All Forum Posts by: Jonathan Minerick

Welcome, Aaron. We sponsor the SDCIA meetup and can get you in for free as our guest (saves you $20). Shoot me an email ahead of the next meetup, and if we don't already have someone as our guest, then we'll mark you down.

Have you considered just getting a transaction coordinator who has access to the standard Realtor forms in Florida? If you have a meeting of the minds with the buyer on the price, details, and it's a cash offer, this would likely be the fastest and most cost effective way to get things done.

I agree with @John W.. 

It's about making the most money possible. Why exclude a large part of the market (buyers with agents) when they may very well give you an offer that exceeds anything from a buyer w/o an agent? Most buyers are not comfortable dealing directly with a seller.

Keep in mind that by selling FSBO, there are only so many buyers that are comfortable working directly with a seller. According to NAR, 88% of buyers have an agent, so the other 12% of buyers are your target.

Also factor in that FSBO does not have the same marketing reach as an MLS listing - in that FSBO can post on Zillow and some other sites, but misses out on brokerage sites, realtor.com, etc.

As an example, if the FSBO sites account for 40% of all real estate traffic, and your target market is 12% of buyers, you have effectively reduced your potential audience to ~5% of all buyers (100 * .4 * .12).

A better way to proceed is to get a flat fee MLS listing, where you pay an upfront fee (e.g. $200) to an agent to place your home on the MLS. You can also offer a commission to the buyer agents via the MLS - this is smart because you may very well get a buyer who is willing to make an offer high enough that it covers the money paid to their agent. If that doesn't happen, just accept an offer from an unrepresented buyer - the most important thing is that by listing on the MLS you got the mass market exposure, so you know that you didn't leave money on the table

You can also get a transaction coordinator who will help you take care of all the paperwork.

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@John Acheson That is good news. You won't be able to get on the MLS without a broker, but use a flat fee service (they are licensed brokers) and they will get you posted on the MLS.

@John Acheson The issue with only listing on Zillow is that you are missing out on so much buyer traffic from sites like realtor.com, redfin, broker sites, etc - there may be buyers willing to give you more money who just don't know your home is for sale. The MLS syndicates to all of these major real estate websites.

You can also incentivize buyer agents by listing on the MLS. About 90% of buyers have an agent and most buyers wont purchase without an agent. So if, for example, Zillow gets 40% of real estate traffic and only 10% of that traffic is comfortable buying without an agent, you have limited yourself to 4% of all buyers (100 * .40 * .10).

In regards to the contract, often the escrow/title company or a transaction coordinator can assist. Note that they won't provide you advice on how to negotiate, but can usually explain the options on the contract.

Why Waste Money On Listing Agent Commissions?

$95 to list on your local homecoin.com!

• 100% online, listed on the https://homecoin.com/flat-fee-mls for more info
• One-time fee, $0 due at closing
• 12 month https://homecoin.com/flat-fee-mls for more info

List On Any Major MLS In California

homecoin.com can list your home on any of the following MLSs

• BAREIS
• California Regional MLS
• CRISNet MLS
• Desert Area MLS
• East Bay MLS
• Fresno MLS
• Golden Empire MLS ($199)
• iTech MLS
• MetroList MLS
• MLS Listings MLS
• Sandicor MLS
• San Francisco MLS
• theMLS/CLAW
• VCRDS

Additional Services Available

homecoin.com provides the following optional services:

• Electronic lockbox rental
• Photography
• Signage
• Free Open House Kit
• Free Valuation Report
• Free Comps
• Free Flyers (SoCal only)
• Agent Assistance

homecoin.com Is The Easiest Way To Make The Most Money!

homecoin.com | CalBRE #01888948 | Broker | REALTOR®

You can list on the MLS without an address - typically the address will be listed as "0 Closest Road Name".

In general, here's the big things you want to look for in a flat fee listing:

1. The listing MUST be on the local MLS.

There are hundreds of MLSs in the United States. Sellers want to be on the MLS that covers the area where their home is located, so they can offer a commission to LOCAL buyer agents.

2. Cost to list + changes to listing.

Can range from $100-$400 for the exact same listing on the MLS. Watch out for fine print that requires an additional fee at closing. Make sure you are able to make changes to the listing after it has been posted for a nominal fee.

3. Photos on MLS.

Make sure you can upload at least a dozen photos. Some services offer a great price, but it's only for 1 photo - which is not useful for most properties.

4. Length of Listing.

Get at least a six month listing and be sure that there is no charge for cancellation.

5. Fine print.

You should never be required to use any closing service (e.g. escrow) provided by the flat fee service agent.

Ultimately, we've found that the three most important things when listing a home are 1) price, 2) pro photos, and 3) offering a fair buyer agent commission on the MLS (typically 2.5%).

A "flat-fee" MLS listing is the way to go, as having it on the MLS will also get you on sites like realtor.com, broker sites, etc.. You don't want to miss out on top dollar due to poor marketing.

Offer a commission to buyer agents on the MLS, as 90% of buyers have an agent. Often buyer agents can bring you offers that more than make up for their commission.

Look at the offers you get from agents and those from buyers directly and select the one that nets you the most with the least headaches.

In general, here's the big things you want to look for in a flat fee listing:

1. The listing MUST be on the local MLS.

There are hundreds of MLSs in the United States. Sellers want to be on the MLS that covers the area where their home is located, so they can offer a commission to LOCAL buyer agents.

2. Cost to list + changes to listing.

Can range from $100-$400 for the exact same listing on the MLS. Watch out for fine print that requires an additional fee at closing. Make sure you are able to make changes to the listing after it has been posted for a nominal fee.

3. Photos on MLS.

Make sure you can upload at least a dozen photos. Some services offer a great price, but it's only for 1 photo - which is not useful for most properties.

4. Length of Listing.

Get at least a six month listing and be sure that there is no charge for cancellation.

5. Fine print.

You should never be required to use any closing service (e.g. escrow) provided by the flat fee service agent.

Ultimately, we've found that the three most important things when listing a home are 1) price, 2) pro photos, and 3) offering a fair buyer agent commission on the MLS (typically 2.5%).