Louisville Properties Blog
Louisville Properties Blog

Flat Fee Listings

Discount Real Estate Brokers Backed by FTC

The Wall Street Journal reports a bit of news that discount real estate brokerages have been eagerly looking forward to for some time. The article said that the Federal Trade Commission has ordered an affiliate of the National Association of Realtors in the Detroit region to stop certain practices that the federal agency determined illegally discriminated against discount real estate brokers. The FTC made the announcement in early November 2009, and the unanimous decision was the most recent of a series of clashes about competition issues between government antitrust regulators and the NAR. Federal regulators repeatedly pushed the nationwide realty group to abolish rules that marginalize discount real estate brokers at the local, state and national level. The FTC filed the case against Realcomp II Ltd. in October 2006. Realcomp operates a Multiple Listing Service (MLS) that covers properties in and around Detroit and the rest of southeastern Michigan. Local realtor associations own the company. A MLS provides and maintains a database of homes for sale in a given area and enforces the rules for real estate brokers who use that information. The FTC had challenged the legality of Realcomp's rules that blocked some types of listings from being available to prospective homebuyers on Realtor.com and other websites that allow users to browse homes for sale. These blocked listings—also called "exclusive agency" listings—are popular with discount real estate brokers who provide limited services for flat fees instead of charging a percentage of a home's sale price. Are you looking for a Louisville real estate broker to assist you with the a flat fee Louisville MLS listing? Call Louisville Properties today at 502.744.9504 to speak with a fully licensed and experienced discount real estate broker....

Alternative Ways to Sell Your Home

When it's time to sell your home, it is easy but a little expensive to go the traditional route and hire a real estate agent to help you sell your home. They have the resources, contacts and infrastructure in place to facilitate the sale of your home and relieve you from having to do the legwork yourself. However, it has never been easier than right now to sell your home yourself using alternative home selling methods such as:
  • For Sale by Owner (FSBO)
Finding FSBO home selling resources and strategies on the Internet is easy. Many communities have their own FSBO websites that make selling your home much easier than it used to be. They provide tools to build a page for your home with a map, pictures, contact information and plenty of showcase space.
  • Flat fee MLS listings
Instead of paying a commission to a real estate professional to sell your home, some brokers offer flat fee listings on the Multiple Listing Service so anyone in the country can browse your MLS listing. However, when the home sells, the seller still must pay a 2.5 to 3 percent Buyer's Agent Commission to the broker who brings a buyer but it is still much less expensive that the typical 4 to 7 percent a traditional broker will charge.
  • Low cost brokers
These brokers market your home for sale at a very competitive price, which can save a home seller a significant amount of money through greatly-reduced sales commissions. They handle all the paperwork, vet the qualifications of potential buyers, help you negotiate the best price and much more. The unequaled marketing power of the Internet allows home sellers to pursue other methods to sell their home that save them money and attract qualified buyers. There's plenty of...

How-To for FSBOs

Selling your Louisville home and saving money by doing it yourself via the For Sale By Owner (FSBO) route is much easier than you may think if you're willing to do some research and handle the marketing yourself. Many people have discovered that the FSBO tools and resources available online make it much easier to accomplish this and the money you'll save makes a sizable down payment on your next home! Here is a brief how-to for FSBOs:
  • Stage your home – Staging your home makes it easier for potential buyers to imagine how they and their furniture will fit into your home. It is also a very effective means of pre-packing for your move.
  • Don't over-price your home – If you're asking more than comparable homes nearby are selling for, most prospective buyers won't even contact you and you're setting yourself up for a long wait. Over-pricing is the single biggest reason why FSBO homes languish on the market month after month.
  • List Your Home on the Local – You don't have to pay a high priced broker to get your home listed on your local MLS.  Many local brokers and National firms are offering flat fee listing packages today as a competitive options.   For national flat fee agencies,  just Google "Flat Fee MLS Listing".  If you live in the Louisville area, learn more on Louisville Flat Fee MLS Listings here.
  • Consider hiring a real estate lawyer – It will erode a bit of your FSBO savings but in the end, it's a very smart move to have a real estate lawyer protect your interests. It will provide...

Why Flat-Fee Listings are Valuable to FSBOs

A recent article about FSBOs published in the Edmonds Beacon discusses the advantages of real estate owners selling their own property without a real estate agent or realtor. It's a timely article as most folks are looking to trim expenses wherever possible with the nation's economy continuing to struggle. However, while owners stand to save some money by selling their homes themselves, a modest investment in flat-fee listings can make a huge difference. Here's why flat-fee listings are valuable to FSBOs:
  • Realtor MLS listings. Making an investment in flat-fee listings puts your FSBO home on the Multiple Listing Service, which allows real estate agents to find your home for sale for their clients.
  • Listings on the Internet. When people are looking for a home to buy, they're looking at real estate online from the comfort of their home. An online listing makes it easy for people to discover the features of a FSBO and see relevant information, such as number of bedrooms, bathrooms, closets, lot size, etc.
  • Virtual tours of your home. A flat-fee listing allows a FSBO owner to post up to 20 images of a home and lets online shoppers take a ‘virtual tour' through their Internet connection. Even the most descriptive words and phrases cannot ignite a potential buyer's imagination quite like a photograph.
  • Yard signs. A buyer will oftentimes be ‘just driving by' when they see a For Sale sign in the yard of a home they eventually buy. Yard signs may be the oldest form of FSBO marketing...

How to Sell Your Home

Every homeowner has a unique set of needs when it comes to selling a home. Some people excel at getting the word out and meeting with potential buyers. Other homeowners take to the paperwork and marketing like pros. Depending on the strengths a homeowner has, there are several ways to sell a home. Here's a comparison of three common ways to sell your home: For Sale By Owner (FSBO) For the homeowner who does not mind doing some extra legwork, the FSBO route can save a bundle in agent's commissions. However, deciding to sell your home without a sales agent can expose you to a lot of pressure. You are responsible for marketing your home, answering potential buyer questions and being available for showings. On top of these tasks, you are responsible for the paperwork that a sales agent usually handles. Good FSBO Candidates: Confidant, Educated, DIY Homeowners Flat Fee MLS Listings Flat Fee MLS listings are a good choice to augment a FSBO strategy. With a single fee, you can list your home with the REALTORS®'s MLS, plus one or more local real estate websites. Since most homebuyers work with a buyer's agent, choosing a flat fee real estate listing service puts your home in front of professional agents who are actively seeking homes. Good Flat Fee MLS Listings Candidates: Any Home Seller without a Seller's Agent Full Brokerage Service A full brokerage service handles virtually all aspects of a home sale. Marketing, showings, listings, paperwork and other tasks are handled by a professional real estate agent. This top-notch service comes at a price: the agent's commission. However, if you are unable to spend the extensive time needed to market and sell your home, a full brokerage service may be a good choice. Full Brokerage Service Candidates: Extremely Busy Homeowners...

Flat Fee Real Estate Listings

As more sellers turn away from agents as a way to increase profits, flat fee real estate listing services have emerged as a way to reduce seller costs while still taking advantage of the real estate listings network. Here's a look at the common features of flat fee listing services. The basics of a flat fee listing service are simple: A single fee covers listings in the Realtor's Multiple Listing Service (MLS), which gets your property in front of hundreds of professional agents. Since an overwhelming majority of homebuyers contract with an agent, getting your property on the MLS is a huge step toward the sale of your home. In addition to the agent's MLS, many flat fee listing services place your property on several Internet real estate sites. Better flat fee listing services will get your property listed on real estate websites with local reach, such as LouisvilleProperties.com, as well as nationally recognized sites like Realtor.com or HomeAdvisor.com. Some flat fee real estate listing services provide a yard sign. This important marketing tool attracts the attention any potential homebuyers researching your neighborhood. Usually, a sign will include space for your contact information so you can convert a casual once-over into a serious inquiry. A key lockbox is a common extra included with a flat fee listing service. A key lockbox enables agents to schedule viewings more often and frees you from the hassle of being present at showings. When it comes to the sale, not all flat fee real estate listing services give you equal value. If you are interested in flat fee real estate listing services, please read the details of the service agreement. Some service providers will lock you into a specific commission rate with the selling agent. Other services may restrict your right to sell on your own. Double check these details now and save yourself a nasty surprise at sale time. If you have any questions about Louisville real estate or Louisville...
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