by Liz Provo

Created on: June 16, 2008

Today, 84% of home buyers use the Internet to search for information and listings in the quest for their "dream home". In addition to searching MLS listed properties, hundreds of FSBO (for-sale-by-owner) websites are also hoping to attract visitors. Not all FSBO websites are the same, however, and consumers should research sites carefully before using them - and certainly before paying to use them as a seller. Many FSBO websites are nothing more than lead generators for other businesses. They could care less if the properties listed there ever sell and have no way of tracking their results.

(Buyers) Your time is valuable. Here are some great ways to evaluate a FSBO website:

1) Can you call a seller directly? Sites that use "call center" approaches are placing a roadblock in your way to sell you something.
2) Is the property location provided? Can you map the location. (Isoldmyhouse.com, for example, does not provide this function and all properties are mapped from Boston, MA.)
3) Check to see who owns the site? Is it a discount real estate broker, mortgage company, etc.
4) Who are the affiliates, if any? Many FSBO sites sell leads to their affiliate and you're the bait.
5) Are the listing posted for free? If so, there will be lots of dead ends as no one takes a listing down.
6) Are open houses posted? If so, are they current or outdated? Outdated postings are a sure sign of stale listings.
7) Do you have to register in order to view properties or contact the seller? Watch it - registration is a lead generator. You should never have to register to use a FSBO website.

(Sellers) Research before you pay to advertise. The first 30 - 60 days on the market is critical to your success.

1) Can buyers call you and find your property easily? If not, the site is using you to attract buyers so their phone will ring, not yours.
2) Be aware of free listing sites. Nothing is free.
3) Be aware of gimmicks - read the message behind the guarantee. If the site guarantees that they'll refer you to an agent if you don't sell, what are they really doing to help? Isoldmyhouse.com's guarantee is really just a referral service to real estate agents.
4) Can buyer's receive new listing alerts? If not, the site might not want anyone to know how few new listings they get?

Once you have done some initial homework and have found a website or two that appears real, try calling on some of the properties. Sign up for property alerts or RSS feeds so that you can keep on top of new listings, open houses, etc.

Learn more about this author, Liz Provo.
Click here to send this author comments or questions.