5 Ways to Save on Real Estate When You Head Online
Going online for your real estate transactions is not only a modern way to approach real estate but the smarter way. Online is where most (if not all) of the real estate market is now and this has naturally opened up a lot of different avenues of ways for people buying or selling a home to save money. Most of the motivation for various companies springing up in the real estate market has been to do just that – bypass commissions or costs in any way possible while still giving buyers or sellers the same opportunities on the market as the next guy.
Below are 5 ways to save on real estate when you head online so you can take advantage of what has become available in the real estate industry today.
Non-MLS Listing Services
Many services are available that have nothing to do with the MLS, at no cost to you. These websites and services are readily available to you and offer a lot of value not only because you are exposed directly to qualified sellers or buyers in your area but also because they are immediate avenues to effective word-of-mouth marketing.
While these listings start online, they ultimately end up becoming a point of conversation between parties that a listing applies to. It starts online and goes offline, but it can save you tons of money in agent fees or marketing fees by simply listing your property under the correct location on a free listing service. Just make sure you are listing in the correct location in order to create the word of mouth effect you’re looking for – if your home is one of the homes for sale in Orlando, for instance, you won’t want to list in Miami or Tampa.back to menu ↑
The online MLS
While listing off the MLS is effective, it is not quite as effective as the MLS. This is because the MLS is notoriously exclusive and reflects only prime properties. If your property, therefore, is on the MLS, or you have access to the MLS, the value of both what you are listing and what you are finding in the listings goes up drastically.
You can list on the MLS for a flat-fee now that real estate has moved online. A lot of companies will list you officially on the MLS for very low fees. Beycome is a good example of one of these companies – you can be listed on the MLS in your area for only $79, flat.back to menu ↑
Bypassing an agent
Listing on the online MLS without an agent saves you a ton of cash. This is because normally an agent will charge you a fee to list you on the MLS. WIthout them, and with the flat-fee MLS listings that don’t precipitate a commission of any sort, you’re saving thousands of dollars by bypassing an agent and going straight online for your real estate transaction.back to menu ↑
Going FSBO or FRBO
Going “for sale by owner” or “for rent by owner” has never been easier through online platforms like those mentioned above. Because of the ability to reach interested buyers and legitimate sellers through technological platforms based online that are able to cut through a lot of the normal costs of real estate, for sale by owner or for rent by owner apartments and homes are made available for viewing and buying quickly and efficiently, and everyone involved in the transaction ends up saving money, too.back to menu ↑
Using social media
Going online or not, real estate requires some form of marketing in order to garner interest in a property. Social media is free and a great way to, again, create the word of mouth necessary for garnering interest and saving money on marketing expenses. A lot of times, going first to a post that is published to your closest social circle is the best place to start. From there, a lot of people will tag or forward your post to others in their circle, and so on – especially those they know would be interested.
The power of this cannot be overstated! Using social media to generate a word of mouth marketing campaign for real estate is not only cost effective but delivers amazing results. It’s the smartest way to market without the extensive cost. A lot of times, you don’t even need pictures for a post like this – just information. Easy enough!
Like many industries, the real estate market has gone “online” in many ways and through many avenues – as it should! Going online can save you hundreds of dollars in marketing, advertising, and listing your home, as well as ultimately on commission. Be smart about how you sell your home and get online as much as you can during your real estate transaction with these 5 easy tips for saving on real estate when you head online.