Exploring
the Web-sale option
By Dan Mac Alpine/ beverly@cnc.com
Thursday, August 3, 2006 - Updated: 11:27 AM EST
The pre-Web world offered home sellers two options: Sell
through a real estate agent and pay a commission or go the
do-it-yourself route with a for-sale sign stuck in the front
lawn and maybe an ad in the local paper.
The Web now offers another option.
Today homeowners can sell by sticking a virtual sign on
a Web page. Some Web-sale companies offer little support
and are mere Web portals. Others offer advice and even referrals
to an agent if the Web option doesn’t work.
The options essentially amount to how much support and service
the sellers want and how much they are willing to pay.
"Six years ago, the commission on a $200,000 house
didn’t matter too much," said Ed Williams, the
CEO and founder of the Beverly-based Zerobrokerfees.com.
"Now, with houses at $600,000, $700,000 or $800,000
it makes sense to save $30,000 on a commission."
But Katherine Pickering, senior vice president and manager
of the Coldwell Banker Beverly-based regional office sees
things a little differently.
"The best value a seller can achieve is to take our
council," said Pickering.
A real estate broker knows how to read the market, how to
price a home properly and negotiate the best price, Pickering
said.
For that expertise, sellers can expect to pay a commission
of between 5 and 7 percent.
For those willing to go it alone, Zerobrokerfees does offer
some guidance, advice and marketing help. The company’s
listing fee is $49 to $79, depending on the number of photos.
Add $199 for an optional virtual tour of the home. Overall,
Williams said sellers can expect to invest a total of about
$1,000 for a complete sell package.
The package includes:
Hiring a lawyer to do the purchase-and-sales agreement for
$200 to $300
Placing an ad in the local paper, $200
A home inspection, $250
Magazine ad, for $99 to $199.
A full-service brokerage will also offer space on its Web
page and print advertising support.
Overall, Williams’ 2-year-old company has seen nationwide
listings jump from 8,000 a year ago to 14,000 today.
"What we’re seeing is middle-aged people who,
three or four years ago were afraid of the Web, now see
that this isn’t so difficult," said Williams.
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