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
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
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.
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.
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.)
Reozom is doing what no other real estate tech platform does.
We offer home buyers and sellers online solutions that help make the home buying and selling process easier, faster and more affordable.
For just $395, homeowners can list their home on Reozom. We will then market the residential property on the MLS, Zillow, Trulia and Realtor.com. Last year we were able to save Michigan homeowners $3 million and this coming year, we plan on helping a wide range of people save even more.
Using our new solutions, homeowners can view analytics on their listing’s activity, chat live with potential buyers and accept, counter or decline offers.
Here’s a quick overview of our newest features:
From your “Manage Listing” page you’ll find a few new additions.
- Real Time Visitors: You can see the number of people that are looking at your listing at this moment.
- Overall Visitors: You can view the overall number of visits your listing has gotten since it went live.
- Social Media Buttons: You can click and share your listing onto your social newsfeed instantly.
If you scroll down the “Manage Listing” page, you’ll have access to ALL of your listing’s analytics. Here you can sort through real time, daily, monthly and overall data about your listing’s activity.
Ability to Accept, Counter & Decline Offers
Buyers can now make an official offer on your listing directly on Reozom.com. They can fill out our online offer form, upload their Proof of Funds and send it your way.
You will receive an email notifying you of the offer. You can also see if you have any new Offers on your user Dashboard.
Upon clicking the Offers notification, you’ll go to a page that lists all of the offers that have been made on your property.
When you click on the offer, you will be taken to this page below where you can review the offer. Here you can accept, counter or decline the offer.
Upon an offer’s acceptance, you can add conditions. A purchase agreement will automatically generate upon the acceptance of an offer.
Communicate with Home Buyers & Sellers
When visiting a listing’s page, buyers will be able to see whether or not a seller is online or available to chat.
Buyers and Sellers are able to connect and communicate unlike they ever have been able to before.
Please look forward to more tutorials and helpful posts about our new platform.
“But… if I don’t have a real estate agent, who’s going to do all of the paperwork?”
Your real estate agent doesn’t really do that much paperwork… at all.
In fact when using Reozom, a real estate tech platform and online flat fee broker, sellers complete all of the required “paperwork” electronically and intuitively. They are able to do this because using Reozom is as easy as using Facebook.
You are paying your real estate agent thousands of dollars to do a task that you can do online while watching a 30-minute episode of a Netflix series.
It’s a total myth that real estate agents do a lot of paperwork. A real estate agent is responsible for completing listing documents and a purchase agreement (upon the acceptance of an offer). That’s it.
During Reozom’s streamlined listing process, you are guided step-by-step through each document as if you are filling out any other online application. Legal disclosures are also completed. Reozom covers it all.
Now you may be thinking, “But wait, I still don’t know how to fill out a listing document…”
Nobody knows your home better than you. With the use of Reozom’s technology, you can complete this “paperwork” all on your own without ever picking up a pen.
Still have doubts? Try answering these questions below:
How many cars fit in your garage?
How many rooms are in your house?
Does your dishwasher currently work?
Has there been evidence of water in your basement?
Does your roof leak?
Knew all the answers, didn’t you?
You can totally do this.
Even better, Reozom automatically generates a Purchase Agreement for you after you accept an offer directly through our platform. You don’t even have to think. It’s immediately ready for you to send off to your title rep.
Which brings us to the real paperwork aka the title work. Your title representative is in charge of handling all of your closing documents (you know, that large stack of paper that you sign before getting the keys). Your real estate agent has nothing to do with these documents.
Thousands of dollars will be saved… along with a lot trees, too.
As an online flat fee broker and a real estate transaction platform, Reozom leverages technology as much as possible, including social media.
Our Reozom team posts every single one of our listings on Facebook. This immediately gets our seller’s property in front of Reozom’s growing Facebook community, while also giving our sellers the opportunity to easily Share their listing onto their own page.
Why Share your listing on Facebook?
Sharing your listing on Facebook gets the word out fast that your home is up for sale. Your listing’s Facebook post is basically a modern day property sign.
The average American has 350 Facebook friends. Combined with Reozom’s following and your own friends, upon being shared, your listing instantly gets in front of an average of 1,000 people.
Not to mention, Millennials (Gen Y) make up the largest share of home buyers at 32%. And 91% of Millennials use Facebook.
Ask your family & friends to Share it, too!
Recently, a Reozom seller shared her listing’s Facebook post and five of her Facebook friends followed suit.
In just one day, her listing got 1,559 views. Even better, Reozom’s analytics showed that 40 people were actually viewing her property online at the same time!
If 3-5 of your family or friends shared your listing, it could potentially reach 3,500+ people in just one day. The more friends you ask to share your listing, the better!
To Share your listing’s Facebook post:
Click the Share button within Reozom’s post of your listing
Press “Share Post Now”
And you’re DONE. The listing is now posted on your newsfeed.
If you want to write something specific about your listing:
Click the Share button on Reozom’s post
Write your description
Click the “Post” button
Reozom’s team cannot encourage our sellers enough to take action and share your listing on Facebook. It will be a few seconds very well spent!!!
- Infinite Dial 2014 report by Edison Research and Triton Digital
- 2015 National Association of Realtors Home Buyer and Seller Generational Trends
- By the Numbers: 200+ Amazing Facebook Statistics
ExpandedRamblings.com, February 2016, Craig Smith
Daunting, drawn out and dense. If that’s your take on real estate, it’s time for you to meet Reozom.
Our online real estate tech platform streamlines the home buying and selling process, making real estate easy, fast and affordable. In 2015, we saved Michigan homeowners $3 million dollars in their real estate transactions. Simply put, Reozom is changing the way real estate works for good.
REOZOM IS EASY
Anyone who can fill out a Facebook profile can list a house through Reozom. All you have to do is gather the information about your house (like room dimensions), snap some property photos and register on Reozom. From there you will begin our quick listing process and complete all of the required legal disclosures while doing so.
From new buyers to new technology, a lot of good change is underway for the world of real estate in 2016. Throughout this coming new year Reozom will be rolling out new technologies built to empower both buyers and sellers. We are currently initiating our own evolution in order to continue toward our main mission: make all aspects of real estate easier, faster and more affordable for the people. Continue reading
Real estate agents / brokers / realtors use the same internet / technology available to all of us except they charge 3 – 6% commission for it.
Lets discuss some things that one should think about when deciding whether to use a realtor; what can a Realtor do that I can’t do myself? Continue reading
The short answer is absolutely not. Simply put, you’re paying that broker to gain access to your local MLS as a means to get the same exact advertisement as if your property was listed with a full cost traditional broker / realtor. The type of contract entered into with a flat fee broker is known as an Exclusive Agency Contract, otherwise known as a Limited Service Listing Agreement. An exclusive agency contract allows for the seller to sell their property on their own without having to pay the listing broker a commission and can be cancelled at any time without any type of monetary consequence. Continue reading
A Realtor is the reason between selling and not selling your house? FALSE. A Realtor doesn’t sell your house, your property sells itself. When is the last time someone said to themselves; I’m going to purchase a property because so and so has it listed? If that were the case buyers would be searching by listing agent instead of the property’s features, location and pricing.
Have you ever seen anybody try to market a property for the mere fact it’s listed with a Realtor? No of course not, because the fact that it’s listed with a Realtor brings no added value to the property, as is the case with high quality windows or a reputable builder having built the house. Completely the opposite; having a Realtor involved in the transaction does nothing more than artificially inflate the sales price, but contributes nothing of lasting value.
Realtors do most of the work, that’s why they get paid the most. FALSE. Realtors do the least amount of work, but stand to make the most. This statement is especially true for listing agents. Out of all the people involved in the transaction (seller, buyer, inspector, mortgage broker, title insurance provider, appraiser, attorney and agents) the listing agent does the least amount of work, yet receives the greatest piece of the pie. This statement might not have been true 10 or 15 years ago, but the Internet has made life much easier for the average agent. The Internet might also be their demise as well.