FSBO BLOG

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.

Third quarter results are in for the FSBO.com Home Index.  Here is a brief summary of what our survey found…

Regional Results…

View more information on FSBO.com - http://www.fsbo.com/press-room-51/

What do you think?  Are these results consistent with what you are seeing in your area?

HGTV is currently looking for First-time Home Sellers to be part of their new show “My First Sale”.

Here is a brief description of the show and what they are looking for…

“MY FIRST SALE, a brand new show on HGTV, is kicking off its first season and looking for first-time home sellers in the Denver/Metro area.

Taping is getting underway this month. Ideal candidates will be interesting, energetic, financially open (people who don’t mind sharing frankly on camera about the experience and the purchase details.)”

If you are interested in participating, please leave a comment with your FSBO.com ID #.

Hopefully this will turn in to some NATIONAL media exposure for your property!

Need more exposure for your property?  Are you willing to pay a Buyer’s agent a commission?  FSBO.com offers Flat Fee MLS Listings which will list your property on your local MLS as well as Realtor.com.  And here is the best part - we are running a special for the month of August…

Save $50 off our regular $399.95 price!  Click here to list on the MLS for $349

Here is a brief description of the package…

One time set up fee to list your property on your local MLS and Realtor.com for six months with one photo. This gives your property exposure to thousands of local real estate agents and millions of potential buyers. If a broker brings you a buyer and you accept an offer you will need to pay them a commission. All commission is negotiable, but the average is around 2.5-3.5% and will need to be stated up front upon entering the MLS.  *After submitting your FSBO.com listing, you will be contacted by a licensed agent to complete the MLS listing process.  

This offer is only good on US properties until 8/31/08 and is not valid on prior purchases.

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.

The bill recently passed by the Senate and Congress will provide mortgage relief to some 400,000 struggling homeowners.  It will allow them to get more affordable mortgages backed by the Federal Housing Administration (FHA).  The FHA could insure $300 billion in such mortgages. Banks would first have to agree to take a large loss on the existing loans in exchange for avoiding an often-costly foreclosure.

The bill should help those who are threatened by foreclosure, and allow them to keep their home by proving they can afford a new loan.  The bill will also offer a $7,500 tax credit to first time homebuyers.  This incentive could help get more first time buyers to get out there  looking and making offers.

More information can be found on the USA Today Website at:  http://www.usatoday.com/news/washington/2008-07-26-senate-housing_N.htm.

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There have been a few articles written recently debating the accuracy of certain company’s foreclosure data. Mainly regarding the prices associated with foreclosure and pre-foreclosure listings.  FSBO.com has been partnered with Foreclosure.com for more than 5 years, and could not be happier with the reliable data that they provide our customers and the speed at which they respond to any customer service issues we send their way.  Please take a minute to read each of the two articles below

Foreclosure.com Article:  “Free foreclosure listings: What is right and wrong”

Inman News Article:  “When prices are too good to be true”

Both articles received blog comments from industry professionals, Realtor’s, and CEO’s of similar Foreclosure websites.  I am curious to hear what actual consumers think about all of this.  Do you feel tricked, or mislead by sites such as the ones mentioned in the articles?

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FSBO.com is pleased to announce that we have a new Video Player available to all of our Home Sellers. The new player allows the seller to Email, Link, and Post their personal property video anywhere on the web. The player provides Embedded Code so you can post it on your personal Websites or Blogs, as well as a unique URL (web Link) that you can send and post.  The seller’s contact info and link back to the FSBO.com listing will automatically be entered into the player so potential buyers seeing your video on other sites can contact you, see information on the home, as well as get direct access to your listing on FSBO.com.

Sample Video:

FSBO.com can accept the following video formats: AVI, MPEG, and MOV (Quicktime) *note – at this time we cannot accept .FLV file formats. There is no max time, however in our experience the most impactful videos are between 1 and 3 minutes long.

In regards to resolution, all videos are compressed and converted into a flash video format using an ideal resolution and frame rate for web delivery. There is no minimum or maximum resolution requirement for the source video.

Please feel free to leave a comment with a link to your video, blog, or personal real estate site to show others your Real Estate video.

The FSBO.com Home Index second quarter results showed an average savings of just over $10,000 in real estate commission. This was comparable with first quarter data and confirms significant savings for homeowners. Properties sales’ price held steady, selling for 96% of the asking price. The average days on market increased from 93 to 114 days.

See the full release on our website - FSBO.com Press Room

I was caught off guard the other day when one of my new friends from Costa Rica asked me what Memorial Day was, and why we celebrate it.  My answer was close, but not entirely accurate.  So I decided to survey the few FSBO employees that made it to the office today, and was pleased that their answers were also about 85% correct.  Either way, I have posted the technical definition from Wikipedia below.  Have a great and safe weekend.  FSBO.com offices will be closed on Monday, May 26th in observance of Memorial Day.

http://en.wikipedia.org/wiki/Memorial_Day
Memorial Day is a United States Federal Holiday that is observed on the last Monday of May (observed in 2008 on May 26). It was formerly known as Decoration Day. This holiday commemorates U.S. men and women who have died in military service to their country. It began first to honor Union soldiers who died during the American Civil War. After World War I, it was expanded to include those who died in any war or military action. One of the longest standing traditions is the running of the Indianapolis 500, which has been held in conjunction with Memorial Day since 1911. It is also traditionally viewed as the beginning of summer by many, since many schools are dismissed around Memorial Day.