An exciting development for all ListedBy users and site visitors today, as well as for service providers who offer services to the real estate industry in the U.S.
We just launched the Service Providers section of the site, which allows ListedBy users to research and find services related to real estate from across the country. If anything, the Service Providers module roll out is another example of our commitment to making ListedBy.com the place for everything real estate.
Whether it’s painters, movers, insurance providers or any other service, and whether you know the area or if you are from out of town or out of state, this is a key peg in helping you to find and get information about the services that you need, at a local level, as you make either an investment decision or need a service for your own property.
As a service provider, the exposure is entirely free. Just drop by the Service Providers page and add your company to gain exposure. We’ve also added enhanced placement options, which gets your company to the top of the search results in the states of your choice.
Here is the full announcement released earlier today on the wire:
Public Real Estate Auctions Site ListedBy Launches Service Providers Directory
Self-Managed Search Database Gives ListedBy Users Access to Information on Local Real Estate Related Services, and for Service Providers, Free Exposure and Leads
NAPA, Calif. – January 28, 2012 – ListedBy (www.ListedBy.com), the first free online real estate marketplace and social network with live bidding public real estate auctions and ‘Best Offer’ functionality today announced the launch of its Service Providers module, a self-managed, self-populated directory designed to give ListedBy users convenient access to information on local real estate related services across the United States.
“As a platform that truly stands out among other real estate sites and real estate auction companies, part of our mission at ListedBy is to constantly elevate user experience and value,” said Stephan Piscano, CEO and Founder, ListedBy. “Whether it’s homeowners, buyers and sellers, or investors involved in REO auctions, government auctions and regular assets, identifying and connecting with local service providers is an on-going requirement. ListedBy is now positioned to deliver on this need like no other site online.”
Free to join, the ListedBy Service Providers tool is organically populated and currently covers all U.S. states and territories. International search is planned for release later this year.
Service providers can join the new directory at https://www.listedby.com/ServiceProviders/ServiceProviderMaster. Additional categories can be requested through the company’s online Forum.
Enhanced placement in the directory is available as an option in one of two packages offered at $50.00 per month per state, or for $248.00 dollars per state for a full year subscription.
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Online Real Estate Auctions – ListedBy KNOWLEDGE CENTRE – How Chicago’s REALTOR® Cassandra Barber Achieves Consistent Success
Online real estate auctions marketplace ListedBy recently caught up with Cassandra Barber, GRI, SFR to find out the main secret behind her success. Here is our interview:
LB: Thank you very much for your time. We know that many ListedBy. com members and others will benefit greatly from your experience. If you were to share your number one secret to success, what would that be?
R: There is not a secret to my success – just a lot of hard work.
LB: What is/are the main challenge(s) that you face in pushing through with this advice in your own business? How do you overcome them?
R: Staying focused and not allowing distractions to keep me from my goals. Real Estate is an industry that if you allow the “noise” of the next best practice to distract you, you will forever be re-inventing yourself.
When you visualize where you want to be in your business, answer the questions what is it going to take to accomplish that, and stay focused on those answers you will realize your goals.
LB: What is the main downside for not applying this principle?
R: The biggest downside is not reaching your full potential by not accomplishing the goals that you set for your business.
LB: How can listing or buying property using free online real estate auctions or ‘Best Offer’ technology on ListedBy or other platforms impact
R: I realized auctions provide another tool that REALTORS can offer their clients and of course every circumstance will be different. The market dictates that we must think outside the box and auctions provide an avenue for quick and productive results.
LB: Anything else you would like to share?
R: Auctions may not be for everyone or every home, but agents should consider auctions as a valuable option and tool. The National Assoc. of REALTORS convention this year featured a session on auctions and for me that speaks volume to the value that auctions will have in our market place now and in the future.
LB: Once again, thank you very much for your contribution.
About REA: RealEstateAuctions.com (REA) is a leader in U.S. real estate auction sales. Our team of auction specialists has closed more than 8,000 sales of all types all over the country with a huge list of client partners, including HUD, FDIC, Fannie Mae, Freddie Mac, pension funds and a myriad of other corporations, institutions, developers and private owners located
throughout the U.S.
One of our participants on the ListedBy.com LinkeIn Group today asked us whether NAR projections for real estate auctions reaching 1 out of every 5 properties sold by 2014-15 covers specific geographies or are regionalized. As well, whether the majority of the auctions would be online or onsite.
Here is our response, to help our readers here to have convenient access to it.
We suspect that the majority include online + on location, because that’s the traditional model used by auction organizations thus far. The numbers cover the entire US. New models like ListedBy.com are turning the traditional model upside down by doing three key things:
1- 100% free. No fees for buyers nor sellers. Means more participation and more money to go towards the property instead of paying 2-8% buyer premiums.
2- 100% transparency. Everyone gets to see who is bidding and how much. Gives everyone equal chance and optimizes property market value.
3- All 100% online. Simpler, quicker, cheaper and more efficient for everyone involved.
Here is a link to a recent article we published on ListedBy.com that goes into a bit more detail.
….that one out of every five real estate transactions will be through auction by 2014-15?
….that 58 billion dollars of real estate assets in the U.S. sold at auction in 2011?
Leaders and Laggers – How Industry Pioneers are Using Online Real Estate Auctions to Distance Themselves
When the Internet came about, the pioneers got onto email before everyone else. Eventually, the same group went online with their Web pages. From there, they were first to start their own websites and adopt other technologies way before the laggers got on board. If ever. Listing syndication came about. Thousands sat back, debated things or fought hard to maintain the status quo (many still do to this day). Meanwhile the winners began to distribute their listings widely on the Internet and reaped the benefits of exponential brand exposure and lead generation.
You get the point. Paperless transaction tools, telecommuting, social media and the virtual office brokerage faced the same skepticism from the majority or, shall we say, the followers, while the leaders took the bull by the horns and blazed through. This is how winners win. Believe or not, some agents still do not have their own website and many have to be educated on why they should look at their email more frequently!
On to the next big thing. Online real estate auction.
First let’s get one thing cleared. Auction does not mean having to price a property at a dollar and hoping it sells for half a million. There are a number of online real estate auction strategies that we’ll go over in future articles. But for the purpose of this piece, think of online auction as a process that allows you to market a listing starting at a minimum acceptable price, and marketing it so it is bid up to its optimal market value. If you have been in this profession long enough, you would have either used this pricing strategy or heard of others using it, but in the traditional fashion. Price a property attractively, draw in buyers, then create a bidding war. It works.
Fast forward to the future. New online real estate auction platforms allow you to replicate the excitement and benefits of this strategy but far more easily. It also helps you to reach buyers from around the country and the world. Without costing you a cent. Review, accept, reject and counter offers with a click of the mouse. Things don’t get any easier.
Another great benefit of tapping real estate online auctions is that auction as a selling method inherently narrows the pool to buyers who are finance-ready. To bid on a property in auction, buyers or their buyers’ agents typically must be ready to move forward, if theirs is the winning bid. This alone can significantly accelerate the sales process, and takes care of the financing subject headache in advance.
Try listing a property on ListedBy.com. The membership and traffic on the site continue to reach new proportions each month, as more professionals discover the platform. Unlike other real estate auction sites, ListedBy is completely free of charge and does not charge a buyer’s premium or a buyer’s fee. ‘The old’ auction model is being re-invented, with both buyers and sellers coming together to negotiate and close deals in a completely free, transparent and highly advanced environment.
While this may create a headache for the traditional real estate auction industry, for industry pioneers, and those who have come to expect hefty fees to buy or sell at auction, it’s a breath of a fresh air.
Listing interviews and presentations sometimes turn into a show of force with beautiful looking folders, comparables sheets, a glossy bio and a big pitch. All this is ultimately useful but Richard Hartian on the WinningAgent goes beyond to discuss the role of the agent as a consultant and how asking the right questions is key to positioning and differentiating yourself in the prospect’s mind.
How you plan on marketing the listing is a key component of the overall discussion, but at the right time. Once there, ensure you cover an aggressive online listing distribution / syndication program to reach more potential buyers. Discuss giving the seller access to online traffic reports but also, key today, that you have the ability to market the listing as an auction or a “Submit Offer‘ listing that allows potential buyers across the country and internationally to view and present tender offers right there online, for quicker negotiations and close. Successful ListedBy.com members know the impact the site has had on their listing presentations and sales revenue.
With one out of every five properies sold by 2014-15 projected by NAR to be through auction, and with 58 billion dollars recorded in auction sales for 2011 alone, the online real estate auction market is an emerging trend that can clearly differentiate you when meeting with new prospects. May sound complex, but it’s actually extremely easy once you look into it.
Reverting back to Hartian’s proposed questions and tips for the listing interview, these are critical. They demonstrate that you are technical about your approach, that you truly care and that you actually take notice of what the client is thinking and saying:
“It happens all the time: you’re contacted by a potential seller. Maybe the seller was referred to you, you met at an open house, or she’s just gotten fed up with the FSBO route. Whatever the reason, you’re having a conversation about the possibility of listing the home. You finish the home tour. What’s your next move? Like Clark Kent slipping into the phone booth, you need an instant transformation. No, we’re not suggesting a cape and blue tights, but you need to morph instantly from a Realtor to a consultant. Go into your interview mode, and win the real estate listing interview by asking these eight important questions:
1. May I ask you a few questions? This puts you in control of the conversation, but it also flatters your potential client. Everyone loves to tell their story, and you’re leaving that door wide open. Bring your questions with you in written form, and write down notes as you talk. This lets the clients know they are being heard.
2. What’s the approximate value of your home? No surprise—most people think their home is worth a lot more than it is. At this point, don’t get into a back-and-forth about asking price, and certainly don’t disagree with the client’s perception of value. Simply write down the number they give you. Before you get to the point of setting a sales price, you need to establish a level of trust with the client.
3. How much do you currently owe on the home? This, of course, is a critical question in the interview process. You need to know how much flexibility you have to work with. If the seller is underwater, for example, it’s a totally different scenario from someone who has five years left on a 30-year mortgage. Which leads you directly into the next question:
4. Why are you planning to sell your home now? This information goes directly to the client’s attitude and state of mind. Are they being transferred due to a job change? Are they downsizing for age or financial reasons? Is there a neighborhood problem they are trying to get away from? Their answer gives you important information about the degree of urgency the client is feeling, which could range anywhere from “I’ve got to be out of here in 30 days,” to “I just want to put it on the market to see what happens.”
5. On a scale of 1 – 10, with 10 being perfect, how would you rate the condition of your home? You’ve probably picked up some of the answers to this question during your walk-through, but you need to know the client’s perception and how willing they are to make repairs or cosmetic upgrades.
6. How does your home stack up in comparison to others in the neighborhood? Of course you can find this out simply by driving the neighborhood, but this question encourages the client to talk about neighborhood pros and cons, as well as providing information about other homes that may be on the market or about to be.
Right now you’re probably thinking you could get most of this information from public records, and that’s true. And you should look up that information before going to the real estate listing interview. However, the actual answers the client gives you are less important than the fact that you are creating a consulting relationship and setting yourself up as a subject matter expert that the client can trust.
7. What are you looking for when you choose a Realtor? Now the clients will likely tell you a whole lot about what kind of marketing plan and effort they will expect from you, what kind of communication they hope for (email once a week vs. daily phone calls!) and even good or bad experiences they have had with other Realtors.
8. What problems would you anticipate in the selling process? This final question gives you a great opportunity to continue in your consulting role as you are able to make recommendations for problem solving on the spot. It may also allow you to identify any areas of conflict between the sellers themselves (if they are a couple). He loves the old homestead and she wants out of the neighborhood ASAP, for example.
Now you’re probably wondering—when do you get a chance to talk about yourself, establish your credentials? The answer: you bring a one-page bio sheet with your listing and sales record, background, certifications, and other relevant information. Whether you sign a listing agreement immediately or set up a time to get back together, you’ll leave that behind as a lasting impression — you are not just the Realtor. You are a consultant who listens.”
Read this article on the WinninAgent Blog
Quite interesting but not surprising stats and insight from Pew Research Centre and TD Bank in the article below, from ARA. It would seem like the current economy has ushered a new lifestyle option, and people, ‘the Sandwich Generation,’ are seizing the underlying opportunity. The silver lining if you like. While traditional financing for such moves offer great advantages to those who qualify, non traditional lenders and seller financing (OWC) are also becoming popular. OWC financing exponentially increases the likelihood of a deal, and many home or land owners are resorting to this strategy to move property. For example, this OWC condo listing allows buyers to strike a deal with the seller, with a single click.
“More and more households have extended family living together under one roof, and the tight fit has some families in the market for a larger home.
From 2007 to 2009, there was a 10.5 percent increase in multi-generational homes that translates to 51 million Americans, or 16.7 percent of the population, who lived in homes with at least two generations of adults, according to a recent report from Pew Research Center. If your household is growing and you’re looking for a larger space to accommodate your needs and family size, the housing market is in your favor. Low prices and attractive interest rates have created an opportunity for anyone looking to make a larger housing purchase.
As multi-generational living becomes more prevalent, builders and re-modelers have found a niche market in creating homes designed to fit the lifestyle. For the “Sandwich Generation,” a generation of people who are caring for their aging parents while supporting their own children, there are advantages to having children and grandparents under one roof such as sharing of household responsibilities and finances and increased focus on family time together. With these advantages, however, there may be a need for a larger home to accommodate a growing family.
A recent TD Bank survey found that of respondents who were planning to sell their current home and buy up, one-third attributed it to a larger or growing family. To finance a bigger home purchase, you can look to a jumbo mortgage. Jumbo mortgages are home loans that are bigger than normal. Normal varies by location, but in most housing markets, it’s more than $417,000.
Overall, the residential mortgage landscape is experiencing gradual improvements, with housing prices stabilizing and even improving in some markets. If you’re looking for a larger space to accommodate your growing family, consider beginning your home buying process now. When looking into lenders, consider a portfolio lender, who can offer flexible terms and lending guidelines, to best fit your unique borrowing needs.”
Some analysts say the rebound has begun and home prices may rise by the end of 2012. This means now may be buyers’ last chance to take advantage of affordable properties and low interest rates. If you want to score a bargain before the housing market recovers, you’ll need to follow a few rules to invest with certainty.
Rule 1: Position yourself for success
Before starting your search, get preapproved for a mortgage. Work with an experienced real estate agent who can help guide you through the daunting sea of foreclosures and short sales.
Rule 2: Do your research
Work with your agent to ensure the contract requires any delinquent taxes, liens or assessments will be paid prior to you taking ownership of the property.
Rule 3: Always get a home inspection
An inspector will visually examine the condition of the home’s roof, attic and insulation, foundation, basement and structural components, as well as interior plumbing and electrical systems. Be sure to find an ASHI-Certified Inspector (ACI) to ensure your inspector is experienced, as many states have minimal licensing requirements.
Rule 4: Budget for repairs
After receiving your inspection report, you can estimate costs associated with necessary repairs, maintenance or energy-efficient improvements.
Rule 5: Assess the neighborhood
Location should be a top consideration when purchasing real estate.