Renting

Burlington VT Real Estate

FlatFee RealEstate is headquartered inBurlington, Vermont along the shores of Lake Champlain. Its founder,Rob Foley, is also a resident of Burlington,Vermont.Rob and his wife also attended the University of Vermont inBurlington.

Because of these ties, FlatFee RealEstate has a great wealth of knowledge about Burlington real estate and the real estate in surrounding communities.

Burlington has a population of approximately 42,000 according to the most recent census data. While theCensus data shows that Burlington's population's increased by 7% over the past decade, it appears that much of the growth may be due in large part to increases in enrollment at the University of Vermont and ChamplainCollege.

For those looking to make a move, Burlington represents a great alternative to larger metro areas like Boston. While it does not have all of the amenities that you will find in a large City,Burlington has many of the key amenities found in larger cities.

First and most importantly, Burlington has an InternationalAirport. BurlingtonInternationalAiport is served by major airlines, including JetBlue, US Air and Delta.

Second, Burlington has a prominent teaching hospital,Fletcher AllenHealthcare. Burlington is probably one of the only cities inAmerica with less than 50,000 residents that is served by such a high class medical facility.

Third, Burlington is home to several educational institutions, including the University of Vermont and ChamplainCollege. Thanks to the stability of employment created by these institutions, Burlington's current unemployment rate is less than 1/2 the national average and lower than the average in the rest of Vermont.

Fourth,for a small City, Burlington has the cultural resources of a larger city. Burlington was recently named one of 10 cities inAmerica for "foodies" to visit. Burlington also has musical and theatrical venues such as the FlynnTheater and Higher Ground.

Finally, because it is located on the shores of the 120 mile long Lake Champlain, the outdoor activities rival that of any City located along the eastern or western seaboard.

In addition to having the amenities of larger cities, Burlington has attributes that make living inBurlington better than living in a major City. First, Burlington's real estate market is more stable than many large metro areas. The stability of its institutional employers, such as UVM, and its size help ensure that Burlington real estate will not suffer the major swings that we see in other more volatile areas.

Second, Burlington has a better quality of life for raising families.In Boston, many parents endure average commutes of 1 to 2 hours. In Burlington, your average commute will likely be less than 10 minutes. Also, there is a lower crime rate and cleaner air than in larger metro areas.

Third, travel is easier. Whether by car or plane, it is easier to escape a smaller City like Burlington than a large metro area such as Boston.

Finally, there are few sights that can rival a sunset in Burlington. Sitting along the shores ofBurlington peering back toward the purple and orange glow above the Adirondack will make you wonder why you ever lived anywhere else.

To learn more about Flat Fee and Vermont real estate, contact us anytime.

Selling In the Internet Age

Selling In the Internet Age

The internet has dramatically changed the way buyers of real estate search for property.

No longer do buyers spend hours on a weekend attending multiple houses. Gone too are the days when buyers read the paperto findreal estate listings. Buyers no longer even rely upon real estate agents to send them listings. Instead, buyers now do the majority of their own legwork and they do that legwork almost exclusively online.

Buyers typically start their search at a well known website like Realtor.com. They enter their general search criteria. They then begin to weed out the listings based upon the content they find online. Buyers tend to be attracted towards listings with more online content. For instance a buyer is more likely to click on a listing if there is a link to a video tour because it helps give them a better sense of the property. In a similar vein, buyers are less likely to click on a listing if it has very little content such as only one exterior picture of the building.

Once the buyers narrow down their list to 2-5 properties based upon their internet search, they will call their real estate agent and tell their agent which listings they want to see. The agent schedules the showings and helps the buyers in analyzing the property, buthas little to do with the actual selection of listings.

Because of the changes in the search process, Sellers need to adapt their marketing efforts to distinguish their listing online. It is important that sellers try to provide as much online content as possible. For instance, sellers should not only have pictures posted online but if possible should also have a video tour produced that can be viewed online by buyers. Sellers should also consider creating a separate website for their property so that there is simply more interaction for a buyer to experience online.

At Flat Fee Real Estate, we have adapted our marketing efforts to the new reality of the property search process. Since our inception we have created separate websites for our clients to help their listings standout online. We have also had videos produced for most of our listings. We have anecdotal evidence that buyershave beenmore attracted to our clients' listings as a result of the content provided online.

In addition to changing the way buyers search, the internet has made real estate agents much more efficient. Buyers are doing most of their own searching so the total number of hours required of a buyer's agent has been greatly reduced. For listing agents, the information and online tools help greatly reduce the time it takes to perform a market analysis and communicate this information to prospective sellers.

Because the interent has reduced the overall time commitment of each transaction, it stands to reason that the fees charged for the service should be reduced. That is why we have been able to offer a service that has historicallybeen charged at a 6% commisionfor a flat fee of $3,500 per transaction.