Get The Best Georgia Mortgage For Your Home

We strongly suggest that you have a hard look at the mortgage company before you decide where you want to get your mortgage. For example in Georgia there are so many companies that have come and gone in the Georgia Mortgage Business but we offer the very best in Georgia home Loans and mortgages. Georgia Mortgages are now trickier than ever and yo need guidance whether it is a refi or a new home loan and Georgia Rate can offer that to you.

Should I Do For Sale By Owner

For Sale By Owner: Is it a Viable Solution for Selling My Home?

You may already have heard of the term FSBO, which actually stands for "For Sale By Owner". In real estate, this means that a piece of real estate property is being sold directly by the owner without seeking the help of a real estate broker. Real estate agents would naturally obtain commissions out of every real estate deal that they close. If you will be an FSBO seller, there will be a significant amount saved on commissions since it will be similar to having a direct sale.

To determine whether being an FSBO seller is a viable solution for selling your home, take a look at the following advantages. First, by being an FSBO seller, you can still make use of the database or system which is being used by real estate brokers and this is called the MLS or Multiple Listing Service. This same system is being accessed by real estate brokers who are looking for homes to purchase for their clients, so you can make sure that your target market will be able to view your home as being 'listed'.

The second and most practical advantage or being an FSBO seller is that you would not have to pay the commission of a real estate broker. Usually, real estate brokers in the United States charge 6% to 7% of the selling price of each real estate property that they managed to sell. Just imagine the amount of savings that you will have on commissions if you can do away with the services of a real estate broker. Despite these advantages, there is also a downside to selling your home yourself. If you are not nearly experienced with the real estate industry, you may have no idea at all about pricing your home and selling it out to potential buyers. Naturally, you would not want to overprice the real estate property and make it not sellable, but you would not want to downplay its value either. In order for you to determine the ideal price, you can consult a real estate broker, do your research of the real estate market in your area and take your hint from there. Now that you have an idea about the pros and cons of selling your home via FSBO, you can decide for yourself whether the pros far outweigh the cons.

What is Better Than A Discount Real estate Agent in California?

Several years ago a friend of mine living in California was complaining about how much they had to pay a real estate agent when they were tyring to sell a house in California. The house was about 1600 square feet and they were asking about $900,000 and while they may seem like a lot to get for a house for those that live outside of California but to my friends they only had about $75,000 equity in the house. So if they were to pay a traditional real estate fee of 6% then they would pay $54,000 to sell a house that they had just bought about 3 years earlier. I understand why there were distraught. That is all of their equity pretty much gone after they pay for a few odds and ends to fix it up and also moving expenses to the next house.

My friend mubles to me on the phone one time that it would be great to have a discount real estate agent. I told him that it was not that great - you may save 1% because the agents and brokers split the pot so to speak so the agent really isn't making that much and to go ahead and cut it another percentage point.

Of course I brought up the mls listing service and laid out the details. You get the same mls listing, you put up the lock box and then let the other agents show your house. When they finally bring you a buyer you give that agent 3%. This means that you save around 3 to 4% depending on what your inital contract was for.

Now 3% of 9,000,000 starts to add up - well it adds up to around $27,000 that they saved. They got their home listed and right away the traffic started and within about 2 months their were actually 3 contracts submitted. 1 was for full price on the home.

In my humble opinion the flat rate service is second to none for those that want to save a ton of money when they sell the home. Forget about discount real estate agents in California. List it in the mls for around $350 and then sit back and wait for a buyer (and that by the way that is most likely is exactly what your listing agent would have done)

Flat Fee Mls In Florida

Florida was one of the first to start having real estate trouble when the escalating prices of the beach properties started to rise uncontrollably. as this started to fall more people began to try to sell what was an investment for them. They did not want to lose money. This seemed to set off a selling frenzy and a falling price market in the entire state of Florida but especially the beach properties. Because the prices that were paid were so high for the properties the investors needed to sell at a high price to recoup the cost of real estate fees.

This is where the whole flat fee concept really started to take off and now it is very common in Floorida. Remember that Flat Fee Mls Listing Services are not the same as For Sale By Owner. The flat fee system utilizes the current power of the real estate database known as the mls or metro listing service and is run by the brokers around the nation or USA. The mls system was put together to give any real estate agent access to any other home that was for sale by a listing agent.

This was vital since it allowed all the agents to see every house for sale and actually search the database of home sellers to find the perfect house for their customer (home buyers). With a flat fee mls listing you don't have the pay the listing agent the 3 or 4% but instead keep that for yourself. And if a buyer finds you without using a real estate agent (whihc is very probable with all the websites that the mls controls) then you would save all 6 or 7%. On a $300,000 house that is $21,000

That is why so many people are using the metro listing service flat rate fee.

Flat Fee Mls Listings Georgia

When Terry Hayes first found out that the real estate agent was asking only 6% to list his house we was ecstatic and then he starting talking to his neighbor who was an ex real estate agent.

"Did you know that all the listing agent does, for the most part, is to list your home in the mls and sometimes the fmls depending on where in Georgia it is located?"

Terry shrugged because he didn't totally understand, so she said let me explain. "the mls is the database that every realtor in the USA uses to list your site for all the other agents that are trying to find houses for their buyers. THis is how 95% of all houses are sold. Very rarely does a listing agent sell the house. She just lists it in the mls and then other real agents, called buyers agents bring their clients by to have a look at your house. Eventually they buy and your listing agent pays the buyers agent a 3% fee for this. Here is the beautiful part. With a flat fee mls listing in georiga you don't have to pay your listing agent anymore and you still get into to the mls system. And the flat fee listing only costs around $350 versus a 4% commission on the sale of your house. It is better than for sale by owner programs in Atlanta or Georgia"

Terry did the math and he would save over $7000 by doing the flat fee system. He did it and sold his house in 71 days. This is a true story of a couple on our street.

And also remember that just about every major real estate site pulls the listings that you see online from the mls. This means that the likely hood of you selling the home with either the buy or seller agent is much higher and then you would save all 6 or 7%. That is huge.

What is A Flat Fee Mls Service

So why are 60 minutes, 20/20 and other TV programs recommending A flat fee mls service when you are going to buy sell your home. The answer is simple. It saves you money why still getting your home into the national realtor database.

So why is the MLS database so important? If you were to hire a traditional real estate agent, the very thing that they would do is to list your home in the MLS for your state. And yes every major state has an mls. Texas, Georgia, New Jersey, Massachussettes, Florida, Ohio, New York, California and more to name just a few - but all states have this system.

The reason why the traditional listing agents first list your house in the MLS is because every other agent can now find your house in this databse system. It is without a doubt the best way to get your house exsposed to poetential buyers but real estate agents make you pay them 3 to 5% of the commission and sometimes the full commission of 7%. So if you were to get your home listed in the MLS system without having to use an agent you would get to keep the entire commission. Or better yet you can still offer the buyers agent a 3% commission for them to bring their customers to your house. You would still save the 3 to 4% that you would have to pay the listing agent. That is thousands of dollars you will save using the mls system.