For Sale By Owner
 

Inspired by an earlier post, I am developing
a website for my town of for-sale-by-owner
homes.

I suspect real estate companies and probably
their associate businesses (mortgage companies)
will not let me put flyers up for my website!

Can anyone suggest the best way to market
this to a local audience?

Take a "serious look"....
 

at offering FSBO's a website to sell their property;

1) The local realtors will be against you
2) You have to "convince" (also known as "sell") each INDIVIDUAL home seller. One sale...get as much money as you can...then when they sell their home or if it doesn't sell...that's it. You must CONSTANTLY be "selling"....one property at a time.
WHY would someone wanting to sell their home themselves want to give YOU money?...just because you have a local FSBO website?...nope!
3) You have to advertise the site HEAVILY to get any traffic.

Instead of "fighting City Hall"...why don't you consider putting together a local "Homes For Sale MALL" where REALTORS can list their properties?

You sell the realtor ONCE on a Monthly Fee of $150/Mo for 10 properties...$250/Mo for 20 properties....$350/Mo for 40 properties.

Sell them ONCE and they keep paying forever...provided you do your due diligence and advertise the site.

PLUS....realtors are easier to find!

Get the "Realty Manager" program from Interactive Tools.com

Get a good Domain Name (YourTownHomes.com)

Put up some Sample listings.

Put together a Presentation about the BENEFITS realtors will have by having their listings on your "Mall". (MAIN benefit with Realty Manager is the realtors can UpLoad and Edit listings themselves (including photos) thru their browser)

So...if you can "sell" 40 realtors at $250/Mo you'll have $10,000/mo
coming in on a STEADY basis and all you have to do is keep advertising the site.

Sure beats "hunting" for FSBO's everyday.

Here's a "Realtor Mall" www.ezmls.com

They get $12/mo per realtor. Too little in my opinion BUT...some offices can have 20 agents and they bill the Broker (Owner)

There are many other realtor "Malls" out there.

Don Alm


Some of my Unique, money-making programs.

Re: For Sale By Owner
 

Hi Carlotta!

I know there is a lot to be said for website promoting in a local area. Matter of fact I am currently gathering information on an idea I am considering doing in my local market.

One thing I believe though is that you need to promote offline to drive traffic online to your site. There are a number of ways to do this either low cost or no cost.

We have a local company that is doing what I would do if I were in your shoes. They are using a magazine to list the homes in as well as online. The magazines are found in grocery stores and elsewhere free to anyone who wants one. There is some info there but the magazine directs them back to the website where more info is listed.

You can check it out at:

http://www.homesbyownergeorgia.com

You may want to click on contact us and either email or call (I would call) Pat or Lucy and see if they can give you some insight.

Hope this helps you.

Randy Sutton

> Inspired by an earlier post, I am developing
> a website for my town of for-sale-by-owner
> homes.

> I suspect real estate companies and probably
> their associate businesses (mortgage
> companies)
> will not let me put flyers up for my
> website!

> Can anyone suggest the best way to market
> this to a local audience?




What are you doing to "GROW" & "PROTECT" your biz?

Re: Take a "serious look"....
 

Hi Don!

That is a great idea and should work well in some markets.

If Carlotta's market is at all like mine though, it is already overly saturated with real estate agents bumping into each other everywhere. They have magazines, websites, newspapers, radio and even television tours of the homes that are listed with the real estate agents ... but what is being done to help the FSBO market? Nothing!!!

The FSBO has a sign in their yard and will perhaps run an ad in the local newspaper for a month maybe two before they quit running the ad because it is too expensive and you can't include enough to motivate buyers without it starting to ad up enough that you may as well pay the agents commission.

I say if you are in an area that can benefit from the website like you mentioned ... go for it. It is a great idea.

If ... on the other hand that market is already being catered to abundantly ... why have competition in the same ole' real estate market when you can own the FSBO market?

Find your niche or carve one out Carlotta. There is lot's of great ideas out there. I think you are embarking on one that there is all kinds of opportunity and room to grow in.

Hope this helps.

Randy Sutton

> at offering FSBO's a website to sell their
> property;

> 1) The local realtors will be against you
> 2) You have to "convince" (also
> known as "sell") each INDIVIDUAL
> home seller. One sale...get as much money as
> you can...then when they sell their home or
> if it doesn't sell...that's it. You must
> CONSTANTLY be "selling"....one
> property at a time.
> WHY would someone wanting to sell their home
> themselves want to give YOU money?...just
> because you have a local FSBO
> website?...nope!
> 3) You have to advertise the site HEAVILY to
> get any traffic.

> Instead of "fighting City
> Hall"...why don't you consider putting
> together a local "Homes For Sale
> MALL" where REALTORS can list their
> properties?

> You sell the realtor ONCE on a Monthly Fee
> of $150/Mo for 10 properties...$250/Mo for
> 20 properties....$350/Mo for 40 properties.

> Sell them ONCE and they keep paying
> forever...provided you do your due diligence
> and advertise the site.

> PLUS....realtors are easier to find!

> Get the "Realty Manager" program
> from Interactive Tools.com

> Get a good Domain Name (YourTownHomes.com)

> Put up some Sample listings.

> Put together a Presentation about the
> BENEFITS realtors will have by having their
> listings on your "Mall". (MAIN
> benefit with Realty Manager is the realtors
> can UpLoad and Edit listings themselves
> (including photos) thru their browser)

> So...if you can "sell" 40 realtors
> at $250/Mo you'll have $10,000/mo
> coming in on a STEADY basis and all you have
> to do is keep advertising the site.

> Sure beats "hunting" for FSBO's
> everyday.

> Here's a "Realtor Mall"
> www.ezmls.com They get $12/mo per realtor.
> Too little in my opinion BUT...some offices
> can have 20 agents and they bill the Broker
> (Owner)

> There are many other realtor
> "Malls" out there.

> Don Alm




What are you doing to "GROW" & "PROTECT" your biz?

It never ceases to amaze me...
 

Ever since I started "playing" with the Internet in 1995...I am befuddled WHY people offering a service on the internet ALWAYS price their service so LOW!

It tells me 2 things;
1) Either they feel that the low fee they charge is the most they can get....on the web
or
2) They don't VALUE their service very highly

These folks in Georgia are offering a LOT and charging $25 for homeowners to List their homes for sale PLUS...all the other goodies they toss in (Contract...booklets...etc) plus an ad in a 10,000 circulation magazine....is NOT worth anyone's TIME!

Unless I missed something....they charge 25 bux for a whole bunch of benefits....whereas...in my opinion they could EASILY ask for AND GET $200 or more. Another $100 if they include 2 "For Sale signs"

Don Alm

ONE thing I've learned...
 

about a "Market"....there is ALWAYS ROOM for ME!

My very first venture...offering burglar alarms to home and business owners. I was told by every one who knew me that..."There's ALREADY a burglar alarm company around every corner and behind every bush!"

I thought, "So What! There's ROOM for ME! And sure nuff...in 3 yrs I had 17 employees and the largest alarm co in the North Shore of Chgo.

"Non-experienced" people "build boogie men in their minds". They "Think" because it "seems like" the market is "saturated"...it probably is...and they "tip toe" into the market with low prices and sure nuff...in a few months or a year they're out of biz.

People like "me"...take a look at the market...decide what I want to charge to "make it worth MY while"...put together a "package" and go out and sell the heck out of it.

Example;
I just finished my 3rd town (Ashland, oregon)...creating a "Restaurant Menu Guide" placed in hotel lobbies.

I got 28 restaurants to pay me $790 to be in MY book.

When I went to the first hotel to get permission to place MY Menu Guide in their lobby...the Manager pulls out a book from behind the front desk and hands it to me.

It's a book of MENUS.

Did I say, "Well...by golly miss molly.... somebody has ALREADY done a "Menu Guide" in this here town...I guess I better not even tryto do another!"

Heck NO!

I put MY sample guide on the desk in front of him and said, "HERE'S a "Menu Guide"! Look what THIS has in it AND...notice ALL the full color photos AND...notice (this)....AND...notice (this)
...MINE is 10 TIMES better looking and it includes things the other doesn't!"

I then said, "Would you let me place MY Menu Guide in the lobby?"
To which he said, "Yes!"

I then asked him for a copy of the existing Guide and I proceeded to sell 80% of the restaurants in that book.

"Competition"..."Saturated Market"...I "THRIVE" on these!

If nobody was doing what I'm doing...I'd wonder whether there is a market for what I'm doing.

Carlotta....a "saturated" market means;
"People without intestinal fortitude will NOT try to enter! Only people with "IF" will go in and...more than likely...make it go!

And PLEEZE....if you put a FSBO site together...DON'T "give it away"....just because you feel "low price" will get you business. It probably will...in the beginning. Then it comes time to ask yourself...could I be making more money busing tables?"

Proudly CHARGE for your service! And give people REASONS WHY they should pay your fee!

Don Alm

> Hi Don!

> That is a great idea and should work well in
> some markets.

> If Carlotta's market is at all like mine
> though, it is already overly saturated with
> real estate agents bumping into each other
> everywhere. They have magazines, websites,
> newspapers, radio and even television tours
> of the homes that are listed with the real
> estate agents ... but what is being done to
> help the FSBO market? Nothing!!!

> The FSBO has a sign in their yard and will
> perhaps run an ad in the local newspaper for
> a month maybe two before they quit running
> the ad because it is too expensive and you
> can't include enough to motivate buyers
> without it starting to ad up enough that you
> may as well pay the agents commission.

> I say if you are in an area that can benefit
> from the website like you mentioned ... go
> for it. It is a great idea.

> If ... on the other hand that market is
> already being catered to abundantly ... why
> have competition in the same ole' real
> estate market when you can own the FSBO
> market?

> Find your niche or carve one out Carlotta.
> There is lot's of great ideas out there. I
> think you are embarking on one that there is
> all kinds of opportunity and room to grow
> in.

> Hope this helps.

> Randy Sutton

Oooopppsss.......
 

I stand CORRECTED.

I took another look at the Georgia FSBO site and instead of charging $25 per listing they ARE CHARGING a fairly good amount for their services.

Excuse me for not noticing the whole enchilada.

Don Alm

> Ever since I started "playing"
> with the Internet in 1995...I am befuddled
> WHY people offering a service on the
> internet ALWAYS price their service so LOW!

> It tells me 2 things;
> 1) Either they feel that the low fee they
> charge is the most they can get....on the
> web
> or
> 2) They don't VALUE their service very
> highly

> These folks in Georgia are offering a LOT
> and charging $25 for homeowners to List
> their homes for sale PLUS...all the other
> goodies they toss in
> (Contract...booklets...etc) plus an ad in a
> 10,000 circulation magazine....is NOT worth
> anyone's TIME!

> Unless I missed something....they charge 25
> bux for a whole bunch of
> benefits....whereas...in my opinion they
> could EASILY ask for AND GET $200 or more.
> Another $100 if they include 2 "For
> Sale signs"

> Don Alm

Re: For Sale By Owner
 

I would suggest adding more value than just a website.

About a month ago, there was a bit on TV about a Melbourne couple that had started up a For Sale By Owner company, offering a complete service to potential sellers.

They supply assistance, a check list of things to do (get 3 realtors to look at your property to price it, make sure you have a legal contract before advertsing etc.)
They supply a large professional coroplex For Sale sign, web site with pics etc.

The complete package goes for $995.
Don't underestimate the fact that the average person is clueless and does not know the best way to sell their property. An agent is generally the path to least resistance.

The story was news worthy enough to make it on Prime Time TV.

It is always better to offer a complete package.
It dramatically improves the value of your product, allowing you to charge more.

Most people that are thinking of selling look thru local papers to price similar properties etc, so this would be the ideal place to place an Ad.

Also, if you can add value that a real estate company can't easily do without getting in outside help, such as Virtual Tours, that's a bonus.

I just sold my property without an agent and created my own virtual tour. It generates interest to passerbys when you have the URL on your For Sale sign.

Depending where you live, it can be extremely difficult to sell Realtors the idea of joining your portal, if you go that way.

See this forum at Slashdot where they discuss selling a listing database to realtors.

http://ask.slashdot.org/article.pl?sid=03/08/06/2043214&mode=thread&tid=126&tid=156

To list realtors on a portal, in my opinion, will depend whether you live in a large city that has a competitive market. In Sydney you would not have a hope in hell of creating your own Real Estate portal that is viable.

The Real Estate agents are virtually all locked in with major portals like http://realestate.com.au
It is too late for that.

If you would like a few pointers in Virtual Tours as an extra bonus for a Sale By Owner website, feel free to drop me a line.
Check out my site too if you like:
http://insideouttours.com

Good luck.

Tom B.

Re: ONE thing I've learned...
 

Don ....

I was not taking away from what you said about the www.ezmls.com idea. I think it is a great idea as I mentioned. I also did not say Carlotta or I or anyone else does not have what it takes to sell.

I was just applauding her idea to do something with the FSBO market because even though that market has been there a while ... I have noticed an abundance of more FSBO signs popping up in this area and less "Real Estate" signs in yards. Matter of fact I was commenting on that the other day when I saw a copy of the "Homes By Owner Georgia" magazine.

You spoke of one thing you have learned ... and I am sure you have also learned that things change and we need to adapt to change.

I am also sure that it pays to do as you have said numerous times (and I agree with) to "keep your eyes and ears open to opportunity" because it is everywhere. I applaude Carlotta for having done just that. She saw a need and decided to fill it.

Ideas are a dime a dozen and we all know that. Now an idea acted upon ... that is worth a whole lot more.

That is one thing I like about you Don, you get an idea and you act on it. And then you freely share your ideas to others who hopefully decide to do something ... either with your idea or some other idea.

None of us corner the market on ideas or opinions ... the great thing is that there are so many to grab ahold of and do something with ... be it our own or someone elses.

Randy Sutton

out a "Market"....there is
> ALWAYS ROOM for ME!

> My very first venture...offering burglar
> alarms to home and business owners. I was
> told by every one who knew me
> that..."There's ALREADY a burglar alarm
> company around every corner and behind every
> bush!"

> I thought, "So What! There's ROOM for
> ME! And sure nuff...in 3 yrs I had 17
> employees and the largest alarm co in the
> North Shore of Chgo.

> "Non-experienced" people
> "build boogie men in their minds".
> They "Think" because it
> "seems like" the market is
> "saturated"...it probably is...and
> they "tip toe" into the market
> with low prices and sure nuff...in a few
> months or a year they're out of biz.

> People like "me"...take a look at
> the market...decide what I want to charge to
> "make it worth MY while"...put
> together a "package" and go out
> and sell the heck out of it.

> Example;
> I just finished my 3rd town (Ashland,
> oregon)...creating a "Restaurant Menu
> Guide" placed in hotel lobbies.

> I got 28 restaurants to pay me $790 to be in
> MY book.

> When I went to the first hotel to get
> permission to place MY Menu Guide in their
> lobby...the Manager pulls out a book from
> behind the front desk and hands it to me.

> It's a book of MENUS.

> Did I say, "Well...by golly miss
> molly.... somebody has ALREADY done a
> "Menu Guide" in this here town...I
> guess I better not even tryto do
> another!"

> Heck NO!

> I put MY sample guide on the desk in front
> of him and said, "HERE'S a "Menu
> Guide"! Look what THIS has in it
> AND...notice ALL the full color photos
> AND...notice (this)....AND...notice (this)
> ...MINE is 10 TIMES better looking and it
> includes things the other doesn't!"

> I then said, "Would you let me place MY
> Menu Guide in the lobby?"
> To which he said, "Yes!"

> I then asked him for a copy of the existing
> Guide and I proceeded to sell 80% of the
> restaurants in that book.

> "Competition"..."Saturated
> Market"...I "THRIVE" on
> these!

> If nobody was doing what I'm doing...I'd
> wonder whether there is a market for what
> I'm doing.

> Carlotta....a "saturated" market
> means;
> "People without intestinal fortitude
> will NOT try to enter! Only people with
> "IF" will go in and...more than
> likely...make it go!

> And PLEEZE....if you put a FSBO site
> together...DON'T "give it
> away"....just because you feel
> "low price" will get you business.
> It probably will...in the beginning. Then it
> comes time to ask yourself...could I be
> making more money busing tables?"

> Proudly CHARGE for your service! And give
> people REASONS WHY they should pay your fee!

> Don Alm




What are you doing to "GROW" & "PROTECT" your biz?

Wow Great Advice.
 

Thanks Don, Randy, Vondre and Tom.