Choosing a Home Listing Package:
After 18 years as a real estate broker, with experience from Weichert Realtors, Century 21, National Redevelopment Commercial LLC and now ReMax of NJ, one thing I can tell you for sure is how to sell your home. There are numerous options available for a New Jersey Home Owner, but choosing which home listing package is best for your situation can be confusing. Should you cut the commission and go for an exclusive listing? Should you hire a large international brokerage firm for added exposure? Maybe you can sell your home yourself, after all the last realtor you interviewed did not seem to be too swift? Maybe a good real estate attorney can guide you through the transaction.
Selling your Home on the MLS:
Selling your home in Northern New Jersey on the MLS brings with it a 5-6% commission and also a multitude of advertising and marketing opportunities. This commission gets split between 2 brokers and 2 sales agents. Once your listing contract is signed your realtor enters the home into the MLS System. Your home becomes part of the Internet Data Exchange Program, better known as IDX. IDX is a form of Broker Cooperation, it allows all members of the MLS the right to advertise and market your home. In essence you are hiring the entire real estate community to sell your home.
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Selling your home in the current market is very different that selling your home in 1985. The IDX or internet data exchange allows real estate brokers to share housing inventory and advertise your home. In reality this levels the playing field and gives you as the New Jersey Home Seller the advantage of added exposure all for a 5-6% commission. The IDX is a data feed, where real estate brokerage firms are free to promote, market and advertise another broker’s housing inventory. It is common knowledge that 90% of home buyers begin their home search on the internet, but now you can reach home buyers searching on Trulia, Zillow, Realtor.com, Century 21, Coldwell Banker or ReMax of NJ, just to name a few portals. Listing your home on the MLS, incorporates all the real estate portals and brokerage firms into marketing your home, so you have all your bases covered.
To properly implement a MLS Listing all marketing should work together, timing is more important than ever. You ideally are striving for your home to sell within 5% of the listing price, in a 30 day period. Properly staging, pricing and promoting is key to a successful home sale. To summarize, a full MLS Listing Package is for someone looking for multiple bids, is comfortable opening up their home to visitors, and feels they need the added marketing and exposure for their home to sell. As a seller you want the buyer to feel” what do I have to do to buy this home” you want to avoid a buyer who is thinking” how low will this seller go after all they have been on the market for 90 days.”
Due to the speed of information on the internet a full mls package which has not generated a home contract in 60 days should be reviewed look for staging issues, pricing comparisons with neighborhood homes and financial barriers you can eliminate for potential home buyers.
The Exclusive Real Estate Listing Package:
An exclusive listing package is an agreement between yourself, your chosen realtor and anyone within their brokerage firm. In essence this is a dual agency agreement, where you are hiring your agentand their brokerage firm to represent both yourself as the seller and any potential buyer interested in your home. In this situation it is best to hire a large, local real estate firm with experienced agents to ensure they have a local following in which to market your home. When agreeing to terms, shorter is better give your realtor time to properly market your home. An exclusive listing package in Northern New Jersey runs on averages around 4% the final home sales price. Exclusive listings are beneficial for homes in desireable areas, in good condition, which are predicted to sell quickly. After 60 days if a local real estate firm can not produce a sales contract then the marketing strategy, list price and overall presentation of the house should be reviewed.
Real Estate Consulting
With the growing age of the internet, information is flowing at an incredible fast pace. For the adventurous New Jersey Home Seller, a For Sale By Owner could be a viable option. Getting a “Sell Your Home for Dummies” book and a good real estate attorney could possible navigate you through the New Jersey Home Selling Process. Gerri Leventhal and Find NJ House offer real estate consulting services for those New Jersey Home Sellers interested in conducting their own open house on Sunday Afternoon. Selling a home is a very emotional process and if going it alone is for you then let’s touch base and I can guide you through the internet advertising, home staging, and real estate sales contract and disclosures. Find NJ House has a very affordable consulting fee for those interested in avoiding the tradition home selling process and interested in taking charge of their home sale.