We want you to have maximum exposure to the market
Realtor.com draws more than 6.5 million visitors a month, making it "the No. 1 consumer destination for real estate related information," according to Move Inc., which runs the site for the National Association of Realtors.
That’s why when you list your house on IHS Realty, we list your house for free on Realtor.com. We want you to have the greatest exposure possible. By listing on the MLS in the first place, you gain greater exposure. If you list on the national MLS, then your exposure to the market is even better. Pay one low flat fee to list your house on IHS Realty and we list it on the national MLS through Realtor.com and your local and regional MLS as well. There is no better bargain.
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List on the MLS and you’ll be listed locally as well as nationally
One in four buyers purchase a home they first saw on the Internet, according to a 2005 survey by the National Association of Realtors.
Veronica Melissas started out on Realtor.com, the Web site of the NAR that contains most of the MLS listings in the country.
When you list your house on IHS Realty, you get listed on Realtor.com and your local MLS web site. That’s the best exposure you can get. No matter where you live or where the property exists that you are selling, you’ll be listed nationally at Realtor.com and on IHS Realty’s web site and you’ll also be listed regionally and locally on the MLS in your area.
IHS Realty has been playing the flat fee game long enough, we know how to make it work for you. Don’t you want to do business with a trusted source? We weren’t just first. We’re also the best.
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- Flat Fee MLS
Learn more about how flat fee MLS services work.
Maximizing equity in cooler market conditions
As inventory increases and home prices level nationally, flat fee MLS is your ticket to maximizing equity. You get the marketing same marketing exposure as every other home listed in the MLS with a fraction of the cost. If you are contemplating listing with a full service agent you need to find out exactly what services you will be receiving, because chances are, you are not getting any added marketing advantage for the thousands more you will pay. Find out if you will have a property webpage with a unique URL that can be used in advertisement – since over 75 percent of buyers begin their search online, if a home warranty will be included, if a virtual tour will be included in the MLS and Realtor.com, if your listing will contain multiple photos, if you will have a "Realtor.com Showcase Listing," if you will be provided home flyers, if your home will be listed in multiple MLSs. Every one of these items is included with a flat fee MLS listing, the only difference…you pay $499 instead of giving away 3 percent – enough money to buy a brand new car! So next time you think about listing with a full service agent, ask yourself "is it worth it?"
Flat fee MLS versus a traditional agent
When listing your home with a flat fee MLS broker you are essentially acting as your own listing agent assuming responsibilities normally handled by an agent. You will handle all showing requests, handle the marketing of the home – classifieds, etc, and negotiate the purchase offer. And once you sell your home you will immediately question why any agent would ever get 5-7 percent to sell a home. I think you will find it considerably easier than you thought.
The increase in home prices and recent market conditions have lead consumers to try a new method that provides the best of both worlds – it provides invaluable marketing exposure through the MLS while homeowners maintain all right of a for sale by owner. With the savings sellers experience in realtor commissions they would not otherwise realize, they have an opportunity to run their own marketing campaigns. Nowadays, most flat fee MLS providers provide many of the same marketing tools a full-service agent would provide like a yard signs, directionals, comparative market analysis (CMA) for pricing help, home warranties, virtual tours, realtor.com showcases, home flyers, home web pages, closing checklists, contract negotiations, and many other tools.
So what is the first question you ask a Realtor when conducting the listing interview? More than likely it is, "how are you going to market my home and where is my listing going to be visible to the public?" With flat fee MLS you control all aspects of the transaction; you are in the driver seat! Because sellers normally only pay between $400-$600 to a flat fee listing broker, it is almost foolish not commit some of that savings to an aggressive marketing campaign that will maximize your homes potential. Even if you spend a few hundred in classified ads, postcards, etc. you are still savings thousands more than listing with a traditional full-service agent. Spending a few more dollars to a flat fee MLS company that provides a Realtor.com Showcase listings may be advantageous as homes with additional photos and virtual tours are viewed 300 percent more often by the searching public.
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Austin, TX Board of Realtors illegally restrained competition
The Federal Trade Commission has charged the
Austin, Texas Board of Realtors of illegally restraining competition by preventing consumers from putting certain home listings on public websites like Realtor.com. The charge against the 5,000 member MLS was prompted because of rules written that make home listings available through public website searches only if sellers are listed with a traditional full service agent.
Home sellers listed through alternative "for sale by owner" discount services like flat fee MLS and exclusive agency agreements were deprived of the exposure provided through Realtor.com, Austinhomesearch.com – a regionally searched site, and other brokerages websites.
A settlement has been reached between the two parties with no formal acknowledgement by the Austin Board of any wrongdoing. John Roberti a former attorney with the FTC has said "this should serve as a wake-up call for the MLSs. If I were running an MLS with…I would spend some serious time thinking about whether this rule is necessary."
The fact that MLSs can even implement such rules that impede the growth of the industry, prevent competition, and reduce consumer trust of its members is shameful. The ongoing litigation due to the opposition of industry evolution by traditional members, associations, and NAR are not helping anyone. This double edged sword is only increasing consumer knowledge of industry practices, commission structure, and alternative flat fee models they are trying so desperately to "shut down."
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Differentiate your home from others in the area
Real estate inventory in the largest 100 markets in is up 60 percent in May 2005 compared to May 2005 based on MLS studies nationally. The swell in inventory has forced home sellers to lower asking prices significantly. As inventory increases and competition stiffens it is important to provide some added incentive for agents to sell your home over a neighbor’s. Flat fee MLS provides home sellers an affordable opportunity to maximize marketing exposure through the local MLS and public websites like Realtor.com. Because sellers are saving 3 percent on the listing side of the transaction they can offer buyer agents up to 1-2 percent more compensation to sell their home than the local competition while still pocketing more equity. Buyer agent compensation is not the only way to differentiate your listing, be sure your home is a "Showcase" listing on Realtor.com. Showcase listings display a catchy headline, multiple photos, customized description, open house announcements and more. Consumers using Realtor.com to search for homes are searching homes offering virtual tours and multiple photos first. Increased inventory means sellers need to increase marketing.
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Save on Realtor commissions and get your home shown first
When selling your home you need to think like a Realtor – taking advantage of marketing exposure and differentiating your home from other listings. To maximize marketing you can list the home with a flat fee MLS broker in order to get the exposure of the MLS and other public websites like Realtor.com, and MSN among others. As a for sale by owner some agents may be reticent show the home. Because you are saving 3 percent on the listing side of the transaction you can combat that hesitation by offering a more competitive compensation to buyer agents than any other listing in the area. Agents are very aware of what their compensation for selling a home will be and if a listing is not offering a competitive rate, you can be sure they will show that home last, or in some cases not at all. As inventory continues to rise offering a compensation of 3.5 to 4 percent will ensure your home will be first on the list of area showings. Agents have utilized this strategy for years by offering buyer agent bonus or incentives, but there is no better incentive than cash! If you aren’t happy with the traffic you are currently getting, give it a try.
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Internet ads increasing, print ads decresasing
A new television commercial addresses the rapidly changing marketing methods used by real estate agents. When the agent is asked by the home owner what papers the home will be advertised in, the agent responds by saying "54 percent more people today use the Internet over newspapers to look for homes." The agent says she will use multiple photos and an in-depth description in the home’s online listings. As the trend changes toward online advertisement, sellers have to ask themselves what advantage a full service brokerage offers them.
With most metropolitan MLS’s listing information is displayed on a bevy of public websites like Realtor.com, Yahoo!, MLS owned regional websites, and other brokerage websites. If a detailed description and multiple photos are the extent of what a full service broker is going to offer with their listing, then flat fee MLS is the best alternative. With most flat fee MLS companies a seller can customize their own MLS description as well as the description that appears on Realtor.com, add multiple photos, and get realtor assistance as it is needed. You can receive all of these services for a fraction of what it would otherwise cost with a full service agent offering the same marketing methods. It is an absolute travesty that multiple photos and an “in-depth” home description warrant a home seller to pay 5-6 percent in realtor commissions. Moreover, it is utterly unbelievable that state senate continues to pass laws eliminating low cost alternative models. There does not seem to be a better example supporting the need for competition than this 30 second commercial. There is just no way any agent can justify the listing fee they receive to simply put the home in the MLS and add photos. Consumers need to speak up and contact local government to ensure they do not fall victim to anti-competitive laws.
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Maximizing your marketing efforts
When getting your home sold an MLS Listing is crucial. Placing your home for sale with a Flat Fee MLS broker can be a cost effective way of advertising the home to thousands of potential customers. MLS listings not only reach those realtors in the listed area but also reach the public through websites like Realtor.com. With a flat flee broker the cost to list a home is just a small fraction of the cost of marketing through classifieds and other print ads, not to mention the 5-6 percent traditionally rendered to list in the local MLS. With available enhancement packages, the broker can post open houses, multiple photos, customized remarks and showcase your home on websites like Realtor.com.
As the number of home buyers beginning their home search on the internet continues to grow, be sure you are taking advantage of the available avenues to better expose your home and the best method available is the Multiple Listing Service (MLS).
There is no substitute to the marketing exposure provided through the MLS and public websites like Realtor.com
If you are selling your home For Sale By Owner (FSBO) and want to maximize the marketing exposure your home will receive, then flat fee MLS is the answer. Through the MLS your home will be published on public websites exchanging data information with the MLS and other brokerage websites as well. Through an MLS listing you are guaranteeing your home will get the most “bang for your buck.” While classified websites like Craigslist.com can be effective means of local marketing, there is no better way to market a home for sale than utilizing the local MLS. With flat fee MLS for a comparable price to classified websites, or print ads, you are increasing the exposure of your home as it will appear on internet juggernauts like Realtor.com, Yahoo! Real Estate, AOL.com, MSN.com and others.
Realtor.com tallies more unique visitors than any real estate website
The internet’s effect on marketing homes for sale is nearly immeasurable. If your home is not listed on public websites like Realtor.com through your local MLS there is literally no telling how many potential buyers are missing your home…35 million? If real estate commissions are the deterrent for listing your home with an agent, than enlist the services of a flat fee broker in order to maximize the marketing potential. By taking advantage of flat fee MLS brokers you will be marketing your home in the local MLS, in turn getting the marketing exposure of public websites like Realtor.com and local brokerage websites – Realtor.com alone receives more than 35 million unique visitors monthly. Moreover, Realtor.com’s enhanced listing tools allow you to customize your remarks, customize your listing headline, display multiple photos of your property and advertise open houses, drastically enhancing the chances of selling your home to an unrepresented buyer saving you additional thousands in commissions on the buyer side of the transaction.
A Few Good Tips but Short on Details
The book does an admirable job of going through the home sales marketing procedure, such as getting the home into tip-top condition ready to sell and then using various marketing techniques. There is heavy emphasis on using Internet resources, especially FSBO listing Web sites. However, the book conveniently neglects to tell readers that approximately 70 percent of today’s home buyers begin their quest on the Internet at www.Realtor.com, a Web site which includes virtually all homes listed for sale with professional realty agents. Do-it-yourself home sellers cannot list their homes on this major Web site unless they list with a local realty agent.
This is a huge distinction as the traffic to www.Realtor.com dwarfs that of all the "For Sale by Owner" sites combined. The book also fails to mention that in most areas of the country there are firms that provide services aimed at FSBOs which effectively overcome many of these obstacles. Home Sellers can now have their home listed in the MLS for a flat fee and avoid paying a listing commission, thereby cutting their cost in half.
The book also never overcomes the key issue of how to get a serious prospect converted into a buyer with a written contract. Authors Wuorio and Turner recommend FSBO home sellers retain a local real estate attorney. However, that’s a poor substitute for a listing agent who has all the necessary contract and disclosure forms readily available when a buyer wants to buy.
Again this oversight must be because of poor research. Some of the same firms that offer MLS listings are also able to provide fee-based services including contract preparation and/or negotiation (also at a fraction of a standard listing commission).
Hopefully the publishers of the "Idiot" series will devote a few more resources in their next edition so as to provide consumers with a more complete picture of the services now available to homesellers.
Inman News founder placed on DOJ witness list
Prior to the sale of HomeGain.com, Brad Inman, owner of HomeGain and founder of Inman News , a real estate news service was requested to appear as a witness in the trial brought by the Department of Justice (DOJ) against the National Association of Realtors (NAR). The DOJ lawsuit challenges NAR rules that limit competition from brokers who use Internet tools to serve their customers charging that the group’s modified Internet property data display policy continues to prevent Internet-based real estate brokers from offering better services and lower costs to consumers.
Inman news has provided an objective chronicle of the real estate industry’s leading trade organization’s efforts to maintain traditional "brick and mortar" brokerages’ longstanding stranglehold on property listing data. In an open statement on Inman’s news site regarding the DOJ’s request for his appearance at the trial, Brad questioned whether there is a conspiracy afoot or whether incompetence could be the reason for NAR’s woes.
He raises an interesting question. Is the NAR actually doing what’s in its membership’s best interest, or is it simply attempting to maintain the status quo for reasons that no longer make sense in light of current realities? Would allowing consumers free and unfettered access to information really bring about the downfall of the traditional brokerage model as NAR leaders apparently fear? Or, might making room for new and innovative approaches actually create a scenario where both the consumer and the Realtor win?
With the percentage of profitable brokerages and independent contractor real estate agents continuing to decline in spite of record housing price increases, perhaps it’s time to test some of the long held tenents of the old guard. The upcoming trial should at the very least provide some insight into the conspiracy/incompetence theory.
Stay tuned…
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Alternative brokerage model offers home sellers equity savings in up and down markets
Signs of a slow down in the real estate market have home seller’s wondering whether they can still demand the same high prices for their homes as their recently sold neighbors. And, more importantly, how much equity can they hope to realize from a sale in a buyer’s market.
New brokerage models, such as Flat Fee MLS and online discount real estate companies now provide a way for home seller’s to maximize their equity even in a slower market. By providing alternatives to the 5-6% commission rate charged by traditional brokers, home sellers may now offer their homes for less and still come out ahead.
For as little as $399.00 consumers can remain competitive in the home marketplace by listing their homes in the Realtor Multiple Listing Service and on Realtor.com. Real Estate Services in most areas are available on an a la carte basis whereby a seller can do some or all of the work themselves and save thousands of dollars in real estate commissions.
As the real estate commission in the United States is the largest portion of a home owner’s costs of selling, finding more efficient and ecomonical means to sell are becoming more and more important as the market cools.
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FSBO’s keep more money selling on their own
There’s no doubt about it. More home sellers are choosing to take matters into their own hands and sell their homes by themselves. Two changes in the way property can be marketed are making them more successful.
One, the Internet allows For Sale By Owners (FSBOs) unprecedented access to the marketplace. No longer are home sellers at the mercy of local real estate agents who once stood at the gates to the real estate transaction with their control of information about which properties were for sale. Promoting a property nationally is now as easy as posting on a web classified site like Craig’s List or even creating your own web page.
The second factor increasing FSBO’s success rate are the availability of "a la carte" real estate services. No longer are real estate tools and services available in a "one size fits all" model whereby sellers pay a real estate broker a relatively large commission for a suite of services. Now, in most states, (see limited service article) home sellers can choose which tools and services they want from a variety of models.
Most importantly, FSBO’s now have access to the Mutliple Listing Service (MLS) through online companies offering flat fee MLS listing. Companies, like InSightMLS.com, offer a way for home sellers to list their property alongside traditional real estate agents properties in the MLS for a one-time, flat rate. An MLS listing provides the greatest marketing exposure possible by promoting homes to all of the area real estate agents and their buyers.
For added exposure, most MLSs also provide listing on Realtor.com, the number one real estate website in the world with over 6,000,000 unique visitors per month.
With the marketing exposure problem solved, it’s a matter of home sellers educating themselves enough to handle the more subtle aspects of the real estate transaction. Many online guides are available to assist the FSBO seller. As they say in real estate licensing school: "It ain’t brain surgery".
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