Fizbomap Blog
Idaho For Sale by Owner tips, news and updates
The Realtor Bubble?
Posted by Heinrich Wiebe in Fizbomap, For Sale by Owner, News on May 16th, 2007
Here’s an idea. We aren’t facing a housing bubble. What we have is a Realtor Bubble. “Pow!”
Here’s how it works. Motivated sellers drop their prices to be more competitive. This is done at the expense of real estate commissions. Seller and buyers elect to use real estate services such as Fizbomap.com and Redfin. Prices fall, but sellers are no worse off. They net the same at the closing table. The housing correction happens, but the only fall out is agent commission.
3 commentsNAR vs 60 Minutes
Posted by Matt Newbill in News, Consumer Rights on May 15th, 2007
Looks like the National Association of Realtors (NAR) is a little upset about the latest 60 Minutes segment about Redfin and discount brokerages. Here’s an email that I received yesterday:
Dear Fellow REALTOR®:
I am disappointed and dismayed at the biased story that 60 Minutes aired on Sunday evening. I want to let you know that we’ve been working to stay on top of this story.One of the most difficult challenges we face is educating the news media about today’s real estate industry. There’s no better example than this 60 Minutes show. For more than a year, NAR worked with the producers who put the segment together and offered several spokespersons to be interviewed for the show, including myself. Yet, NAR’s voice was strangely and noticeably absent from the segment though CBS gave time to two critics who disagree with our policies on the display of listings on the Internet.
At times, NAR and REALTORS® have often been the subject of less than accurate news coverage. Your association and its professional staff is making every effort to get the REALTOR® message out to the news media. The result is that only a fraction-less than five percent-of the vast news media we receive is negative.
We encourage all of you to contact CBS to voice your concerns — maybe have some of your satisified customers do the same.
Thank you for your support.
Pat V. Combs
President
Hmm. I didn’t think it was biased at all. Maybe they are upset because it wasn’t biased in favor of Realtors? If NAR spent time helping Realtors provide better service and less time trying to protect 6% commissions the industry would be looked upon much more favorably.
Any thoughts?
no comments yetFlat Fee on TV
Posted by Matt Newbill in News, Consumer Rights on May 14th, 2007
Last night 60 Minutes aired a piece on Redfin and discount real estate models. It is a big deal to get this type of exposure on national television and the program sheds new light on internet based flat fee brokerages (like Fizbomap.com) and discount brokerages alike. You’ll quickly see that traditional agents are scrambling to prove they’re worthy of charging 6% commissions.
Watch the video and let us know what your thoughts are.
3 commentsFizbomap introduces new monthly pricing format
Posted by Matt Newbill in News on May 1st, 2007
In an effort to simplify our pricing, we’ve announced a no-setup fee approach, with a monthly payment. What this means is that you pay a monthly fee based upon the options you want.
For example. Let’s say you just wanted MLS access. This would be accomplished for $199 per month (including yard sign). No setup fee and no monthly commitments. If you sell in the first month, then you would have only paid $199. This is a huge savings. If your home sells for $250,000 and you offer 3% to the selling side, you would save over $7,000 in real estate fees!
Our pricing page has been updated to reflect these new changes.
no comments yetShort Sales In Idaho - Ada and Canyon Counties
Posted by Heinrich Wiebe in Fizbomap, For Sale by Owner, News, Tips, Listing on April 26th, 2007
Short sales can be a good way to find a great deal. On the other hand, these sorts of opportunities can be tricky, so be sure you know what you’re getting into. Here’s a link to the freshest short sale listings on the market.
You will discover 16 properties that range in price from $124,900 to $729,000. I guess you could say there is something for everyone! What’s most interesting about these listings is two out of three homes are newer then five years.
If you’d like to learn more about making one of these homes your own, or if you are considering a short sale yourself, give me a ring. I’ll be glad to assist. (208)850-3000.
Give these homes a look and let us know what you think!
1 commentWhen Selling Your House Avoid These Costly Pitfalls
Posted by Matt Newbill in For Sale by Owner, Tips on April 25th, 2007
Assess your situation
There are four factors that go into selling your home.
- Condition - Is your house in “sell-ready” condition?
- Location - How is the market in your location?
- Price - How motivated are you to sell?
- Full Market Exposure
You will need to effectively assess these four items. This is not the time to be optimistic; this is the time to be honest with yourself. Luckily, Fizbomap provides number 4, so that is one less item to worry about.
If you’ve ever sold or tried to sell a house before, you probably know it can be a very complicated, time intensive and expensive process. Most often, buying or selling a home is generally the biggest financial transaction people make in their entire lives.
The selling process involves a lot of terms and procedures that most people aren’t familiar with (it’s not their full time jobs). Small oversights can come back years later to bite you and potentially cost you more money.
Several factors determine how successful you’ll be in selling your home. You need to carefully and honestly evaulate how your house (and personal situation) stacks up.
Here’s seven important questions to ask yourself. (taken from blogs.byownermls.com)
Seven important questions
- How much money do I want (or need) to get from the sale of my home?
- How’s the condition of my home compare to the neighbors?
- What’s the condition of my neighborhood?
- How much time do I have to sell?
- How much time am I willing to commit to selling my home?
- How much money will I have to spend on marketing in order to find a buyer?
- How accessible can I make my house to potential buyers?
How you answer these questions will determine how you’ll best be able to get your home sold.
1 commentThe Real Estate Bill of Rights
Posted by Matt Newbill in Consumer Rights on April 25th, 2007
Here’s a little something that Redfin has been putting together. It is a real estate consumer’s bill of rights and is something that is much needed in this industry.
Here they are in a shortened, condensed version:
- Choose the services you pay for.
- Know how your agent makes his/her money.
- Know when you are committed to an agent.
- Know what services your agent will provide.
- Have an agent that represents only your interests.
- Know the commission refund you can get before you buy a house.
- See all the houses for sale.
- Have an open discussion about a house for sale.
- See all the information available about a house for sale.
- Be sure your agent will show your house to everyone.
You can read the full post here.
Makes sense to me. What do you think?
Our Housing Bubble Is Getting Bigger - ADA, Canyon Counties - Nearly 7,500 Listings
Posted by Heinrich Wiebe in Fizbomap, For Sale by Owner, News, Tips on April 18th, 2007
It has been a month since I predicted that our housing inventory would grow to over 8,000 homes for sale in 2007. Since then, our market has picked up another 1,000 tiny little bubbles (homes). Our tub is almost full and we might be spilling over just a bit. But remember…, the peak listing period isn’t even here yet (That happens in May).
This is so exciting! Fizbomap.com is perfectly poised to help savvy sellers that are looking for a competitive advantage in the market place. Everyone knows it’s a numbers game. The more people that see a home for sale that is priced right, the better the chances are for closing the deal.
Don’t get lost in the market as a FSBO. GO FIZBOmap!
See ya soon.
1 comment$899 - What Did We Get?
Posted by Heinrich Wiebe in Fizbomap Experiences on April 6th, 2007
We expected to spend some money selling our home on our own. Since we wanted to get as much as possible for our marketing dollars, we shopped around.
In comparing Fizbomap.com to other real estate advertising programs, we found more bells and whistles for way-less money. Their $899 package is by far the best deal. I basically got everything offered and by the numbers, it saved around $400. Best of all, the Fizbo guys came to our house and took care of all the details– answered all our questions in the personal visit and by the time they left our house, we were on the MLS.
The whole process took about an hour or two. We’re offering 3% commission to other agents working with buyers. We put a lockbox on the door for convenient showings.
We’ve not even sold yet and we’re ready to Fizbomap again. Cool process! Recommend the service to anyone looking to sell their home without a listing agent.
Tom and Cherry-
First QTR 2007 - Fizbomap.com #1 Provider
Posted by Matt Newbill in Fizbomap, For Sale by Owner, News on April 5th, 2007
The first quarter of 2007 has ended, and an evaluation of how successful we’ve been is in order. The news is stellar, so I’d better share it with you.
In only 120 days, Fizbomap.com has emerged as the #1 advertising service for Boise, Meridian, Eagle, Nampa, Caldwell area sale by owners that want MLS access for a flat rate.
Of the listings in the MLS (property in Idaho - ADA and Canyon Counties), that receive MLS/Limited Service for a flat fee, Fizbomap has managed to capture a 30% market share in the first quarter 2007. That’s out of 27 competitors (don’t worry, I won’t bother naming names)!
Our listings sell too!
25% of ALL flat fee listing that have sold in this first quarter were listed by Fizbomap.com
As for listings that are pending and ready to close, Fizbomap holds the title there too, with 27%.
Fizbomap.com is the clear front runner for sellers that elect to do it on their own.
Another highlight for the quarter is the success that High Desert Construction has found. By the number, High Desert Construction has sold 55% of their listings in just 65 days. To quote Kurt Habenicht: “Thanks. Great Results!!! You are Genius.”
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