Attention Home Buyers

Notice Consumer Warning!! Attention Home Buyers!!

Attention Home Sellers!!

Is the Home You are Looking at ON-LINE Really For Sale???

Did you know the facts about where listings are originated?

Buyers beware of the Large Corporate Sites acting as posers in our real estate market! Posing as experts of value?

Sellers beware – over 98% of people looking on these sites are not buyers!

  • Fact – an entirely new industry has been created that is based on EXPLOITATION of properties for sale.
  • Fact – this system impedes the information pipeline by not getting you in touch with the actual listing agent who has accurate information about the property.
  • Fact – as a result, all parties involved in the sales process including home sellers, prospective home buyers, real estate agents and brokers are HURT. The public is routinely MISLED.

When I and other real estate professionals create a property listing in our local Multiple Listing Service, we are given the choice of authorizing the sharing of that listing. One source is Internet Data Exchange or (IDX) with a member of the Multiple Listing Service organization. Brokers within the same Membership or MLS share, market and display other Brokers listings. This is controlled through the Local Board of Realtors®. Utah State Rules governing the real estate industry dictate that the Brokerage name must be listed on every displayed site.

The other way of sharing. Is known as listing syndication. Due to the poor standards currently in place, the listing then enters the proverbial “BLACK HOLE.”

Syndication sites are not part of the local Board of Realtors® and are not bound by any rules WHATSOEVER!

Sold properties or properties not on the market continue to be displayed as available for sale properties. How would you like to have people driving by the home you just bought to ask if it is for sale? Peeking in the windows? Walking around your home?

What is the result for Home Buyers and Home Owners?

Home buyers, when on these syndicated sites are looking at homes that are either NO LONGER FOR SALE, SOLD, OFF MARKET, AND EVEN NEVER FOR SALE AT ALL!

Only about 66% of the actual “For Sale” listings make it to syndicated sites from our local MLS.

Syndicators will openly brag about the fact they have more properties than anyone else! That may be true …. However many times those properties are not really for sale!

These syndication sites sell ad space to real estate agents that may or may not have knowledge about the home displayed next to their photo on the webpage.

What happens? What does that mean?

Home buyers are directed to agents who are UNFAMILIAR with the home, but have paid for the buyer lead. These agents are then free to promote other homes or areas that are familiar to them. The result is an epic fail. Buyers miss out on the best INFORMATION, and sellers miss out on valuable showing OPPORTUNITIES!

Massive Problem! There are two really big syndication sites most everyone knows. Their names. …willow and …rulia.

Hundreds more! Many are borrowing data from Realtor® Sites all over the country.

Best Advice!

Stick with a local expert with a IDX site that is Approved by the local board of Realtors® that complies with the National Association of Realtors® code of ethics and standards of practice.

For Sale By Owner

For Sale By Owner

 

For Sale by  Owner

Why some homeowners try to sell their home on their own. So is this a good idea? Many past For Sale By Owners say “ this wasn’t such a good idea”.

Top reasons that sabotage a For Sale by Owner.

1. So many people to keep track of and Negotiate With. You must be prepared to negotiate the sale yourself. The savvy buyer wants the best deal possible! The buyer’s agent solely represents the best interest of the buyer (90% of all buyers are represented by a Realtor®). DEAL KILLERS! Home inspection companies. Their job is to find problems with your home! A savvy buyer will then usually ask for a substantial price reduction! The appraiser, who is blindly selected by the buyers lender often times, will question value.

2. Exposure to home buyers. New studies have shown that up to 91% of buyers search online for a home. And some experts say that the large sites such a Zwillow and Trueila are notorious for posting old data. And only a tiny percentage is actually there for home shopping. The large sites are mostly just used by people for entertainment. Most Realtors® have multiple internet strategies to promote the sale of your home. Do you?

3. Results Come from the interweb. Where do buyers find the home they actually purchased? 43% on the internet, 9% from a yard sign, 1% from newspaper. The days of selling your house is not about just putting a sign in the yard an ad in the paper. It is critical to have a successful internet strategy.

4. For sale by owner selling has become more and more difficult! The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people selling their own home has dropped from about 20% to less that 10% over the last two decades.

5. Netting more money when using Realtor®

What ?? this usually the case.

Save the commission and sale yourself? Unfortunately the main reason buyers look at for sale by owners is for the same reason, they can save the commission! A sad fact the seller and buyer can’t both save the commission. The buyer just reduces the price what he or she thinks the commission is.

Experts say thought various studies that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

In Conclusion

You might want to sit down with a Realtor® before you decide to take on the challenge.

Pin It on Pinterest