As a home seller, you and your real estate agent have a lot of tools available to attract the attention of potential home buyers.  Here are some of the most commonly used methods for advertising property listings and expert insight into their effectiveness.

• Multiple Listing Service
The Multiple Listing Service is one of the most effective marketing tools you can use when selling your home.  An MLS is a private database that allows real estate brokers who are representing home sellers to share information about property listings with real estate brokers who represent home buyers.  Most buyers' agents rely primarily on the MLS when looking for homes for their customers.The only way to market your home through the MLS is by listing with a real estate agent who is a member of the local MLS.Compensation to the selling agent is offered on all homes in the MLS.  While the percentage may vary, it is typically around three percent.  Make sure your agent specifies in writing how much of the commission you pay will be offered through the MLS to the selling agent.  Don't be fooled by an agent who offers to lower their commission-oftentimes to keep you from choosing a discount broker-and then offers less than the customary rate in the MLS.


• Yard Signs
Home buyers tend to drive through the neighborhoods they are interested in so yard signs can easily attract their attention.  Also, people who live in your neighborhood may have friends who have expressed an interest in the area.  Always allow your agent to put a "For Sale!" sign in your yard.

Avoid "sign riders" that say "By Appointment Only!"  All showings are by appointment so you don't need to spell it out on the sign.  Besides, it sounds uninviting.  Also, make it easy for your home to be shown.  Allow a lockbox to be placed on your home so other agents can show it to potential buyers quickly and easily. 


• Internet
Most home buyers today start their search on the Internet.  The current trend is for the buyer to search through a search engine like Google or Yahoo as opposed to going to specific real estate sites. 

Ask your real agent where your home will be marketed on the Internet.  If your home is in the MLS, it will automatically be posted on REALTOR.com®.  Make sure the policy of the brokerage you are listed with is to share their listings with all of the major Web sites.  Surprisingly, there are some brokerages that refuse to allow their listings on other sites.  They are trying to increase the odds that they will sell your home themselves.  This is good for them but typically there is no corresponding benefit extended to you, such as a savings on the commission.


• Open Houses
Most agents will tell you open houses don't work because they don't want to spend their time doing them.  Open houses do work.  If they didn't, why would builders of new subdivisions construct model homes and have them open every day?

In the listing contract, have your agent commit to a certain number of open houses.  Shoot for twice per month at 3-4 hours in duration. 

Discount real estate companies typically allow sellers to conduct their own open houses.  This is great.  They are easy to do and the savings on commission makes up for the small amount of effort on the home seller's part.


• Word of Mouth
Make sure you tell your friends, family and co-workers that you are selling your home.  You never know who may be looking to move.


• Print Advertising
Newspaper and magazine ads can be effective but not when you consider their high costs.  That's why many real estate brokerages have discontinued this type of advertising.  If the brokerage has a good Web site and a good Internet marketing plan, you shouldn't worry about this type of advertising.


• Direct Mail
Many real estate agents will mail "Just Listed" post cards around your neighborhood.  Understand that the motivation of the agent isn't to sell your home as much as it is to advertise themselves as the "neighborhood specialist."


• Agent Open House
Sometimes called "brokers caravan" or "agent tours," agent open houses are typically held to impress the home seller.  In reality, they aren't very effective for exposing the home to buyers.  Agents working with buyers will be out previewing new listings well in advance of any scheduled tour.

Industry professionals agree, the Internet, the Multiple Listing Service and yard signs are the most effective marketing tools for home sellers.  But don't forget the importance of properly pricing your home.  No amount of marketing can overcome an overpriced home. 

Like other real estate professionals throughout the country, Assist-2-Sell franchise owners and brokers are seeing their fair share of homeowners at risk of foreclosure.  Assist-2-Sell tapped into their experience and asked, "What's the best piece of advice you can offer homeowners who want to avoid foreclosure?" 

Here's what real estate brokers from around the country had to say:

  Homeowners who would like to consult with an experienced and licensed REALTOR® can find an Assist-2-Sell® office in their area at www.assist2sell.com/offices.aspx. 

Assist-2-Sell owner Mike Carter uses his experience to help homeowners avoid foreclosure.

With recent changes in the real estate market, many homeowners have found themselves in a tough financial situation.  The "nothing-down" 80/20 mortgages that were used to purchase homes over the last few years may have made sense at the time, but now those homes may be worth less than what is owed due to declines in market values.  Unfortunately, some homeowners can't wait for the problem to resolve itself; they need to sell now, either because of financial hardship, job loss or divorce, or because they need to relocate for a new job. 

One option for a home seller is a "short sale."  A short sale occurs when the net proceeds from the sale of a home are not enough to cover the seller's mortgage obligations and closing costs, and the seller is unable to cover the difference. 

For the lender to agree to a short sale, the homeowner needs to provide a financial statement demonstrating a true financial hardship.  Since the short sale process involves a lot of detailed paperwork, problem-solving skills and persistence, a homeowner should utilize a real estate professional who understands the process to achieve a successful conclusion. 

Some "upside-down" home sellers think they can't afford a real estate broker, so they try to sell the home on their own.  Many don't realize that in a short sale, the lender pays the broker's commission.

The REALTOR®'s job is to negotiate for the home seller and show the lender that it is in the lender's best interest to accept the short sale versus foreclosing on the property.  Obviously, lenders don't like to take less than what they are due, but they also don't like to foreclose a non-performing loan.  There are legal costs, repair costs to the property, remarketing and carrying costs, and the uncertainty of getting the highest price in a market already flooded with inventory. 

In a short sale, the home still needs to be placed on the market, a buyer needs to be found and a bona fide offer received.  Without a viable purchase offer, a short sale proposal won't be considered by the lender. 

If the lender does agree to the short sale, the homeowner will not receive any money at closing, since the lender is accepting less than what they are owed.  However, the homeowner will be able to avoid a foreclosure on their credit, which is a lot harder to clear than slow-pays.  The lender could, but doesn't always, pursue a deficiency judgment against the owner, or some lenders may, as a condition to the short sale, ask the seller to sign a promissory note for all or part of the difference between the proceeds of the short sale and the debt obligation.  Homeowners also need to be aware that a short sale is considered a "forgiveness of debt," which may be viewed by the IRS as taxable income to be reported. 

A short sale is one way, with the help of a knowledgeable REALTOR®, to relieve the financial strain on families due to changes in the housing market.

Mike Carter is the owner and broker of Assist-2-Sell Buyers and Sellers Realty in St. Augustine, Fla.  Assist-2-Sell, North America's Leading Discount Real Estate Company^SM, provides home sellers with full brokerage services for a low, flat fee, saving consumers more than $800 million in commission.*  Home buyers also have access to a full range of services, including Assist-2-Sell's exclusive listings databases.  All brokers and agents are fully licensed and REALTORS®.  On the Net: www.jaxhomeinfo.com.

*Savings based on statistics since January 1, 2000, for all Assist-2-Sell offices in North America, compared to paying six percent commission.  Six percent used for comparison purposes only.  Commissions may be negotiable and are not fixed by law.

Using his 30 years of experience in the industry, Assist-2-Sell co-founder and co-chief executive officer Lyle Martin helps clarify some misperceptions about real estate brokerages and offers homeowners some tips on what they should look for in an agent. 

Most homeowners will use a real estate agent to sell their home.  With more than a million REALTORS® nationwide, how do you choose one?  Most home sellers will either ask their family and friends for a referral or they'll call the agent who sold them their home originally.  Some will choose the agent who kept in touch through neighborhood marketing.  Others choose a brand name brokerage they recognize and take whichever agent answers the phone.  While all these methods are fine, there are some things you can do to be more pro-active in selecting a brokerage and an agent.

Select a Real Estate Brokerage That:

• Is properly licensed and in good standing with the state.  (This just requires a quick phone call or a visit to the appropriate Web site.  The department that licenses and regulates the real estate industry in your state may be called the Real Estate Division, the Department of Real Estate or the Real Estate Commission.)
• Belongs to the local Association of REALTORS® and the local Multiple Listing Service (MLS).
• Specializes in residential home sales.

Select a Real Estate Agent Who:   

• Works in the real estate business full time.
• Is a REALTOR® and a member of the MLS.
• Is experienced in residential home sales.
• Demonstrates competence and local market knowledge.

Once you've determined that a brokerage and an agent are fully licensed, experienced and qualified to meet your needs, you'll need to decide how much you're willing to compensate them for their services.  Use the following information to demystify this decision-making process.

MYTH: Bigger is Better      
Many home sellers think if they retain a large brokerage, all the agents in the office will be trying to sell their home.  There is rarely an incentive for an agent to sell a home listed by another agent in the office.  Agents typically rely on the MLS for information on homes for sale and are happy to show and sell homes listed by agents outside of their brokerage. 

The MLS levels the playing field, so don't worry about the size of the brokerage.  Focus instead on the strengths of the agent.

One thing many home sellers overlook is the fact that smaller brokerages are often comprised of more experienced agents.  A lot of new agents get their start at large brokerages, while experienced agents often leave to start their own brokerages.

MYTH: Brand Name = More Marketing
Regardless of the size of the brokerage, the marketing of individual homes is typically paid for by the listing agent.  It has been proven time and again that the most effective marketing tools are the MLS, yard signs and the Internet.  That's what home buyers are using to find homes.  And any agent can provide these marketing tools.

If the brokerage you hire is spending a lot of money on television ads, billboards and park benches, you have to ask yourself how that is benefiting you.  Are they looking for buyers for your home or simply attracting more business for themselves and justifying their high fees?     

MYTH: You Have to Pay a High Commission
Real estate agents who charge a high commission want homeowners to think they have to pay six or seven percent in order to sell their home in this market. 

The truth is there are many alternatives to paying such high commissions.  There are discount firms like Assist-2-Sell that offer full-service for as low as a few thousand dollars.  With a full-service discount real estate company, home sellers receive all of the services they would get with a high commission brokerage, but without all of the cost. 

There are other real estate companies that discount their fees by reducing the level of service.  These are good for home sellers who are willing to take on some of the work, such as taking calls and showing the home.  Fees can start at only a few hundred dollars. 

Checking into these companies can save home sellers thousands of dollars.

MYTH: You Get What You Pay For
Home sellers will find that most real estate agents charge the same high commission yet agents don't come close to offering the same value.  Call a brand name brokerage with many agents and chances are you'll get a newer, less experienced agent.  Do they have the same level of experience, negotiating skills and marketing budget as a seasoned agent?  Certainly not, yet they want the same commission.  This doesn't mean they won't do a good job and succeed, but you are not getting the same value (i.e. what you pay for), compared to hiring a top producing agent.

It's not difficult to find top producing agents working at discount brokerages.  These agents have discovered they can make more money in volume by charging home sellers lower fees, while still providing full-service.  And home sellers are happy because they're saving money and receiving full-service. 

Selling a home is a complicated process and it does require the use of professionals, especially in this market.  Remember, the commission you pay does not ensure value.  Select a real estate agent who is licensed, qualified, experienced, knowledgeable and ready to represent your best interests.  With a little research, you will find someone who will sell your home quickly and will help you get as much money for it as possible.