How Multipe Listing Sales (MLS) Help Sell Your Home

Choosing your realtor today is a big decision. Whether you are looking to sell your home fast, go through FSBO (For Sale By Owner) or through a traditional realtor, selecting a representative for your home to deal with the listing, the marketing, the sale and the legal work that goes with it is something that should be trusted with only the most trustworthy realtors.

Today we are going to talk about the listing your property and how a Multiple Listing Service (MLS) helps sell your home and how it also helps to sell your home faster.

There is a difference between exclusive and multiple
OK, we know, that makes complete sense and you don’t need us to spell out that particular difference, however, when it comes to selling your home this can have a major impact on what helps to sell your home for the best possible value in the quickest timescales compared to a quick sale promotion or having to wait for a long period of time until you can sell your home.

Some of these solutions may suit you, others may not. Let’s be honest. If you want to get the best deal for your home, you need it to be seen by many people, in the shortest time possible.

This is where Multiple Listing Services (MLS) come into play
Today, the process of buying a home has changed dramatically from just a few years ago. It used to be that you would go across neighbourhoods, ones you particularly liked and noted any homes that were for sale. You would then call realtors and get prices, be sent information and then arrange a visit.

Today, home selling starts at the monitor. That’s right, the power of the computer has taken over. According to the 2016 National Association of REALTORS® Profile of Home Buyers and Sellers, 51% of buyers found their home through the internet.

You need to think about where your audience is and their behaviour. How are they getting their information? Where are they getting their information? How can you get your home in front of their eyes?

It comes down to savvy marketing skills and knowing the market. Listing sites are the best avenue to get in front of your audience, a relevant audience, one with the intent to buy.

MLS forms part of today’s real estate marketing. It allows you to place your home in the hands of multiple realtors, online and bricks and mortar to get your home sold. The concept is simple, get your home to the right people at the right time, with the right intent.

What are the advantages of Multiple Listing Services (MLS)
A multiple listing service (MLS) has many more advantages than just putting your home in front of a wider audience, although that is the biggest. There are other factors to consider as well;

It breeds competition to help sell your home quicker
If your home doesn’t sell, you don’t owe the agents anything*
You’re free to market the property FSBO
You can halve the commission as you would only pay for the selling portion of the home.

*Some agents may ask for you to pay a base fee, say $100 dollars to be listed.

Naturally there are some disadvantages to Multiple Listing Services (MLS)
There is always a case that there could be disadvantages to selling this way as well;

Some buyers may perceive that multiple listings could mean there is a problem with the house
Some buyers may decide that your house is an easy purchase and try and drive down price
Some buyers may call around the different agents to see if they could start a bidding war to lower your house value

So what are the right tactics with a Multiple Listing Service (MLS)?
You must know that when it comes to going down the MLS route, you have confidence in the agents placing your home there. MLS tends to be for the FSBO seller, but one that understands that by using a realtor they can get some of the marketing and placement benefits that are otherwise missing from a FSBO sale.

How does Fast Florida House Sale handle your MLS?
Naturally, at Fast Florida House Sale we can list your house on Multiple Listing Services to help sell your home fast. We however have a bit of a different stance on how to do this.

We believe that every home seller deserves the opportunity to get their home seen by as many people as possible to get the attention going as fast as possible. We therefore believe that your home should be listed with the right agents, right sites for no fee. If you don’t sell the property, there is no sale fee,

We will work for you to be seen by the right sites like RightMove, Realtor.com, Zillow and many more.

Why? Because we want our clients to be seen and their homes to be sold, for the best value in the quickest possible time. Multiple Listing Services can do this, and we want it to help you get your house sold fast.

Read More

Maximise Your Home Selling Potential : Price

Whether you have gone down the tried and tested realtor road or a fast for cash house sale scheme, one thing becomes very apparent when you’re selling your home; “am I maximising my home value, am I selling at the right price?”

The real question here is, “how should I price my home?” It’s easy to get caught in the trap of, sell it for the most amount of money you can. In fact, that’s not so much a trap but sound financial advice, moreover, what you want to know is, what is the real value of my home, and how can I get it?

The single most important factor about any house sale is the price you’re asking. It’s that old biblical story of “ask and you shall receive” but there is a caveat, ‘you need to ask intelligently.’ You can’t expect to sell your home for $150,000 if the local market place hasn’t broken through the $120,000 barrier.

Pricing is all about supply and demand, there are agents who know how to price at the market value, there are those who understand the market intent. In both cases, this requires time, experience and a strong understanding of where your home can have the most impact from a sales perspective.

If you were looking to sell your home FSBO then understanding the sales principle is fundamental. Researching the market may not be enough, and if you go with a realtor who is looking to make targets over actually selling your property, then you can have some issues with getting the wrong kind of buyer – someone not willing to buy your house at market value, for example instead of someone with the right intent. How you price your home will  affect your house selling potential, period.

Look beyond the market, compare house for house
It’s great to look at the market place. Let’s say you live in Fort Lauderdale, and you have a three bedroom home on the market. It has a nice yard, parking, garage, a nice kitchen etc. Now let’s say the house across the street is for sale, similar setup but it is on the back of a marina. It has access to waterways etc. You could be talking of a price variance of $100,000.

What you need to do is be specific with your home comparisons. Going back to our example, you may want to search for homes more like yours than compared to the one across the street which will give you a better example of your house price. Only then will you see where your market value and price threshold really is.

Look at the homes that have sold
However you go about pricing your home, with or without your realtor, you want to also look at the homes that have sold. From this set of information you will be able to see;

  • What was the actual value of the house on sale compared to For Sale price.
  • What the average market reductions were. For example, 15% difference between For Sale and Sold for one area may apply to a style of home over another.
  • See what homes were taken down from listing and then re-listed and seeing what the price variance was at that point.

Look at the homes that did not sell
There will be numerous homes that did not sell. There will be reasons why they didn’t as well. One thing is guaranteed however, price will have had a major factor. You can learn from the mistakes of those that didn’t sell by seeing what kind of market they were in and how they priced their homes.

Square foot comparisons
It seems like a given that you already know what your house square foot measurements are, but there is something more to this than meets the eye.

  • Once you’ve sold your home, a buyer’s lender will order an appraisal and will want to compare to homes of similar square footage; if your house was overvalued, this will show up.
  • Appraisers don’t want to deviate more than 25% and prefer to stay within 10% of net square foot comparisons.

Market dependent pricing
And finally, pricing your property is market dependent, OK, so we knew that but what we mean here is, is it a buyers market or a sellers market. They will vary greatly for what you will be able to do in order to maximise your house selling potential. For the following example, let’s say your house is $150,000.

  • In a buyers market, you will be able to achieve close to your house value price. Let’s say that when compared to other homes, similar square footage, features etc, the buyer may have limited wiggle room if the prices are in the same ball park. Here you could expect to sell your house between $145,000 to $149,000.
  • In a sellers market you have more people searching for houses than actually available. So in this case you may want to add 10% to your house value, so $165,000 is your new selling price and you can look to make a bit more profit on your home sale.
  • In a balanced market you may need to edge to what the last house that sold similar to yours went for and adjusted slightly for market changes. You may be able to add 1% to your sale value, $154,500 or take 1% off, $145,500. This is where you need to best judge your market sale value.

To maximise your house selling potential, price is the first big step into getting the right position for the market place. Keep aware of the market and make sure your realtor is working with you on a price that can sell in the market and not plucking one out of the air.

Read More

So You’ve Decided To Sell FSBO

Selling your house can be an exciting and somewhat stressful time, but there has been a pattern emerging for the last decade in going it alone and selling your home all by yourself, FSBO. (For Sale By Owner)

Obviously, we as realtors have seen many sides of this sale model and with any level of service we have come to understand what works and what doesn’t work as well. This is of course not saying that FSBO isn’t a model that doesn’t work well; there are many homes and more individuals selling their property through FSBO than ever before and the market is constantly growing.

But today, we wanted to discuss with you the process of selling FSBO and understanding what you as a seller need to do to make your property stand out, and importantly, sell.

Selling a house, whether it is FSBO or with a realtor requires the following basic principles;

Pricing your house correctly
Qualifying your buyer
Advertising your property
Knowing the laws and regulations to a house sale

Pricing your house correctly
This is one of the most important, if not, most important aspects of selling your home. Too low and you undervalue your house and your potential sale value after all the expenses paid out. Too high, and you may not even attract viewers, and when you do, you will get some offers that can completely undervalue your home.

If you’re looking to sell your house fast, undervaluing your property is the quickest way to attract viewers, but you need to understand if they are serious about your house sale, or if it is window shopping. (More on that in qualifying your buyer).

Are you aware of the property market that you are in? Do you know the local area well enough when it comes to the property market? Have you looked at house value prices? Have you seen what the expected market values might attract over the next coming period?

These are important considerations, especially when you are selling your house. One of the apparent advantages of selling your own home is that you get to dictate a little more the conditions, but this is what the market will decide, so you need to understand how the market is behaving before you can price your own home.

Qualifying your buyer
There is the famous scene in Glengarry Glenross where the sales staff are taught the rules of selling, ABC. Always Be Closing. It’s vicious, crude and downright antagonistic! But this is one of the things you need to be able to do when it comes to selling your home.
This is about understanding the person and their interest in buying. People are prone to window shopping, seeing what they could buy if they had money, or what type of property might be available for them in 12 months time.

These are the kinds of viewers you want to qualify early. A realtor will do this over the phone, they will ask questions where the intentions are clear and sometimes, this can stop people from even viewing the property and wasting your time; when you go FSBO you will need to gather the acumen to do this as well as the ABC rule of sales.

Advertising your property
You will see that there are sites where they offer advertising for your FSBO, however, do you know what market range they have? Do they place your property in the paper? Are they proactive with you and your property? Are they doing everything to get your house sold?

The answer is more than likely not. There is little in it for them other than an advertising fee, so then you need to take charge. You need to get your property MARKETED! Yes, there is difference between advertised and marketed, especially in a FSBO sale.

You need to take charge of the advertising, driving attention and money to getting the best deal possible for your house to be seen by as many people in the area and beyond to get your house sold. Realtors, good realtors, like ourselves, look after that.

Do you have access to a portfolio of buyers? Do you have access to a portfolio of international investors? Do you have the time to chase these leads as well as generate new ones?

Knowing the laws and regulations of selling your property
Legal documents are no joke when it comes to selling your home. The last thing you want to be doing is creating more work, spending more money and getting nowhere, fast because you don’t have the paperwork to get this area of your home sale organised.

If you don’t have the skills to write binding contracts, you will either risk your house sale completely or have to hire someone last second to get this completed at a great cost to you and your personal finances.

How much do you know about, buyer’s contingencies, seller disclosure laws, lead based paint issues, financing options, title and deed requirements? Any of these things can lead to post sale legal disputes and you want to avoid these at all costs.

The easiest thing to remember with anything legal… be prepared. Get your documents in order. Go and speak to a realtor about the kinds of contracts you need to put in place, speak to a solicitor about handling the paperwork, do whatever is necessary to make your house sale worth the time and investment by going it alone and not having to think about legal repercussions afterwards.

In conclusion
Selling your home through FSBO is achievable, but there are hidden perils and you need to be fully aware of these before you decide that you want to sell your home this way.

There are many different things to consider as well as the list from above.

We haven’t touched upon scams, home safety, negotiation or the other myriad of things that are essential to a home sale. Most FSBO sales are performed through some sort of realtor service anyway, so you need to be aware of a 3% charge (in some cases 6%) without having any of the benefits associated with a realtor looking after your home sale.

Selling your home can be stressful and if you were to get any of the above wrong, it could add to that stress greatly. Be prepared to learn day to day, learn how to market and get your house sale on track when you go through FSBO.

Read More

How To Sell Your House Fast : Bedroom Makeover

How you present your bedroom is going to be one of the key things that a potential house buyer will use to assess how much work the rest of the house will need. After all, you spend a quarter of your life sleeping, so if your bedroom isn’t up to standards, how can the rest of the home be? Right?

Styling a bedroom for a house sale is going to be a simple yet time heavy feature, simply because you will have large pieces of furniture that you will need to consider storing away for a few days, this includes your bed!

So what are the key guiding tips to selling your home fast by using your bedroom as a guide? Following our bathroom guide, here are just some tips to get your bathroom into that perfect “sell-worthy” standard.

Create Space
When you’re creating your bedroom style and design, you want to also create the sense of flow/space that means that potential buyers will feel at ease with the property and the space that they are in.

Look at hotels, 90% of them have the same floor plans because it is something simple and works. If you have large, clumbersome wardrobes, for your house sale, take them away. Clear your areas of chair or soft furnishings which will block people getting from one area to another.

layout bedroom

Play on optics
What you want to achieve here is that, even if your room is not the biggest, you want people to believe it is through optical illusions. So, how do you that?

Windows are the key. If your bed can go in a location where there is good flow in the room and you can get a great view of the outside then point the bed in that direction, and then most importantly, keep the blinds up. You want people to see what they will be seeing first thing in the morning, if you have a view, use it.

If you have wall space, use the area to hang big mirrors which will create a big optical illusion, and lights help massively – small room, small lights, big room, big and small lights. Illuminate the walls and really tell a story with softer plays on your bedroom space.

mirrors beds

Make it homely
One of the big pieces of advice that an interior designer will give on a new project is “make the rooms homely and personal to you.” There is no better and no worse place to get this wrong than the bedroom.

The key is to keep the homely element but remove the personal. Personal objects should be removed from the bedroom, but homely objects never. If you have great blankets or throws, use them. If you have variations of colour from fabrics and materials, showcase them. If you have space for long curtains that give you a sense of warmth, use all elements to get your bedroom your showpiece area.

bedroom homely

Read More