Posts Tagged ‘ Multiple Listing Service ’

Newspapers Don’t Sell Homes

I was in Panera Bread the other day for lunch and overheard a conversation from the neighboring table. One lady mentioned how she just listed her house for sale. Her friend eventually asked, “What made you go with that (real estate) company?” The lady said, “They do the most advertising in the newspaper.” Although not surprised, I did find this amusing.

Many people are still under the impression that newspaper and other forms of print advertising are effective or even necessary in the sale of a home. I can tell you with 100% certainty that print advertising is NOT necessary to sell a home.

A Good Example

One of my agents just sold this wonderful home at 5318 Avenida Del Mare on Siesta Key, Florida. We didn’t need to do any print advertising to get this home sold. This home sold for the following reasons:

  • We mobilized the Realtor community and made them aware of this home via the Multiple Listing Service (MLS).
  • We found the right asking price to get buyers interested.
  • The listing and selling Realtors worked diligently to get the transaction closed.
  • Our marketing plan was more thorough than what is listed above. However, at the end of the day the MLS, the right price and good Realtors are what got the job done.

Where Do Buyers Look For Homes?

Of course newspapers generate buyer calls and thus ultimately causes some properties to sell. However, it is probably not as much as you think.

The National Association of Realtors compiles data every year and issues a Profile of Home Buyers and Sellers. This report is recognized by most as the best compilation of data on today’s buyers and sellers because of the enormous amount of data available at NAR’s fingertips.

Continue reading this post


Posted by: Marc Rasmussen on September 26th, 2012 under Buying or Selling a Home


MLS Compensation; The Ugly Truth Today

House and Money

“Real estate compensation structures are wrought with problems, which could be effectively eliminated if the MLS-mandated offer of compensation were done away with.

Agent compensation is set by office policies that support a specific company’s fee philosophy and income. But the system doesn’t take into account how it affects consumers’ opinion of value received or how it can clash with other companies’ compensation policies.

These policies also contribute to uneducated agents blacklisting certain properties—either intentionally or unintentionally.

One major contributing factor to the compensation problem is that a buyer’s agent is paid according to the selling agent’s office policy. This totally disregards the buy-side agent’s office policy on compensation, the buyer’s contract with his agent and the seller’s best interests, which are to remove any barriers that may keep potential buyers from seeing their home.

One problematic result of the mandatory unilateral offer of compensation is the belief that the seller and his agent are the ones paying for the buyer agent’s fee. In reality, both the seller and buyer agents’ fees come from the negotiated sale price, and are deducted from the proceeds Continue reading this post


Posted by: Jeffrey Bastress on October 24th, 2007 under MLS


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