- December 7, 2022
- Reading time about 6 minutes
Having a House is one of the most basic and essential needs of humans. Today, online real estate platforms and mobile apps have been a huge sigh of relief for renters, agents, buyers, and sellers across the world. An online real estate platform is a commercial real estate marketplace app that empowers users with information about the real estate segment.
Real estate platforms easily connect customers with the best local professionals who can help them with anything related to homes. If you are looking to sell your house for sale by the owner (FSBO) then you will have to list with the U.S. largest real estate database on Zillow, FSBO.com, ForSaleByOwner.com as these are the topmost platforms for any FSBO sellers, and listings.
What Is FSBO Listing?
“For sale by owner” (FSBO) listing indicates that a property is being listed for sale directly by the owner of the property rather than through the services of a real estate agent or broker. Property owners choose this option to avoid paying a commission on the sale to the real estate agent.
Do you know that FSBO listings are treated worse listings than the agent listing? Your listing will be harder to find for the buyers and has the disadvantage of not having a realtor. Thus, buyers are generally not interested in FSBO listings more than the expectation. If you’re a skilled negotiator and experienced home seller, then you can easily sell and save on real estate commission by listing your house for sale by its owner.
How Much Does It Cost To List Properties For FSBO Sellers
If you don’t have your own and using the top website and listing platform allows you to entail a substantial charge to marketing-savvy owners who can post the listing on the online real estate platform like- Zillow, Realtor.com, Auction.com, etc., and send it to content aggregators. If you want the full services of a real estate platform and list your home on a multiple listing service (MLS) then this will cost, you about $100 to $500 depending on the level of service.
The commission is usually 5% to 6% of the sale price that is split between the seller’s agent and the buyer’s agent. If a seller refuses to pay a realtor commission, then realtors are unlikely to show the FSBO listing to their clients. In fact, various online real estate platforms include a commission to the buyer’s agents based on their listings so that agents will show the listing to their clients without fear of losing out on a commission. The initial purchase offer usually reflects a buyer’s agent commission of 2% to 3% of the property.
Let’s suppose your property price is $200,000, then you have to pay a commission of 5% to 6% on the sale which is equal to $10,000 to $12,000 plus the additional platform fees of $100 to $200 on listing your property. It seems to be very high. In my opinion, you should create your own real estate online platform to sell your FSBO property and perform all your MLS listings.
Why Do You Need A Real Estate Online Platform?
A real estate platform is all about finding the best offer on the market: a home, commercial property, and well-developed infrastructures that meet the budget of the audience in the area of interest. Today, people are opting for various online real estate platforms to purchase properties and spend wealth in purchasing their dream houses. Therefore, it’s always a great idea to invest in an online real estate software.
The real estate online auction platform with IDX allows you to list all your FSBO properties and multiple listings. It pulls all your listing data from Multiple Listing Service (MLS) and shows it on a website for the customers. Therefore, it allows you to display a large database of real estate listings.
How Much Does It Cost To Build Your Real Estate Online Platform
The cost of building a real estate online platform is much less than paying a one-time commission to the popular real estate website, seller’s agent, and buyer’s agent. Building a Real estate online auction platform with Bidhom starts from $250/month with a one-time setup fee of $5000 while the prop plans start from $500/month with a one-time setup fee of $10,000.
Get an all-in-One Real Estate Platform to boost your digital business presence with BidHom and get all your property listings done with Bidhom. BidHom’s FSBO property listing platform and real estate online auction platform allows you to list all your multi-listing properties, Foreclosures, etc.
Benefits Of Building Your Own Real Estate Platform
More Exposure For Listings
Real estate online auction platform helps you in listing a greater number of properties on a real estate site. You can list and manage your properties faster than ever before. This will increase the visibility of your listing and will attract investors from all around the world. Thus, people from all around the world can engage with your business.
Saves Time, Money, And Effort
People have no time to visit a property dealer and look for physical property. They find it difficult to visit properties from place to place. Thus, you can easily target your customers with the online real estate auction platform to engage them. They can simply log in and browse for properties. This will save time, money, and effort for the customers.
Dynamic search shows the information that a customer sets according to his preferences. They can easily customize the property search by price, location, and more. FSBO property listing platform analyzes the customer data from their previous searches and personalizes the required information according to their searches.
AI-Driven Reports and Analytics
Real estate online auction platform allows you to keep an eye on the visitor’s statics. It AI-driven reports and analytics to generate real-time data and information through which you can analyze the demand and search preferences of your customers. This will help you in making the right business decisions quickly and effectively.
CRM-integrated real estate online platform software allows you to easily keep track of your contacts, messages, appointments, and more in one place. You can manage your business easily with effective management, scheduling site visits, capacity planning, and sales performance.
How BidHom Can Help You In Building Your FSBO Listing Platform
An online real estate platform solves all your problems in the real estate business. BidHom has various plans and customization solutions that can help you in developing your business in a variety of ways. If you are planning to build your own real estate platform, then you can choose BidHom for a fully automated comprehensive real estate software.