According to NAR's latest survey in 2015 only 8% of For Sale By Owner's are actually successful in selling their homes on their own. Will that change now that USRealty.com is offering "free" MLS listing in select states?
The Inman' news article gives all the details on how the founder of USRealty (who sold ForSaleByOwner.com) believes they can make this work by "upselling" additional services. According to the article the "free" MLS listing only provides one picture. As an experienced full service brokers we know that internet buyers want more and more pictures so they can peruse the home from the comfort of their homes in their pj's at midnight. My MLS allows up to 25 pictures and that does not even seem enough from some buyers that want to see pictures of empty basements, inside of closets and other interesting requests that I have had through out the years.
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Will this business model increase the share of the successful 8%? Only time will tell as the internet continues to change the way real estate transactions are being done!
I have a potential buyer that decided to use this type of service to sell their home. Despite it being listed on my MLS and currently the only home listed in this particular subdivision it still has not sold. I'm not sure if its lack of pictures (only 6) or its location or the fact that the listing agent is the FSBO site but its still has not sold. Would agents in the area not show it out of loyalty to full service brokerages? The owner is offering a buyer's side commission so its not for lack of incentive. It does make one pause and wonder why?
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