Tag Archives: Fairport

Why selling home by owner makes so much cents!

Selling by owner has evolved to the point where it is taking market share from traditional brokers.  Why, you might ask?  Because it has gotten to the point where it is easy!

Let’s face it….

  • You’re going to show your property either way and in many cases, while your agent is out getting new listings or at their kids softball game, you are going to open up.  And it’s hard to hide when your face to face with a buyer.
  • You’re going to negotiate either way, but you already know what your bottom line is and not having the overhead of a middleman can put you in a much better competitive position to negotiate.  It is all about dollars and cents here.  If you have more to work with you are simply in a better position to negotiate.
  • The forms are just fill in the blanks so most people know where to put the price offered and the closing date.  This isn’t rocket science especially when help is a phone call away, if you are with List2Move.com
  • Qualifying buyers is as simple as asking them, “have you been to the bank?” and finding out where they bank.  That’s what the pros do before they let anyone in the house.

The bottom line is….

In order to compete with the “full service” Realtors you need access to their local tools and only List2Move.com can get you there through it’s patent pending MLS listing machine.  Give yourself the edge for a fraction of the cost and list your property on List2Move.com.  If we don’t have an affiliate where you list we will interview a like minded broker who will assist you!

 

 

Flat Fee MLS in Rochester NY

List2Move.com has been doing Flat Fee MLS in Rochester NY now for over 7 years and their business philosophy hasn’t changed from day one;

“if you give homeowners the same tools as the professionals, they will succeed.”

When we started years ago there was only one other company doing flat fee and they were doing it for over a thousand dollars.  We hit the market using technology and the Internet and at a fraction of their cost we put them out of business.  We developed systems to eliminate the middlemen in the equation which equates to big savings.

The founder of List2Move.com delivered a talk to the the NYS Bar on New Business Models in real estate in 2006. Continue reading

For Sale by Owner (FSBO) in Rochester NY

Rochester NY’s FLAT FEE, FSBO Leader

 

You have heard about “Location, Location, Location” in real estate but when you are selling your homes by owner you have to think about INFRASTRUCTURE, INFRASTRUCTURE, INFRASTRUCTURE!  Why? Because if you hitch your wagon to the wrong star you run the risk of leaving lots of money on the table.  

 

List2Move (formerly called FlatFeeRochester.com) was started right here in Rochester NY almost 7 years ago with the idea that if you give the sellers the RIGHT tools (the same ones the agents and brokers use) and a little coaching along the way, that they would be able to successfully sell their own real estate.  Well Rochester, it is working really well!  We can tell you with confidence that by listing with List2Move.com you have a 42% better chance of not paying any co-brokers commission at all. (And much better service and better signs than anyone in or out of town!)  We have saved our homeowners (our neighbors) over a $1,000,000 (million)  in commissions!

 

That being said, it is also true if you go with the cheapest service out there you are going to get some real cheesy looking signs, and little if any infrastructure which makes a big deal if you are really trying to save the most money.  So if you want to save the most money, have the least amount of problems and sell quick there is still only one real contender, the market leader….List2Move.com

 

 

 


Top 10 Reasons to FSBO with List2Move.com

10. Realtors can’t solicit you any more!  It would be unethical according to the National Association of Realtors Code of Ethics!

9.  Automatic Syndication to hundreds of web sites including Realtor.com

8.  Automatic marketing to all Realtors in your area

7.  Name your own buyers agency commission (You don’t have to give it all away!)

6.  Control of your deal

5.  Chance to eliminate the buyers agent’s commission (100% of Sellers make the commission offer and 42% still pay nothing)

4.  Automatic Marketing all Realtor’s buyers registered in the MLS computer

3.  No long term listing contracts

2.  Free consultation with someone who wants you to succeed!

1.  It’s all done from the comfort of your own computer!

Is your flat fee provider working against you?

For sale by owners, beware!

 

If you are not working with a provider that is truly on your side you will most likely pay the price.


$1000′s in commissions


What do I mean?  You must remember that when you go on the MLS, your not only tapping the number one tool of the Realtors but you are also getting syndicated nationwide in most cases, which is all good.  However, one key ingredient is missing that could be costing you thousands of dollars in commissions.

The buyer leads!

 

Where are they going?  They are going to the broker, not you (the for sale by owner) !!!!

 

Surprised?  Don’t be.

 

The MLS and the syndicated sites are set up for brokers,

 

not for sale by owners!

 

Brokers pay for this syndication out of their dues paid annually to their MLS and the small fee you pay to list your home or property on the MLS is just that.  A small fee for exposure or advertising!  It does not guarantee you the buyer leads!  However,

 

Getting around this is easy


Look at the brokers listings on the brokers website.  Is it FSBO (For Sale by Owner) Friendly or not?  You should see a way to clearly get in touch with the owner.  The broker should also be promoting this on the public MLS website.

 

List2Move sends you 100% of the buyer leads

 

Log on and list!

 

 

Adding the commission to the purchase price

This could be a first. Could times actually be changing?

I got a call this evening from one of our newer listings who had an offer brought in by a real estate agent.  This agent obviously saw in the MLS (database) that our client was only offering $1.00 (one dollar).  But to the agent’s credit, she didn’t moan and groan about how the seller has to pay her commissions. Instead she counseled her buyers, explained the situation and wrote the commission into the offer.  This is called being a PROFESSIONAL.  She was upfront and honest with all parties involved!

 

So we talked about the offer, and it was legit.  Good price, good closing date, good time for financing etc, so basically, it was a “clean” offer.  But I could tell the seller was interested in the win/win her and for this agent.  They weren’t quite at their price and the agent wanted her 3% commission.  The answer to me was simple, just add the cost of the commission to the price that the seller wanted in a counter offer.   I explained that this is done all the time when buyers need help in the form of seller concessions.  The client went on to explain that the agent was very “nice” and accommodating and that she had communicated several time since she brought the buyers in.  And before we ended our conversation, I got the feeling that the sellers liked this agent and maybe they weren’t going to counter with the full 3%.

 

We are going to find out sooner than later, but if I were to guess…I am thinking the sellers are going to counter less then the full cost of the commission and pay it.

 

What about grouping your showings?

I was talking to one of our clients this afternoon and she was concerned because she had a showing set up tomorrow at 5:15pm and another agent had just pushed his way in the door at the same time.

At first I could understood her concern, but after a second to process this, I thought it was great!  It brought back memories of me showing my apartments across town to perspective tenants all at 6pm so I didn’t have to make a million trips.  What happened, if they all showed up on time, was a competitive feeding frenzy.  Tenants competing for my rental apartment.  I loved it.  Still do it today.

Years ago I helped my brother in-law sell his home in Irondequoit.  I remember pricing it high for even a good market.  When we had our first Open House, there were lots of buyers in the house at the same time, so jokingly I told them we were looking at offers at 7pm.  Sure enough, we had two offers that night.  It was a scramble.  The first offer was at list price and the second was 5K over.

Hmmm, wonder which one we accepted.  This is more psychological than anything else but guess what?  It works, sometimes.  Think about it.

Real Estate Forms-Rochester, Buffalo, and Syracuse NY

These forms are free to List2Move.com customers.  So go ahead and register now.  Only pay when you you go live!!!!

NYS required real estate sales forms

 

OK, the purpose of posting these real estate forms is to help you sellers sell by owner and save money!

These are the same forms that real estate agents in Rochester, NY use.  They will also be available on the List2Move.com Rochester, Buffalo, and Syracuse NY site.

****Available now to List2Move clients in your Account under Legal Forms*******

 

If you look at any of these contract forms they are all ‘fill in the blank’ because real estate agents can not practice law.  So you don’t need a degree in Rocket Science to fill one out.  List2Move clients can access the broker 24/7 for any questions regarding these forms.

Forms are broken down like this

  1. Contracts-covering the general agreement
  2. Addenda-further spelling out the agreement
  3. Disclosure-forms that are sometimes legally required

When the contract is delivered to you from a buyer it should have the purchase and sale contract with the corresponding addenda (Such as Engineers Inspection details or FHA’s ‘All Parties Agreement) and you will add to it Lead Paint Disclosure if applicable or even maybe a property condition disclosure. See what John Blyth, top real estate attorney, said about property condition disclosure.

 

1. Contracts

Contract-Purchase and Sale-Residential-This is what the buyer’s will present you.

Contract-Purchase and Sale-Manufactured Housing

Contract-Purchase and Sale-Vacant Land

Contract-Purchase and Sale-Condo/HOA

Contract-Continuation of Purchase and Sale Contract-Used when you run out of paper during counter offers etc.

 

2. Addenda to contracts- further spell out the agreements

Addendum-All Parties Agreement for FHA/VA financing

Addendum-Buyer’s Notice Conditional Removal of Contingencies

Addendum-Buyer’s Notice of Removal of Contingencies

Addendum-Lead Compliance (Seller’s-Required if built before 1978)

Addendum-Lead compliance for Leasing of Properties (Landlords)

Addendum-Mortgage Assumption (If you are going to let someone “assume” your mtg)

Addendum-Property Inspection (ex…Engineers Inspection)

Addendum-Seller Financing

Addendum-Transfer of Title Contingency (When your buyer has to sell their home to buy yours)

Addendum-Utility Surcharges

Addendum-Well and Septic Services

 

3. Disclosure

Addendum-Disclosure Notice for All Residential Property in Wayne County

Protect Your Family From Lead In Your Home Pamphlet

Bump Notice to Buyers

Cancellation and Release of Purchase and Sale Contract

Personal Property Agreement

Property Condition Disclosure for COMMERCIAL Properties

Property Condition Disclosure RESIDENTIAL properties

 

4. Other

Open House Sign In Sheet

What the heck is a Brokers Open?

Think of it like an Open House just for sales agents, except filled with smoke and mirrors.

OK, so here’s how it works.  Broker’s will tell sellers that they are going to ‘expose’ the home to other brokers as a way to gain exposure and educate them on the homes features and benefits.  Sounds logical doesn’t it?

So the listing agent will send out an email to all the agents and brokers advertising their open house,  and to get them to show up, they tell them that there will be a free lunch or there will be some drawing of some prize.  The next hurdle is getting someone else to pay for that lunch/prize, so they will grab a mortgage broker who wants to get exposure to new referral sources (agents) to supply the goods.

The hungry agents come for free goods, talk a little shop, eat…talk a little more shop, pound some desert and oh yeah take a look around and leave.   But before they leave the listing agent asks them if they can make any RECOMMENDATIONS…Most agents will suggest reducing the price or staging or some combination of both, like they just solved a mystery.  “hmmm, you should think about dropping the price 5 or 10 thousand dollars and see how that works”

Then the listing agent goes back to the sellers and tells them how successful the open house was, and that 8 out of 10 agents suggested a price drop.  That way it was a third party suggesting the price drop, not the guy who told them he could get a million dollars for the 200k home in return for signing that 6 month listing agreement.

Very clever, but Brokers Opens are not effective in selling homes.  There is no efficacy here at all since most brokers and agents have very very little control over their buyers today!    Buyers are telling agents where to go, not the other way around.

 

 

Real Estate Rebate Check Cut in Pittsford, NY-Just Smart

Last month we cut our first rebate check of  the year!  Buyer bought a $265,000 home and got a sweet rebate check of $3975.00 after closing!

Not something you see everyday!  A real estate broker coming to your door with a check for thousands of dollars!

These people worked the system so well on both ends of the deal that they saved over $10,000 in commissions easily!

If you are buying, you are going to a lot of the work yourself so why not get paid to do it?  It is about savings, it is about keeping your money, it is about being smart.