John, I'm guessing that you are referring to flat fee MLS listing websites and not the vanity single property websites (ie- 123FirstStreet . com). I've helped a couple close friends sell their properties throught the MLS sites and have been generally impressed. What I look for is good contact management in the listings, you know what kind of contact information gets listed on the MLS, how easy it is for buyer to get in touch with them, as well as making sure that a number of pictures and/or VT's get on the MLS's site.
I was really referred more to the non MLS sites and packages. The MLS is cool and everything, but I am looking more at the completely non Realtor assoicated sites (IE.. ForSaleByOwner.com, Owner.com, etc.).
The reason I bring this up is I see all sorts of Flat Fee MLS sites and then the sites like FSBO.com and ByOwner.com where those of us can list our properties without using a Realtor, but what I had in mind was a REI FSBO kind of site. Still open to the public, but focusing on REI transactions in particuar (IE list your rentals for sale, your wholesale properties, etc.)
I just read the other day in realty times or realtor.com that FSBO listings are down. That's the trend they have been following for a few years. The #1 feature you need is targeted traffic, you want buyers who are looking to buy in the area/region that you are selling. This is where I think realtor.com misses the mark. They are TOO big. It's impossible to find anything without a zillion clicks.
Several Realtors that I know have cancelled their Realtor.com listings because for the price, they weren't getting anything out of it. I agree...it's so big that offerings tend to get lost in the electronic heap.
Seems to me like there is an audience for many of the FSBO sites, but I don't really think it is worth it. Market your properties through Craigslist and other FREE classified sites and you get a ton more bang for the buck. The only spending I think worthwhile is posting classified OPEN HOUSE ADS in the local paper.
just sold 3 houses FSBO in the past two months. Criagslist helps alot with rental side of the business but zero responses on these remodeled houses. Held two open houses for each property, made color flyers, picked good weekends and placed signs everywhere with flyers in the tube daily. You must have examples of contracts (choices) and lead disclosure, regular disclosure, plats etc. and help the buyer more than normal but everything worked out. Just ride the areas, FSBO's are everywhere in our state. Sometimes there are conversions to realtor signs after they get tired of showing the property but FSBO's are pretty successful I'd say. Build in a portion of the 3% commission into your price so that you can pay a realtor that has a client but like I've said before, most realtors won't get out of bed for 3% commission.
We live in a mid-sized market and the FSBO sites (including Craigslist) haven't helped us much. We have found that some of the services like MLS listing services or Help-u-Sell types of businesses aren't too bad. There is a new company www.keepequity.com that offers a 2.5% commission full service offering that you may want to check out though they are only in a few markets (I haven't checked them out myself) just see the signs on neighbors houses and they say under contract!
but 2.5% is much more expensive (is`s about $12k for a $500K home), than FSBO listings for $500.
IMHO, the problem with Realtor.com or ForSaleByOwner.com and the like is you are asked to purchase "space" without a quantification of relavent traffic (who cares if Realtor.com serves of XXXXXXX of visitors per day, week, etc., how much of that traffic is specific to your target market?).
These companies do provide a service, but it's not selling your property (they provide a platform in which you can list and catalog your property listing), that's your job.
If your property isn't located in a highly searched location, your money is better spent in more localized marketing efforts.
A free FSBO website with a high rating on Google is www.HomesByLender.com - no fee, put as many pictures as you want, your own description & then advertise your specific property on www.craigslist.com using the www.HomesByLender.com website address.
Hey I’m looking for local sites like craigslist.com and in utah KSL.com – classified section. Something simple, and local. Do you know of any sites like that in your area other than craigslist. Something you or someone you know uses on almost a daily basis.
Another good option (if you are near a mitary base) is Militarybyowner.com -- its used a lot by military folks. I posted a rental on it and it was rented within 3 days! plus, you can get the cheapest package (like $15.00) and just put "e-mail me for pictures" if you want.
This thread is from 5 years ago...we appreciate that you found it helpful, but bringing it back to life without adding anything substantial really doesn't help anyone...