Excellent Advice!

So, how much would enhanced listing end up costing the agent?

Why is it for me anyways that when I do searches on Realtor com I get multi listings for the same property? It makes wading through the site so tedious

pkguy, I know at least part of the answer to your question. What I've seen happen in a search under my zipcode is that properties show up under one listing agent; then the seller changes agents & a new listing turns up without the old one disappearing. In many cases, there's first been a FSBO on realtor.com which now makes 3 or more times one single property appears. You're right...it's tedious & distorts the numbers as to how many properties are available.

Tricia

Excellent thread, terriks!

Marvin- We can't really answer that question here since it varies a lot. Realtor.com charges differently in different areas and for the average number of listings an agent carries. In my case, my enhanced subscription is subsidized by my broker so I pay relatively little for it. Other agents have to pay for the year up front without help; up to a few thousand dollars at a time.

As far as I know, FSBO's have no way of getting on "REALTOR.com". I know when I put a listing on, it comes up twice because I use two different MLS systems to give my sellers more exposure. Since listings are fed directly thru the MLS system, there really isnt a way to weed those out. As far as the listings that have expired with one agent and have been relisted with another, there is no excuse for them not coming out of realtor.com with the initial agent. Since they are fed thru the MLS system, they should expire with that system too. This is a glitch with realtor.com that we have been hearing for years "will be corrected".

In my area, realtor.com costs can vary depending on what package you take with them. The least expensive is about $900 per year, the most expensive is about $5000 per year.

What about the ability to link to the Realtor's homepage? Is that considered enhanced? Couldn't a Realtor write in the listing comments "More great photos on mysite.com "?

It is expensive, as they charge more if you have more listings. It doesn't seem like a lot to the consumer, but when you add up all of the fees you pay yearly, it can be overwhelming.

That being said, I *still* think it's the best money spent. Realtor.com is how 98% of my customers search for homes. I'm doing my sellers a disservice if I don't make their listings stand out on that site.

Dee, that wouldnt be "enhanced" that would be premium. Lots more money. The realtor cannot write in the comments on realtor.com. Realtor.com pulls the info from the MLS so there is no identifying information except the listing office if they do not have the enhanced service.

"Realtor.com is how 98% of my customers search for homes."

Maybe your customers. What about all the people who just call up a realtor and say show me some houses?
Whenever I've used realtor.com the listing were sold and out of date. And I get stuck talking to some pushy listing agent for the sold house who wants me to get off the computer asap and go to their office or email me listings.

These numbers are interesting. I just had my agent who is the top seller for CB in Tampa tell me realtor.com cost her a flat $500 per year. CB requires she have the enhanced listings and does not reimburse her for it. Why would there be such a difference?

These numbers are interesting. I just had my agent who is the top seller for CB in Tampa tell me realtor.com cost her a flat $500 per year. CB requires she have the enhanced listings and does not reimburse her for it. Why would there be such a difference?

Could be that the broker already has a contract with Realtor.com which partially subsidizes the agents. I work for an agent that pays her own Realtor.com subscription, including "featured" listings. It costs her thousands a year, but one sale can make up for it - that's what she's banking on.

98% of my customers search for homes

Oh please don't let this be true. My realtor won't pay for realtor.com at all.
I don't think her company chips in.

quirkyquercus: Whenever I've used realtor.com the listing were sold and out of date.

Ditto. I find the local mls and use that for residential. I find the local mls through google. That said, I do believe many people rely on realtor.com especially when locating from out of area.

I think 98% is a very high statistic. The National Association of Realtor statistic states that, approximately 80% of people search the INTERNET before even contacting a realtor. I believe this means all sites, not just realtor.com. Just to name a few, homes.com, homeseekers.com, remax.com, yahoo real estate classified,houselocater.com. There are thousands!

I searched my neighborhood on Realtor.com just to see exactly what Terriks mentioned above. Of the 20 homes listed, 50% have enhanced listings with multiple photos, virtual tours or both. The other 50% have only one photo. I happen to be in the later half, unfortunately, and intend to address this with my agent about more aggressive marketing of my home. I'm not in a position that I want to sit and wait 9 months for a buyer nor do I want to drastically reduce the price and unload. It will be interesting to hear her feedback. It has been suggested by several (forums & friends) that I relist with a different agent that does do the enhanced listings.

Of course, I ultimately blame myself because I did not question this at the time of lising but she didn't bring it up either.

Of course, I ultimately blame myself because I did not question this at the time of listing but she didn't bring it up either.

That's why I started this thread, so that sellers would know what questions to ask to make sure that the agent they choose takes good listing pics and has the ability to do multiple pictures on Realtor.com.

I would love to see one post with tips for selling, and another for buying. People could add what they thought would help someone. The knowledge I've learned in the few months I've been here is more then I would have learned from a realtor.

As a recent buyer, we started looking on realtor.com in late January - that is the only place I searched. Since we had a long laundry list of what we 'might' consider vs what we had to have, it was so much easier for me to pre-screen listings (we were not looking for a suburban home - we already have that - we were looking for a 'retirement' home).

We only contacted a relator where there was a 'must see' listing. We drove by various listings every weekend for three months. The property we have a contract on I used a 'buyer's agent I met thru a seminar.

We close on the 31st and I will then become an official member of the two mortgage club. We'll list our present home next year.

CM

Beyond Realtor.com, one of the most useful things we found was the local "public" port of the MLS system. It was more up-to-date than Realtor.com, and (for us) a bit easier to use. I would suggest that people try to look and see if such a website is available in their area, as it can be very helpful. It can also give you and idea of what your realtor can do as well.

In western CT, realtor.com is kept up to date. When we sold our house 2 years ago, realtor.com posted the phrase "This property may have a deposit or been sold" on it. Two days later, our listing was gone. Also, at least 85% of the postings have multiple pictures - I believe the maximum is 6. Some also have commentary on the house.

We first saw our present house on realtor.com.

Our area also has the various realtors posting their listings on their own or company websites. On some of these sites, there are a dozen pictures of the house and property. There is no shortage of internet searching in our area.

Enjoy the journey.

eal51 in western CT

I use realtor.com all the time, but only for assessment of market in particular areas, etc. Not for house hunting in any kind of serious mode. In my experience realtor.com doesn't get updated nearly as frequently as our local MLS website (true both where we're selling, and where we're buying).

If I want a general idea/feel of real estate for a particular area of the country that I'm not necessarily familiar with, realtor.com is perfect. If I'm at the point where I'm watching the local market daily, then realtor.com is not the way to go. My experience anyway.

I did some more checking on my listing based on some of the info above. I did see my house on Remax.com and Yahoorealestate w/the enhanced listing. So I do feel much better about that. However, I still think realtor.com is important in my area. When we listed our last home 4 years ago, 2 of our 4 offers came from realtor.com viewers.

I think 98% is a very high statistic.

That's my personal experience. Almost every conversation I have with buyers/sellers starts with

"We were surfing Realtor.com at lunch today and......"

I try to steer them to our local MLS site that is much better for searching locally (IMO), but Realtor.com still seems to be the favorite.

We actually made our review and approval of all pictures and written description a condition of the listing contract after seeing so many horrible examples out on the web.

We didn't have a problem since our Realtor actually uses a professional photographer on the pictures but did catch a couple of minor errors on some of the sales collaterial.

"As far as I know, FSBO's have no way of getting on "REALTOR.com"

There is currently a house listed FSBO in my town that's on realtor.com. I drive by it every day...it has a FSBO sign in the front yard. We toured it and the sellers were the ones giving the tour. So it's definitely FSBO...and it's on realtor.com.

Our house is listed with a realtor, who has six pictures of our house posted on realtor.com.

We sold our house last fall in SoCal and moved to Oregon. Our Realtor in SoCal used realtor.com with multiple photos and a long description that I helped write. He told us from the beginning that he thought the internet was an important tool for selling or buying.

He also had a personal website with his listings and the brokers' website. It's a large brokerage with many Realtors.
-------
When we moved to Oregon and began looking I was working with a Realtor we'd known for a couple of years. I first used Realtor.com to come up with houses we wanted to see and then he directed me to rmls.com, which is the local MLS for parts of Oregon and Washington. It has the same houses that the Realtors can see but without the professional info (DOM, etc.).

I also used a local large broker's website which showed all the houses on the market, not just their listings, and often had more photos than either realtor.com or rmls.com. I don't know where they get the info and pictures. They also have a terrific mapping feature that zooms in better than google earth and really shows the surrounding area. That site is http://johnlscott.com .

We did go to our Realtor's office and look at some listings, but since I could find the same ones on my own at home it was easier for me to compile a list and then discuss them with him by phone. He could give me more info on them and then DH and I decided which ones to look at.

Here is a link that might be useful: Oregon MLS

Realtor dot com's limited search engine drives me crazy. I hardly ever use their website anymore prefering the area mls.
I've been trying to look at FSBO's but there are so many sites, many of them new or junk or advertising traps only its also gotten frustrating and tough. I hope the whole FSBO thing takes off someday. The 60 minute article on the Washington state business is promising.

"The 60 minute article on the Washington state business is promising."
If you think Redfin is promising, look at their blog site where they talk about other companies listings. How would you feel if they talk like that about the house you're trying to sell for all the world to see?

Here is a link that might be useful: Blog Site

"As far as I know, FSBO's have no way of getting on "REALTOR.com"
There is currently a house listed FSBO in my town that's on realtor.com. I drive by it every day...it has a FSBO sign in the front yard. We toured it and the sellers were the ones giving the tour. So it's definitely FSBO...and it's on realtor.com.

Terrig, I'd be willing to bet they are also listed with a realtor. (Exclusive Agency Listing). Since realtor.com is a paid membership, FSBO's cannot get on there on their own. With an exclusive agency listing, the owner has the option of trying to sell their house on their own at the same time as the realtor is trying. IF the owner sells without the realtor help, he pays no commission. If the realtor sells it or someone from MLS sells it, the commission still gets paid. Of course there is also the possibility that he was listed with someone and got ticked off, decided to take down their sign thinking thats all he had to do to get out of the listing.

Just to double check, I sent realtor.com an email to check this out. I'll let ya know.

"Just to double check, I sent realtor.com an email to check this out. I'll let ya know."
Linda, you're right, that's how they do it.
1.Exclusive Agency
2.MLS Input only
3.Must offer a co-op
We have those "FSBO" listings here. They are also in the MLS & Realtor.com.
Some charge, some don't and it can be attractive to sellers who have the energy and know what they are doing.
(see link below)

Here is a link that might be useful: Free MLS Listing

Berniek, thanks for clarifying. I didnt think a FSBO could just "list" with realtor.com by themselves. It also makes sense now about all the posts I read where people say agents black ball their FSBO listings. I couldnt figure out how agents would even know about a FSBO to black ball it in the first place. Now I can see why. Who wants to bring their buyer to a house with a FSBO sign on it to have the buyer go back without them and make a deal with the owner.

"Who wants to bring their buyer to a house with a FSBO sign on it to have the buyer go back without them and make a deal with the owner."
That's why 99.9% of my buyers sign a buyer agency agreement with me, they want me to get paid for the work I do.

We've never signed buyer's agency agreements with our Realtors (they've never asked) and we wouldn't have thought of going behind their backs. We wanted them to get paid for their work, signed agreement or not.

Handshakes still mean something to some people, but I guess it's a small percentage.

"Handshakes still mean something to some people, but I guess it's a small percentage."
I wish it was that simple, but handshakes don't hold up in court. Without a written buyer agency agreement, the agent is NOT working FOR the buyer, and that's the law.

I wish it was that simple, but handshakes don't hold up in court. Without a written buyer agency agreement, the agent is NOT working FOR the buyer, and that's the law.

Actually, that depends on your state. In Oregon, and I believe other states, an agent is considered a buyer's agent and owes the buyer a fiduciary duty when they take on that role, regardless of whether or not their is a signed buyer's agency agreement.

"The 60 minute article on the Washington state business is promising."
If you think Redfin is promising, look at their blog site where they talk about other companies listings. How would you feel if they talk like that about the house you're trying to sell for all the world to see?

I wondered what the agent's response to the 60 Minutes show would be? Now I know, bad mouth their blog??

Linda...As for the FSBO also listed with a realtor, the realtor must be "silent" as there is no realtor's sign in the yard...just the common red/white FSBO sign with a phone number. We have not seen the house listed on any of the area realtors' websites either. I'll be interested in knowing how they got on realtor.com. Thanks for checking.

"I wondered what the agent's response to the 60 Minutes show would be? Now I know, bad mouth their blog??"
Well, read on below.

Here is a link that might be useful: Redfin Fined over Blog

Terriks, I agree that states have different automatic fall back positions for representation. Ours used to be sub-agency, today it's Transaction broker.
However, since getting into this business in 1990, we have had to disclose in writing at the first "substantative" meeting with a client, the different agencies available to them and who we work for.
This is also a Oregon/Washington requirement and if a buyer wants to be represented, it will be so identified when making an offer and signed and aknowledged by the buyer.
Without written buyer agency agreement in Oregon, the buyer's agent has no duty to show properties, where there is no agreement of compensation for the agent, not a very good way to go for a buyer.
Here is some additional info.
Real Estate Agency Disclosure Pamphlet
Agents in Oregon and Washington are required by law to provide an Agency Disclosure Pamphlet to the consumer, disclose whom they represent and the terms of that representation, and have the consumer acknowledge this agency representation. Understanding the different agency roles will assist you in choosing how you want to work with an agent in your real estate transaction.
Oregon Real Estate Agency Disclosure Pamphlet
http://www.movingtoportland.net/documents/AgencyDisclosure_OAR%20863-015-215.pdf

Washington Law of Real Estate Agency
http://www.movingtoportland.net/documents/washingtonstate_agency.pdf
These pamphlets describe agency relationships and the duties and responsibilities of real estate licensees in Oregon. This pamphlet is informational only and neither the pamphlet nor its delivery to you may be construed to be evidence of intent to create an agency relationship.

Linda...As for the FSBO also listed with a realtor, the realtor must be "silent" as there is no realtor's sign in the yard...just the common red/white FSBO sign with a phone number. We have not seen the house listed on any of the area realtors' websites either. I'll be interested in knowing how they got on realtor.com. Thanks for checking.

Terrig, Berniek clarified it. Its an exclusive agency listing. Realtor.com is fed thru the MLS systems. The owners signed a contract with a realtor. Its the only way to get on realtor.com. With this type of listing, the owners can try to sell it themselves. If they do, they don't pay a commission, however their property is still available for realtors to show, if one of them shows, they owe the commission.

Beriek: In my area, we have buyers/sellers agency disclosure forms, AND buyers agency contracts. You can represent a buyer as a buyers agent, without a contract. The contract is just starting to be used in this area. I suspect once its as prevelant as it is in your area, FSBO's can be shown without risk to the agent.

Terrig, I finally got the response back from Realtor.com, here you go.

Terrig:
There is currently a house listed FSBO in my town that's on realtor.com. I drive by it every day...it has a FSBO sign in the front yard. We toured it and the sellers were the ones giving the tour. So it's definitely FSBO...and it's on realtor.com.

From: "REALTOR.com(R) Customer Care" []

Only listings submitted in the MLS would appear on Realtor.com(R). It can take up to 3 business days to upload the data that we receive.

Sincerely,

Jermaine XXXXX (last name removed by Linda117)
Customer Care Representative
http://REALTOR.com(R)

Do realtors ever sell FSBO? What would their status be and can they list their own houses on the MLS?

They have most likely paid a flat fee to have their home listed in the MLS, which in turn gets them their Realtor.com listing.

Great thread, Terriks. Boggles my mind that Sellers aren't more proactive in researching the agents they list with. I had my criteria down pat prior to my first appt. Dissatisfaction with the listing agent of the home we bought down here is what got us into the business, matter of fact. If she could be as successful as she was half@ssing her way through, there's no stopping us, lol.

On another note, as soon as one of DBF's listings goes pending in the MLS, Realtor.com pulls it so I'm not sure how out of date listings could be on there. Odd.

Nat

Shouldn't say "as soon as", I think it's in a 24hour period :-), unless the listing agent is purposely not placing the homes pending/sold in their MLS. Hmmmmmm.

This thread is definitely interesting reading. Experiences vary greatly.

Nat

Boggles my mind that Sellers aren't more proactive in researching the agents they list with.

What drives me crazy are the people who choose their agent because "my neighbor is just getting into the business and I want to help them out" or "my aunt just got her license".

Realtors can change the wording on realtor.com. Our house is for sale and the realtor.com wording was pretty generic and I asked after a month if she could do a better write up and I gave her what I wanted it to say and she did it. Much longer and more detailed. She said she was limited to how many words, thats all. We are in western Pa.

Realtors can change the wording on realtor.com.

But only if they pay a fee to have their listings upgraded.

I am listing my house FSBO - I signed on with a flat fee mls service and paid extra for an enhanced Realtor.com listing where I was able to provide additional text, title, scrolling message,pictures, etc...