give me an unfair advantage over other FSBO.com customers.
This is a reminder to anyone participating in our National Open House Day next weekend that time is running out to receive a FREE Open House Sign. All you have to do is leave a comment on this blog, or my previous blog about National Open House day with your FSBO.com ID# and the time and date of your Open House, and we will send you a free open house sign/arrow to help you drive traffic to your home.
As a bonus, we will now be sending TWO FREE Open House signs to anyone who comments from now until Monday night at Midnight!!!
Our professional photo affiliate will compile a professional slide show using YOUR photos (up to 20) that includes nice graphics and music. The unique FSBO.com player allows you to share this as a link, or as an embedded code (like I have done above) on any other website or webpage you might have access to. The player will include Contact and Property details. Once you order the Gold Plus Package from FSBO.com, our affiliate will contact you with further instructions on how to submit your photos. FSBO.com will automatically add this tour to your listing once it is complete.
In preparation of the FSBO.com National Open House Day coming up on May 17th and 18th, I wanted to ask YOU a few questions to get your feedback on holding Open Houses based on your past experiences.
What are the best times to hold and Open House?
Which is the better day: Sat or Sun?
How do you handle multiple prospects in your house at one time?
Should you be worried about your safety?
What did you do right, what did you do wrong?
As for me, I plan to hold as many open houses as my schedule will allow for. My house will be open on both May 17th and 18th, starting around 9:00AM. I plan to have some light Hors d’oeuvres and refreshments to keep people in the home for as long as possible, a large stack of brochures, and all of the paperwork necessary for those buyers to make an offer which I purchased from FSBO.com’s Real Estate Contracts page. Since the house is vacant, I will bring a comfortable chair and a book to occupy myself while there is no one at the house.
I’ll post pictures for everyone of my National Open House Day experience after the event. For now, I’d like to hear your stories, or plans regarding open Houses you have had recently.
NOTE: If you want FSBO.com to send you a FREE Open House Rider for your property, simply post a comment on my first blog on the National Open House Day.
May Day, May Day, it’s time for National Open House Day!
Spring has sprung, spring cleaning is done-it’s the perfect time to sell your home! In recognition of May as “National Prepare to Buy a Home Month,” FSBO.com has set two dates (May 17 and 18, 2008) for “National Open House Day” to give our customers increased flexibility to participate in this event. I encourage all of our current customers to add either date to their online “Open House Calendar”. We now give buyers the opportunity to search strictly by Open houses in their area, so it is important to post this info ASAP.
As part of the promotion for this event, I want to give each and every one of you a FREE “Open House” sign for your yard or subdivision. Due to the large number of listings we have online, it won’t be possible for me to do that. So, in order to receive your FREE Open House Sign/Arrow, you must first post the May 17th or 18th Date on your Open House Calendar, and then leave a comment on this blog with a link to your listing or with your listing ID#. Once I see that you have the open house dates set, I will ship you a Free Open House sign/arrow.
P.S. I will be holding an Open House on both days for my home that I have been making the videos for. Good Luck!
I am happy to announce the latest version of FSBO.com has now been launched. Among the many new features we have added, the most notable is the addition of our ability to take Rental and international Listings. We now also allow our users to upload an unlimited number of photos to each listing at no extra charge. Please visit www.FSBO.com to check out the new site, and to give me your feedback.
It is currently FREE to add your Vacation Rental, Long Term Rental, and International Listing to FSBO.com. Please add yours today.
NEW FEATURES FOR SELLERS:
UNLIMITED PHOTOS
You may now upload an unlimited amount of photos at no additional cost
FREE VIDEO UPLOAD
You may now upload one video to your listing at no additional cost
Professional Editing and Photo Tours Available in the Video Section
NEW MESSAGE CENTER
Double Duty: You no longer have to log in to check your messages. Messages will be sent directly to your email address, along with a copy of that message saved in your message center for later review.
Report Spam - You can now report scam emails directly to FSBO.com with a click of a link
New Open House Features
Enter Unlimited Open House dates - Add as many Open House dates that you have scheduled (or add them as you go along in the process of selling your home
FSBO.com now gives Buyers the ability to Search by Open Houses in their area so be sure to get yours posted right away
New Hit Counter
Your hit counter will now display both “Total” Visitors, and “Unique” Visitors.
Rental Property
If your property is also available as a rental, you may automatically add it to our New Rental Section at no cost! From your registered user’s area, you can select “Add as Rental” and we’ll automatically copy your property listing information over for you. From there, you can then edit your Rental record to include more specific rental information to your potential new renters!
This third video takes you behind the scene of what every FSBO seller should be doing while they get prepared to sell their home For Sale By Owner. I believe it is important for sellers to be as prepared as possible so that they in no way delay the buying/selling process, or lose a potential sale because they did not know what the next step is, or waste time with a non-qualified buyer. Enjoy the video, and scroll down to see a copy of all of the questions/answers Kal and I spoke about that were not captured on Film.
A big thanks to my good friend Kal Wayman, National Sales Director of Amerisave Mortgage for taking the time to sit with me. If you need a Mortgage or Refinance “You Owe it to Yourself” to visit Kal at www.gotkal.com (Nationwide).
Q & A: Mike Malkasian and Kal Wayman
Mike: Before you read the info below, I wanted to give my opinion on why it is important for you, as a seller, to speak with a Mortgage company first. If the answer to your first question to the buyer, have you already been pre-qualified, is NO, you want to be able to refer them immediately to someone you know and trust before getting into any further negotiations. Give them two people to call, and tell them to get back to you after they have their pre-qualification letter. This will save you a lot of hassle.
Ok, full interview below:
As a seller, why is it important for me to talk to a Mortgage Broker even though I am not the one that will be seeking financing?
As a seller you want to make sure that you are spending your time efficiently. The more people you can get in and out of that home the more likely you are to sell it. The last thing you want to do is to go into intense negotiations with a prospect that may not be qualified. Even worse than wasting your time negotiating with an unqualified prospect, what if you actually signed a contract with that person! You then would be stuck in a position where you can’t accept offers from other possibly more qualified buyers. You may lose an offer because of that and all because of what…. If the initial person you signed a purchase agreement with never closed you have wasted your time and resources and may have even lost a sale. You should always have a reliable mortgage broker ready to qualify any potential buyers. You see this every day now in the current market. If you buy a bank held property it is very common nowadays for the bank to require you to be prequalified by them (not an outside source) before they will sign an agreement. Once you build that relationship with a mortgage broker, he or she should be happy to sift through the potential buyers and tell you who’s qualified and who’s not qualified so you can properly focus your selling efforts.
Should I accept an offer from a buyer that has not been pre-qualified/approved?
No, absolutely not! You should always make sure that a buyer is pre approved before accepting an offer. The last thing you want to do is waste your time and resources and possibly lose a bid from a more qualified buyer.
Once I have an accepted offer from a pre-qualified buyer, do I need to hire my own attorney, or will the mortgage company’s attorney handle everything?
Typically the seller chooses the closing attorney. Sometimes the buyer negotiates to use their closing attorney but not often. If neither the seller nor buyer has a preference, the Mortgage company can help both parties select one.
As a buyer when and why should I contact a Mortgage Professional when searching for my next home?
You should contact a mortgage broker before you even start shopping! The reason for that is simple Mike…. Before you know what type of house to look for, you need to know what kind of house you can afford! If you were on a budget and were planning a date, would you not look at the menu first before scheduling a reservation?!? With all the different loan programs out there nowadays, a lot of people don’t even realize how much home they really can afford! Of course, as a buyer you always want to make sure you don’t overextend yourself and that you will accomplish your correct goals at the end of the mortgage as well.
What information would you require to get me pre-qualified/approved?
In order to get pre approved you need to provide proof of employment, income, and assets. Employment is confirmed by copies of recent pay stubs. Income is confirmed by copies of last 2 years w-2’s or tax returns. Assets are confirmed by copies of last 2 months bank statements (checking, savings, retirement)
What is the benefit of getting pre-approved/approved before making an offer?
Well, as noted before…. First off you know that you can afford the home and that you are not overextending yourself. 2nd and also very important…..It helps strengthen you offer when presenting your bid to a seller. A lot of times, sellers won’t even accept an offer until they see a pre approval letter. If they see one at the very beginning, they will probably take you more seriously and probably be more willing to negotiate on the front end.
Does it cost any money to get pre-qualified/approved?
Typically no. It should not.
Once my offer is accepted, what happens next?
The buyer should then start the loan process. Within 30 days of the estimated closing date the buyer should lock a rate, and fill out the loan paperwork. The mortgage company will then order title and appraisal. The mortgage company will also submit the file to be processed and underwritten before the buyers funds are released to the closing attorney to distribute accordingly to all parties.
What concerns should I have if no Real Estate agents are involved?
You should be concerned with what you are going to do with the extra 3-6% you saved!
So, from your point of view, what is the major difference when you are doing a FSBO deal compared to a traditional one with agents involved, and what can the FSBO parties do to make the process go smoother?
Well, the main difference is you save a lot of money! Yes, you give up the hand holding that an agent provides, but let’s be real here. Times are changing. People use to use stockbrokers to trade their stocks and pay excessive commissions. Now everyone does it themselves online for pennies a share or flat rates. Technology has allowed us to be more efficient with mortgages and securities. Why not use technology in the home buying and selling process. By eliminating agents you are able to save money because 6% of commissions are eliminated from the transaction. That money is then able to be put in the pockets of the most important people involved with the transaction…… the buyer and the seller!
