Flat Fee Plymouth MA MLS Listings Perform Well

The Plymouth MA MLS information established that it takes, on average, 56% longer to sell a home with a traditional real estate agent than as a FSBO with an MLS entry only listing.

And separately, MLS entry only listings in Plymouth achieve both a higher sale price to original asking price ratio, as well as, a higher sale price to listing price ratio.

How to FSBO Plymouth Massachusetts

With the increasing popularity of flat fee entry only MLS listings, and the success in terms of days on market and sales to listing price ratios of this home listing technique against the status quo of a traditional listing broker approach, Massachusetts homeowners are evaluating how to FSBO their own home as an alternative to hiring a traditional agent to list their home for sale (at a full commission).

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Selling Your Massachusetts FSBO Tips

Home sellers interested in selling a Massachusetts home without a Realtor must follow a checklist, including:

• For Sale by Owner preparation
• List, market, and promote your home like a pro
• Access and understand Massachusetts real estate paperwork
• Close your Massachusetts FSBO transaction

Massachusetts Flat Fee MLS for FSBOs

The internet enabled multiple listing service (MLS) is the cornerstone of any Massachusetts FSBO. When selling a home without a Realtor, property exposure is key, and the best way to drive FSBO exposure is via a listing in the MLS. A reputable and technologically advanced Massachusetts flat fee MLS listing service can list a FSBO in the MLS for a one-time flat fee.

Here’s an example of the costs involved in listing a home with a flat fee MLS listing service like Entry Only New England versus selling with a traditional real estate listing broker.

This real life example demonstrates a $395,000 home listed for sale with EntryOnlyNewEngland.com versus listing that same home with a traditional real estate brokerage.

Assume that for the entry only listing, you have decided to compensate a Buyer’s Agent (i.e. a licensed real estate agent representing the buyer of your home) 2.5%, and assume that for the traditional real estate brokerage listing you are being charged a 5% commission that the listing brokerage will split in half between themselves and the brokerage representing the buyer.

How to Sell Boston by Owner

In the example above with a $395,000 home, a Massachusetts FSBO would gain an additional $9,580 by selling their home without a Realtor using an entry only listing with EntryOnlyNewEngland.com versus listing for sale with a traditional real estate brokerage.

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Real estate agent fees and the concept of a real estate commission percentage can be nebulous. Sellers consistently have questions like:

• What’s the average real estate commission?
• Is there a standard real estate agent commission?
• What is the real estate agent fee when selling?
• Is there a typical Massachusetts real estate commission?

Each one of these questions is a good one, and frankly, natural to ask.  With real estate commission percentages where they are at in the US, it’s important to take into account their impact on a sale.

What does that mean?

For illustration purposes, on the sale of a $409,000 home, with 6% being paid as real estate broker fees, the seller will pay $24,540 in Realtor fees – therefore,  the property owner is more accurately selling at $384,460 (after taking into consideration the typical real estate commission).

You can learn more about the average Massachusetts Realtor fees, how real estate brokerages establish their real estate commission rate, and gain insight into exactly who pays the Massachusetts real estate agent fees by further exploring real estate agent commissions.

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You own a home. You want to sell it. You don’t want to pay a traditional real estate brokerage 5% or 6% to do it. Why not? To put it succinctly, at its most basic level, you believe the exposure provided by the combination of the Multiple Listing Service (MLS) and the Internet is sufficient to attract a qualified buyer.

As a seller in a real estate transaction, the commission to which you agree compensates two (2) parties, the Seller’s Agent that you personally hire to market and sell your property, and separately, the agent representing the buyer you hope to attract. Given the Internet enabled MLS, it’s argued that the only party you need to compensate is the Buyer’s Agent. The power of exposure given to you by your property’s inclusion in the MLS and the subsequent propagation of that property information across the Internet will generate the exposure, demand, and qualified buyer you need. For all practical purposes, that service is not worth the 2% – 3% that you would pay a Seller’s Agent to accomplish those tasks.

Getting Your Property Into MLS

Thus, your main concern should now be how to get your property into the MLS in the most efficient way possible, so that this Internet enabled MLS does its job in exposing your property to the masses. It’s your confidence in the ubiquitous availability of information in today’s society and the deeply rooted desire of buyers to seek out information that allows you to even consider going it on your own as a for sale by owner (FSBO) type, foregoing a Seller’s Agent, and also foregoing the 2% or 3% that you would typically pay them…to expose your property.

What you’re starting to realize is, if your property is in the MLS, it will be exposed.

Across the US, this exposure and the current dynamics of the residential real estate market in general are based on the guise of a local MLS system. That’s the baseline, and the only practical and comprehensive entry point. Real estate agents still hold the keys (pun intended) to the MLS system, and you’ll need their involvement to get your property into the system, and to be exposed.

Who are the MLS innovators?

The dynamics have been changing, are changing, and are changed. A firm like RealDirect (http://www.realdirect.com) is changing things with what they call their Owner Managed Listings, and a platform like EntryOnlyNewEngland.com (http://entryonlynewengland.com) is giving Massachusetts residents the opportunity to get their property exposed in the MLS for a one-time fee with something called a flat fee MLS listing.

It’s going to be the discovery that there is a need for such services, that the consumer deserves that choice, along with the continued refinement and availability of such services that gets us started down the road toward a goal of what some might call real estate market efficiency.

Real Estate Market Efficiency

The US operates in an economic system or arena referred to as capitalism. While you’d be hard pressed to prove that it’s truly a free market system, nonetheless, its aim is market efficiency, a phrase that was first coined in the efficient market hypothesis (EMH) of Eugene Fama in 1970 whereby at any given time, prices fully reflect all available information on a particular stock and/or market.

In the context of the real estate market, we are heading toward market efficiency when alternative means are used to expose a property to buyers in such a way that the cost of doing so takes into consideration that a Seller’s Agent, and their corresponding commission, is not always necessary given the ubiquitous availability of property information. In addition to real estate commissions, there are other large barriers to overcome to achieve real estate market efficiency, yet, a flat fee MLS listing, or entry only MLS listing as it’s known in some locations, is a first step towards such an end.

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If your house hasn’t sold for what you’d hoped in its time on the market (with you still in it), it’s going to be even more difficult to sell when it’s empty (unless you’ve been showing your house with it full of clutter or packing boxes — bad ideas, both!)

Tasteful furniture makes a house feel like a ‘home,’ and it’s wise to show your house with it furnished. But if you’re moving, do you have enough to leave behind to stage your old house that’s still on the market? And how do you decide what comes with you now and what goes?

First of all, there’s no need repeating what’s already been said on this blog. To stage your house, begin with the deep clean process detailed in this Boston Real Estate Observer post from last January.

Now you’re ready to decide what furniture will come with you to your new home and what will stay behind while the old house sells.

1. Decide Which Items You’re Getting Rid of Forever

A move is an excellent opportunity to take inventory of your belongings and get rid of what you no longer love or need. Chances are, some of your furniture won’t ever be making the trip to your new house. If you have couches, chairs or beds that are beat up and well-worn, go ahead and get them out of the house. You can sell them in the classifieds or call your local thrift store to come pick them up (don’t forget that you get a tax write-off for your donation).

Are there some items you don’t want anymore, but that are still in excellent condition? Mark these with a red (or any consistent color) in an inconspicuous but obvious place. If you’re not around when the moving company comes to retrieve the rest of your furniture after the house sells, they’ll know that the items with the red sticker can stay to be picked up by the thrift store.

2. Figure Out What You Need

There’s no point in buying a new bed when you get to your new home if you want to keep your old one after the house sells. Choose another color sticker and mark the items in your house that you’ll take with you on your initial move. This should be a basic list that gives you enough to comfortably get by until your first home sells and your furniture arrives. If you have a small house with only one bedroom, it may even be worth sleeping on an inflatable mattress for a month in order to keep your old house looking furnished.

3. Choose Your Show Items

Generally, you’ll want to leave your nicest furniture in the staged house. The perception by potential buyers that a person with good taste who cares about their home lived there previously can make a difference in a closed sale and its price, so consider the small sacrifice of temporarily leaving furniture behind as an investment.

Although you don’t have to leave each room decorated to the brim, don’t leave any rooms empty. When staging, however, less is more. A few choice items of furniture show off a room’s potential uses, but too many can clutter the room and make it feel smaller. The trick is to find a balance between ‘look how nice this room can be’ and ‘look how spacious this room is.’

Save your bulky furniture for the big rooms. A small bedroom should have a small bed — don’t fill it with a king and leave no floor space! Always leave clear paths for walking, and generally leave the middle of each room open to show off its size.

During your showing process, you may even be able to sell some furniture that you didn’t plan to bring with you. Choose a third color sticker for any items that you’re willing to include in the sale price of the house. Maybe that old dresser will seal the deal!

Moving is inherently stressful, especially when you’re forced to leave furniture behind to stage your home. Those items serve a purpose, however, and will help you to get the maximum value out of your property. Even if you’re forced to move quickly, a few hours of planning what stays and what goes before the movers show up will ease the packing tension exponentially.

In his role in the self storage industry, Tim Eyre helps customers care for their cherished belongings that must be put in storage. Tim regularly visits his facilities including a Waltham self storage center. Extra Space recently launched the Extra Space Storage Blog, for which Tim writes on a regular basis.

The post Furniture Staging Questions appeared first on Boston.

Although it may seem like a huge task and it is, de-cluttering your house can be relatively easy if you know how to do it right. Although there are a lot of tasks that you can do, there are three ways in which you can definitely make some headway when trying to de-clutter. Make sure you take note of them and use them well.

1. Segregate your home into segments – Every area in the home has its own set of typical clutter. Regardless of whether you live in a one bedroom apartment or you live in a studio apartment, you should make sure to segregate every area in your home for the clutter. For example, you can segregate by rooms or you can segregate even further by area. If you have a particularly large living room for example, you can segregate it by mantle, television area and so on. If not you can segregate by living room, dining room and so on. Segregating your home will make it easier to sort as you progress with de-cluttering. Make sure any items you find that don’t belong in one area are moved to another.
2. Create a checklist of thing to throw away, give away or keep – Once you have segregated your home, you can create a list of items which you need as well as items that you don’t. Having a checklist will remind you of the things which you will need to throw away or set aside. In addition, writing them down will ensure that you remember whether or not you have completed the task you are planning to do with the item concerned. This is essential for the next step.
3. Carry a set of two containers – Once you have created your checklist move around your home with three containers corresponding to the things to throw away and give away on your checklist of items. Place all the things to throw away or give in each container. This is psychological too because it prevents you from seeing items which you might be attached to but shouldn’t be keeping. This way you can forget that you are giving them away. Once you are done with your clearing you can give yourself a little treat by taking one item out of the giveaway pile.

De-cluttering your house isn’t just an art, it is also a skill. The more often you do it, the more you will find that you are on top of the amount of mess you are making. Remember, in order to keep your house uncluttered, every time you buy something you should get rid of something to ensure your things don’t pile up. As you progress, you will also find that it will get easier and easier and will eventually become a habit.

The post Examples of How to De-clutter Your Home appeared first on Boston.

Today, the internet has simplified the way things are done and more advertising is not the answer to selling your home or other property. When a realtor displays your home on a website a lot of information is provided online. Interested buyers can view the house online and decide if that is what they are looking for. They see the exterior and the interior view of the house in full color. The living room, kitchen, dining, bathrooms and bedrooms are all displayed showing the floor, walls, ceiling, doors, windows and many other features. The garage doors, entrances, corridors, fireplace, basement and roofing are displayed to give the viewer a complete view of the home.

The exterior walls, roofing, doors and the landscaping is shown including flowers, shrubs, grass and trees and if this is someone’s dream home they will spot it right away and crave to see it and finalize the deal. That is why the internet is so effective in marketing and selling homes and other properties. The buyer will spot what they want to buy and take interest in those homes they like right away. Decisions are made faster than when they see a home on a newspaper or magazine and have to travel all the way before they make a decision. On the internet the buyer can take an online tour around the house in the comfort of their home or office without spending money on fuel to travel from one home to another. The internet saves the money and time for the buyer and seller limiting their inquiries to only the homes (for the buyer) and the buyers (for the seller) who are interested in that property.

If you want to sell your home just know that these days, newspapers rarely sell homes. The internet is a faster and more efficient seller of homes to a wider audience (even overseas), than local newspapers.

By: Marc Rasmussen – Sarasota homes

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Getting your Home Ready to Sell

First, it is important to disconnect your emotions. Although you may have years of memories in the home, it will be the new home of another family, and you cannot get too emotional when you hear potential buyers considering tearing out a wall, or covering the wallpaper.

Go through the home and remove all the clutter. Clutter alone is a distraction and takes from the beauty of the home. Go through each room and get rid of everything that is not necessary. Also, box things up to give the home added space. Don’t take from the beauty of the home, but organize and de-clutter.

Give the walls of the home a fresh coat of paint. You would be surprised at how far a fresh coat of paint goes, and it freshens the home and makes it updated, and it is one of the least expensive projects that you can do to get your house attractive in appearance.

Clean the carpets in the home, and all floors, as well as window sills and so on. You might also consider some new hardware for the doors or cupboards in the kitchen or bathroom.

Make sure the outside of the home is clean and presentable. Consider power washing the outside of the home. Make sure the entry is inviting. Clean the outside of the door, sweep and place a potted plant at the entry to the home. Also, make sure that the lawn and landscape are manicured.

When you meet with agents to sell the home, meet with at least three to get a good idea of what your home is worth. This not only gives you a good idea of what you can get for your home, it also allows you the opportunity to meet with various agents and listen to what they will offer you should they be your listing agent. It also gives you the opportunity to choose an agent that you feel the most comfortable with.

Getting top dollar for your home is essential and something that without taking simple steps to ensure its selling price, will cost you profit in the home.

The post Staging Your Home for Sale appeared first on Boston.

Fannie Mae and Freddie Mac

Fannie Mae (FNMA) and Freddie Mac (FMCC) have agreed to delay foreclosures from December 19th through January 2nd of 2012. All of the legal and administrative work required for the evictions will continue during this time. But, according to a statement made by Fannie Mae, the physical evictions will cease. This will allow these families to remain in their homes until after the new year.

“No family should have to give up their home during this holiday season,” said Terry Edwards, an executive vice president for Fannie Mae.

Big Mortgage Lending Banks

Chase and Wells Fargo, major banks that offer home loans, are also allowing delinquent borrowers to enjoy their holidays in peace. Chase Mortgage has vowed to hold off on all evictions between December 22nd and January 2nd.

Wells Fargo has also agreed to not evict during that same time frame. But, this rule only applies to properties within their own portfolio. For loans that Wells Fargo services for outside lenders, foreclosures may still happen. That’s because these smaller lenders have not made this 2011 holiday season vow.

Bank of America, another big leader in the mortgage lending industry, has made a vow that is slightly vague. They said that they will, “avoid foreclosure sales or displacement of homeowners or tenants around the Thanksgiving and Christmas holidays.” Although this statement does not give specific dates, it may help to give BofA’s delinquent borrowers a little peace of mind during Christmas time. Just a little…

Holiday Miracles

Halting foreclosures during the holidays could have a major impact on tens of thousands of homeowners. According to RealtyTrac, an average of 89,000 foreclosure auctions per month were scheduled for 2011. This is the final step in the eviction process before actual eviction occurs.

When we think about Christmas, we think about movies like “Miracle on 34th Street.” This is one of our all-time favorite Christmas movies because everyone wants to believe that miracles can happen. It’s the holidays. Miracles can happen. The foreclosure halts give homeowners a second chance to believe in miracles and the spirit of the holiday season.

You never know. You just may get the greatest Christmas gift ever, or scratch that perfect holiday lottery ticket. You just may get the miracle you need to save your home, because come January 2, 2012, the lenders will be getting back to business as usual.

The post Foreclosures Halted for the 2011 Holidays appeared first on Boston.

When considering agents, there is definitely something to be said for those that have been around to see the neighborhood grow and change. The knowledge that they possess is priceless. But, have they kept up with the times? Even if they have not personally, do they hire somebody to take care of the ‘techy’ stuff for them? If you are getting pressured into interviewing your friend’s great aunt who has been in ‘the business’ for 30 years, make sure you ask specifically what the plan for your listing will be technology-wise. If she brings a booklet for her listing presentation or asks you to fax back your listing papers, she may not be the one.

Taking this a step further, my definition of tech savvy includes a wide variety of things. Having your home listed in the MLS (Multiple Listing Service) is really just scratching the surface. There are literally hundreds of real estate websites it could be syndicated to, but the highest priority ones are; Trulia, Zillow, and Realtor.com. But I am getting slightly ahead of myself. Let’s back up and talk about the photography. It is so critically important. It stands to reason, if the web is where most people’s first impression of your home comes from, it needs to look good. So, either the photos need to be done by a professional, or at the very least a high quality camera. It is still appalling, in this day and age, to see dark, blurry, or shadowy photos of a house on-line.

Being tech savvy is also more than having tools or gadgets. It is the ability to connect with today’s consumers via several different means; text, e-mail, and social media. Some experts have said that increasingly, consumers are searching Facebook first to find information. With the depth of personal data Facebook records, it is typically able to offer more accurate search results to the searcher. In addition, e-mail blasts to other agents or target audiences (apartment dwellers), can prove to be highly effective in getting the word out about listings. It is all about getting your property in front of as many people as possible. For a REALTOR® with a good Twitter following, tweeting is another way to do that Think now about your sign. An empty flyer box and generic phone number will not satisfy today’s buyer. They are looking for instantaneous information. To that order, a real estate QR code or text-for-more-info number can answer that need.

In essence, the number of different ways to use all the available technology is almost limitless. This is absolutely a more-is-more scenario. So, when selecting an agent to list your home, remember that marketing is that agent’s number one responsibility. Make sure that they have at least a handful of ideas that involve more than the typical MLS, sign in yard, and faded flyers. It only takes one good buyer to accomplish your goal of selling your home, so the more people that know about it, the sooner you’ll be home free!

For more information about marketing your Palm Springs home with a tech savvy Realtor, you can you can visit my La Quinta CA real estate website.

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