NEW YORK, Jan. 30, 2008 – ForSaleByOwner.com has launched a new property pricing report system that has data on 95 percent of all U.S. homes, more than any other real estate Web site. The new system offers the most accurate home valuation tool available that, together with other ForSaleByOwner.com resources, provides consumers with the most comprehensive set of tools to sell and buy homes without paying commission.
“We are pleased to offer our customers this trusted, professional resource that will help them accurately price their home,” said Greg Healy, Vice President of Operations of ForSaleByOwner.com. “We believe an increasing number of consumers are seeking the benefits that come from independently selling their home, and the availability of this resource on ForSaleByOwner.com will provide them with the confidence to do so.”
“This new system is another product of our commitment to provide consumers with a complete package of all the tools, guidance and help they need to sell and buy homes without paying commissions,” added Healy.
In order to provide its customers with the largest database available, ForSaleByOwner.com partnered with HomeSmartReports.com, a leading provider of real estate property information to real estate professionals, property investors and consumers.
“Our modeling technology has been used by mortgage lenders for 10-plus years, unlike some of the newer entrants that provide property valuations such as Zillow,” said Steve Morgan, Senior Vice President of HomeSmartReports.com. “Our Automated Valuation Model (AVM) home valuation reports are created from the largest real estate information database available anywhere, and we are excited about offering our service to home sellers and buyers on ForSaleByOwner.com.”
Key data that is included in the reports include comparable sales information, the property’s last sale price and its assessed value, as well as detailed information regarding the property. Reports will be provided free to all ForSaleByOwner.com customers who purchase an “until sold” listing package. Customers who purchase the “monthly” package, as well as other visitors to ForSaleByOwner.com, can buy the pricing reports for $8.99-$16.95.
“A recent study from Northwestern University found that ‘for sale by owner’ home sellers achieve the same sales price as homes listed with an agent. Our pricing reports will help customers with one of the most important parts of the selling process – setting the price,” said Healy.
ForSaleByOwner.com is the nation’s leading for sale by owner website. Since 1999, ForSaleByOwner.com has saved home sellers more than one billion dollars by providing premium Internet marketing services, real estate guidance and information, as well as live customer support, to help customers independently sell their own homes. The company offers a wide range of listing packages at varying prices that provide advertising, information, tools and resources to empower people to sell their homes themselves. In contrast, a person selling a $300,000 home through a real estate agent would be charged a 6% commission fee and pay approximately $18,000. Prospective homebuyers can browse the ForSaleByOwner.com database of properties at no charge.
HomeSmart Reports has been a leading national provider of property information reports since 2004. The two principals of HomeSmart Reports have a combined total of more than 48 years in the real estate information business and the primary goal is to provide valuable information that assists in making more informed decisions related to the real estate process.