Sarasota Florida Flat Fee MLS Listings FSBO - Discount Realtor & Broker

 I highly recommend all my FSBO, or For Sale By Owner, Sellers go over a thorough investigation of how the Flat Fee MLS (MLS = Multiple Listing Service) Program Works.. This Q&A Section, provided by one of our affiliates flatfeelisting.com, listed below is a great description of how the Flat Fee MLS Listing Process Works & may answer questions a FSBO may have as how Realtors will Preview and Sell Your Listing, Home, or Property.. Feel free to Contact Me, Justin Shirley, @ 941-448-4872 for additional Questions and More detailed descriptions of Your Flat Fee MLS Listing..

The MLS is the best and only way to sell a property. 90% of all properties are sold as a result of the MLS, or Multiple Listing Service.

The MLS is a tool for realtors to list and sell properties. The listing real estate broker for your state is going to list your property in the MLS for a flat fee. If you do not wish to pay a commission (as a result of a real estate agent bring you a qualified buyer), you cannot get listed in the MLS. The MLS rules require that a commission be listed up front for every property that an agent enters into the MLS.

If a real estate agent brings you a buyer, you must pay a commission at close of escrow. You cannot be listed in the MLS if you did not wish to pay a commission if your property sells thru a real estate agent. The commission must be specified up front on the paperwork that you will complete after making payment. If you sell your own property as a “for sale

What is the Multiple Listing Service?
The Multiple Listing Service (MLS) is the key to Home-Sales Success. The MLS lists the vast majority of real estate listings which are listed “for sale” by real estate brokers and their agents. All types of real estate property is listed in the real estate multiple listing service; houses, townhomes, condominiums, commercial property, lots, acreage and even rental properties. There are 1000s of regional Multiple Listing Services located thru out the nation. Real Estate Associations in all 50 US states and Canada run their own MLS Systems. Statistics show that homes listed on the MLS sell faster.

“The MLS” is the secret to success of real estate sales, directly responsible for about 4 of 5 sales nationwide. About 85% of home buyers use a REALTOR® to help them locate a property. When a possible buyer contacts a Real Estate Agent regarding a home purchase, the Agent will search the MLS for homes matching the buyers’ desires, wants and needs. Statistics show that homes listed on the MLS sell faster.

Is this the same Multiple Listing Service (MLS) to which all Realtors® belong?
Yes. All participating MLS REALTORS® belong to their regional association of REALTORS®. The Listing Agent that will be assigned to place your property in the proper MLS for your region will be paid from the flat fee that you pay to TheSarasotadeed.COM- There is no additional fee to pay the listing agent that is assigned to list your property into the real estate multiple listing service.

How Much Money does the Real Estate Listing Agent that lists my house into the MLS get paid?
The Listing real estate agent only gets paid a flat fee for listing your property into the MLS.

Why would the listing real estate agent want to list my home in the MLS if they’re not going to receive a commission when it sells?
Realtors in our network provide services for a flat fee for two main reasons – volume business and more exposure for their real estate firm.

Is there a “MLS” which may be used by owners selling themselves, without a REALTOR?
NO. There is no FSBO MLS System. The general public is not allowed to list their own property in the REALTORS® Multiple Listing Service. Only a State Licensed REALTOR® Member may access their regional MLS to list a property for sale, or find homes for buyers. This is the same MLS used by REALTORS® in your area, one you will be listed in, which is accessed by Agents in your area.

NOTE: Please be aware in order to get your property listed into your regional Multiple listing Service it has to be listed by a licensed Real Estate Listing Agent that is a member of the MLS. This agent is assigned to you by thesarasotadeed.com and gets paid by thesarasotadeed.com - There is no additional money you pay to the listing agent. A REALTOR® has to be involved in order for your property to be listed into the MLS and REALTOR.com®

Is the MLS the best way to sell my home?
Yes, the vast majority of homes are sold through the MLS due to the large network of REALTORS® working with home buyers. The National Association of REALTORS® (NAR) reports homes listed by REALTORS® result in a higher net price to Sellers compared to “FSBO” home sale transactions.

Will Realtors Show & Sell my home if it’s not listed on the MLS?
It is not likely. Of course, there are a very few exceptions. REALTORS® operate completely from MLS computer listings. The MLS Listing Agreement specifies the REALTORS® commission and without this agreement REALTORS® will bypass FSBO homes. Of course, you may sell your home without a REALTOR®, but once listed, REALTORS® do not regard you as a FSBO but simply another listing for them to sell. Real Estate Agents will generally avoid FSBO properties due to the fact that they are working with buyers and have no written agreement to be compensated. If the seller has not agreed in writing to pay a commission to a Buyer’s Agent, the buyer could cut the Agent right out of the deal and negotiate directly with the seller.

Will Realtors® Show and Sell my home even though I paid for a Flat Fee Listing?
 Yes. Your MLS Flat Fee Listing will look exactly the same as any other listing. There is no way to tell how much you paid to get on the MLS. Regardless of whom you listed with or what you paid, your listing will look no different from any other listing in form and style. The listing broker’s name appears on the MLS, not TheSarasotaDeed.COM name. Our flat fee listing method gets your property on the same MLS used by your area REALTORS®. Your listing will appear the same as all other mls property listings.

Is it True some Agents may not show my home if they know it is a flat fee listing?
Absolutely not! That is a misleading and somewhat fraudulent representation made by some Real Estate Agents in a clever attempt to dissuade you from doing a flat fee MLS listing. First of all, when the Agent sees your listing on the MLS computer, there is no way the Agent knows it’s a flat fee listing. The Listing Agent’s name and contact information shown on your Multiple Listing Service will be your Listing Agent, not TheSarasotaDeed.com. In addition, the listing commission is not disclosed on the MLS! Even if the Buyer’s Agent somehow knew you were not paying a high traditional listing commission, that would not effect the showings, since the Agent is not concerned about the commission you are paying the listing broker. After all, the Buyer’s Agent ONLY cares about the commission offered to him/her to sell your home, not how much you paid the Listing Agent!

Will Realtors® show and sell my home if I am not listed with their company?
Yes. The main purpose of MLS is for REALTORS® to sell each other’s listings.

How important is it the listing REALTORS® office be in my neighborhood for my home to sell?
It does not matter. It’s merely an often-used false marketing method and fabrication to get you thinking it makes a difference so you end-up listing with them. Comparatively few potential buyers reside in your neighborhood. Most buyers come from another part of town, different areas, another city, or out-of-state. Even if a prospective buyer happens to live nearby, why would location of the listing broker make any difference at all? Keep in mind, a buyer who comes via The MLS in all likelihood already has a REALTOR® who is their buyers’ Agent. A buyer rarely hires the Listing Agent. If the Buyers’ Agent needs to contact the Listing Agent they normally use the phone or fax to submit purchase contract offer . . . in-person contact is never really needed. The listing broker could be located in another city or even out-of-state, it really makes no difference.

Who Will Realtors® call for Showings?
You have several options, and should discuss the best alternatives with the agent who will take care of your listing. You can have agents call you directly to make appointments, if you wish. The most common way showings are done, is the listing broker indicates showing instructions on the multiple listing service computer. This can say “Call Owner direct to arrange for a showings” (giving your name and contact phone number) P.S. There are a few areas in the country (Ohio) where broker’s phone number is given for showings as the MLS does not permit Owners’ contact info. If so, the listing broker will refer the call directly to you, to schedule the showing appointment. REALTORS® customarily call Owner before showing the home.

How long should I expect to be on the market?
Your home should sell quickly if priced right, in a good location and shows well. The MLS & REALTOR.com® will draw maximum attention to your home.

How long will my property be listed on the MLS for the flat fee?
The MLS flat fee listing is good for 6-months. Most homes are sold within a couple of months of listing or sooner. Many homes listed have sold within a day to a week. Rarely is a renewal of the listing needed. The agent will offer renewal of the listing — check with agent as to the fee, which you pay him/her direct (some agents renew INCLUDED-this is listed on the website).

Can I cancel my Flat Fee Listing at anytime?
Yes, you can cancel your listing at any time. Just notify the listing agent you wish to cancel your listing.

Is there a benefit to listing with a traditional high-commission broker?
NO. Your listing will end up in the same MLS if you were to re-list your property with a more Traditional Real Estate Agent charging you higher commissions. Of course, there are no refunds once your property is listed in your regional Multiple Listing Service (except possibly under the terms of our “REALTOR® Referral” Money-back Guarantee.) You may also apply for the “Money Back Guarantee” by sending FlatFeeListing.com an email

Do you offer a money-back guarantee if not satisfied after my home is listed, if I cancel my listing to go with another REALTOR?
If you are not completely satisfied you can qualify for a 100% money-back guarantee under certain conditions. This is based on TheSarasotaDeed.COM referring your listing to a new real estate broker, and who is acceptable to both of us. In the event you want to cancel (for any reason), and wish to list with a more traditional broker (of course, prior to getting a sales contract), we agree to refund the money you paid us by rebating the money payable at close-of-escrow as long as all parties agree to a standard REALTOR® Referral Agreement.

What’s included with my listing?
The MLS, REALTOR.com &; and about 50 other real estate internet sites, plus many extras as listed on the website page for your state.

Commission Questions
What is the difference between a “Selling Agent” and a “Listing Agent”?

The term Agent means a Licensed REALTOR.® Some people use the word Agent others use the word REALTOR - it means the same as far as descriptions go to the public.
· Please note that TheSarasotaDeed.COM is not your Listing Broker/Agent.
· TheSarasotaDeed.COM provides a referral service to owners of real estate property. Once you buy the service from flatfeelisting.com, we refer your MLS flat fee listing to a Listing Real Estate Agent that is a member of your regional MLS. This Listing Agent is providing you with a tremendous service by listing your property in the MLS, REALTOR.com, etc. and saving you thousands of dollars in real estate commission for the flat fee you paid flatfeelisting.com - Once your property is listed in the MLS, TheSarasotaDeed.com pays the listing real estate agent.
· A Selling Agent is the Real Estate agency who actually sells the property. They are sometimes called Buyer’s Agents.
· The Listing Agent is the Real Estate agency who lists your home for sale in the MLS.
Do I have to pay a Commission if house sells because of the MLS?
Yes. Any REALTOR® bringing a ready, willing and able buyer with a satisfactory contract will be due a “selling” commission of your choice. This commission must be determined by Seller when completing the Listing Agreement. This Commission paid to the selling agent is shown on the MLS.

How much commission do I have to pay to the Buyer’s Agent?
The commission the Seller pays the Buyer’s Agent is totally up to the Seller. Real Estate commission fees are not FIXED, fees are negotiable by LAW. REALTORS® cannot demand the Seller pay a certain commission to sell their home on the MLS. REALTORS® that demand the seller pay 3% to buyer’s agent can and will have their license revoked.

If I find my own buyer, will I still have to pay a selling commission?
No. If you find a buyer for your home with no Agent being the procuring source, there is no commission to pay.

Lockbox, Sign & Photo Questions
Items listed on the state pages may vary at any time without notice. Not all agents offer exactly the same included items. We may have to change agents temporarily due to current agent out of town, or for any other reasons. If this happens, your included items may vary.

You get 1-photo included INCLUDED with your MLS and Realtor.com listing. However, some agents allow more photos in the MLS for an additional charge.

You get 1-photo included INCLUDED which appears on Realtor.com. This is the same photo that appears on the MLS. However, some agents allow more photos on Realtor.com for a small charge.

You may also get a sign or realtors lockbox from the listing real estate agent - Some agents offer a INCLUDED sign, other agents charge a fee for the sign. Agents that offer a lockbox charge for it, which you pay them directly for. The SELLER can purchase a mechanical lockbox from any hardware store (Ace, HomeDepot or Lowes). FlatFeeListing does not include a “for sale sign” or lockbox, but this can purchased seperately.

Do I need a lockbox while house is listed on MLS?
Owner can decide whether or not to use an optional key-lockbox, which is a metal container for your house key(s) and is normally hung on the front door knob or gate. The MLS Listing will advise Realtor’s if they can not reach you by phone, they may use the key lockbox for showings. It provides access to Agents when the owner is away, thus assuring full exposure to prospective buyers. Without a lockbox, Agents representing buyers will have to set appointments to meet you at the house to view the home. If you do not have a lockbox, you may miss out on some potential buyers who do not have time to wait. Lockboxes are completely removable and controllable by you. Your Listing Agent will indicate your showing instructions on the MLS and contact phone number to call you first for showings. Showings are most always done on an appointment only basis (assuming key lockbox is not used if unable to reach you). It is rare an Agent will knock on the door without first making appointment with the homeowner. If you want a REALTORS® electronic lockbox you can request one from the listing agent (not all flat fee listing agents have or use electronic lockboxes, due to the cost and delivery time required for installation and removal from door with special key only real estate agents have.) The listing agent will lease one to you for a fee.

I have a For Sale By Owner sign, should I use the Realtor’s sign?
You can replace your sign with the Realtor’s sign if you wish. If you prefer to display your listing broker’s sign, many do offer a sign INCLUDED or as an optional service for a fee. After you get listed in the MLS, ask your Real Estate Agent if you can use their for-sale-sign, rather than your “For sale by owner sign.”

Can I use my own exterior home photo for the MLS?
Yes, it is recommended that you send via email to the listing real estate agent the photo(s) in jpg format. However, it is highly recommended to let the MLS photographer* take a professional photo of your home. Once inputted into the MLS, the photographer is dispatched to take the photo. Photos usually uploaded to the MLS within a few business days. The MLS then transfers the photo to the public internet sites for your area. *subject to some MLS regional restrictions - some MLS have a photographer to take an exterior photo and others do not have a photographer to take a photo. If the MLS does not have a photographer to take 1 photo, the seller can submit a photo via email to the agent.

Can I have additional photos added to the MLS or get a Virtual Tour?
Yes. After you get listed on the MLS ask your Real Estate Agent for that option. Many of the referral Real Estate Agents usually offer extra photos for a small fee (some even do for INCLUDED) and virtual tours from $89 to $199 which is a reasonable additional fee. The cost is very minor compared to the benefit of saving thousands of dollars in real estate commission. However, additional photos and virtual tours are not necessary as the real estate multiple listing service in all likelihood will sell your home, with or without paying for extra cost services.

Do you offer INCLUDED forms and contracts?
Your listing agent will supply you with the forms you will need. If your home sells thru the MLS, the buyer’s agent will prepare the purchase contract.

Listing Questions
Why signup with TheSarasotaDeed.COM

We only work with licensed and experienced Real Estate Brokers
We have one of the largest Realtor Network in America
Your property will be listed quickly
We offer more Quality exposure than any other Competitors 
We give you more Value
We are open Weekends
There are no hidden fees or charges
We Can INCLUDE forms, plus reports, etc
No other Flat Fee MLS company offers as much exposure and coverage!
What steps are involved in getting my property listed in the MLS?

Place your flat fee listing order
The Flat Fee Listing Real Estate Agent that is a member of the regional MLS for your area is contacted and given your contact information
The Flat Fee Listing Agent will typically list your property within 24-48 hrs . . . after getting your completed forms back, such as the Listing Contract, MLS Data Sheet, etc. However some agents do not work weekends, so you will have to wait until Monday to be listed.
Your home is listed on the MLS, REALTOR com® & other websites as soon as you return paperwork to the Listing Agent

How do I determine the sales price for my home?
You can Click on link below to get this information INCLUDED. We have heard from many sellers in most states that this service works extremely well — Zillow.com

How does information about my house get on the MLS?
The Listing Agent will have you complete the MLS Data Sheet. This Data Sheet will require you to answer all questions listed, which will supply Buyers with the type of information they require to see if your home meets their buying criteria. The MLS Data Sheet fields cannot be customized. You will however be able to write a description highlighting your home’s special features. The information on the Data Sheet also goes to REALTOR.com®, plus all the public internet sites for your area.

Can I add more information to the MLS later?
Yes. You can add information to your listing, such as room dimensions or description by emailing this information to the listing agent..

Can I make changes to my MLS listing?
Yes you can make changes. Contact the listing agent by email with the changes.

Internet & Website Questions
What is the difference between public websites, such as REALTOR.com, and the MLS?
Public websites like REALTOR.com receive listings directly from the MLS itself. Unlike the MLS which is updated instantly, the public internet sites are typically updated every 1-2 business days. Because of this, REALTORS® only use the MLS system, which is a closed system linked to their offices.

Can I go to a website and see my MLS listing?
Yes, the MLS is on the internet and buyers can go and view all the listings. Plus in order to get listed on REALTOR.com® you have to first be listed in the MLS.

 I hope this clears up any questions, or concerns you may have about the Flat Fee MLS Listing process.. Please Contact Shirley International Realty Inc. about Selling Your Home!

1 Comment »

One of the biggest hurdles a Sarasota or Bradenton homeseller must leap over, is the avenue they must take to get their home sold.. It is common knowledge that a Realtor can be very expensive (@ 6-7%), but is there value in their service, AND what is that value worth? Well, as you all know, I am the biggest cheerleader for the Flat Fee MLS Listing Service.. I know this service gives the homeowner maximum exposure on their home, and also allows them to engage in a relationship with a Licensed Realtor that can advise them through the process, WHILE saving them money at the closing table.. However, many Flat Fee companies are not congruent with my policy of holding the sellers hand throughout the selling process.. They accept the upfront fee for listing the seller on the MLS, then the Realtor walks away and like a bull in a China shop, goes aggressively after the next Flat Fee listing. This is not how Shirley International Realty Inc. operates.. We stick around.. We are always on call and feel its our fiduciary duty to assist the seller in everything from, making price adjustments to give the MLS listing a new facia, to having open-ended conversations by phone on what the market is doing.. We are well-rounded real estate consultants that do not bail on our Flat Fee Sellers.. Below is a NAR (National Association of Realtors) statistical analysis that shows, a little Realtor assistance is a good thing.. Ya just have to get that assistance from the right place (Shirley International Realty Inc. is the PERFECT place)..

Did you know? In 2006 the average FSBO sold their home for $187,200 compared to $247,000 on an agent-assisted transaction.. (With our Flat Fee Listing Service we help coordinate pricing on your home and advertise it in the highest traffic real estate marketing venues, bringing more demand and garnering higher prices)

Most Difficult Tasks for FSBO Sellers:
Getting the right price . . . 11% (We are experts @ establishing market value for your home & will help you do this)
Understanding paperwork . . . 16% (We teach you the contracts/disclosures needed to sale your home, reducing the liability of a negligent transaction)
Preparing/fixing up home for sale . . . 18% (We will introduce you to the best Handymans’ & home inspectors in Sarasota/Bradenton)
Attracting potential buyers . . . 9% (Our Marketing for the Flat Fee of $199 is all the “Butter you need for the Bread” to attract multiple buyers)
Having enough time to devote to all aspects of the sale . . . 9% (Your life is busy.. Shirley International Realty Inc. can take this stress out of your day..)

 Top 5 Websites where REALTORS® place their listings:

 Realtor.com (82%)

 Local Realty Firm Website (76%)

 Local REALTOR® Association Website (50%)

 Franchiser’s Website (30%)

 Broker IDX/Broker Reciprocity Website (29%)

The above percentages represent 72% of the traffic generated to sell your home with a full service listing agent (Charging you 6-7%).. We will list your Home on all of these sites for the $199.. You need this exposure.. Its that simple..

There’s no other way to sell your home in any market, than the Flat Fee MLS Listing.. We are Southwest Florida’s #1 Provider of Flat Fee MLS Listings.. Our service is unparalleled, unbeatable, unmatched, the best, second to none, over-the-top, #1, distant from #2, uncomparable, the cookie not the crumb, & the finest while still getting refined.. We can help you.. Give me a call for anything.. 941-448-4872 (I even know the best babysitters if you need one.. :))

Justin

2 Comments »

 After running my search of new listings and closed transactions for the Sarasota market I see a big improvement in sales volume. I have been swamped with buyer traffic myself, and it seems that the market as a whole is experiencing the same trend. The only trend that will keep our property values from appreciating at this point is, the effect of buyers swarming the market and sellers seeing an opportunity to list quickly in hopes of a quick sale. In short, the more statistics that show “buy volume” going up, the more sellers pour into the market and see an opportunity to sale. I feel this will continue for some time until we can get this distressed inventory off the market (Foreclosures, short sales, bank owned REO/Loss Mitigation, etc.). Many sellers have pulled their homes off the market temporarily because of the lost cause due to buyer reluctancy; however, with months like March, sellers are coming back to the market. Here’s a look at the closed transactions in Sarasota County, plus Lakewood Ranch and University Park (Manatee County areas but readily shopped by Sarasota buyers).. Again, my numbers reflect MLS data only and closed transactions only.

Single Family Homes - 233

Condominium - 137

Multi-Family (Duplexes, Triplexes, etc) - 1

Lots & Acreage - 5

As you can see, this number is up quite a bit from Feb. and January. We had great weather and nice flow of seasonal vacationers that turned into buyers. Sarasota is easy to fall in love with once you sink your toes into the sand of Siesta Key and soak in that Florida sun. I attribute this spike to tourism as well the Federal Government cutting rates making mortgage interest less harsh on the weak dollar & our slow economy. However, let’s take a look at how many homes entered the market.. This number reflects new listings posted to MLS during the month of March.

Single-Family Homes - 766 (Not a typo..)

Condominium - 428

Multi-Family - 8

Lots/Acreage - 59

As you can see buying is up, but so is the number of sellers looking to bail out of their financial ties to their properties. Positively, we’re seeing more buyers floating around our open houses. I expect a strong April, as the market will slow down a bit as we enter summer. But, let’s not discount the fact that Europeans and the international market take strong interest in our Florida real estate during the summer months.

 Justin

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Immaculate Lakefront Home! Upgraded Designer Tile*Den w/French Doors*Open Floor Plan*Optional Office or 4th Bedroom*Electrical Upgrades*Windows Installed for Future Pool*Fresh Paint*New Dishwasher*Complete Appliance Package*High Ceilings*AM/FM Intercom Throughout*Screen Lanai Overlooking Lake and Protected Preserve*Walk-in Closets*Built-in Desk Unit*Pull-Down Stairs to Floored Attic Space in Garage*Across from Greenfield Plantation Golf Course*Surrounded by Million Dollar Home Developments*Great School District*Renters in Place for Positive Cash Flow Investment!

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This is a little “Tid-Bit” on how to Sell Your Home in a Down Market.. If you’re not getting interest in your home, there may be a few things going on.. However, the most important thing is to notice your price.. Real Estate is not as valueable as it was 2 years ago during our boom, (more like an explosion) so its very important to get real about the value of your home.. Most of the time, correcting your price will cure lack of activity. I feel the most intelligent strategy to pricing your home correclty is to pay an appraiser $200-300 to tell you the value of your home.. They are objective and unemotional. This could save you many future headaches and stress as to why no one wants to even see the inside of your listing.

This video will show you how to generate interest through the Auction process and let the bidding process drive the price to market value.. Everyone shopping for a home right is looking for a deal.. Show a deal to this real estate market, and stay by the phone.. Holding an auction can be a litte intimidating, but you don’t need an auctioneer with an incredibly fast voice to sell your home through this process.. Notice in the video how a simple classified ad created the craze of demand.. I also think posting classified ads on the internet (craigslist, ebay, etc) can help create interest.. You have a home someone wants to buy.. You just have to find creative ways to get it in front of them.. Let me know if you have any questions.. My internet marketing skills are how I sell my listings quickly.. I am willing to teach you..

Justin

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Shirley International Realty Inc. is in the process of taking our Flat Fee Listing capabilities statewide. We will be expanding our office locations into Miami, Daytona Beach, Jacksonville, Orlando, & Tallahassee. Our goal is provide the most exceptional flat fee listing package for the most competitive price in the Sunshine State! We feel this service gives sellers the most “bang-for-your-buck” advertising & our success rate of selling homes via the service is rapidly growing. In a buyers market, sellers have got to find a way to put their home in front of a scarcity of buyers and make it as appealing as possible. The leading indicator in a buyers psyche of “to buy? or not to buy?” is price. The Flat Fee service puts your home in front of the widest range of buyers @ the most competitive price. No more paying 6-7% to sell! Talk to me about your options.

Below is a list of areas where Shirley International Realty Inc. can CURRENTLY list your home, condo, land, or rental in the CORRECT MLS:

-Sarasota                                                  -Manatee/Bradenton
-Manatee/Bradenton                             -Venice
-Pinellas                                                    -Tampa
-Hillsboro                                                  -Osprey
-Englewood                                               -North Port
-Nokomis                                                  -Port Charlotte

Give our offices a call @ 941-448-4872 & let us know how we can help you sell your home!

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You don’t need to pay 6-7% to sell your home.. Use broker incentives to create a competitve advantage over other listings.. This guy does a super job of highlighting the benefits of the flat fee listing service.. We actually offer this service in multiple MLS’s at once, so you won’t find a local outfit that provides a more exceptional package for marketing your home for sale.

Buyers.. Since we are so in touch with the FSBO community, we have an in-house list of these properties that typically out-price other listings. Since our Flat Fee sellers are not having to pay us a listing commission, they discount their asking price, putting more equity in your pocket and making the whole deal a little sweeter. I always try and push my flat fee listings to buyer clientele because these are typically the best bargains in the community. These are sellers in distressed situations and that is what buyers are looking to purchase. Providing Flat Fee listings to sellers & showing discounted property to our buyers have made Shirley International Realty Inc. one of Southwest Florida’s leaders in selling homes through the first quarter of 2008.

2 Comments »

Tax time is here again! It seems like only last week my 2006 taxes were being filed, but here we are again in 2008, and the deadline for 2007 taxes are soon approaching. I am not a CPA and never give personal tax advice. I’m asked many questions about personal tax deductions in relation to owning real estate, but always suggest contacting your local tax attorney or CPA for details and clarification for congruency with IRS rules and regulations. But, today I want to highlight 3 fundamental tax deductions the federal government grants homeowners that could save you money.

1-Mortgage Interest- The interest paid on your mortgage is tax deductible. If you have a mortgage for $400,000 and pay 7% annual interest on that money, $28,000 is a huge tax deduction! Take advantage of this one Sarasota! This interest can be deducted on a first or second home loan. There are a few limitations to this I believe.. One being, the total loan amounts on all homes being more than the fair market value of your home, or home equity loans totaling more than $100,000, but check with your CPA on those details. Also, filing married or single has an effect on these deductions as well.

2- Discount Points- If you refinanced your mortgage, you may be able to write off the points you paid to reduce your interest rate on the new loan. These points must be deducted proportionately over the life of your loan. So if your new loan has a 30-year term, you’ll deduct 1/30th of your points each year. If you’ve refinanced before, and you have points from the previous refinance that haven’t yet been deducted, you can write off the rest of those points in the year you refinance.

The points you paid for, to reduce your interest rate on a home purchase loan, are also tax-deductible for that year. Whether you or the seller paid for the points for you, you may be able to deduct them.

3- Capital Gains on the Sale of Your Home- You Sell Your Home! Nice… As long as this home was your primary residence for 2 of the past 5 years, unmarried sellers are immune to the first $250,000 of profit on their home, and married couples filing jointly returns are immune to $500,000 of the profit of sale.

Noted here are 3 important tax favors the federal government rewards you for owning real estate, so take advantage of these. There are many other tax benefits to owning real estate, but contact your local CPA for the details. I have a few great local CPA’s I’d be more than happy to refer you, if need be.

Hope your weekend went well! Let me know what I can do to help with your Florida Real Estate experience..

Justin
 

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Shirley International Realty Inc. is in the process of taking their Flat Fee listing services statewide. However, we are a full-service real estate company, taking full service listing opportunities, representing buyers in the purchase of Florida Real Estate, & outsourcing real estate council to our preferred clients. Part of our new ancillary marketing services provided to sellers struggling in this competitive market is our Flat Fee Rental MLS listing program.

I’ve found that many sellers are in the mindset of, “if our home doesn’t sell, I wouldn’t mind renting it out”. Many buyers are of the same mindset that if the market is at a standstill & prices are still depreciating, this may be a good time to sit on the fence & rent. A market over-saturated with renters isn’t necessarily a bad thing for a short period of time. As the demand shifts for consumers to rent, typically rental supply will go down and prices will likely go back up. This trend will continue until rental prices rise to a point where it makes more sense to buy than rent, and then the cycle shifts to, a “purchase demand-driven market”. This is when appreciation follows and inventory shrinks.

How can Shirley International Realty Inc. help get your real estate rented? We provide strategic marketing tactics to attract tenants looking to make a transition from one rental to another. Among the many venues we stage your rental on, the MLS is the most powerful showcase. The MLS is a brilliant place to market your home for rent because it is searched by all local property managers, real estate agents specializing in rentals, and people around the world that are looking for a home to rent in Sarasota/Bradenton. Our rental listing service will offer the same high-quality standards that we hold ourselves to in listing homes for sale. Click on this link to read all about the details our service entails. The cost for our “rental” service is less than the “for sale” service, so disregard price here. But the quality of excellent service does apply.

Justin

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I’ve always been curious to know exactly what property tax values are in Southwest Florida counties. After reading another dismal real estate article in the Manatee Herald Tribune, I now have a better idea what those figures are. Property taxes in Manatee County are most commonly taxed at a rate of 1.7% of the homes purchase price. These taxes are reassessed on an annual basis to determine new tax bill figures, minus any deductions you may be afforded for homestead exemptions, disabilities, etc. (Categorically there are a number of options residents may qualify for to receive assistance in the cost of their property taxes). Property tax rates can be higher in certain areas than other. Bradenton Beach, Anna Maria Island, & Holmes Beach would be jurisdictions of higher property tax brackets, taxing at rates as high as 2% of the purchase of the property. Now, let’s analyze how this information and these figures will tie your tax dollars into our local government. Our local government provides many excellent services with your tax dollars. They provide upgraded schools, quality roads, public libraries, parks & recreations, and many other amenities to Bradenton’s residents. The local government entities are as much a business as a real estate company or powerhouse retailer. They have balance sheets, and cash flows that need to be organized, employees that need to be paid, retirement plans that need to nurtured, & all this revenue that fuels these costs come from your tax dollars. In a slowing market, do these government agencies suffer like the rest of the economy? Absolutely. With homes depreciating in value, new tax bills are being slashed and these government agencies are not seeing the bottom line, as they have years in the past. Read the rest of this entry »