Internet Homebuying the New Trend in the Real Estate Industry

MARSHALL LOEB'S DAILY MONEY TIP
Save by selling your home online
By Marshall Loeb, MarketWatch
Last Update: 12:01 AM ET Jul 10, 2007

NEW YORK (MarketWatch) -- Despite the recent slump in the housing market, many Americans are still paying a walloping 6% commission to real estate brokers.
At first blush, 6% may not sound like much, but consider: According to the U.S. Census Bureau, the average price of a home is $313,000, which means the average seller has to pony up nearly $19,000 in broker fees. This is a hefty penalty for selling your own home, one that more and more Americans are unwilling to pay.
Many homeowners are now opting to market their property directly to the consumer using online services. There's good reason for going to the Web: One recent survey, conducted by the National Association of Realtors, found that 80% used the Internet when searching for a new home.
Selling your home online is simpler then you might think. Here are the three key steps you need to take:
1. Find out what your home is worth. If you're working without an agent, the first and most important step is to get an accurate home appraisal. To find a licensed home appraiser in your area, visit Appraisal Institute.org, an association of professional appraisers. There is also a group of free services on the Web, such as Zillow.com, that allow you to estimate the value of your home by comparing it with neighboring properties.
2. Market your property. The goal when marketing your home is to "drive as many buyers as possible to your ad," so make sure you choose a site with a lot of traffic, and augment your listing with high-quality color photos and a compelling description.
3. Transfer the title. Once your home is sold, you need to call in the professionals. East of the Mississippi, title transfers are generally handled by real estate attorneys, whereas in the West, the job typically falls to title companies. Regardless of who handles yours, you shouldn't pay more than about $500.
So, how much do you stand to gain by leaving out the realty broker? Selling your home online is likely to net you between $12,000 and $15,000. Marshall Loeb, former editor of Fortune, Money, and the Columbia Journalism Review, writes for MarketWatch.

Visit buyerbeacon.com/news to check out the latest in online homebuying and selling. BuyerBeacon.com plans to kickoff in July, 2008!!!

Having Trouble Buying or Selling A Home? BuyerBeacon.com is the Solution!

If you are a home seller you may know that the real estate market is tough right now. Mortgage rates are high, there are lots of foreclosures on the market, and hiring a realtor can be very expensive nowadays. With no end to the current housing slump in sight and thousands of homes on the market for buyers to choose from you might be thinking; Will I ever sell my home? Realizing the tough position home sellers are in right now a new website focused on residential real estate, buyerbeacon.com, is being developed to bridge the gap between home buyers and sellers. The current homebuying process is very time consuming and expensive. In a society where you are lucky to make it through a day without hearing a sales pitch, buyerbeacon.com aims to make homebuying a hassle-free process where a seller can receive the asking price for their home and a buyer can not only find their dream home, they can find it with ease, in the perfect location, and within their desired price range. Managing member of Buyer Beacon, LLC, Peter J Fabbri III, commented on the new website, "The concept of our website has not yet been seen in the internet real estate industry. We offer a free, no obligation way to market and find buyers for your home that is very interactive and user friendly." He went on to say, "In an online real estate marketplace where it can cost hundreds of dollars to sell your home online, its time to make the homebuying process easier and more affordable and that is why we are developing buyerbeacon.com!" BuyerBeacon.com is on target to launch as early as July 2008. Visit buyerbeacon.com/news for updates and future releases regarding this whole new approach to the homebuying process.