Homeowners are beginning to take the sale of their home into their own hands and save a substantial amount of money in the process. For Sale By Owner (FSBO) signs are popping up everywhere because it can save a seller thousands of dollars and some bouts of anxiety too. The truth is that selling your home is not as difficult as it once was a decade ago before homebuyers discovered the Internet and shopped online. Reozom.com reports that in 2016, 44 percent of homeowners shopped online first when buying a home. That is good news for home sellers who want to save money. Continue reading
Multiple Listing Service Listings in Michigan
In the state of Michigan, there are a number of properties in real estate that are listed for sale. The one source that has the most comprehensive lists of available properties for sale is the multiple listing service. This is a directory that provides a listing of all properties that are currently being sold on the market in Michigan. On the multiple listing service, you will be able to find a number of properties of all types as well as with a variety of certain features. Whether you are a buyer, a seller or a real estate agent or broker, you will get plenty of access to very important information on real estate from the multiple listing service in Michigan and from sites such as Reozom.com. Continue reading
Selling real estate is often a significant activity for homeowners. They will often need to sell their property within a certain timeframe. In most cases, they will often hire a real estate agent or broker to sell their home. While this is a very beneficial option, there are some homeowners who prefer to sell their homes themselves. Whenever a person sells a house themselves, it is known as a For Sale by Owner listing. There are many for sale by owner listings in Florida. In order to make selling a home easier, using the services of a company such as Reozom.com will be very helpful during the process. Working with a company such as Reozom will enable homeowners to save money, show their homes at a time that is most convenient for them and also to get market analytics of their property and comparable ones in the area. Continue reading
There are a number of real estate properties for sale in Florida at any given time. For those who are looking to sell a home, they will need to let the public know that their property is available. For those who are looking to buy a property, they will need to find a good place to find all available properties. In order for both parties to achieve their respective objective, they will benefit by using the multiple listing service. This is a directory of all homes that are currently being sold on the market. The best person to help you navigate your options with the multiple listing service is a real estate agent or broker. In the state of Florida, there are a number of quality properties on the multiple listing service. For those looking to sell a property, they will benefit by using companies such as Reozom.com. This company will provide sellers with market analysis, assistance with scheduling showings and also with a general listing of the property to sell. Continue reading
What are For Sale by Owner homes?
A For Sale By Owner or FSBO is a home that is listed for sale without a real estate agent. Most homeowners who choose to do a FSBO do so to save money because there is no real estate agent commission. While commissions can vary, they usually account for 6% of the home’s sales price. This fee is split between the listing agent and buyer’s agent.
Can For Sale by Owner list on MLS?
The MLS or multiple listing service is the foundation of the real estate market. It’s a massive database of home listings with about 700 regional databases. Every regional MLS has its own listings and real estate agents pay dues to access the MLS and post homes. Many websites you will see that list homes for sale actually aggregate home listings through condensed versions of MLS listings. Continue reading
Many people who are looking to sell a home will often enlist the services of a real estate agent or broker to complete this task for them. In most cases, realtors make the process easier as they will devote their efforts towards selling the home. While a realtor is very beneficial for many sellers, there are some people who prefer to sell a home by themselves. Whenever a person sells a home independently, they will list their property as a for sale by owner. This has been one of the emerging trends in recent years. Many people in the state of Michigan have looked to sell their homes without the assistance provided by a realtor. When looking to list a home as a for sale by owner, it will be important to consider a number of things. These include the types of homes sold, the price, size, condition and also on how to market the property. By focusing on these things, sellers will be in better position to sell their home in a timely manner as well as educating buyers about the property. Sellers who offer FSBO listings will benefit by using companies such as Reozom.com to help them with the process. Continue reading
If you’re thinking about selling your home, there are a variety of things to consider. For example, is for sale by owner a viable option, or should you enlist the services of a professional realtor. That said, if your goal is to save on realtor fees, listing and selling your home on your own might be a more attractive proposition. But what does this process entail, exactly? This is a common question that many homeowners have, and in this article, we will explore the tenets of selling your home without the aid of a professional realtor.
It should be noted that selling your home on your own does not absolve you from the task of listing and showing your home to prospective buyers; this is still a necessary, and critical, step for selling a home. However, if you have never sold a home, this process may seem daunting. Fortunately, there is a myriad of online services that can help streamline this process for you, Zillow being one most recognizable. Continue reading
Trulia is an online platform that deals with the residential real estate for renters, home buyers, home sellers as well as the United States real estate professionals. Trulia forms one of the best sites in the online real estate business with some more new features hence, making it outstanding. The Trulia platform offers similar services like those of Zillow. Zillow used 43.5 billion to acquire Trulia in 2014. The company arranges properties for rent and sale including data and tools required in the process of home search. Trulia site will help locate your next home. The website presents a new resident info map that is not available anywhere else. The platform serves millions of users across the world who wants to sell or buy their homes within the United States. In addition to this, the company provides new updates on new rentals and houses that are fresh in the market, the price history of the homes as well as information on their affordability. Trulia platform not only serves the real estate sector but also offers the best instrument that conveys all the central statistics about properties. The main features of the platform include: Continue reading
Selling a Home on your Own through Flat Fee MLS/FSBO Listings
I. Why sellers choose flat fee MLS/FSBO listings:
- The seller wants more control of the sales process
- The seller does not want pressure from a real estate agent demanding that they sell to anyone for any price.
- The seller prefers to save money on real estate fees.
II. How to sell your home on your own
- Cut out the middleman
- Get your property listed on an MLS
- Market your Listing
III. Why the popularity of MLS/For sale by owner has grown over the years
- According to MLS data, flat fee MLS listings sell faster than full commission listings sold by traditional realtors.
- For Sale by Owner (FSBO) users who list on MLS’ using an entry-only MLS listing end up selling their home on average for a higher price per square foot than homes sold by traditional full commission agents
- Flat Fee MLS listings allow homeowners who want to list by owner to save thousands of dollars in real estate commissions
- 2014 data available for a Massachusetts MLS system showed that 198 single family homes sold in 2014 across Massachusetts that have leveraged the entry only through MLS process (seller lists on the MLS for sale by owner without a realtor) carry an average days on market (DOM) of 89 and the average sales price per square was $213
- In contrast, 11,623 single family homes that were sold by traditional real estate agents charging a full commission where the average days on the market was 109, the average sales price per square foot was $205
- In 2014, on average, FSBO’s who listed their homes in MLS with an entry-only MLS listing have saved $10,790 in real estate agent commission
- In 1981, 22% of home buyers read newspaper ads to find a home and 8% used friends as information source. In 2016, 44% looked for properties online first. In today’s digital age, search for homes is done through apps and online listings to maximize the ability to compare homes on the market according to selected features.
Please note: This article is provided for helpful purposes but should not be considered legal advice.
With the exception of a few times in our history, real estate has always been one of the best investments out there. Whether it is a single-family home or a complex, you can’t go wrong with investing in real estate. So, to get involved in this extraordinary market, there are different questions that people who are interested in this market have. And thus, the following includes real estate FAQs and their answers:
Are real estate agents self-employed
Most real estate agents are self-employed. They can set their own schedules even though the hours are often irregular. Other than that, other real estate agents work for companies. When they work for a real estate company, they pretty much have a certain level of freedom in handling their jobs, but they still must abide by the company’s constraints.
Are real estate deposits refundable
It depends. First, it’s vital to read the contract to see the bottom line concerning the refund of the deposit because you may or may not be able to get a refund. Even if the buyer is displeased with the home inspection, he/she can’t get the deposit unless the seller agrees to the deposit refund. The seller can deny the deposit release if he/she feels the buyer didn’t act in good faith in attempting to satisfy the condition whether it is a condo status certificate, financing, or a home inspection.
When shopping for a house to buy, there are many different online tools to choose from. One tool that can provide you with a lot of information about homes that are available for sale is Zillow, which an online real estate database that was first established in 2006. Below are several frequently asked questions and answers that will give you more insight into Zillow and how it works.
Are Zillow Zestimates Accurate?
When looking for properties on Zillow, the majority or properties in the database will have a “Zestimate”, which is a real estate estimate provided by the Zillow database. Overall, the Zillow estimates are considered to be fairly accurate as they take into consideration recent sales and other listings for comps in the local market as well as tax records. However, the value accuracy is only as good as the information available. If the information on the home, such as the square footage, number of bathrooms, etc. is wrong, the Zestimate will be less accurate as well. Continue reading
Reozom is all about Transparency. To prove this Team Reozom is “Getting Naked” by showing all the cancellations received in 2015 & 2016 with the Sellers outcome after switching over to a traditional Real Estate Agency. The numbers prove what Reozom has continued to state since 2008. It’s not about getting to the “Next Level” of marketing. It’s only ever about the PRICE! This data is based on an average 3% Listing Agent fee. On a home that sells for $250,000 the Broker Fee is about $15,000; you can avoid this by selling it yourself. (based on 6%) Agents believe they can get you more money through negotiation, leverage of local knowledge, use of marketing tools and ability to qualify buyers. Reozom’s full frontal Real-Time numbers
This data is based on an average 3% Listing Agent fee.
On a home that sells for $250,000 the Broker Fee is about $15,000; you can avoid this by selling it yourself. (based on 6%) Agents believe they can get you more money through negotiation, leverage of local knowledge, use of marketing tools and ability to qualify buyers.
Reozom’s full frontal Real-Time numbers proves them wrong! In 2015 Reozom had 135 total listing Cancellations & 2016 we had 123 Cancellations. Yes, these are pretty big numbers and that is why Team Reozom has researched into why. Agents convince Sellers they are missing the market by being listed through Reozom.com. This proves they are wrong!
Only 59 of those Cancellations listed with a Traditional Agent in 2015 Sold & 45 in 2016 (Many decided to not Sell).
Reozom identifies as a real estate technology company, but that doesn’t mean our team consists of a bunch of robots! Here at Reozom, we care about our buyers and sellers and we do all that we can to help their real estate transactions be successful ones.
Here are a few ways Reozom goes above and beyond:
1. Top Notch Customer Care Team
Reozom has a dedicated and driven Customer Care team that is available online or by phone to help you with anything you may need. Whether you have a question or want to know more about Reozom, they can give you any answer or assistance.
Reach out to them at firstname.lastname@example.org or call (810) 987-1100. They are always happy to help!
2. Social Media Presence & Marketing
Reozom is active on multiple social media channels, which helps grow the pool of potential buyers for our sellers. We post on social media daily and also post every single listing on our Facebook page. Our team knows that our social media audience is mainly Millennials, which is great for our sellers because Millennials make up the majority of buyers on the market.
We have created marketing campaigns that highlight our seller’s listings such as our #ReozomHome of the Week campaign. Every week we feature a Reozom listing and post it on all of our social media channels.
3. Quality Platform and Design
Our awesome and incredibly talented development team works every day to build Reozom into a stronger and better platform. We have put a lot of focus in making the Reozom experience as effortless and intuitive as possible.
Plus, we pay attention to detail. Our development team designed our listing pages to accentuate the property photos and provide simple navigation. An online listing page is often the buyer’s first impression of the home, so having a gorgeous site design was very important to us.
Reozom is a tech company that is ran by a team with a lot of heart. Our team always has our user’s best interest in mind. We are here to make your real estate experience a better one!
The reality of real estate right now is that buyers want move-in ready homes. The majority of buyers in the market are Millennials and this generation is used to getting exactly what they want when they want it.
Reozom, the online real estate transaction platform, has an online social audience that is mainly Millennials and Gen X-er’s (which is awesome for our sellers!). Because of this, we know what these buyers are looking for.
Basically, if your kitchen or yard is “on fleek”… you will attract a lot of buyers. Current buyers in the market are drawn to surface-level qualities of a home. This is actually a good thing for sellers because most of these improvements are quick fixes that can be done easily and inexpensively.
Here are 3 home improvement ideas that will make any buyer do a double-take:
1. Fresh Paint & New Carpet
There’s nothing closer to pressing the reset button than freshly painted walls and newly carpeted floors. Not only does this add a clean vibe to the house, it is very appealing to buyers. It makes the home feel like a blank canvas for them to make their own.
Even better, this fix can be decently cheap. You can often find great deals on paint and carpeting. If you don’t mind putting in a little work yourself, the project will cost even less!
2. Stainless Steel Appliances
So, it’s not news that buyers LOVE stainless steel appliances. Updated kitchens can make a huge impression for buyers. They really love granite countertops, but if you’re not looking to do a total kitchen overhaul, getting stainless steel appliances will boost the appeal with very little effort on your end.
3. A Landscaped Yard
Curb appeal is still a very real thing. A picture of the house and yard itself is usually the first photo shown on an online listing page. The home’s yard can have a major impact on the buyer’s initial impression of the property (in-person and online). Taking a Sunday to plant some flowers will absolutely be worth it.
If you are thinking of adding some trees or shrubs in the yard, keep in mind that buyers are also looking for little upkeep. Plant trees that don’t require a ton of trimming and maintenance.
All of these quick improvements can help move your home off the market fast!
When we say “real estate transaction,” you then probably think of all the stresses that come along with it. It usually involves playing waiting games, figuring out confusing paper documents and then having to negotiate the deal.
It’s no wonder that many of us hire a real estate agent to help us out. But that was before the technology of Reozom‘s online real estate transaction platform. Reozom is intuitive, easy to use and best of all, it can save you thousands of dollars on expensive commission fees.
Here are the top 3 perks that Reozom provides for the home buyer and seller, so they no longer have to deal with the pains of real estate.
1. Instant Gratification
A residential property can be listed on Reozom in under an hour. Reozom then blasts it off to be marketed on other major sites like the MLS, Zillow, Trulia and Realtor.com. It could take 3-7 days for you to see a listing live online when going the traditional route.
Buyers can also schedule showings directly on Reozom within seconds. Typically, the buyer will find a listing online that they like and call their real estate agent to tell them they want to see it. The buyer’s agent then has to call the listing agent and then the listing agent needs to call the seller… so on and so forth.
With Reozom, that’s no longer the case. We connect the buyer and seller directly, so showings can be scheduled with a couple clicks.
2. Effortless Paperwork
People are usually pretty intimidated by the “paperwork” that comes along with real estate transactions. When listing a house through Reozom, the seller will complete all of the legal documents while being guided through our simple, online listing process. All of the documents auto-populate and can be signed electronically by the user upon submitting their listing.
As for all of the other paperwork you may be thinking of, that’s mainly completed by your title company. So make sure you find a great title rep that can help you out.
3. Streamlined Negotiation
Negotiating can sometimes be tough, especially if you’re not used to doing it. On Reozom, buyers can submit offers directly to a seller through our platform. Sellers can then decline, counter or accept the offer without ever having to pick up the phone.
Once the offer is accepted, a Purchase Agreement automatically generates so you can email it to your mortgage and title reps. It’s as close to effortless as you can get.
Did you know that June is National Homeowner’s Month?
If you are a first-time homebuyer, you may not be aware of all of the benefits that come with owning a home. Reozom‘s online real estate tech platform makes the buying and selling of a home easier than ever.
Make sure to head on over to our platform and start shopping after reading these homeownership perks.
1. Owning a home is a smarter investment.
Owning a home means you are investing your money in your own future versus investing in a landlord’s. Over time, your home will most likely appreciate. This means that you will make money when it comes time to sell. Often times, the money made from selling your starter home will give you a nice down payment for your move-up home.
Plus, owning a home is actually cheaper than paying rent. A Pulseconomics report determined that paying median rent costs about 30% of an individual’s income. The median home payment costs about 15% of an individual’s income.
2. Homeownership gives you tax benefits.
A lot of people don’t realize that being a homeowner actually gives you a few tax breaks. You can deduct the interest you pay on your mortgage (within limits) as well as interest on other home related loans such as home equity and home improvement.
Learn about other tax breaks related to homeownership here.
3. Having a home gives you freedom.
When you own your home, you can do whatever you want with it. You can completely tech it out or get the puppy you’ve always wanted. Plus, you can paint and decorate exactly as you please.
Having the ability to live freely and create a custom living environment actually winds up being many homeowner’s favorite part of having a house.
These are only a few of the perks that go along with owning a home. Begin your home search on Reozom.com today!
If you’ve been playing around with the idea of selling your home, we’re here to tell you, “Do it!”
Here at Reozom, which is an online real estate transaction platform, we have been watching listings flying off the market. Here’s why you should list today:
1. Inventory is low.
Michigan is still a Seller’s Market, which means that conditions are favorable for the seller. There are more buyers than houses, so the seller’s property is in higher demand and is very likely to get what they’re asking for (or in certain cases, even more).
Buyers are looking for finished, move-in ready houses. Today’s buyers live in an on-demand world and they want the same for the house they are about to buy. Make sure to keep that in mind to increase the success on your sale!
2. Opportunity is high.
In Southeast Michigan, homeowners have more jobs, money and equity in their homes than they’ve had in 10 years. Homeowners who have felt financially trapped in their homes (due to the housing crash) are now finally free to move.
The opportunity for having a better job and making more money is only increasing. According to the U.S. Bureau of Labor Statistics, job growth in the Detroit area has been outpacing the national average at 2.2%.
3. Mortgage rates – yep, they’re still low.
Buyers are on the prowl because mortgage rates are still below 4%. If you are a homeowner wanting to sell, it’s the perfect time to put in an offer on your move-up home, too. You will get the most for your current home and then be able to lock in a mortgage for your new home for much less.
It’s a win-win all around for everyone. So, we suggest making the bold move and selling.
Here at Reozom, we have made the entire real estate transaction easier, faster and more affordable than it’s ever been. You’ll be shocked at how simple the selling process is when using our tech platform.
Head on over to our Registration page to get started today!
A “disruptor” is a company that goes against the grain in order to evolve an industry. Our online real estate transaction platform, Reozom, is considered a disruptive company because we shake things up when it comes to the norm in real estate.
By leveraging technology, we are able to save homeowners thousands of dollars in their real estate transaction by eliminating expensive agent commission fees.
Here are other companies that may not realize were once disruptors:
Amazon completely changed the game when it came to online shopping. By offering unbeatable prices, people began browsing on Amazon to buy pretty much anything.
Amazon also upped the ante when it came to one-day shipping or even day-of shipping. Now we even use Amazon to binge watch our favorite shows or arrange for every day household items to arrive right on our porches.
Our guess is that you’re probably reading this on your iPhone, so all you have to do is take a look at what you’re holding to realize why Apple was a disruptor.
Apple’s release of the iPod back in 2001 was a total revelation for the tech world. Think about it, this was back then people were still walking around with portable CD players. Now, we are able to manage our entire lives right from the palm of our hand.
I think we can all agree that the on-demand streaming of movies and shows that Netflix brought directly to our televisions was either the best thing that ever happened to us (or the very reason for our own demise).
Ikea isn’t such an obvious one, but it absolutely was a disruptor. Ikea gave us the ability to buy cheap furniture and instantly furnish an entire house, if we so desired.
Although, let’s be real, Ikea could still help out by making the dressers just a little bit easier to build.
Two guys that knew nothing about the taxi industry completely transformed the taxi industry after rolling out Uber. Now, even people who live in the suburbs have the luxury of hitching a ride to a concert or the bar.
Not to mention, documenting an Uber ride on Snapchat now provides all of us with some high quality Friday night entertainment.
All of these companies have become a major part of our lifestyles.
If you love and use these companies, we can guarantee that you will love Reozom.
As a seller using Reozom, an online real estate technology platform, you have the opportunity to save up to 6% on your total transaction.
The real estate industry is facing major transformation thanks to technology.
But don’t be alarmed, technology is making the industry easier, faster and stronger than ever.
Here are the Top 3 Technologies that are impacting the world of real estate for the better.
Reozom makes the (typically stressful) real estate process much easier for everyone involved, including real estate agents. Users can list properties, browse pics, chat with each other, schedule showings and send offers from the luxury of their laptop.
Oh, and all those legal disclosures to sign? That’s done on our platform, too.
Thanks to Reozom’s technology, the buying and selling of a home is more streamlined than ever before. Not to mention, Reozom eliminates expensive commission fees, which saves people thousands of dollars.
Real estate is second on the list of industries being transformed by virtual reality. We are guessing that you can imagine why. Pretty soon, people will buy a Google Cardboard, stick their phone in it and take a virtual tour of any home they’re interested in (even if it’s on the other side of the world).
Virtual reality will save time, money and gas. Who would have thought that real estate teaming up with technology would be so eco-friendly?
But drones are awesome and who wouldn’t want one? Taking beyond impressive images of your property is a great excuse to get your hands on the drone of your dreams. The better the property photos the faster the sale, right?
Plus, buying a drone wouldn’t even put a dent in the thousands you save from using Reozom. Just don’t crash it into your new neighbor’s house after you move…
Along with marketing property listings on all of the major sites like the MLS, Zillow, Trulia and Realtor.com, the online real estate transaction platform, Reozom, also posts each listing on Facebook.
When sellers share Reozom’s post onto their own Facebook page, the number of people the listing reaches grows exponentially.
Rather than giving you the facts about Facebook, today we are going to share a real life example of what happens when a Reozom user shares their listing on the most popular social network.
Just a week ago, a Reozom seller shared their listing from Reozom’s Facebook page on the day it was posted. Their family and friends then shared the post, as well.
According to Facebook analytics, by the end of the day, this post had 600 click-throughs (meaning 600 people visited the listing’s page directly from Facebook). According to Reozom’s analytics, this listing had a total of 699 visits that day.
Which means, YOU GOT IT, a majority of that listing’s traffic came from FACEBOOK on its first day of being posted. Not to mention, this property then had a showing the same weekend it was listed.
Make sure to include the hashtag #ReozomHome in your post for the opportunity to be selected as the Reozom Home of the Week. If chosen, your listing will be featured in a custom social media post that’s shared on ALL of Reozom’s social media channels!
Reozom is a great online tool for real estate agents. In fact, this past month we had over 187 agents register on our platform.
In less than a year’s time, we’ve had 1,028 agents sign up on Reozom. Our real estate transaction platform offers an online listing process that markets properties on the MLS, Zillow, Trulia and Realtor.com. Reozom keeps the buyer, seller and agents connected within the same platform throughout the entire real estate transaction.
Here’s why Reozom is a must-use tool for real estate agents:
Registering on Reozom only takes a few minutes. Once registered, agents can search for a Reozom listing and instantly schedule a showing appointment with the seller directly on the site. This means no more frustrating phone tag for anyone.
Other platforms can be tough to use and learn. Reozom is intuitive and simple to navigate. It’s as easy as using Facebook.
Real estate agents can send messages to sellers or even call them directly. Many Reozom sellers choose to receive instant notifications via email or text, so they can respond to inquiries quickly. Our platform accelerates communication.
Reozom offers streamlined solutions that are unmatched by any other real estate platform out there. Offers are made and negotiated online, making the process faster and less personal. Upon a deal being reached, a Purchase Agreement is automatically generated and ready to send to the mortgage or title rep.
If you’re a real estate agent, try out Reozom today. It’s free and you’ll be glad you made the connect!
Every home seller has two goals in mind when selling their property: sells it fast and get the best price possible.
As an online real estate transaction platform, Reozom’s technology helps a homeowner have the optimal home selling or buying experience. If you’ve listed with Reozom, you’re already on the fast track to a successful sale.
Here are three other strategies to implement in order to have the fastest and best real estate transaction possible:
- Take quality property photos.
The days of “Don’t judge a book by its cover” are over. Most buyers will judge your listing based on your photos. In fact, 87% of buyers find viewing online photos of a home useful* (which in real talk means they use the photos to decide whether or not to see the house in person).
Use either a DSLR camera or the most current model of your preferred smartphone/tablet. Turn on lamps and optimize natural daylight while taking pictures. Clear out the clutter and take photos that show as much of the room’s depth as possible.
- Track your listing’s analytics.
When listing with Reozom, you get access to real time analytics of your listing’s activity. Take a look at these reports and notice the trends and patterns. Is there a certain time of day that your home is being viewed online?
If so, be available to chat with buyers during those peak hours so you can respond to requests quicker and answer questions sooner.
- Share on social media.
From your Reozom dashboard, you are able to instantly click and share your listing on a variety of social media sites. After you’ve posted your listing on social media, ask your friends and family to share your post, too.
Make sure to use the hashtag #ReozomHome in your Facebook post for the opportunity to be featured in Reozom’s “Home of the Week” social media campaign (which markets your listing in front of hundreds of people).
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*Source: National Association of Realtors: 2016 Home Buyers and Sellers Generational Trends Report
Whether you’re asking Google or your parents about how to buy a house, don’t worry… you’re not the only Millennial out there who’s not sure what in the world to do.
In fact, many Millennials feel like they don’t understand the home buying process at all, which is why 71% of them hire a real estate agent.
But the thing is, buyer’s agents are really expensive. Working with one typically costs 3% of the entire transaction (that’s $6,000 for a $200,000 house).
As a home buyer you may think, “Well, the seller is the one paying the agent fees… so it doesn’t affect me.” But truth be told, many sellers factor the agent commission fees into the listing price…
And YOU’RE the one who will be paying the mortgage bill each month.
Using an innovative real estate transaction platform like Reozom will not only save you from paying for expensive fees (with interest over the course of 30 years), Reozom is also more enjoyable to use and work with.
So, without further ado, let’s walk through the simple steps of buying a home.
STEP 1: Figure out how much you can afford.
You don’t want to be house poor. So factor in any trips you’re taking, weddings you’re attending or other big purchases coming up, like getting a new car.
Lenders usually recommend looking for a house that costs 3-5 times your annual household income (if you plan on making a 20% down payment).
STEP 2: Get Pre-Approved.
Contact a mortgage banker to see how much you can get for your new house. You’ll provide your financial information and some documents (W-2 statements, paycheck stubs, bank account statements, etc.).
If everything checks out, you’ll receive a Proof of Funds or Pre-Approval letter. Keep this document handy because sellers may want to see it before a showing.
To accelerate this process, try out a new and innovative platform like Rocket Mortgage.
STEP 3: Get Your Search On!
Now that you know how much house you can buy, head on over to Reozom.com and get shopping. If you find a house you like, schedule the showing right on Reozom and you could be touring the house in-person as soon as the next day (without ever making a single phone call).
Step 4: Make an Offer
If you loved what you saw in person, it’s time to make an offer. You can make an official offer directly on Reozom. If the seller accepts your offer, a Purchase Agreement will automatically generate, which you will send over to your mortgage and title company.
At this point, the home goes into escrow, which is the period of time it takes to finish the remaining steps of the home buying process.
Step 5: Get a Home Inspection
Your offer can be contingent on a home inspection, so if the house winds up having a lot of hidden headaches, you can re-negotiate or withdraw your offer.
Find a local inspector and hire them to go check out the house. You and the seller will get a report of the findings, and at that point you can make the decision as to whether or not you want to request certain repairs before finalizing the deal.
Step 6: Select Your Loan
Work with your mortgage banker to select a loan program. They will have some options for you to pick from, so make sure to factor in what’s most important to you (for example, having the lowest monthly payment possible may be priority over a payment that is ensured to never increase).
Step 7: Get the Home Appraised
Your mortgage company will set up a home appraisal to estimate the value of the home you are about to buy. This step is necessary to show all parties involved that you are paying a fair price for the home.
Step 8: Complete the Paperwork
Your mortgage banker can connect you with a title representative. Your title rep will do all of the tricky research and paperwork for you to make sure the seller is the rightful owner of the house, so then YOU will be the rightful owner of the house once you buy it.
(Just so you know, your real estate agent doesn’t play a part in any of this paperwork.)
Step 9: Closing Time!
At the closing, you will sign all of the paperwork that will complete the purchase, including the loan documents. Once this paperwork is returned to the lender, a check will be delivered to the seller and the transaction is complete.
Now it’s time to pour some champagne because you are officially a HOMEOWNER!
See? Pretty simple.
And always remember, Reozom’s team is right here to answer your questions, just like Google or Mom.
The answer is, “No. Actually, Reozom does A LOT more than Zillow.”
Reozom is a real estate transaction platform.
From start to finish, Reozom users list, market, manage and sell their properties.
First, the seller lists their home on Reozom and completes all legal disclosures in under an hour. Next, the property is immediately marketed on all major sites like Zillow, Trulia, Realtor.com and the MLS (which Zillow does not do).
On Reozom, sellers can manage their listings by scheduling Open Houses, accepting Showing Requests and negotiating Offers. Reozom also automatically generates a Purchase Agreement to finalize the deal.
Zillow is an advertisement and lead platform for agents and nothing more.
Reozom is a transaction platform that markets and does a lot more.
Reozom provides real time analytics.
We hate to burst your bubble, but the data on Zillow is very outdated. Zestimates are months behind and can fluctuate based on advertising sales.
Reozom gives sellers a real time look into their listing’s activity. Users know exactly when their property is being viewed and how many people have looked at their home online. Reozom’s numbers are accurate and current by the second.
Reozom connects buyers & sellers directly.
From scheduling showings to live online messaging, Reozom is the only real estate platform out there that allows the buyers and sellers to communicate directly and effortlessly.
Zillow depends on real estate agents in order to make money through advertising. Therefore, Zillow will never cut out the middleman to bring sellers and buyers together like Reozom does.
Reozom is ad-free. For us, it’s all about YOU and your listing’s success.
Overall, Reozom is a real estate marketing site, transaction tool and management platform all wrapped into one.
Millennials make up the largest group of buyers in the current real estate market.
This generation was raised on technology. These buyers not only like to use a real estate technology platform like Reozom to search for property listings, they also have their eyes peeled for the “tech-ed out” homes on the market.
Here are three smart home technologies that will impress any Millennial who’s shopping for their new home.
A Smart Thermostat
Millennials are not only tech-savvy, they also love “going green.” Nest is a smart thermostat that can be controlled from a smartphone. It is programmed to learn a homeowner’s daily routine and adjusts the home’s temperature accordingly.
It has sensors that keep track of when a home is empty and will use less energy while no one is there. Plus, Nest can save a homeowner up to 20% in their heating and cooling bills.
A smart lighting system like the Philips Hue white and color ambiance starter kit not only allows you to turn lights on and off from your smartphone, but also saves on the electric bill.
Not to mention, it’s great for creating a relaxing ambience or setting a fun vibe while entertaining.
Millennials want as little as possible to keep track of, including keys. The Kevo Smart Lock is a keyless system that allows a user’s smartphone to unlock the door to your home. This product will also impress the 48% of homebuyers who are interested in smart technology that’s related to security and safety.
Smart locks make it easier for you to grant a buyer’s agent access to your home after they schedule a showing with you directly on Reozom.
Implementing one or all of these smart technologies in your home could help with getting the Millennials to line up for your listing.
The very first step among almost all home buyers is to look online to find their new home.
Plopping down on the couch with their laptop to search for real estate is easy and convenient for buyers. Using a tech platform like Reozom makes the experience even better for them.
Reozom caters to a buyer’s wants and needs in order for our homeowner’s listings to sell faster.
Where Buyers Search
Buyers will typically start their online search using Zillow, Trulia or Realtor.com, all of which Reozom listings are on. Reozom also posts listings on the local MLS, so if the buyers have an agent, it will be in front of them, as well.
What Buyers Like
For the third consecutive year, Millennials made up the dominant group of home buyers at 35%. Gen X came in at 26%. These generations LOVE technology and they LOVE pictures.
In fact, 90% of buyers found property photos to be the most important part of a listing’s web page. That’s why Reozom’s listing pages are designed with photos that are prominent and easy to click-through.
How Buyers Think
We live in an on demand world. When a buyer finds a listing online that they love, they want to see it in person ASAP. On Reozom, buyers can schedule a showing in seconds directly on the site. It’s instant gratification.
Buyers also might want to learn more about the listing right at that moment. They can do that by chatting live with a seller who’s online or by sending a message to the seller.
Overall, engaged buyers lead to satisfied sellers. That’s Reozom’s way of doing real estate.
(information source: 2016 Home Buyer and Seller Generational Trends report)
With the technology and resources available today, there is no reason a homeowner cannot successfully sell their own property.
In fact, a homeowner will actually gain many advantages throughout their real estate transaction when using Reozom, an online flat fee broker and real estate tech platform that empowers home sellers and buyers.
Reozom sellers can one-up traditional brokers by listing their house at a more competitive price, communicating quickly with buyers and responding to offers directly on our platform.
Because you are listing through Reozom for only $395, you are saving thousands of dollars on your home transaction. This gives you the flexibility to set your home at a more competitive price because you are not considering the expensive agent commission fees, up to 6% of the entire home price.
For example, a homeowner using a traditional broker will pay up to $18,000 on a $300,000 listing. Reozom sellers can competitively price their home at $290,000 and still walk away saving almost $8,000.
With a competitive price, your listing can get more attention and sell much faster, while you’re also saving thousands.
You are the best sales person for your own house. A real estate agent’s schedule is often tied up because they are juggling the needs of their other clients. Believe us, they are not hunkered down in their office doing paperwork for you.
When using a listing agent, odds are your potential buyer or their buyer’s agent will either be sent to voicemail or their email will go unanswered for hours simply because the listing agent is busy.
As a Reozom seller, your sole focus is your house and getting it sold. You set your own preferences for communication whether it be phone, text, email and/or Reozom’s live messenger. You can respond to buyers instantly and interact with them directly.
The higher your response rate is to buyers, the quicker your home will be SOLD.
If there’s one thing that sellers flying solo are worried about, it’s having the confidence to negotiate an offer. Well, Reozom has a solution for that.
On Reozom, buyers can send offers online directly to the seller. The seller then has the option to accept, counter or decline. Saying “No Thanks” to a low ball offer is now as impersonal as swiping left. Or sending a courageous counter offer can be done by simply clicking a yellow button.
You don’t need an agent, let technology do it for you.
Other Quick Tips for Success:
Share on Facebook!
Reozom posts all of our listings on Facebook. Share your listing’s post onto your Facebook in order to get it in front of all of your friends.
Also ask your close family and friends if they would re-share your listing’s post. This will get your listing in front of hundreds, potentially thousands of people in just two clicks.
Piggy Back on Other Open Houses
Do a little research on when Open Houses are happening in your neighborhood. The other real estate agents for those listings are going to market their Open House to their list of contacts.
Figure out the common date and jump onto your Reozom dashboard to schedule your Open House in seconds. Then on the day of, make sure your sign is out (maybe put up another one on the street corner) and watch all of the other listing’s traffic walk through your door.
Get Gimmicky with It
Remember, you are saving thousands of dollars on your real estate transaction. You have some room to have a little fun (that sellers with traditional brokers don’t get to have).
Here’s an idea. Go buy a 70 inch smart, ultra HD TV, mount it beautifully on your wall and during the showing, let it be known that the TV stays with the house.
(If you think about it, you’ll still have thousands more left to spend on whatever fun toy YOU want.)