Robert Nichols MungoList.com

In looking at the general approach to the real estate business, it has become clear to me that there are numerous models that aim to discount the services of real estate professionals throughout the country. Although I have only been in the real estate business for 7 years, I have seen more and more discount brokerages and models pop up. I have experimented with some of these models myself and it has really helped to frame my perspective.

So are listing agents replaceable with technology? Overall I have found that majority of do it yourselfers who experiment with FSBO services are experienced sellers who have previously purchased real estate. These consumers come with varying degrees of understanding about the process and the market, but they fail to realize they may be making the most important financial decision of their lives without consulting an expert in the field. The best analogy I can think of is self representation in a legal case involving a lawsuit. I know many sellers may not look at it this way but selling a home comes with inherent liability, especially if you don't know what you're doing. The point is, FSBO sellers are not playing on a level playing field with real estate professionals.

The thing that gets lost in a lot of these FSBO services is the fact that real estate agents exist because we are the experts in the field and have been through the process hundreds of times. Statistics show that FSBO listings sell for less on average and take longer to sell. You would think that this would be all the proof home sellers would need but the FSBO model lives on. Although the Internet and technology have made it easier for sellers to sell their homes, the need for listing agents is still robust.

There is no doubt technology has transformed the industry but I believe it has had more positive effects than negative. The most significant impact I see is the ease of listing syndication on the internet and to mobile wireless devices. These types of advances have made it even easier for listing agents to stand out from the crowd and showcase listings like never before. Technological advances are rapidly changing our industry but the onus is on all of us, to utilize these advances and increase the level of service we provide to our customers.

Happy Selling!

The Median Sales Price of Brooklyn Homes for the three month period of May - July 2010 was $525,000. This represents an increase of 1.4% over the same period in 2009. The total sales volume was 1,612 in 2010 which represents a 33% increase over the same period in 2009, and the average price per square foot was $334 in 2010 an increase of 13.2% over 2009. Based on This data it appears that the Brooklyn Real Estate Market is beginning to see signs of a turn around. If you were waiting for the bottom of the market then you may want to consider purchasing soon. If this trend continues many buyers may miss out on an opportunity to take advantage of historically low interest rates and lower home values.

The Boston Real Estate Market may have seen a decline in sales volume but values are on the rise. The above data shows how August 2009 sales compare to August 2010. The numbers reflect the sale of Single family Homes, Multifamily Homes and Boston Condominiums. Sales volume was down by 24%. However, the average list price rose by 10% and the average sales price rose by 10% as well. These Numbers indicate that the market is on the rise, as a result we may have already seen the bottom of the Boston Real Estate Market, making this an ideal time to buy. With historically low rates and fair home values, buyers who are on the fence should seriously consider making a move before its too late.

As the real estate brokerage world becomes more and more dependent on the web, it has never been more critical to understand how the game has changed. The most recent NAR (National Association of Realtors) stat shows that 90% of consumers are using the internet as apart of their home search (See NAR Statistics). So what are these consumers looking for. Are they looking for a broker or listings? I'm sure you know the answer as this is not a trick question. It's pretty obvious that the far majority of them are LOOKING FOR LISTINGS.

In today's market if a seller is looking to sell a home and start their broker search on the Internet, they'll probably end up on sites like Zillow, Realtor.com and Truilia to find someone they deem to be a local pro. And in order to become a local pro you would have had to sell a decent amount of homes in a given area or at least make that appear to be the case. Regardless, the seller is looking for someone who has experience listing properties in their neighborhood. Still, I feel the majority of consumers looking to sell their homes rely on the word of month approach, usually from Neighbors, friends and family.

In the case of home buyers, I would argue that more than 90% of buyers use the Internet to search for listings. When a buyer starts their home search they usually start by browsing the Internet looking for listings in their desired neighborhood. Their first stop is most likely Google or another search engine. Their next stop is a real estate website that showed up on the first page of their search. From there they start browsing listings and begin to get a general understanding of the value of homes in a given area. Once they are ready to start looking they call the listing agent to set up a showing. As a listing agent in today's market you are able to increase your exposure to home buyers in your area and not only sell your listings but also generate buyer leads for your business.

As a result of having listings I have been able to convert numerous buyers to exclusive clients by educating them about buyer agency and being the first agent they make contact with via the Internet.

As real estate professionals listings are the key to the future. The top producers of tomorrow are the listing agents of today. A listing is the most powerful marketing tool we have a real estate professionals. My goal is to use MungoList.com (Coming Soon)to empower realtors with listings and help connect sellers to quality real estate professionals.

Below are the YTD Boston Foreclosure Statistics for 2010 VS the past 3 years.